Global Recreational Boating Market Outlook and Forecast Report 2022: A Market to Exceed $425 Million in 2021 – Deliveries to Pass 1 Billion Mark in 2027 – ResearchAndMarkets.com

0

DUBLIN–(BUSINESS WIRE)–Recreational Boat Market – Global Outlook and Forecast 2022-2027 report has been added ResearchAndMarkets.com Offer.

Global Boat Monitoring Market Report, Boat Tracking Market Surpassed US$425.18 Million In 2021 And Is Expected To Ship 1.08 Million Units In 2027.

The established markets of Europe and North America will see high demand for recreational boats during the forecast period as the commercial launch of boats in these regions has increased. This offers a lot of opportunities for providers in the forecast period. In addition, the demand for maritime infrastructure arises due to the changing market dynamics, e.g. B. a higher number of pleasure boat users.

TECHNOLOGICAL ADVANCES

Boats with built-in tracking devices: This technology uses GPS to track a boat. The boat monitoring systems are beneficial in emergencies where rescue services can reach the desired location in less time since the exact location is known via GPS.

Joystick Controls: This technology aims to appeal to the younger generation as they can associate this experience with playing a game. This system centralizes the boat’s rudder controls in a single location, allowing the controls to be tilted and rotated to move the boat around in the water when needed.

Self-sailing boats are the future of sailing, where boaters can enjoy their family time while the sailboat navigates itself on a predefined route. For example, MIT and the Amsterdam Institute for Advanced Metropolitan Solutions have demonstrated a self-sailing boat called the Roboat.

Automatic Positioning Systems: This system acts as a virtual anchor for the boat. This boating technology uses GPS satellites to keep a boat’s current position. This system helps boaters explore the area without worrying about leaving their boat unattended.

Digital dashboard and touch-sensitive devices: The introduction of digital dashboards with touch screen displays allows users to control the boat by simply touching the screens. Fly-by-wire technology, introduced in digital chokes and shifters, is more reliable than moving mechanical parts.

MARKET TRENDS

With several technological advances, the electric boat market has grown significantly in recent years. Electric boats, particularly hybrid boats where the electric motor doubles as a mechanically spun generator, are now seeing more acceptance in the recreational sector. Electric boat propulsion is growing in popularity, inspired by the desire to reduce emissions and noise, and because it is cheaper to run and easier to maintain.

MARKET LEADER

Boating demand and consumer interest are increasing as people seek boating as an outdoor activity, especially as other leisure activities, travel and sports continue to be impacted by COVID-19. According to the National Marine Manufacturers Association (NMMA), retail sales of new power boats in 2021 exceeded 300,000 units for the second straight year and grew by 1% on a five-year average.

SEGMENT ANALYSIS

Outboard boats are one of the top selling boats in the North American region. In addition, with technological improvements, the demand for outboard boats has been driven mainly based on the performance of boats. Outboard boats offer several advantages including versatility, improved performance, ease of use and multiple options.

Commercial applications of powered boats are likely to see a significant increase in demand for outboard motors due to the growth in coastal tourism around the world. The development of high performance engines will further encourage the use of these engines in tourist boats. Power boats are among the most used boats in the global recreational boating market.

Developing regions such as APAC have emerged as one of the key regions seeing a significant increase in passenger base. For example, mainland China dominates the Asian market, accounting for around 50% of Asia’s passenger traffic in 2021. Several factors are driving the growth of the cruise industry worldwide, including a strong economic recovery and growth in cruise ship capacity.

Boats ranging in size from 30 to 50 feet have more storage space, which translates to more amenities and larger tank sizes. The tanks in these boats are sufficient for long-term cruising and allow for additional additional tanks. Several boats fall under this category: cabin cruisers, express cruisers and performance boats.

Currently, internal combustion engines (ICEs) are the leading technology in marine propulsion. An internal combustion engine (ICE) is a heat engine in which fuel is ignited to generate heat, creating movement and mechanical energy. The system includes micro-explosions of a compressed mixture of air and fuel, high-pressure fuel and friction between metal parts.

