Global boat market forecasted to grow 39 percent
GRANDVILLE, Mich. – A new report from E-Composites is forecasting that global demand for recreational boats will reach $23.7 billion in 2005 and will grow at 7 percent annually to reach $33 billion in annual sales by 2010. This is equivalent to 39.24-percent growth over the next five years.
The E-Composites market research report, titled “Global recreational boating industry analysis and forecast 2005-2010,” included inboard boats, outboard boats, stern drive boats, personal watercrafts, sail boats and others in its analysis.
Europe saw the highest growth in the last 5 years, whereas North America represents the largest region in the world for the recreational boats, according to E-Composites. The report also acknowledged an ongoing shift in product mix toward larger and expensive boats.
According to E-Composites estimates, Brunswick ranked number 1 in the global recreational boat market, followed by Genmar, Groupe Beneteau, Ferreti, and Azimut. The ranking is based on the annual revenues generated by leaders from selling recreational boats. The market intelligence report provides the ranking of top 10 global leaders with their market shares.
European leaders are growing aggressively and increased their market shares significantly as compared to 1999, according to the report. The annual growths by most of the European leaders are in double digits whereas North American leaders saw single digit growth during 1999-2005.
This 477-page report includes demand trends and forecasts, market size estimates by boat types, regional analysis, manufacturing trends, composites consumption trends, profiles of leading companies, competitive analysis and other business information. For more information, visit www.e-composites.com/MarketMarine.htm.
- For more of the latest news, click here.