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5 months ago

Recreational Boating Market By Application, Growth Potential & Forecast, 2017 – 2024

More Information @ https://bit.ly/2yauPLN Rising disposable income has resulted in increased travel and tourism activities across the globe, primarily driving the industry growth.

Engine-powered

Engine-powered recreational boats were valued at over USD 145 billion in 2016 and will continue its dominance in recreational boating market till 2024. Developed countries such as U.S., Japan, and Russia are witnessing high demand for power engine boats, further contributing significantly towards the revenue contribution. Man-powered boats will exhibit around 4% CAGR from 2017 to 2024 owing to their cost-effectiveness along with increasing demand for fun and leisure activities including river rafting and water sports. U.S. Recreational Boating Market, By Product, 2016 & 2024, (Units) Browse key industry insights spread across 250 pages with 350 market data tables & 10 figures & charts from the report, “Recreational Boating Market Size By Product (Inboard Boats, Outboard Boats, Inflatable, Sail Boats), By Power (Engine-Powered, Man-Powered, Sail Propelled), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Netherlands, Poland, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Egypt, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 2024” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/recreational-boating-market Industry players focus on integrating several marine technologies in these boats. Emerging trends such as global navigation satellite system (GNSS) are gaining traction among the manufacturers. These systems are highly beneficial for both direct and indirect users of these boats. They are primarily used for traffic management and overall surveillance in the waterways. Various other benefits such as fishing vessel control and search & rescue are responsible for high preference of 2 | P a g e

the manufacturers. Incorporation of these advanced features will offer stable growth prospects for the recreational boating market till 2024. Outboard boats are anticipated to showcase dominance in the recreational boating market, accounting for more than USD 135 billion over the next eight years. Outboard engines are mounted on an easily accessible position, that results in 3 | P a g e

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U.S. Recreational Boating Market to grow at over 4.5