![Recreational Boating Market](https://www.skyquestt.com/assets/frontend/images/upcoming_reports_cover_image.jpg)
Report ID: UCMIG20T2010
Report ID:
UCMIG20T2010 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The Recreational Boating Market, having exceeded USD 35 billion in 2020, is positioned for substantial growth with an anticipated Compound Annual Growth Rate (CAGR) exceeding 6.5% from 2021 to 2027. This growth is primarily fueled by the escalating consumer spending on leisure boating pursuits, underpinned by rising disposable incomes in Europe and North America. As economic conditions improve, individuals are increasingly investing in recreational boating activities as a means of relaxation and entertainment. Market research analysis underscores the pivotal role of the leisure boating sector in promoting tourism, supporting local economies, and fostering a broader ecosystem of marine-related services and products. The market's trajectory emphasizes its significance in providing avenues for leisure and adventure, while contributing to the economic vitality of regions and aligning with evolving consumer preferences for experiential and outdoor recreational activities.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Marine by segment aggregation, the contribution of the Marine in Transportation and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG20T2010