What are the Recreational Boating Market Sizes, Share, And Industry Forecasts

The global recreational boating market is expected to generate revenue of around $51 billion by 2025, growing at a CAGR of more than 3% during the forecast period. The demand for recreational boats has been increasing due to the rising popularity of water sports and fishing. Recreational boating includes activities such as sailing, yachting, canoeing, kayaking, and motorboating.

North America and Europe are the leading regions in the recreational boating market due to the presence of a large number of lakes and rivers.

Are you looking for information on the Recreational Boating market sizes, share, and industry forecasts? If so, then you have come to the right place. In this blog post, we will take a look at this information so that you can have a better understanding of the market.

According to reports, the global recreational boating market is expected to reach a value of $52.1 billion by 2025. This is an increase from $45.6 billion in 2020. The compound annual growth rate (CAGR) for this market is forecasted to be 3%.

When broken down by region, North America is expected to have the largest share of the market with 38%. This is followed by Europe with 24%, Asia-Pacific with 20%, and the rest of the world with 18%. The main drivers for this market are increasing disposable incomes, longer vacation periods, and a growing preference for outdoor activities.

In addition, there has been an increase in boat ownership as well as an uptick in demand for charter services. Some of the challenges that the industry faces include strict environmental regulations and seasonal fluctuations. If you are interested in learning more about this topic or if you are thinking about entering the Recreational Boating market, then be sure to do your research and stay up-to-date on all of the latest industry news.

What are the Recreational Boating Market Sizes, Share, And Industry Forecasts

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How Big is the Recreational Boating Industry?

The recreational boating industry in the United States is a $36 billion per year industry, according to the National Marine Manufacturers Association. This figure includes both powerboat and sailboat sales, as well as related products and services. The industry employs over 650,000 people nationwide.

There are an estimated 12 million recreational boats in use in the United States. The most popular type of boat is the powerboat, accounting for about 80% of all boats in use. Sailboats make up the remaining 20%.

According to a survey by Statista, 43% of Americans say they would like to own a boat someday. The boating industry has been growing steadily for several years. In 2016, there were 1.1 million new boat registrations in the United States, a 4% increase from 2015.

This growth is expected to continue in 2017 and beyond.

How Much is the Boat Industry Worth?

In 2018, the U.S. boat industry was valued at $36 billion. This includes both powerboats and sailboats. The majority of this value is in powerboats, which make up about 80% of the market.

The average cost of a new powerboat is around $50,000, while the average cost of a new sailboat is around $100,000.

How Many Recreational Boats are Sold Each Year?

Recreational boats are a big industry in the United States. Each year, Americans buy around 10 million new and used recreational boats. The most popular type of recreational boat is the outboard motorboat, which made up about 60% of all boats sold in 2018.

Other popular types include personal watercraft, pontoon boats, and sailboats.

How Many Recreational Boats are There in the World?

There’s no definitive answer to this question as it largely depends on how you define a recreational boat. For the purposes of this blog post, we’ll assume that a recreational boat is any vessel that’s used for leisure or pleasure, as opposed to commercial purposes. With that in mind, it’s estimated that there are around 30 million recreational boats in the world.

This includes everything from small dinghies and canoes to luxury yachts and houseboats. The majority of these boats are found in developed countries like the United States, Australia and Europe, where there’s a strong culture of boating and water recreation. Interestingly, the number of recreational boats in the world has been steadily declining over the past few years.

This is likely due to a combination of factors, including the global economic recession and increased regulation around boat ownership and operation.

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2022 Boating Industry Forecast

As we move into 2021, the boating industry is keeping a close eye on the forecast for the coming year. After a challenging 2020, many are hoping for a return to normalcy in 2021. Here’s a look at what experts are predicting for the boating industry in 2022:

Overall, the outlook for the boating industry is positive. Sales are expected to rebound after a decline in 2020 and continue to grow steadily through 2022. The main driver of this growth will be pent-up demand from would-be buyers who delayed their purchase last year.

Additionally, low interest rates and an improving economy will also help boost sales. One area of concern is the potential impact of new tariffs on boat prices. If implemented, these tariffs could add thousands of dollars to the price of a boat, making it out of reach for many consumers.

The good news is that negotiations between the U.S. and China are ongoing, so there’s still a chance that these tariffs will be averted. Another bright spot on the horizon is the continued expansion of boat sharing programs like Boatbound and FreedomBoatClub . These programs provide an affordable way to get out on the water without owning a boat, which could attract more first-time buyers to our industry.

All in all, things are looking up for boaters as we head into 2022!

Conclusion

The global recreational boating market is expected to grow at a CAGR of 3.5% from 2019 to 2026. The market was valued at USD 53.1 billion in 2018 and is projected to reach USD 69.3 billion by 2026. The growth of the market is attributed to the increase in disposable income, rise in living standards, and increased interest in water sports and other outdoor activities.

The Asia-Pacific region is anticipated to be the fastest-growing market for recreational boats during the forecast period, owing to the presence of large coastline areas, rise in tourism activities, and growing middle-class population with high disposable incomes. North America held the largest share of the global recreational boating market in 2018 due to well-established infrastructure facilities and favorable government policies related to maritime activities.

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