GEOGRAPHICAL ANALYSIS

In established markets such as Europe and North America, there is noticeable new sales demand. However, there is still significant rental demand for boat services. On the other hand, emerging markets like APAC, Middle East and Africa, and Latin America are still developing markets.

In the last two years, these markets have gained a significant share of the global market. North America was the largest recreational boat market in 2021, accounting for 46.24% of sales. In the US, demand for recreational boats accounted for 91.72% of sales in 2021.

In APAC, Japan is one of the developed markets for recreational boats while countries like China, India and South Korea are still developing their markets in terms of demand. Additionally, in recent years, the global market has witnessed intense competition in terms of new product launches and product pricing.

COMPETITIVE LANDSCAPE

The global recreational boating market is fragmented and the degree of fragmentation is expected to accelerate over the forecast period. There is a significant number of global and domestic providers in all regions.

The competition between these service providers has intensified in recent years. The market concentration in developed countries like USA and other western European countries is high, while the market in emerging countries like China and India is growing due to the entry of several international brands into these countries.

The competition between the providers is based on product offers and prices. Providers are embracing new business models and focusing on further developing the portfolio of their established products to drive growth. The focus on yachts is shifting sharply towards luxury products which are likely to present tremendous opportunities for providers over the forecast period.

key provider

  • Azimut Benetti group

  • Bombardier Leisure Products (BRP)

  • Braunschweig society

  • Ferretti

  • group Beneteau

Other prominent providers

  • Albemarle boats

  • baja marine

  • Bavaria yachts

  • Bertram Yachts

  • Princess Yachts

  • Boston Whaler Boats

  • Catalina yachts

  • correct craft

  • Custom sweat boats

  • Duckworth boats

  • Explorer Industries

  • Fountain Motor Boats

  • Gottfried

  • Grady White boats

  • Grand Banks yachts

  • Hanse Yachts

  • high grade

  • hobby

  • Lund

  • Malibu

  • Marine Products Corporation

  • Marlow hunter

  • Maverick Boat Group

  • MCBC Holdings

  • pacific asian companies

  • porter

  • sunseeker

  • thunder ray

  • Viking yacht

  • White River Marine Group

  • Jamaica

  • Zodiac Marine & Pool

Main topics covered:

1 research methodology

2 research goals

3 research process

4 Scope and Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of the Study

4.4 Market Segments

5 Report assumptions and reservations

5.1 Important caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a glance

7 premium insights

7.1 Market Overview

7.2 Technological advances

7.3 Market Dynamics: Key Trends, Drivers and Constraints

7.4 Segment Analysis

7.5 Geographic Analysis

7.6 Competitive Landscape

7.7 About the Report

8 Introduction

8.1 Overview

8.2 Overview of Recreational Boats

8.3 Technological advances in recreational boating

8.4 Dawn of electric and hybrid engines

8.5 Luxury Market

8.6 Effects of Covid-19

9 Market Opportunities and Trends

9.1 Advances in marine technology

9.2 Expected growth in consumer confidence

9.3 Growing Opportunities in the Electric Boat Industry

9.4 Growth in the Sea Tourism Industry

10 Market Growth Promoters

10.1 Increasing demand for motor boats with outboard motors

10.2 Increasing participation in recreational boating activities in Europe

10.3 Rising spending on luxury products and services

10.4 Growing boat market

11 Market Restrictions

11.1 Pollution from Boating

11.2 Concept of Rental and Used Boat Services

11.3 Failure to Attract Millennials

12 Analysis of the value chain

12.1 Overview of the value chain

13 market landscape

13.1 Market Overview

13.2 Market Size and Forecast

13.3 Key Factors influencing the Leisure Boats Market

13.4 Superyacht Order Book

13.5 Five Forces Analysis

For more information about this report, visit https://www.researchandmarkets.com/r/p2rh44

Share.

Comments are closed.