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Global Leisure Boat Market to grow as a result of Advancement in Tourism Industry

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Published on : Apr 28, 2016

ALBANY, New York, April 28, 2016: This report throws light on the development of the market for leisure boats and also discusses the growth drivers, trends, and issues impacting the market. The report has been collated through interviews with top industry officials. A number of comprehensive surveys have also been conducted for the compilation of this report. The competitive landscape section of the report provides information on the major players operating in the market, coupled with presenting their key growth strategies and key financials. 

The report starts by presenting a market overview, in which the definition and classification of leisure boats have been presented. There are majorly two types of leisure boats, namely construction-based leisure boats and activity-based leisure boats. A leisure boat or pleasure craft is a kind of boat majorly used for family, sportsmanlike, and personal recreation. It is a large motorboat comprising of a cabin and other amenities needed for a comfortable stay on board. These types of boats or watercrafts are motorized and are used for the purpose of vacationing in or passing through a canal, lake, waterway, or a river. The market for leisure boats gained inertia due to the global recession in 2009 and since then, this market has experienced a number of ups and downs.

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The next section of the report throws light on the value chain and regional analysis of the leisure boat market. The regional segmentation covers the Americas leisure boat market. The U.S leisure boat market, the U.S recreational boat market, and the U.S boat retail sales have been discussed. As stated in the study, Europe and North America emerged as the largest consumers and producers in the boating market. However, in the coming years, the Europe recreational boating market is predicted to grow exponentially as compared to that in North America. Within North America, the U.S. recreational boat market holds the largest share. Within Europe, nations such as Croatia, Belgium, Germany, and the Czech Republic are the top recreational boating markets. The sales of recreational boats by both volume and value within Canada, another major market, have also been highlighted under this section of the study.

In the fourth chapter of the report, the market dynamics affecting the market have been discussed. The increasing economic development, the rising population of high net worth individuals (HNIs), and the advancement in the tourism industry are amongst the prime factors fuelling the growth of the market for leisure boats. In addition, the rising penetration of boats and the reduction in the prices of fuel will also augment the market’s growth. On the other hand, the increasing environmental problems, the dearth of boat moorings, and the increasing competition from other leisure activities are amongst the chief factors that may inhibit the market’s growth.

The competitive landscape section of the report highlights the industry share of the global recreational boating industry and the brand positioning of the U.S and the European yacht market. This section also entails the company profiles of the prime players. Some of these prime players are Malibu Boats, Inc., Brunswick Corporation, and Marine Products Corporation, among others.

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