U.S. Recreational Boating Market: Top Key Players, Growth Forecast & Competitive Analysis, 2021-2024

In terms of power, the engine powered segment from the U.S. recreational boating market share will demonstrate a substantial growth rate of around 4% over 2018-2024 owing to the growing usage of engines in various boats such as outboard boats, PWCs, and inboard boats. Engines powered by petrol, diesel, and ethanol fuels offer options to consumers which are helping to surge the U.S. recreational boating industry revenue share. Strict regulations imposed by the U.S. Environmental Protection Agency will further lead to the introduction of electric and hybrid boats which will also play a major role in shaping U.S. recreational boating industry trends.
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The dominance of outboard boats in the U.S. recreational boating market can be credited to the various advantages such as maneuvering capabilities and easier maintenance of these watercrafts. The improved cockpit space in comparison with other counterparts will further offer boost to the recreational boating demand by 2024. Outboard boats are predicted to attain a volume share of more than 70% by 2024.
Due to the proliferating penetration of inboard, outboard, and PWCs for recreational boating, engine power boats are projected to enhance U.S. recreational boating industry outlook. These boats are available in multiple engine specification substitutes with a broad range of fuel types including diesel, petrol, ethanol, electric, and hybrid. Favoring the augmentation of engine power boats revenue share will further accelerate the U.S. recreational boating market growth. Engine powered boats are forecasted to observe growth rate of around 4% till 2024.
U.S. recreational boating market is expected to tread along a lucrative roadmap in the years ahead, given the rising prevalence of water-based recreational activities such as camping, sailing, fishing, cruising, and boating. Reliable statistics indicate that more than 87 million U.S. adults participate in the recreational boating activities every year, and there were more than 11.87 million recreational boating vessels registered in the U.S. in 2015. Analysts claim that the changing consumer lifestyles and rising disposable incomes of the middle-class population have been inherently impacting the U.S recreational boating industry share, which was pegged at USD 20.5 billion in 2017.
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.
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.
Some of the U.S. recreational boating market participants are American Sail Inc., Bavaria Yachts, Brunswick Corporation, Groupe Beneteau, Catalina Yachts, and Azimut-Benetti Group. The industry majors are involved in mergers and acquisitions to uphold their market share and expand revenue. For instance, in the year 2018, Brunswick Corporation acquired Power Products Global Marine & Mobile business which is estimated at almost $910 million. This purchase will complement company’s current portfolio with eleven latest brands reinforcing their position in transportation and marine aftermarket business.
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Some Point from Table of Contents:
Chapter 4.     U.S. Recreational Boating Market, By Product
4.1. U.S. recreational boating industry share by product, 2017 & 2024
4.2. Inboard
4.2.1.  Market estimates and forecasts, 2013 – 2024
4.2.2.  Market estimates and forecast, by state, 2013 – 2024
4.3. Outboard
4.3.1.  Market estimates and forecasts, 2013 – 2024
4.3.2.  Market estimates and forecast, by state, 2013 – 2024
4.4. Inflatables
4.4.1.  Market estimates and forecasts, 2013 – 2024
4.4.2.  Market estimates and forecast, by state, 2013 – 2024
4.5. Sail boats
4.5.1.  Market estimates and forecasts, 2013 – 2024
4.5.2.  Market estimates and forecast, by state, 2013 – 2024
4.6. Personal watercrafts
4.6.1.  Market estimates and forecasts, 2013 – 2024
4.6.2.  Market estimates and forecast, by state, 2013 – 2024
Chapter 5.     U.S. Recreational Boating Market, By Power
5.1. U.S. recreational boating industry share by power, 2017 & 2024
5.2. Engine powered
5.2.1.  Market estimates and forecasts, 2013 – 2024
5.2.2.  Market estimates and forecast, by state, 2013 – 2024
5.3. Man powered
5.3.1.  Market estimates and forecasts, 2013 – 2024
5.3.2.  Market estimates and forecast, by state, 2013 – 2024
5.4. Sail propelled
5.4.1.  Market estimates and forecasts, 2013 – 2024
5.4.2.  Market estimates and forecast, by state, 2013 – 2024
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