Pune, Maharashtra -- (SBWIRE) -- 07/26/2023 -- The Recreational Boats Market study with 65+ market data Tables, Pie charts & Figures is now released by HTF MI. The research assessment of the Market is designed to analyze futuristic trends, growth factors, industry opinions, and industry-validated market facts to forecast till 2029. The market Study is segmented by key a region that is accelerating the marketization. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. Some of the players studied are Groupe Beneteau (France), Brunswick Corporation (United States), Azimut-Benetti Group (Italy), Ferretti S.P.A. (Italy), Marine Products Corporation (United States), Carnival Corporation & plc (United States), Royal Caribbean Cruises Ltd. (United States), Norwegian Cruise Line Holdings Ltd. (United States), MCBC Holdings (United States), Malibu Boats (United States).
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According to HTF Market Intelligence, the Global Recreational Boats market to witness a CAGR of 8.80% during forecast period of 2023-2029. The market is segmented by Application (Fishing, Sport Transportation, Travel & Tourism, Others) by Boat Type (Outboards, Inboards/Sterndrives, Personal Watercraft, Sail Boats/Yachts, Inflatable Boats, Others) by Material (Fiberglass, Wood, Metal {Aluminum, Stainless Steel, Others}, Inflatable, Ferrocement, Others) by Power (Engine-Powered, Man-Powered, SailPropelled) and by Geography (North America, South America, Europe, Asia Pacific, MEA).
Definition:
Recreational boats are also known as pleasure craft boats, which is designed for fun on the water surface. It is used by many individuals for fun and pleasure activities during an outing with friends and family. The recreational boat is used for many activities such as fishing, water sports game, boat racing, campaigning, and sailing, among others. The growing tourism industry is one of the major factor contributing to the growth of the market.
Market Trends:
- Recreational Boats with New Features and Styling
Market Drivers:
- Rising Disposable Income Has Resulted In Increased Travel and Tourism Activities across the Globe
- The Increasing Participation in Leisure Boating Activities across the European and US Regions
- Growth of the Asian Yachting Industry
- Rising Spending On Recreation and Leisure Activities
Market Opportunities:
- Technological Advancements in Marine Industry
- Growth of Hybrid and Electric Boat Engines
Recreational Boats Market Competitive Analysis:
Know your current market situation! Not just new products but ongoing products are also essential to analyze due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: Groupe Beneteau (France), Brunswick Corporation (United States), Azimut-Benetti Group (Italy), Ferretti S.P.A. (Italy), Marine Products Corporation (United States), Carnival Corporation & plc (United States), Royal Caribbean Cruises Ltd. (United States), Norwegian Cruise Line Holdings Ltd. (United States), MCBC Holdings, Inc. (United States), Malibu Boats, Inc. (United States)
Additionally, Past Recreational Boats Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
Segmentation and Targeting:
Essential demographic, geographic, psychographic, and behavioral information about business segments in the Recreational Boats market is targeted to aid in determining the features the company should encompass in order to fit into the business's requirements. For the Consumer-based market - the study is also classified with Market Maker information in order to understand better who the clients are, their buying behavior, and patterns.
Recreational Boats Product Types In-Depth: Outboards, Inboards/Sterndrives, Personal Watercraft, Sail Boats/Yachts, Inflatable Boats, Others
Recreational Boats Major Applications/End users: Fishing, Sport Transportation, Travel & Tourism, Others
Recreational Boats Major Geographical First Level Segmentation:
- APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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