European recreational boat market soared in 2007

The recreational boat market was down in North America in 2007, but saw record numbers in Europe.

Lucintel (Dallas, Texas) reported on Jan. 29 that the recreational boat market was down in North America in 2007, whereas Europe reached a record high. For the first time, the European boat market exceeded the North American boat market in 2007 in terms of dollar value. Growth is driven by huge demand for luxury cruisers and mega yachts in Europe, according to "Global recreational boating industry analysis and forecast 2008-2013,"from Lucintel. Recreational boats include inboard boats, outboard boats, stern drive boats, personal watercrafts, sail boats and others. In terms of unit shipment, North America is still the largest segment.

Based on Lucintel research, at the end of calendar year 2007, the total size of the global boat industry reached an estimated $25 billion. The global demand for recreational boats is projected to grow at a 7.6 percent annual rate, reaching $38.3 billion in annual sales by 2013, according to the report. The Europe and Asia Pacific region will provide the future growth for the boat market as sales will be bolstered by continued economic growth in these regions. In the boating industry, there is ongoing shift in product mix toward larger and expensive boats.

This 330-page report includes demand trends and forecasts, market size estimates by boat types, regional analysis, market share analysis and other critical business information. To obtain a detailed table of contents and pricing information on this latest report, contact Sean Lofgren at +1 972-620-8888, sean.lofgren@lucintel.com or www.lucintel.com/MarketMarine.asp.