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CHICAGO, March 17, 2020 /PRNewswire/ -- According to Arizton's recent research report, Recreational Boat Market - Global Outlook and Forecast 2020-2025is expected to grow at a CAGR of approximately 12% during the period 20192025. Key Highlights Offered in the Report: Propelled by the growing demand in developed countries such as the US and the UK, global outboard boat market is expected to register a CAGR of over 9% in terms of revenue during the period 20192025. The personal watercraft (PWC) segment is expected to witness incremental growth of over $2 billion in terms of revenue during the forecast period. The growing adoption of luxury lifestyle in Europe, the market in this region is likely to generate immense opportunities for vendors, posting a CAGR over 10% by 2025. North America has emerged as the largest market occupying over 50% share of the global recreational boat market. The increase in family tour boat rental practices would boost demand during the expected period. 4-stroke engines are likely to retain supremacy due to high-power output and reduced environmental impact. Cruising activities is expected to drive the recreational boat market, accounting for a CAGR over 11% during the forecast period. Key Offerings: Market Size & Forecast by Revenue | 20192025 Market Dynamics Leading trends, growth drivers, restraints, and investment opportunities Market Segmentation A detailed analysis by product, power, activity, and geography Competitive Landscape Profile of 5 key vendors and 33 other vendors Get your sample today! https://www.arizton.com/market-reports/recreational-boat-market-size-analysis-2025 Recreational Boat Market Segmentation Inboard boats are a relatively higher price than outboard models, which have significantly affected the growth of the segment. Although the market growth in terms of unit shipment despite several challenges in the past five years, the inboard segment continues to account for the largest revenue share. A spurt of tourism across the globe has boosted the sale of sail-powered boats. The increasing youth participation in sports and leisure activities and rising health awareness are driving the segment. The ocean cruise ship capacity is likely to increase by 48% from 2018 to 2027, which is expected to provide the push to the cruise industry. These activities are expected to push the sale of recreational boats across the globe. Market Segmentation by Product Outboard Inboard/Sterndrive Personal Watercrafts (PWC) Superyachts Others Market Segmentation by Power Engine-powered Man-powered Sail-propelled Market Segmentation by Activity Cruising Watersports Fishing Recreational Boat Market Dynamics With the advancement in technology, the market for electric boats has witnessed significant growth over the past two years. Electric boats, particularly hybrid ones where the electric motor doubles as a mechanically spun generator, is now experiencing more uptake in the leisure sector but has historically been more prevalent in working boats. Additionally, developed regions such as Norway, one of the key countries for recreational boats, has significantly begun adopting electric-powered boats in its infrastructure plans. With the rising popularity of autonomous ships, the technology is moving forward, especially in Norway. Key Drivers and Trends fueling Market Growth: Advancements in Marine Technology Expected Growth in Consumer Confidence Rising Demand for Outboard Power Boats Rising Participation in Leisure Boating Activities in Europe Recreational Boat Market Geography The presence of major manufacturing facilities in the region is a major driver for the growth of the US recreational boat market. With rising consumer confidence, the manufacturers are introducing new products to attract the younger generation. New sales and recreational boating expenditure grew for the eighth consecutive year in 2019, and this trend is expected to continue in 2020. Low-interest rates, rising disposable income, consumer spending, and healthy growth in the housing market are expected to have a positive impact on leisure activities during the forecast period. The recreational boat market in North America accounts for than 75% share of the global market through sales of new and used boats; marine products such as engines, trailers, equipment, and accessories; and related expenses such as fuel, insurance, docking, storage, and repairs. Get your sample today! https://www.arizton.com/market-reports/recreational-boat-market-size-analysis-2025 Market Segmentation by Geography APAC China Japan Australia New Zealand South Korea India Malaysia Europe UK Germany France Italy Spain Netherlands Norway Poland Latin America Brazil Mexico Argentina MEA UAE South Africa North America US Canada Major Vendors Brunswick Corporation Groupe Beneteau Azimut-Benetti Group Bombardier Recreational Products Ferretti Other vendors include - Princess Yachts, Marine Products Corporation, MCBC Holdings Inc., Malibu Boats Inc., Hanseyachts, BAVARIA Yachtbau, Bertram Yachts, Boston Whaler Boats, Chaparral Boats, Grady-White Boats, Lund Boat Company, White River Marine Group, Yamaha Motor Corporation, Viking Yacht, Grand Banks Yachts, Porter, Maverick Boat Group Inc, Correct Craft, Baja Marine, Pacific Asian Enterprises, Albemarle Boats, Marlow Hunter, Catalina Yachts, Hobie Cat Corporation, Zodiac Marine & Pool SAS, Sunseeker International, Fountain Powerboat Industries Incorporated, Godfrey Marine, Thunder Jet, Explorer Industries, Custom Weld, Duckworth Boats, and High Calibe. Explore our consumer goods & retail technology profileto know more about the industry. Read some of the top-selling reports: Ground and Cargo Handling Services Market - Global Outlook and Forecast 2020-2025 Glamping Market in Europe - Industry Outlook and Forecast 2020-2025 Camping Tent Market - Global Outlook and Forecast 2020-2025 Refrigerated Trucking Market in the US and Canada - Industry Outlook and Forecast 2020-2025 About Arizton: Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports. Mail: [emailprotected]Call: +1-312-235-2040 +1-302-469-0707 SOURCE Arizton Advisory & Intelligence

Answer: The Global Recreational Boat Market to Reach Revenues of Over $56 Billion During the Period 2020 2025 - Market Research by Arizton