Boat market projected to reach $37.1 billion by 2011

DUBLIN, Ireland – Research and Markets has released a pleasure boat market report, Opportunity Assessment for Composites in the Global Boating Industry 2006 – 2011, that projects the global demand for recreational boats – estimated to have reached $23.8 billion in 2005 – will grow at a 7-percent annual rate, reaching $37.1 billion in annual sales by 2011.

This report focuses on the pleasure boat market, including inboard boats, sterndrive boats, outboard boats, sail boat and personal watercraft, and is intended to provide “a thorough strategic understanding of the development, trends and status of the global boat industry,” according to the research firm.

“Given the size of the market and its prospects for further expansion, the recreational boat building industry represents a highly attractive opportunity for OEMs, material suppliers, engine suppliers and part suppliers,” the company stated.

While North America represents the largest region in the world in total recreational boat production, its growth between 2000-2005 was only in the single digits, the study suggested. Europe saw the highest growth rate during the last 5 years as European-based boat makers were strategically more aggressive and subsequently increased their market share significantly as compared to 2000, the company stated.

The study ranks Brunswick as No. 1 in the global recreational boat market, followed by Genmar, Groupe Beneteau, Ferreti, and Azimut. The ranking is based on the annual revenues generated from selling recreational boats.

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