Published Date: 2021-02-18
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North American Recreational Boating Market size is predicted to reach USD 35 billion by 2026, according to a latest forecast report by Graphical Research. Strong focus on strategic partnerships and collaborations by market players is supporting the industry growth.
Increasing participation in water sports activities, such as powerboating, surfing, and water skiing, is augmenting the demand for recreational boats in North America. According to a report presented by the National Marine Manufacturers Association in 2020, an average of over 12.4 million residents of Canada engages in pleasure boating every year. Recreational boating adds USD 5.6 billion to Canada's GDP with over USD 10 billion in revenues.
A steady growth in the tourism industry in the U.S. and Canada will create growth opportunities for the market. As per the data published by StatCan, in 2019, Canada recorded 22.1 million international tourists compared to 21.1 million in 2018. Similarly, growing support by the government authorities in terms of investments in the tourism industry will improve the recreational boating market statistics. The Canadian government spent USD 11.4 billion on tourism in 2019. Government investments in tourism in Canada increased by 56.4% in the third quarter of 2020.
Browse detailed statistical insights from the report, “North American 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), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020-2026” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1641/north-america-recreational-boating-market
The outbreak of COVID-19 has severely impacted the North America recreational boating market. The countries in the region faced massive economic disruption during the first two quarters of 2020. Manufacturing units witnessed several challenges owing to a steady decline in the availability of skilled labor and raw materials. Disruptions in the supply chain and demand losses decreased the recreational boat sales during the pandemic.
The inflatable boat segment will witness a steady growth during the forecast period. These boats are witnessing an increase in demand from applications such as scuba diving excursions, rescue operations, and water sports. These recreational boats are available in a wide variety of models including inflatable kayaks, rubber rafts, rescue boats, and lifeboats. Factors, such as low initial adoption cost and economic operations, will support the industry expansion.
Prominent players in the market are Yamaha Motors, Winnebago Industries, Grady-White Boats, American Sail Inc, Malibu Boats, and Brunswick Corporation. These players focus on new product launches to enhance their product portfolio. For instance, in January 2019, Yamaha launched its new F375 XTO outboard model, which aids in enhanced performance of a wide range of boat sizes. This aided the company to enhance its products with features such as Direct Injection fuel delivery system and electric steering.
The North American recreational boating market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
North America Market, By Product
North America Market, By Engine
The above information is provided on country basis for the following:
The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.
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