Please select your home edition
Edition
North Sails 2019 - NSVictoryList - Leaderboard

U.S. recreational boating market to go past $28bn mark by 2024

by Global Market Insights, Inc. 28 Feb 04:04 PST
U.S. recreational boating market to go past $28bn mark by 2024 © Global Market Insights, Inc.

The United States recreational boating market is predicted to rise from USD 20 billion in 2017 to around USD 28 billion by 2024, according to a Global Market Insights, Inc. report.

Rising customer spending for leisure activities and nautical tourism are driving the market share. The escalating participation in water sports activities across the country including canoeing, kayaking, fishing, etc. is strengthening the business size over the projected time frame.

Active support from the government to promote excursion boating will positively influence the U.S. recreational boating market growth. Introduction of multiple incentives such as the Boating Infrastructure Grant by the United States Fish & Wildlife Service will expand the production and adoption of boats over the study timeframe. Request for a sample of this research report here

The outboard boats will capture a volume share of over 71% by 2024. The dominance can be credited to the several advantages such as easier maintenance and maneuvering capabilities of these water crafts. The enhanced cockpit space as compared to counter parts will further boost the recreational boating market demand over the forecast time frame.

The engine powered boats will witness growth rate of almost 4% till 2024 due to the increasing penetration of PWCs, inboard, and outboard for recreational boating. These boats are available in multiple engine specification alternatives with a wide range of fuel types including petrol, diesel, ethanol, hybrid, and electric favoring the business growth.

Increasing number of accidents and high initial costs of the boats may hamper the United States recreational boating market. For instance, as per the USCG, in 2017 total causalities accounted for 658 owing to various reasons including drowning, absence of life jacket, collision with other vessels, and grounding, among others. Make an Inquiry for purchasing this report here

Florida recreational boating market will generate approximately USD 3 billion over the forecast timeframe. Stringent government regulations mandating safety equipment in boats enhances consumer confidence for adopting such boats in the state. Further, the boat shows organized across the state to promote next generation technologies will further proliferate the states revenue.

The U.S. recreational boating market participants include Bavaria Yachts, American Sail Inc., Brunswick Corporation, Azimut-Benetti Group, Groupe Beneteau, and Catalina Yachts. The players are engaged in mergers and acquisitions to maintain their market share and increase revenue.

Browse key industry insights spread across 175 pages with 219 market data tables & 11 figures & charts from the report, "U.S. Recreational Boating Market Size By Product (Inboard Boats, Outboard Boats, Inflatable, Sail Boats, Personal Watercrafts), By Power (Engine-Powered, Man-Powered, Sail Propelled), Industry Analysis Report, Country Outlook U.S. (Florida, Minnesota, Michigan, California, Wisconsin, Texas, New York, South Carolina, Ohio, North Carolina), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 2024" in detail along with the table of contents.

Browse Full Table of Contents (ToC) here

Related Articles

It's all about events and industry awards
Peter Rendle's latest North American MarineBusinessWorld.com newsletter We start with the report on IBEX which was a resounding success from all accounts. The 29th International BoatBuilders' Exhibition and Conference (IBEX) closed on Thursday, October 3rd with early indications that attendance figures were up from last year. Posted on 9 Oct
Hurricane protection advice as Dorian approaches
Peter Rendle's latest North American MarineBusinessWorld.com Newsletter As Hurricane Dorian hits the Bahamas on its way to mainland USA, we include a timely reminder of what to do to protect vessels moored in the path of such an event. BoatUS offers the following information. Posted on 3 Sep
More positive news from the boating industry
Peter Rendle's latest North American MarineBusinessWorld.com Newsletter NMMA's New Powerboat Registration Report has been updated with data through May. Preliminary data from the report shows new powerboat registrations were up 3.3 percent through May on a rolling 12-month year-over-year basis. Posted on 26 Jul
New England Ropes names Tideline Marketing as rep
Tideline Marketing to represent New England Ropes on East Coast New England Ropes is proud to announce that Tideline Marketing will now represent New England Ropes Pleasure Marine products throughout the east coast region. Posted on 16 Jul
Market players need to prioritize boat offerings
The outboard engines market is expected to grow at a CAGR of around 2% As per the key insights of a research, the global outboard engines market is estimated a substantial growth during the forecast period of (2019 -2029), owing to factors such as growing marine tourism, advanced features of outboard engines Posted on 7 Jul
The marine industry is truly global
Peter Rendle's latest North American MarineBusinessWorld.com Newsletter Thanks to all those industry members who wrote to let us know that our inaugural monthly e-newsletter was amicably received. Please add our email address to your mailing list for your business news. Posted on 20 Jun
First N. America Marine Business World newsletter
Aims to update the marine industry across a broad section of topics The site is unaffiliated to any other marine trade organisation and aims to update the marine industry across a broad section of topics including company news, new products, personnel changes, events and awards. Posted on 15 May
Famous boat builder set to create more pearls
Oyster Yachts announce a new owner and management team It is always disappointing to hear of an international brand running into financial trouble. And so it was with Oyster, the UK boat builder recently being placed in receivership. Posted on 22 Mar 2018
US Trade Policy not a damper
On Australian Boat Builders While Donald Trump considers trade tariffs on imported commodities Australian Boat builders vigorously pursue the North American market. Posted on 8 Mar 2018
Melges IC37 2019 FooterNorth Sails 2019 - NSVictoryList - FooterVaikobi 2019AUG - Footer 1