Global Recreational Boating Market to Grow at a CAGR of 3.4% During 2024-2032, Aided by the Growing Trend of Outdoor Recreation Activities and Wellness

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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Market Analysis by Type, Power Source, Application, and Region:

• The market, on the basis of type, can be divided into outboard boats, inboard boats, personal watercraft boats, sail boats, and rigid inflatable boats, among others.

• Based on power source, the market can be divided into human powered, sail powered, and engine powered, among others.

• The various applications of recreational boating include watersports and cruising and fishing, among others.

• The major regional markets for recreational boating include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Advancements in marine technology such as AI and robotics and improvements in radar systems, GPS, sensors, and other proprietary technology drive the recreational boating market growth.

• The growing trend of outdoor recreation and wellness creates opportunities for the market as recreational boating cuts down screen time and work stress, connects people with nature, and encourages them to engage in physical activities.

• The tourism industry drives the demand for recreational boating services such as luxury boating, cruising, and private yachts. Consumers’ growing personalised boating demand owing to rising disposable income and dual-income households create opportunities for the market expansion.

• Boating events and shows across the globe are pushing manufacturers to concentrate on new product development while maintaining quality.

Key Offerings of the Report:

• The EMR report gives an overview of the global recreational boating market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, power sources, applications, and major regions of recreational boating.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report

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