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Europe Recreational Boating Market is Set to Garner Staggering Revenue USD 18 Billion by 2026

Author : Ronak Bora | Published Date : 2021-09-03 

Europe recreational boating market will witness healthy progress in the coming years and is expected to reach valuation of more than $18 billion by 2026. One of the major reasons for this is steady rise in the overall disposable incomes of the regional population.

Countries like the UK, Germany and France are witnessing rise in the number of employment opportunities which has, in turn, increased the percentage of expenditure incurred for recreational activities. As per a statistical report published by Eurostat in September 2020, the total household income of 27 countries in the EU stood at $11,534.2 billion in 2018 alone.

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Some of the important trends that will improve the scope of regional recreational boating market are expounded below:

COVID-19 impact on use of recreational boats:

The COVID-19 pandemic had a severe impact on Europe recreational boating market because several factories were forced to shut down on a temporary basis due to lockdowns and other restrictions. The supply chain of this industry was affected as well because of limitations on the movement of raw materials from one place to the other. Many companies faced financial constraints due to huge losses incurred during this time. However, with the pandemic effect gradually ebbing, this market will see renewed progress as more people aim to go outdoors for recreational activities.

Pleasure boats production will increase in Europe:

Pleasure boats like luxury cruises are witnessing gradual increase in their demand among nations like France, Germany, Italy and Spain. Governments across the region are introducing favorable initiatives to encourage recreational boating activities. For example, the European Network of Outdoor Sports, in November 2017, announced the commencement of the Get WET project. The main aim was to encourage the participation of young adults in various water and sports activities.

Outdoor boats are using advanced technologies:

Indoor and outdoor boats are the main product categories of Europe recreational boating market. Outdoor boats will rise in development because the companies manufacturing them are making use of advanced technologies like digital throttle controls, joystick and automatic trim controls. Joystick controls are designed to control boats that are facing extreme marine environment. These boats have autopilot systems and speed sensors as well to facilitate effective control. They are quite lightweight in nature and make efficient use of fuel.

One of the types of outdoor boats, pontoon boats are flat deck boats that consist of two or more floating tubes or hulls. They are highly cost-effective and have a simple structure which have played an important role in raising the demand for these boats among consumers.

Diesel engines recreational boats register consistent gains:

Diesel engine segment will capture a significant share of Europe recreational boating market in the coming years. One of the major reasons for this is that boats having diesel engines make more efficient use of fuel and provide higher torque as well. They can also accommodate a greater amount of energy per gallon as compared to gas fuel engines. This helps reduce the overall operational cost of the boats.Diesel outboard engines are quite readily available that can be used in recreational boats.

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Recreational boating has increased by many folds in several countries across Europe because of the rise in awareness about the benefits of participating in water sporting activities. Some reputed organizations that are manufacturing Europe recreational boating market across the region are Brunswick Corporation, Yamaha Motors, Yachtbau, Malibu Boats and some others.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Research methodology

1.2    List of data sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2   Market Snapshot

2.1    Europe Recreational Boating market snapshot

Chapter 3   Europe Recreational Boating Trends

3.1    Industry coverage

3.2    Industry size, 2016 – 2026

3.3    Impact of COVID-19 pandemic

3.4    Value chain analysis

3.4.1    Company product snapshot

3.5    Innovation landscape

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis - Porter's

3.9    Competitive benchmarking, 2019

3.9.1    Strategy dashboard

3.10    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1701/europe-recreational-boating-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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