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Recreational Boating Market Trends

  • Report ID: GMI2076
  • Published Date: Jun 2024
  • Report Format: PDF

Recreational Boating Market Trends

The market is currently experiencing significant shifts driven by technological innovation and evolving consumer preferences. One prominent trend is the increasing adoption of electric propulsion systems, which offer boaters quieter operation, lower emissions, and reduced maintenance compared to traditional engines. This transition aligns with growing environmental awareness and regulatory pressures for cleaner technologies in marine transportation.
 

For instance, In April 2024, Yamaha unveiled their electric outboard motor, marking a significant step in advancing eco-friendly boating technologies. The new motor aims to offer boaters a sustainable alternative with reduced noise and emissions, aligning with global trends towards cleaner marine propulsion solutions. This innovation underscores Yamaha's commitment to environmental stewardship and meeting the evolving demands of modern boaters for more efficient and eco-conscious boating options.
 

There is a rising interest in hybrid solutions that combine electric and conventional power sources, providing boaters with flexibility in range and fuel options. This trend reflects a desire for both efficiency and reliability, catering to diverse boating needs from leisure cruising to more demanding applications. Alongside propulsion advancements, there is a notable emphasis on smart and connected features, sustainable materials, and personalized customization options, all contributing to a dynamic and forward-thinking market poised for continued growth and innovation.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of recreational boating reached USD 39.7 billion in 2023 and is set to witness over 10% between 2024 and 2032, led by increasing disposable incomes and the rising interest in outdoor leisure activities.

The outboard boats segment held over 60% share in 2023, owing to their versatility and ease of maintenance.

North America market accounted for 60% revenue share in 2023 and will attain 62% share by 2032, driven by the rise in disposable incomes and growing leisure tourism.

Klarna Inc, Afterpay Limited, Affirm Holdings Inc, PayPal Holdings Inc, Sezzle, Splitit Payments Ltd, Zip Brunswick Corporation, Ferretti S.P.A, Groupe BENETEAU, Malibu Boats, Inc, MasterCraft Boat Company, Inc, Polaris Inc, and Yamaha among others.

Recreational Boating Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 320
  • Countries covered: 21
  • Pages: 270
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