1. What is the projected Compound Annual Growth Rate (CAGR) of the Boats Market?
The projected CAGR is approximately 48.3%.
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Boats MarketBoats Market by Type (Inboard, Outboard), by Size (Below 20 ft, 20-50 ft, More than 50 ft), by End-user (Commercial, Recreational), by Propulsion (Electric, Conventional, Others), by Hull (Wood, GRP, Aluminum, Steel, Others), by Application (Fishing, Water Sports, Sailing, Tourism, Surveys, Others), by By Type (Inboard, Outboard), by Asia Pacific Rest of the World (Latin America, Middle East & Africa) Forecast 2026-2034
The Boats Market size was valued at USD 32.69 USD Billion in 2023 and is projected to reach USD 515.71 USD Billion by 2032, exhibiting a CAGR of 48.3 % during the forecast period. A boat is a small watercraft that is pushed by paddles, oars, sails, or motors, is open or partially decked, and is usually less than 45 feet, roughly 14 meters in length. It is used to move goods and people across water, to float, plane, work, or travel on water, enlarging land-based food supplies by fishing. Paddle boat, raft, motorboat, and ship are the types of boats. The benefits of boats include reducing stress. Stress is a very common reaction to upheaval and feeling overwhelmed, which we all do from time to time to increase vitamin D levels, enhance your social life, and experience more of nature. Growth in the tourism and leisure industry can stimulate demand for recreational boating activities such as charters, rentals, and guided tours. Destinations with vibrant boating cultures or natural attractions conducive to boating activities may experience a higher demand for boats and related services.
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| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 48.3% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 48.3%.
Key companies in the market include Malibu Inc. (U.S.), Brunswick Corporation (U.S.), Polaris Inc. (U.S.), Groupe Beneteau (France), Yamaha Motor Corporation (Japan), Marine Product Corporation (U.S.), Sun Tracker Boats (U.S.), Carolina Skiff, LLC (U.S.), Berkshire Pontoons (U.S.), Premier Marine Inc. (U.S.).
The market segments include Type, Size, End-user, Propulsion, Hull, Application.
The market size is estimated to be USD 32.69 USD Billion as of 2022.
Increasing Demand for Forged Products in Power. Agriculture. Aerospace. and Defense to Drive Industry Expansion.
Rising Adoption of Automation in Manufacturing to Drive Market Growth.
Environmental Concerns Associated with Boating Activities to Hamper the Market Growth.
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Yes, the market keyword associated with the report is "Boats Market," which aids in identifying and referencing the specific market segment covered.
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