Major players in the pleasure boat market are Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Brunswick Corporation, Ferretti SPA, Fountain Powerboats, Inc., Catalina Yachts, Avon Marina, Chaparral Boats, Inc.
New York, Oct. 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Leisure Boat Global Market Report 2022” – https://www.reportlinker.com/p06325422/?utm_source=GNW
Farr Yacht Design, Ltd., Groupe Beneteau, Malibu Boats, Polaris Inc., MasterCraft Boat Company, AB Volvo and Marine Product Corporation.
The global recreational boat market is expected to grow from $38.04 billion in 2021 to $40.61 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The recreational boat market is expected to reach $49.22 billion in 2026 with a CAGR of 4.9%.
The recreational boat market includes sales of recreational boats and related products by entities (organizations, sole proprietorships, and partnerships) that refer to a large vessel used to transport passengers along rivers, lakes, or across the sea for spending free time, traveling, for recreation, entertainment and other purposes. These boats sometimes have luxurious features such as accommodation, cabins and other amenities.
Some pleasure craft include yachts, outboard motors, cruisers, kayaks, canoes, and others.
The main types of recreational boats are yachts, sailboats, personal watercraft, inflatables and other types. Yacht refers to a vessel having sails and sometimes a motor, used for recreational or competitive sailing.
The size of the yacht varies from small to large and it is widely used for recreational activities. Pleasure boats use various sources of energy such as engine, sail and man.
Types of materials used in the manufacture of recreational boats include aluminum, fiberglass, steel, and other materials. They are used for fishing, transportation, sports, travel and tourism, and other applications.
North America was the largest region in the recreational boat market in 2021. Western Europe is expected to be the fastest growing region during the forecast period.
Regions covered in the Recreational Boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
The Recreational Boats Market research report is one of a series of new reports that provide statistics on the recreational boats market, including the global market size of the recreational boats industry, regional shares, competitors holding Recreational Boats market share, detailed segments of the Recreational Boats market, market trends and opportunities, and any other data you may need to thrive in the Recreational Boats industry. pleasure. This Recreational Boats Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Growth in tourism is expected to propel the growth of the recreational boat market. Tourism is a social, cultural and economic phenomenon that involves people traveling to countries or places beyond their usual environment for personal or business/professional reasons.
The rapid growth of tourism in the last decade is due to the increase in disposable income, access to various places, the desire to explore, etc. The pleasure boat helps the tourism industry by transporting the passengers to the desired travel destination and providing a luxurious experience to the tourists.
For example, according to a report published by the United Nations World Trade Organization (UNWTO) in 2022, global tourism increased from 400 million in 2020 to 415 million in 2021, an increase of 4% in 2021 compared to the previous year. Hence, the increase in tourism is expected to drive the demand for recreational boats over the forecast period.
Technological advancement is a key trend gaining popularity in the recreational boat market. In the recreational boat sector, artificial intelligence is widely used to optimize routes, reduce emissions and reduce instances of human error through the use of highly developed AI systems.
For example, in December 2020, Buffalo Automation, an American start-up specializing in artificial intelligence and creating autonomous navigation technology for water taxis, pleasure boats and commercial vessels, launched Greycraft Water Taxi. It is the first fully autonomous, AI-driven Robotaxi taxi that can transport passengers.
The system uses artificial intelligence, neural networks and thermal imaging technologies to detect even the most minor obstacles and safety issues, issuing important alerts and helping to navigate safely around them. It is a stable, safe and secure mode of transportation.
In May 2021, Limestone Boat Company Limited, a Canadian company that designs, manufactures and distributes boats, acquired Ebbtide Holdings for an undisclosed amount. With this acquisition, Limestone will achieve rapid and sustained expansion.
Along with the addition of the Boca Bay and Ebbtide brands, the merger of the iconic Limestone and Aquasport names ensures the continuity of the company’s reputation for quality, performance and safety. Ebbtide is a US-based boat manufacturer that manufactures the Aquasport and Boca Bay brands.
The countries covered in the Recreational Boat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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