Press Release

Recreational Boating Products: US Demand to rise 9.3% Annually Through 2014


June 9th, 2010

Global Information Inc. is pleased to announce a new market research report, "Recreational Boating (US Market & Forecast)" by Freedonia Group.

Demand in the recreational boating market will primarily be driven by gains in disposable income and consumer spending. Meanwhile, financial markets recovery will allow more consumers to purchase boats on credit. Additionally, growth in the 55-64 age bracket will also help drive demand since the trend is that boat purchases become more likely just before retirement and consumers in that age group have the disposable income to purchase larger, more expensive vessels. The industry has also increased efforts to market the "boating lifestyle" to women and minorities, which should help expand the market as well. According to this new report by The Freedonia Group, "The short-term outlook for the boating industry remains clouded; however, despite these challenges the recreational boating market (including boats, propulsion systems and accessories) will rebound from its depressed 2009 levels with demand rising 9.3 percent annually to $10.0 billion in 2014."

After posting record declines in 2008 and 2009, powerboats are expected to see the fastest gains in the boat category. Technological advances, such as newer propulsion systems and more sophisticated electronics, will help drive demand for powerboats. Moreover, the aging of the population is another trend that will support gains in this area as powerboats are less strenuous to handle and maneuver in comparison to sailing vessels.

US RECREATIONAL BOATING DEMAND
(million dollars)
% Annual Growth
Item2004200920142004-20092009-2014
Recreational Boating Demand 13284648510100-13.49.3
Boats905840006500-15.110.2
Propulsion Systems322315852500-13.29.5
Accessories10039001100-2.14.1

©2010 by The Freedonia Group, Inc.


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