QYR Consulting

Recreational Boats Market Business Strategies and Opportunities with Key Players Analysis 2019-2025

 

Los Angeles, CA -- (SBWIRE) -- 12/24/2019 -- Increased spending on boats and traveling by recreational and professional enthusiasts is one of the significant reasons behind the growth of the Recreational Boats market. The market has been undergoing technological innovations in the boats and incorporation of features such as joystick controls, virtual anchors, and digital dashboards. This could eventually create robust demand for Recreational Boats among the enthusiasts and experienced boaters. Despite tariffs on steel and aluminum, Recreational Boating is gaining immense recognition in the US. Besides, it contributes a substantial amount to the economic growth of this country.

Market Participants to Strengthen their Position with Technological Advancements

Some of the major market players functioning in the Recreational Boats market are Ferretti S.P.A. (Italy), Brunswick Corporation (U.S.), Azimut-Benetti Group (Italy), MCBC Holdings, Inc. (U.S.), Malibu Boats, Inc. (U.S.), Maverick Boat Group, Inc. (U.S.), Groupe Beneteau (France), Porter, Inc. (U.S.), Carnival Corporation & plc (U.S.), Norwegian Cruise Line Holdings Ltd. (U.S.), Royal Caribbean Cruises Ltd. (U.S.), Grand Banks Yachts Ltd. (Singapore), Grady-White Boats, Inc. (U.S.), Correct Craft (U.S.), Marine Products Corporation (U.S.), Pacific Asian Enterprises (U.S.), Baja Marine (U.S.), Albemarle Boats (U.S.), and Sunseeker International Limited (U.K.).

Get PDF template of this report: https://www.qyrconsulting.com/request-sample/8243

Traveling or Watersports Activities to Act as a Key Driver in the Recreational Boats Market

Surge in the participation in recreational boating for traveling or activities such as fishing and water skiing is one of the important reasons behind increased demand for Recreational Boats. Growing coastal and maritime tourism is also likely to contribute to the overall Recreational Boats market size. It has been observed that the manufacturers are offering innovative products with additional features that appeal the consumers with different budgets and interests, including watersports, fishing, and cruising, thereby generating demand for Recreational Boats.

Market Segmentation

By Type

? Inboard and Sterndrive Boats

? Outboard

? Sailboats

By Material

? Fiberglass

? Wood

? Inflatable

By Application

? Fishing

? Travel and Tourism

? Defense

The demand for outboard boats is likely to witness a surge on account of their performance, easy maintenance, and cost effectiveness. In addition, they allow more room for the activities. The market analysts have predicted that the usage of fiberglass in manufacturing Recreational Boats is expected to increase owing to its lower production cost and high strength as compared to other material types. As far as the application is concerned, Recreational Boats are likely to widespread usage for fishing purposes.

Recreational Boating has emerged as one of the popular outdoor recreation activities in the US. Demand for luxury cruisers is expected to be in this country. Besides that, improved economic growth of the US has offered consumers financial flexibility to buy a first new boat or upgrade from an older vessel. Low interest rates are eventually making the credit more affordable for the boat buyers. Furthermore, strong manufacturing base in the US could foster the Recreational Boats market growth in North America.

For More Inquiry to Buy the Report: https://www.qyrconsulting.com/checkout/8243

About QYR Consulting
QYR Consulting established as a research firm in 2007 and have since grown into a trusted brand amongst many industries. Over the years, we have consistently worked toward delivering high-quality customized solutions for wide range of clients ranging from ICT to healthcare industries. With over 50,000 satisfied clients, spread over 80 countries, we have sincerely strived to deliver the best analytics through exhaustive research methodologies.