Evolving Opportunities with AB Volvo and Azimut in Leisure Boat Market 2019-2023
(prsubmissionsite) October 31, 2019 – Technavio has been monitoring the global leisure boat market since 2018 and the market is poised to grow by USD 13.49 billion during 2019-2023, progressing at a CAGR of more than 4% during the forecast period.
This market is driven by increasing customer engagement in marinas and recreational boating activities. In addition, initiatives by government and organizations to promote leisure boating in emerging countries is anticipated to boost the growth of the leisure boat market.
The market has been witnessing an increase in the number of consumers getting engaged in marinas and recreational boating activities over recent years. People with mid-level and low-level annual income in the US and Europe are increasing their spend on recreational boating experiences. The sales of new recreational boats in the US witnessed considerable annual growth in 2018 compared to its previous year. This growth is expected to accelerate during the forecast period with an increase in customer engagement in marinas and recreational boating activities. These factors are expected to boost the growth of the global leisure boat market.
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Major Five Leisure Boat Companies:
AB Volvo owns and operates its business across various segments such as trucks, construction equipment, buses, Volvo Penta, group functions and other, and financial services. The key offerings of the company include diesel engines for leisure boats. The company also offers a wide range of leisure boat accessories such as digital displays, joystick controls, and autopilot.
Azimut | Benetti Group
Azimut | Benetti Group owns and operates its business in Yachts, Megayachts, and Servizi segments. The company offers various products under the brand names Azimut Yachts and Benetti. Some of the products offered by the company include Azimut Grande, Flybridge, Magellano, Atlantis, SEASENSE and M/Y DOMANI.
BRUNSWICK CORPORATION owns and operates its business in marine engine, boat, and fitness segments. The company offers a wide range of marine boats, marine engines, and leisure boat accessories.
Groupe Beneteau owns and operates its business across boats and housing segments. The company offers a wide range of leisure boats. Some of the popular offerings by the company include Jeanneau, Lagoon, Prestige, Monte Carlo Yachts, CNB, Four Winns, Scarab, and Wellcraft.
Yamaha Motor Co., Ltd.
Yamaha Motor Co., Ltd. owns and operates its business across various segments such as motorcycles, marine products, power products, industrial machinery and robots, and other products. The company offers a wide range of outboards, boats, and Waverunners.
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Leisure Boat Product Outlook (Revenue, USD Billion, 2019 – 2023)
· Leisure boat accessories
· Leisure boat motors
· Leisure boat building
Leisure Boat Regional Outlook (Revenue, USD Billion, 2019 – 2023)
· North America
· South America
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