Boat Industry 2012 Growth Forecast 'Robust'

The global recreational boat market is expected to witness high growth during 2012 according to a recent Lucintel report

According to the Lucintel report the market is expected to witness a CAGR of 8.5% over the next five years and grow to $30.63 billion in 2017. Inboard and sterndrive boats are expected to have the highest market share in 2012 and continue to lead through 2017.

In terms of ranking, the US ranks first, followed by Italy, the UK, Germany, and France in terms of dollar shipments. The market share for the North American boat market is expected to decline in terms of value shipment because of the lower growth rate in North American boat market relative to the average for the global boat market.

The shares for the European and the ROW boat market are expected to grow since their boat market is expected to witness higher than average growth in the global boat industry. APAC is expected to provide future growth for the boat market, as sales are likely to be bolstered by continued economic growth in China, India, Southeast Asia, and Korea.

This report provides a detailed assessment of the demand for the production of recreational boats including inboard boats, outboard boats, stern drive boats, personal watercrafts, sail boats, and others on a global and regional basis.

The US-based company Brunswick Corporation captured the leading position in the global boat industry in terms of revenue in 2011.Lucintel forecasts that Brunswick should occupy number one position in the near future. European boat builders moved up in ranking because of the demand for luxury boats. This market intelligence report provides the ranking of the top 10 global leaders with their respective market shares.

The Lucintel Report is available at this link.