Recreational rowing boats are gaining popularity owing to their several health benefits such as toning upper body muscles, enhancing cardiovascular health, and reducing stress levels. Recreational rowing boats offers full body workout through their paddling action and consists of multiple advantages such as easy on joints, calorie burning, and portability. The lightweight aluminum and composite materials offer durable yet affordable options for recreational users.
The Global Recreational Rowing Boats Market is estimated to be valued at US$ 10.83 Bn in 2024 and is expected to exhibit a CAGR of 5.6 % over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the Recreational Rowing Boats are Euro Diffusion’s, FILIPPI LIDO SRL, Row Alden, Rowing Yard Wiersma, Sykes Racing, ECHO ROWING, Kiwi International Rowing Skiffs Ltd., Empacher, Vega Realisations Composites, Leo Coastal, Whitehall Rowing Sail, Durham Boat Company, Baumgarten Bootsbau, Virusboats, Janousek. Key players operating in the recreational rowing boats are focused on introducing lightweight and customizable boats to capture more consumer base.
The health and wellness trend has increased the Recreational Rowing Boats Market Growth as it offers low-impact cardiovascular workout. Various health benefits associated with rowing such as toning muscles, burning high calories and reducing stress levels has driven its demand. Furthermore, rising disposable income and increasing number of boating enthusiasts have positively impacted the sales of recreational rowing boats.
North America dominates the recreational rowing boats market owing to high participation in water sports and outdoor activities. However, Asia Pacific is expected to witness fastest growth due to rising health consciousness and increasing spending on recreational activities in countries like China and India. Manufacturers are also exploring opportunities in emerging economies to leverage high growth potentials.
Market Key Trends
One of the key trends in the Recreational Rowing Boats Market Regional Analysis is the introduction of innovative and technologically advanced products. Various companies are developing boats with ergonomic designs, lightweight yet durable materials, and customizable features to attract new users. Furthermore, integration of technologies such as GPS and Bluetooth enables tracking of speed, distance and vital health parameters. