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Yahoo Finance Plus United States Recreational Boat Market Insights Report 2023: A $28.5+ Billion Market by 2028 - Inboard/Sterndrive Boats Dominates the Market
U.S. Recreational Boat Market
Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "US Recreational Boat Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The US recreational boat market will be valued at $28.54 billion by 2028 from $17.31 billion in 2022, growing at a CAGR of 8.7%
This report provides complete information regarding consumer purchasing behavior and the adoption of recreational boats in the US. In terms of revenue, inboard/sterndrive boats dominate the recreational boat market.
Further, the choice of boats varies depending on the type and purpose of consumers. Furthermore, major players focus on strategic agreements, acquisitions, and collaboration with emerging players to enter the US recreational boat market to gain access to commercially launched products.
The established markets of the US are expected to witness high demand for recreational boats during the forecast period since the commercial adoption of boats has increased in these regions. This offers vendors many opportunities during the forecast period. In addition, the demand for marine infrastructure arises due to the changing market dynamics, such as a higher number of recreational boat users.
Vendors can fight stiff market competition based on the pricing and quality of their products. A vendor surge due to low entry barriers has provided customers with a wide range of providers, intensifying competition. Hence, players have to focus on acquiring customers and retaining them.
Recreational boat players are also consistently facing the impact of various macroeconomic developments across regions. Regulations and policies are also key aspects of the sale of recreational boats. In addition, vendors are striving to produce cost-efficient recreational boats at affordable prices to meet the intensely competitive environment.
Furthermore, the recreational boat market in the US has shown considerable growth with robust local manufacturing and strong export and import infrastructure. IT is seen as a fast-growing market with a major focus on boats up to 40 feet long.
The overall analysis of the US market suggests that the high utility of recreational boats mostly drives the market for a variety of activities. Close to 141 million people in the US are involved in boating events. Further, the US accounts for the largest share of 42% in revenue of the global recreational boat market. Meanwhile, regarding the entry of new vendors, the US market offers tough competition.
Key Attributes:
Report Attribute | Details |
No. of Pages | 123 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (USD) in 2022 | $17.31 Billion |
Forecasted Market Value (USD) by 2028 | $28.54 Billion |
Compound Annual Growth Rate | 8.6% |
Regions Covered | United States |
LIST OF VENDORS
Key Vendors
Azimut-Benetti Group
Bombardier Recreational Products (BRP)
Brunswick Corporation
Ferretti
Groupe Beneteau
Other Prominent Vendors
Albemarle Boats
Bertram Yachts
Catalina Yachts
Correct Craft
Renaissance Marine Group
Iconic Marine Group
Grady-White Boats
Grand Banks Yachts
Malibu Boats
Marlow Hunter
MasterCraft Boat Holdings
Sunseeker
White River Marine Group
Yamaha
Viking Yacht
Key Topics Covered:
1: US Recreational Boat Market Overview
Executive Summary
Introduction
Key Findings
2: US Recreational Boat Market Projected Revenue & Volume
US: Projected Revenue of Recreational Boat Market (2022-2028; $Billions)
US: Projected Volume of Recreational Boat Market (2022-2028; Units)
3: US Recreational Boat Market Segmentation Data
US: Projected Revenue by Type (2022-2028); (Revenue $BN)
Type Snapshot
Outboard boats
Inboard/Sterndrive boats
Personal Watercrafts
Superyachts
Other Boats
US: Projected Volume by Type (2022-2028); (Units)
Type Snapshot
Outboard boats
Inboard/Sterndrive boats
Personal Watercrafts
Superyachts
Other Boats
US: Projected Revenue by Power (2022-2028; (Revenue $BN)
Power Snapshot
Engine-powered boats
Manual-powered boats
Sail-propelled boats
US: Projected Volume by Power (2022-2028; (Units)
Power Snapshot
Engine-powered boats
Manual-powered boats
Sail-propelled boats
US: Projected Revenue by Activity (2022-2028; (Revenue $BN)
Activity Snapshot
Cruise Tourism
Watersports
Fishing
US: Projected Volume by Activity (2022-2028; (Units)
Activity Snapshot
Cruise Tourism
Watersports
Fishing
US: Projected Revenue by Boat Size (2022-2028; (Revenue $BN)
Boat Size Snapshot
30-50 Feet Boats
o< 30 Feet Boats
>50 Feet Boats
US: Projected Volume by Boat Size (2022-2028; (Units)
Boat Size Snapshot
30-50 Feet Boats
o< 30 Feet Boats
>50 Feet Boats
4: US Recreational Boat Market Prospects & Opportunities
US Recreational Boat Market Trends
US Recreational Boat Market Drivers
US Recreational Boat Market Constraints
5: US Recreational Boat Market Industry Overview
US Recreational Boat Market - Competitive Landscape
US Recreational Boat Market - Key Players
US Recreational Boat Market - Other Prominent Vendors
For more information about this report visit https://www.researchandmarkets.com/r/16yszd
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