Recreational Boating Market – North America to account 50% volume share by 2024
SELLBYVILLE, Del., May 17, 2018 /PRNewswire-iReach/ — According to a latest research report by Global Market Insights, Inc. “Recreational Boating Market is predicted to be valued USD 230 billion by 2024.” Increasing promotional activities of tourist’s sports coupled with travel & tourism industry growth are primary factors boosting recreational boating market share during forecast time frame. Rising disposable income has resulted in an upsurge of traveling and adventure sports.
Remarkable increase in global urban population and acceleration in personal consumption expenditure has resulted in huge spending in niche tourism such as leisure, recreational and sports boating. Upsurge in activities including boat racing, sailing, and campaigning activities are continuously encouraging product demand. Manufacturing companies are focusing on improving recreational boat production further improving the business growth over the forecast time frame.
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Growth in tourism and traveling industry particularly among the countries includes UAE, Saudi Arabia, and Egypt are generating excellent products demand. Adventure sports have become a prominent factor for tourist attraction in the region. Proliferating economic development along with increasing infrastructure development will positive influence the product penetration.
Manufacturing companies are focusing on technological advancements by implementing Global Navigation Satellite Systems (GNSS) for the crew & passenger safety. National Oceanic and Atmospheric Administration (NOAA) of U.S. Department of Commerce is providing safety technology now COAST, a web mapping portal utilized in real-time coastal observations, forecast, and warnings for pilots of recreational and commercial boats. Incorporating these systems are highly benefited for the fishing vessel for control, search and rescue activities along with waterways traffic management and overall sea surveillance supporting recreational boating market size.
Outboard boat market is anticipated to contribute over USD 135 billion by 2024. Shifting consumer preference owing to benefits including more space along with more interior stowage in the boats is instigating strong product demand. Cost effectiveness, less maintenance and high reliability will result in segment growth over the forecast timeframe.
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In 2016, engine powered segment generated revenue over USD 145 billion. Increasing usage in inboard and outboards boats in developed countries including the U.S., Japan, and Russia generating product demand during forecast time frame.
North America recreational boating market will witness high growth owing to developed water sports industry and increasing number of sailing, leisure, and sports activities. Prominent marine industry particularly in the U.S. and Canada coupled with active participation in the region will positively stimulate industry size over the forecast time frame.
Europe recreational boating market is likely to register significant growth. over the study timeframe. Manufacturers are focusing on rising boat production particularly in the country including Italy will significantly contribute business growth. Companies in the region are focusing on increasing international trade by exporting products in developing countries to improve product visibility and achieve superior profit margins. Availability of skilled labor force to deliver better quality boats are the key factors propelling recreational boating industry share during forecast time frame.
Buy this industry insights spread across 250 pages with 350 market data tables & 10 figures & charts from the report, “Recreational Boating Market Size By Product (Inboard Boats, Outboard Boats, Inflatable, Sail Boats), By Power (Engine-Powered, Man-Powered, Sail Propelled), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Netherlands, Poland, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Egypt, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024″ in detail along with the table of contents:
Chapter 4. Recreational Boating Market, By Product
4.1. Global recreational boating market share by product, 2016 & 2024
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4.1. Global market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Sail boats
4.5.1. Global market estimates and forecasts, 2013 – 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Recreational Boating Market, By Power
5.1. Global recreational boating market share by power, 2016 & 2024
5.2. Engine powered
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Man powered
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Sail propelled
5.4.1. Global market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/recreational-boating-market
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SOURCE Global Market Insights, Inc.