US Recreational Boat Market - Focused Insights 2023-2028

• The established markets of the U.S. are expected to witness high demand for recreational boats during the forecast period since the commercial adoption of boats has increased in these regions. Such factors offer U.S. recreational boat market vendors many opportunities during the forecast period. In addition, the demand for marine infrastructure arises due to the changing market dynamics, such as a higher number of recreational boat users.
• Vendors can fight stiff market competition based on the pricing and quality of their products. A vendor surge due to low entry barriers has provided customers with a wide range of providers, intensifying competition. Hence, players have to focus on acquiring customers and retaining them.
• Players in the U.S. recreational boat market are also consistently facing the impact of various macroeconomic developments across regions. Regulations and policies are also key aspects of the sale of recreational boats. In addition, vendors are striving to produce cost-efficient recreational boats at affordable prices to meet the intensely competitive environment.
• Furthermore, the U.S. recreational boat market has grown considerably with robust local manufacturing and strong export and import infrastructure. It is seen as a fast-growing market focusing on boats up to 40 feet long.
• The overall analysis of the US market suggests that the high utility of recreational boats mostly drives the market for various activities. Close to 141 million people in the U.S. are involved in boating events. Further, the U.S. accounts for the largest share of 42% in revenue of the global recreational boat market. Meanwhile, regarding the entry of new vendors, the U.S. market offers tough competition.
• Manufacturers use the latest technologies to make existing vessels more appealing to the younger generation. The speed of innovation is increasing, especially with the rise of new digital industrial technologies known as Industry 4.0, underpinned by the Cyber-Physical Systems (CPS) transformation technologies. These systems are combinations of several major digital technology innovations geared toward transforming the industry.
• Companies with better technical and financial resources can develop innovative products that render competitors' products non-effective even before their launch in the market or before their R&D costs are recovered. Therefore, vendors must develop new technologies. International players are currently dominating the market. However, several regional and foreign players with small market shares also have a presence in the U.S. recreational boat market.

THE FOLLOWING MARKET SEGMENTS ANALYSIS IS INCLUDED IN THIS REPORT

SEGMENTATION & FORECAST

• Boat Type (Revenue & Units)
• Outboard boats
• Inboard/Sterndrive boats
• Personal Watercrafts
• Superyachts
• Other Boats
• Power (Revenue & Units)
• Engine-powered boats
• Manual-powered boats
• Sail-propelled boats
• Activity (Revenue & Units)
• Cruise Tourism
• Watersports
• Fishing
• Boat Size (Revenue & Units)
• 30-50 Feet Boats
• <30 Feet Boats
• >50 Feet Boats

MARKET STRUCTURE

• Market Dynamics
• Competitive Landscape of the US Recreational Boat Market
• Key Vendors
• Other Prominent Vendors