Recreational Boats Market Scope
Recreational boats are also known as pleasure craft boats, which is designed for fun on the water surface. It is used by many individuals for fun and pleasure activities during an outing with friends and family. The recreational boat is used for many activities such as fishing, water sports game, boat racing, campaigning, and sailing, among others. The growing tourism industry is one of the major factor contributing to the growth of the market.
According to AMA, the Global Recreational Boats market is expected to see growth rate of 8.8%
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Recreational Boats market throughout the predicted period.
Groupe Beneteau (France), Brunswick Corporation (United States), Azimut-Benetti Group (Italy), Ferretti S.P.A. (Italy), Marine Products Corporation (United States), Carnival Corporation & plc (United States), Royal Caribbean Cruises Ltd. (United States), Norwegian Cruise Line Holdings Ltd. (United States), MCBC Holdings, Inc. (United States) and Malibu Boats, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Grand Banks Yachts Ltd. (Singapore), Porter, Inc. (United States), Grady-White Boats, Inc. (United States), Maverick Boat Group, Inc. (United States), Correct Craft (United States), Baja Marine (United States), Pacific Asian Enterprises (United States), Albemarle Boats (United States) and Sunseeker International Limited (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Recreational Boats market , by Application (Fishing, Sport, Transportation, Travel & Tourism and Others) and Region with country level break-up.
On the basis of geography, the market of Recreational Boats has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 21 Jan 2019, Polaris Industries announced the acquisition of the Larson brand of fiberglass sport and fishing boats from Pulaski, Wisconsin yacht manufacturer Marquis-Larson Boat Group. Polaris re-entered the recreational boating industry in May 2018 when it acquired Boat Holdings LLC, representing the Bennington, Godfrey, Hurricane and Rinker brands, for a reported 805 USD Million.
On 28 June 2017, Malibu Boats, Inc. announced a definitive agreement to acquire Cobalt Boats, LLC, a privately held, leading manufacturer and distributor of premium sterndrive and outboard boats for an aggregate purchase price of 130 million USD. Further strengthening Malibu's leading position in the powerboat industry
Market Trend
- Recreational Boats with New Features and Styling
Market Drivers
- Rising Disposable Income Has Resulted In Increased Travel and Tourism Activities across the Globe
- The Increasing Participation in Leisure Boating Activities across the European and US Regions
- Growth of the Asian Yachting Industry
- Rising Spending On Recreation and Leisure Activities
Opportunities
- Technological Advancements in Marine Industry
- Growth of Hybrid and Electric Boat Engines
Restraints
- Environmental Pollution Caused By Boating
Key Target Audience
Recreational Boats Manufacturers, Recreational Boats Sub Component Manufacturers, Recreational Boats Raw Material Suppliers, Recreational Boats Traders/Distributors, Recreational Boats Importer/Exporter, Regulatory & Government Bodies, End Users and Others