imr introspective market research

Recreational Boat Market size is projected to reach USD 31.9 Billion by 2025 from an estimated USD 26.9 Billion in 2020, growing at a CAGR of 2.4% globally. Recreational boat means any vessel manufactured or used primarily for noncommercial use; or leased, rented or chartered to another for the latter’s noncommercial use. Charter boats, head boats or other vessels under the command of a person who is licensed by the United States Coast Guard to carry passengers for hire shall be defined as commercial and therefore exempt from this definition of “recreational boat.” Recreational boating is a leisurely activity of traveling on water in a boat. Many individual use this for fun and pleasure activities during outing with family and friends. Recreational boating includes many activities such as boat racing, sailing, campaigning, fishing, and other water sports game such as powerboat racing, sports fishing, kayaking, and others. The recreational boating market is segmented on the basis o...