The recreational boat is usually designed for the purpose of making the experience of tourism more enjoyable and full of fun. These boats are also known as pleasure craft boat. People use these boats to enjoy while outing with their families, friends, and colleagues. The recreational boat is used for many activities such as fishing, boat racing, water sports game, campaigning, and sailing. Materials used for the manufacturing of these boats consist of coated fabrics, plastic, and aluminum.
The demand of the recreational boat is increasing owing to the rising recreational, tourism, and promotional tourist sports activities. Various features provided by manufacturers such as new innovations in boats and increased boat sizes are responsible for the rising demand in the market. Moreover, growth growing tourism industry is also impacting the global recreational boating market in a positive way. In addition, improved economy and growing population may also boost the market growth in the coming future. Some of the major growth factors of the global recreational boating market are high-tech features, higher consumer confidence, and advanced technology.
Recreational boating market is segmented on the basis of boat type as cabin cruisers, jet boats, pontoon boats, propulsion systems, personal watercraft, and others. Further, the others segment is sub-segmented as fishing boats, sailboats, runabouts, sterndrive, towboats, and powerboats. Of which, powerboats segment accounted for the largest market share.
North America is the leading regional segment for recreational boating market across the globe. The US accounted for the largest market share in the region. Factors such as stable economic conditions and government financial assistance are anticipated to boost the global recreational boating market. In addition, Europe is the second largest region for the market owing to its rising tourism activities. Asia Pacific is also one of the well-known markets for recreational boating. Increasing double income of the middle-class people encourages them to spend on premium recreational activities such as recreational boating, which in turn fosters the growth of the market
Some of the major players in the recreational boating market are Caterpillar Incorporated, Azimut-Benetti, Ferretti, Carlisle Paddles, Avon Inflatables, Brunswick Corporation, Rodriguez, Bombardier Recreational Products Incorporated, Bavarian, Sealine Attwood, Brunswick Corporation, Zodiac Marine & Pool, Platinum Equity, Baja Marine, Suzuki Motor Corporation, Princess, Group Beneteau, Sunseeker, and Azimut-Benetti. Others key players in the market are Yamaha Motor Company Limited, Kawasaki Heavy Industries Limited, KCS International Incorporated, Honda Motor Company Limited, Poly Marquis Yach, Tognum AG, Hydra-Sports Boat, Godfrey Marine, Crusader Marine Engines, General Motors Company, Pleasurecraft Engine Group, Interphase Technologies, and Fountain Powerboat Industries Incorporated.
Recreational Boating Market: Regional Segment Analysis