Recreational Boating Market Growth to be Driven by Emerging Trends | $46.66 Billion by 2029

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What is the Projected Market Size of the Recreational Boating Industry?
The size of the recreational boating market has been on a steady rise over the past few years. This market is projected to escalate from $32.87 billion in 2024 to $34.94 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this historical expansion encompass economic advancement and available personal income, a surge in boating tourism and leisure pursuits, the charm of properties situated near the water, shifts in demographics and lifestyle tastes, along with environmental rules and sustainable practices.

What Will Be the Size of the Recreational Boating Market by 2029?
The market size of recreational boating is projected to witness robust growth in the coming years, reaching a value of $46.66 billion in 2029 and posting a compound annual growth rate (CAGR) of 7.5%. The predicted growth during this forecast period is due to various factors including innovative rental and sharing services, market broadening and international expansion, strict safety and regulatory standards, changes in demographic patterns and lifestyle preferences, and an increase in the popularity of boating tourism. Dominant trends foreseen during this time frame entail electric propulsion technology, incorporation of intelligent technology, an upswing in water sports and activities, creative design and styling, and wellness and comfort features.

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What Are the Key Drivers Accelerating Growth in the Recreational Boating Market?
The expansion of the tourism industry is a major catalyst for the growth of the recreational boating market. Often referred to as the travel industry, this sector deals with individuals travelling, either locally or internationally, for leisure, business, or sociable reasons. It has deep-rooted connections with the hotel, hospitality, and transport sectors, with a large focus on ensuring tourists have an enjoyable, satisfying, and well-equipped experience while away from home. For instance, as per the report released by UN Tourism, a Spain-based United Nations agency, in July 2024, about 790 million tourists had traveled internationally in the first seven months of the year 2024, marking an 11% increase compared to 2023. Consequently, the escalating tourism industry propels the growth of the recreational boating market.

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How Is the Recreational Boating Market Segmented by Type, Application, and Region?
The recreational boating market covered in this report is segmented -

1) By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Boats
2) By Engine Placement: Outboards, Inboards, Other Engine Placements
3) By Material Type: Aluminum, Fiberglass, Steel, Other Materials
4) By Boat Size: Up to 20 Ft., 21 Ft. to 35 Ft., 36 Ft. to 50 Ft.
5) By Activity Type: Cruising, Water Sports, Fishing

Subsegments:
1) By Yachts: Sailing Yachts, Motor Yachts, Catamarans
2) By Sailboats: Daysailers, Cruisers, Racing Sailboats
3) By Personal Watercrafts: Stand-Up PWC, Sit-Down PWC, Sports PWC
4) By Inflatables: Inflatable Boats, Inflatable Paddleboards, Inflatable Kayaks
5) By Other Boats: Fishing Boats, Pontoon Boats, Cabin Cruisers

What Are the Key Trends Driving Growth in the Recreational Boating Market?
The development of novel products is a rising trend in the recreational boating market. Firms are creating new items to bolster this sector. The launch of such products enables businesses to broaden their product range, attract fresh clientele, and boost their presence in the market. Take for example, in February 2024, the marine propulsion firm based in the USA, Mercury Marine, unveiled their Joystick Steering for Single-Engine Vessels. What makes this joystick steering system stand out is its specific design for single-engine boats, particularly those propelled by Verado outboard engines that range from 250 to 600 horsepower. The system has a single-touchpoint user interface for throttle, shift, and steering, which allows for ergonomic operation with just one hand. This offering is a part of the wider range of joystick systems developed by Mercury to cater for different boat types, including those with sterndrives and multiple outboard setups.

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Who Are the Leading Companies Driving Growth in the Recreational Boating Market?
Major companies operating in the recreational boating market include Lowe Boats, Yamaha Motor Co Ltd., Polaris Inc., Brunswick Corporation, Groupe Beneteau, Malibu Boats, Ferretti Group, Sea Ray, Mastercraft Boat Holdings Inc., Azimut Benetti Group, Marine Products Corporation, Nitro Boats, Hobie Cat Company Inc., Boston Whaler, Lund Boats, White River Marine Group, Grady-White Boats, Regal Boats, Ranger Boats, Sunseeker International Limited, Baja Marine, Correct Craft, Bayliner, Chaparral Boats, Pacific Asian Enterprises, Fairline, Bavaria Yachtbau, Albemarle Boats, Crestliner Boats, Tracker Boats

Which Is the Leading Region in the Global Recreational Boating Market?
North America was the largest region in the recreational boating market in 2024. The regions covered in the recreational boating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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