The U.S. recreational boating market is set to grow from its current market value of more than USD 20 billion to over 28 billion. As the presence of a robust economy continues to bolster the boating expenditures and new boat sales, the overall capital expenditure and manufacturing optimism are likely to be at its best - marking one of the strongest periods on record for the U.S. recreational boating industry expansion. The growth trajectory of U.S. recreational boating market is further expected to register healthy gains as the industry players are thriving to bring new technologies, products, and collaboration across all the segments. Enumerated below are some recent initiatives that are bound to proliferate the commercialization matrix of the U.S. recreational boating industry.

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The world’s leading yacht manufacturer Azimut Benetti Group has recently made it to the headlines for starting its operation in Georgia. Presumably, its entry marks significant contribution in the regional economy, while also revolutionizing the boat building industry. Reports claim that Azimut Benetti, a leader in boat production has the most expensive sales network in the boating market across the globe, with 138 sites in 68 countries.

The agreement is also poised to benefit the country with substantial rise in visitors and tourists interested in water & sport activities, in turn fueling the U.S. recreational boating market. The operations in Georgia are also expected to witness advancements in electric seats, large frameless windows, and walnut interiors that will allow passengers to focus more on the recreational activities.

According to reports, Brunswick Corporation has recently completed its $910 million acquisition of Power Products’ Global Marine & Mobile business, that includes the specialty vehicle, industrial power, global marine, and transportation aftermarket products of Power Products. For the record, Power Products, is a leading provider of battery and electrical products for the specialty and recreational vehicles market.

Crestliner, an Otsego-based manufacturer of premium fishing, utility, fish & sport, and hunting boats has recently announced that it will be adding the new Sprint Series to its popular pontoon line-up. The Sprint is ideal for novice boaters and comes nearly a year after the company’s comeback in the pontoon market with the successful Rally Series. Considering the rising level of interest in the pontoons for relishing water sports and other activities such as fishing and cruising, Crestliner is expected to draw notable remuneration from the expanding U.S. recreational boating market. Reportedly, the Sprint Series will be available in three sizes ranging from 16, 18, and 20 feet, and will come in two layouts - Fish & Cruise and Cruise.

Besides from the significant contribution made by the leading companies, U.S. recreational boating market trends are also likely to transform with considerable government support to upgrade and maintain boating infrastructure. The U.S. Fish and Wildlife Service, for instance, has announced grants worth USD 14 million in 2015 to maintain the boating infrastructure & support the manufacturers. Driven by such supportive initiatives and escalating product demand, the U.S. recreational boating industry is certain to take a deeper dive in terms of the revenue landscape.

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Data Tables

TABLE 1 U.S. recreational boating industry 360º synopsis, 2013 - 2024

TABLE 2 U.S. recreational boating market, 2013 - 2017, (Units)

TABLE 3 U.S. recreational boating industry, 2018 - 2024, (Units)

TABLE 4 U.S. recreational boating market, 2013 - 2017, (USD Million)

TABLE 5 U.S. recreational boating industry, 2018 - 2024, (USD Million)

TABLE 6 U.S. recreational boating estimates by state, 2013 - 2017 (Units)

TABLE 7 U.S. recreational boating estimates by state, 2018 - 2024 (Units)

TABLE 8 U.S. recreational boating estimates by state, 2013 - 2017 (USD Million)

TABLE 9 U.S. recreational boating estimates by state, 2018 - 2024 (USD Million)

TABLE 10 U.S. recreational boating industry estimates by product, 2013 - 2017 (Units)

TABLE 11 U.S. recreational boating market estimates by product, 2018 - 2024 (Units)

TABLE 12 U.S. recreational boating industry estimates by product, 2013 - 2017 (USD Million)

TABLE 13 U.S. recreational boating market estimates by product, 2018 - 2024 (USD Million)

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