The thriving hospitality and tourism sector of Asian countries including Japan and Australia is driving the demand across the APAC recreational boating market. Japan and Australia to exhibit significant opportunities Since they are primarily used in lakes and small water bodies for fishing and other entertainment purposes, their popularity is expected to grow with the retraction of the pandemic induced lockdown. These boats are flat-deck boats consisting of multiple floating tubes or hulls. The pontoon boats segment in the Europe recreational boating market is expected to rise to prominence through 2026, on account of the improved features such as better comfort, optimal seating arrangement, and luxury offered by the manufacturers in their designs. Although the manufacturing units have had to undergo immense loss owing to the coronavirus pandemic, the production activities are gradually picking pace, corresponding to the increased demand.Īccess sample pages of the report, “ Europe Recreational Boating Market Forecasts 2026” in detail along with the table of contents (ToC) features of pontoon boats in Europe The growing employment opportunities have also been contributing to the expansion of the overall Europe recreational boating industry share.Īs per the Eurostat data, the EU-27’s gross household disposable income was estimated to be worth over $11,534.2 billion during 2018, an amount equivalent to three-quarters of the total GDP. The augmenting spending capacity of the British, German, and French population has enabled them to engage more in recreational boating and fishing. Joystick docking controls assist in maneuvering boats in case of extreme climatic conditions while at sea, ensuring the safety of passengers.Įxpanding disposable incomes of European populace Technological upgradations such as integration of joystick docking control, automatic trim controls, and digital throttle controls have been enhancing the riding experience of tourists. The outboard boats segment is anticipated to emerge as one of the most fertile areas for growth through the coming years, thanks to the integration of latest technologies across these watercrafts. Technological upgradation of outboard boats in America Additionally, the government investments in tourism have been fostering the market. The figure is expected to soar through the next decade. As per the StatCan data, the number of international tourists increased from 21.1 million in 2018 to more than 22.1 million the following year. The volume of tourist visits has been increasing every year in the country. As these boats require low upfront costs and ensure economic operations, the industry is certain to benefit from the segment in the long run.Īccess sample pages of the report, “ North America Recreational Boating Market Forecasts 2026” in detail along with the table of contents (ToC) tourism industry in Canada is responsible for the prosperity of the overall North America recreational boating market. Inflatable boats including inflatable kayaks are also widely utilized across water sports, excursions, and rescue operations. By 2026, the North America recreational boating market size will have augmented considerably owing to the growing availability of an array of models of watercrafts such as rubber rafts, lifeboats, inflatable kayaks, and rescue boats. The inflatable boats are expected to undergo a steady rise in terms of sale volume through the next few years. Increased adoption of inflatable boats across North America The seven key factors credited for the advancement of the global recreational boating market are as follows: The emergence of COVID-19 vaccines has sparked a ray of hope for the development of the industry worldwide. Despite the prohibition of outdoor activities due to the COVID-19 pandemic, the prospect of vaccination has ushered in fresh opportunities for the international recreational boating industry.īoat manufacturers faced enormous business challenges during the first two quarters of 2020, with a steep dip in sales owing to disrupted supply chain of raw materials and labor. The global recreational boating market size is estimated to witness a lucrative growth during the forecast period owing to the beneficial factors such as suitable geographical features including the presence of rivers, lakes, and beaches, as well as favorable climate, powerboating, water-skiing, surfing, and other watersports are gaining popularity, especially amongst the millennials. Major recreational boating market players include Porter Inc., Grady-White Boats, Winnebago Industries, American Sail Inc., Yamaha Motors, and Malibu Boats, Bavaria Yachtbau, Groupe Beneteau, and Brunswick Corporation.
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