Press Release
Press Release
The Asia Pacific holds a significant market portion of the recreational boating market share, as Southeast Asian countries such as Thailand, the Philippines, and Indonesia are some of the most popular beach destinations in the world. The tourism industry in Thailand accounted for 18% of the total GDP in 2022.
Activities that fall under the category of adventure and recreation include volcano trekking, island hopping, boating, scuba diving, and surfing. With rising disposable income of the working population, consumers are willingly spending on recreational boating activities. Additionally, the increasing popularity of leisure boating and cruising further drives the market growth.
New product development also supports the market growth. In December 2023, Boston Whaler, a division of Brunswick Corporation (NYSE: BC), launched the newest model in the Vantage lineup, the 210 Vantage. The brand-new and keel-up dual console model offers premium features essential to the Boston Whaler brand, along with user-friendly technology to appeal to the next generation of boaters.
The model offers boaters a high level of confidence and security on the water thanks to its highly capable capabilities; social comfort with plenty of seating for entertaining and relaxing onboard; simplicity with intuitive systems that make it easy to operate and maintain; and adaptability for cruising, fishing, or socialising on the water. With its sensible design, large seating, weather protection, and manageable size, the new launch is convenient for young families.
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The major players in the global recreational boating market are Brunswick Corporation, Marine Product Corporation, Azimut Benetti Group, Sunseeker International Limited, Bennington Marine LLC, and White River Marine Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Power Source |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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