Dublin, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The "Europe Recreational Boat Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Europe Recreational Boat Market had a market value of $11.94 billion in 2022 and is expected to reach a value of $17.63 billion by 2028, growing at a CAGR of 6.7%
The recreational boat sector encompasses a wide range of boats and watercraft designed for leisure and recreational purposes, including activities such as sailing, fishing, and cruising. The dynamics of this market are influenced by factors like tourism trends, disposable income levels, and preferences for outdoor recreational activities. Leading companies in this industry continually invest in technological advancements and product innovations to tap into the thriving European recreational boat market.
The European recreational boat market has witnessed substantial growth and increasing demand in recent years, making a significant impact on the region's economy and leisure industry. The growing interest in recreational boating, coupled with favorable economic conditions, has been a driving force behind this surge in demand, promising a bright future for the industry.
Several factors contribute to the robust growth of the European recreational boat market. Firstly, the rise in disposable incomes across the region has empowered more individuals and families to engage in leisure activities, including boating. As people seek outdoor experiences and embrace water-based recreation, the demand for recreational boats has experienced a notable upswing.
Electric boats represent a noteworthy and emerging trend within the boat market. Fueled by a growing focus on eco-friendliness and sustainability, these watercraft produce zero emissions during operation, making them particularly appealing to environmentally conscious consumers. Advances in battery technology and electric propulsion systems have enhanced their performance and range, rendering them more competitive with traditional boats.
Alternative energy sources are another significant trend in the recreational boating market. Solar panels, for instance, can be installed on recreational crafts to generate electricity, which can be used to power onboard appliances or support propulsion in the case of electric or hybrid-powered boats.
Digital technologies, such as augmented reality (AR) applications, are increasingly employed to offer customers interactive boat customization experiences. This allows them to visualize and personalize their ideal boats, enhancing their connection with the product. Smart navigation systems and digital integration further enhance safety and convenience during boating activities.
Prominent boat manufacturers like Azimut-Benetti group, Sunseeker, Groupe Beneteau, and others that provide such technologies gain a competitive edge in the market.
In July 2023, Groupe Beneteau, one of the key vendors and Volvo Penta (a marine and industrial and industrial engine manufacturer) have team-up to host a collaborative hands-on testing for a hybrid-electric system incorporated into leisure boat that featured the cutting-edge advances in sustainability, intuitive operation and near-silent cruising that will caters its sustainability boating.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $11.94 Billion |
| Forecasted Market Value (USD) by 2028 | $17.63 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Europe |
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Europe Recreational Boat Market
- Key Vendors
- Other Prominent Vendors
LIST OF VENDORS
Key Vendors
- Azimut-Benetti Group
- Bombardier Recreational Product (BRP)
- Ferretti
- Groupe Beneteau
- Sunseeker
Other Prominent Vendors
- Malibu Boats
- HanseYachts
- BAVARIA YACHTS
- Princess Yachts
- Grand Banks Yachts
- Fountaine Pajot
- Sunreef Yachts
- Sessa Marine
- Lurssen
- X-Yachts
- Solaris Yachts
- Salona Yachts
- Greenline Yachts
- Nautor Swan
- Amel Yachts
SEGMENTATION & FORECAST
Type (Revenue & Volume)
- Outboard Boats
- Inboard/Sterndrive Boats
- Personal Watercrafts
- Superyachts
- Others
Power (Revenue & Volume)
- Engine-powered boats
- Man-powered boats
- Sail-propelled boats
Activity (Revenue & Volume)
- Cruise Tourism
- Water sports
- Fishing
Boat Size (Revenue & Volume)
- 30-50 Feet Boats
- < 30 Feet Boats
- >50 Feet Boats
For more information about this report visit https://www.researchandmarkets.com/r/yczk9v
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