Irving, TX (PRWEB) June 15, 2012
The global recreational boat market is expected to grow to US $30.63 billion in 2017 with a CAGR of 8.5% over the next five years.Growth is anticipated to be higher because the boat market bottomed out in 2010 and is in recovery. The recreational boat industry offers immense opportunities for composite manufacturers given the size of the market. The composite materials market in the boat industry is expected to reach $1,665 million in 2017. The demand for composites in the inboard boat market is expected to be the highest, followed by the outboard boat market.
Lucintel, a leading global management consulting and market research firm, has analyzed the opportunities for composites use in the global recreational boat market and presents its findings in “Opportunity Assessment for Composites in Global Boating Industry 2012-2017.”
Lucintel’s research indicates that in unit shipment, outboard boats represent the largest market in the industry, followed by inboard and stern drive boats. In dollar value shipment, the two leading markets reverse positions, with inboard and stern drive boats first, followed by outboard boats.
The Asia Pacific region is expected to drive the boat market due to continued economic growth in China, India, Southeast Asia, and Korea.The growth in Rest of the World(ROW) is expected to be higher because of progress in the cruiser segment. The market share for the North American boat market anticipates decline in value shipment because of a lower growth rate in that region’s boat market. Shares for the European and ROW boat markets are forecast to grow because higher-than-average growth in the global boat industry is anticipated in those two regions.
The comprehensive 400-page report provides a detailed assessment of the demand for composite materials in the production of recreational boats.The report, which provides trend scenarios and forecast statistics for 2012–2017; details industry drivers and challenges;manufacturing process analysis; also provides the ranking of top 10 global boat leaders with their respective market shares, and more.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.