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North America Recreational Boating Market Size By Product (Inboard Boats By Horsepower [Below 200 hp, 201 to 500 hp, 501 to 1000 hp, Above 1000 hp], Outboard Boats By Type [Center Console, Express Cruiser, Pontoon, Runabout Bowrider, Others] By Horsepower [Below 200 hp, 201 to 500 hp, 501 to 1000 hp, Above 1000 hp], Inflatables [Below 200 hp, 201 to 500 hp]), By Engine (Diesel, Gas), Research Report, Regional Landscape (U.S. and Canada), Growth Prospects, Competitive Industry Share & Forecasts, 2020-2026
Published Date: February 2021 | Publisher: Graphical Research Report ID: GR1641 | Delivery : PDF  Request Free Sample

North America Recreational Boating Market size valued at USD 23.5 billion in 2019 and is anticipated to expand at more than 5.5% CAGR from 2020 to 2026.

The market growth is owing to rising personal disposable income and spending capacity in the U.S. and Canada. According to the data published by the Bureau of Economic Analysis (BEA), in September 2020, the disposable personal income increased by 0.6% compared to August 2020. The presence of key players, such as American Sail Inc., Brunswick Corporation, Grady-White Boats, and Malibu Boats, in the region will fuel the market expansion. 
 

North America Recreational Boating Market

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The North America recreational boating industry has been significantly impacted owing to the COVID-19 health crisis. The manufacturing plants of various boat and engine manufacturers were temporarily shut down due to the pandemic. Manufacturers have faced several challenges including a large gap in demand and supply of boats, shortage of raw materials and labor, and disruptions in supply chain. Increasing financial insecurities among consumers is a prominent factor responsible for the decline in unit shipments of recreational boats in 2020. However, the market is expected to witness a steady growth subject to the revival of global economic conditions in 2021.

Growing consumer participation in marine recreational activities is providing lucrative growth opportunities for the market. Significant increase in the number of boat club memberships is poised to propel the market size through 2021. In December 2020, Freedom Boat Club announced the opening of its 250th location in the U.S. The club has reported a 61% increase in new member listings in the industry since 2018. A rapid increase in the demand for boats from these clubs will accelerate the market growth.

Market, By Product

The outboard boats segment is predicted to witness a significant growth during the forecast period, attributed to the technological advancements in these boats. The integration of features, such as joystick docking control, digital throttle controls, and automatic trim controls, is enhancing the boating experience for users. The joystick docking controls help in maneuvering boats in harsh climatic conditions at sea. Outboard boats have more interior space, fuel economy, and are lightweight in nature.

Market, By Engine

The diesel recreational boats will register substantial adoption through 2026 driven by the fuel efficiency and high torque offered by these engines. Diesel engines can accommodate more energy per gallon compared to their gasoline counterparts, making them affordable to purchase and economical to use. The ample availability of diesel outboard engines for recreational boats in the market by several companies, such as Yamaha and BRP Group, will support the industry outlook.

Competitive Industry Landscape

Key companies operating in the North America recreational boating market are Winnebago Industries, American Sail Inc., Yamaha Motors, Brunswick Corporation, Grady-White Boats, and Malibu Boats. These players are majorly focusing on mergers and acquisitions to enhance their business operations and reach in the market.
 

Frequently Asked Question(FAQ) :

The North American market size for recreational boating valued at USD 23.5 billion in 2019 and is anticipated to expand at more than 5.5% CAGR from 2020 to 2026.
According to the analysts at Graphical Research, the diesel recreational boats will register substantial adoption through 2026 driven by the fuel efficiency and high torque offered by these engines.
Key companies operating in the market are Winnebago Industries, American Sail Inc., Yamaha Motors, Brunswick Corporation, Grady-White Boats, and Malibu Boats.

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