Selbyville, DE -- (SBWIRE) -- 11/13/2018 -- Recreational Boating Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024. 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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Global recreational boating market is anticipated to exceed USD 230 billion over the forecast timeframe. 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.

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 over the forecast time frame.

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.

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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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.

Few noticeable participants of recreational boating market include Azimut-Benetti, Hunter, Malibu Boats, Ferretti, Brunswick, Sunseeker, MacGregor, American Sail Inc. Other key companies are Catalina Yachts, Bavaria Yachtbau, Hobie Cat Corporation and Princess Cruise are significantly contributing the market share. These companies are focusing on installing and improving navigational and surveillance technologies in these products to achieve secure & safe individual marine experience during the forecast period.

Table of Content:

Chapter 1. Recreational Boating Market Methodology and Scope

Chapter 2. Recreational Boating Market Executive Summary

Chapter 3. Recreational Boating Industry Insights

Chapter 4. Recreational Boating Market, By Product

Chapter 5. Recreational Boating Market, By Power

Chapter 6. Recreational Boating Market, By Region

Chapter 7. Recreational Boating Market Company Profiles

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Related Report:

U.S. Recreational Boating Market Size By Product, By Power Industry Analysis Report, Country Outlook Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Rising customer spending for leisure activities and nautical tourism are driving the U.S. recreational boating 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.

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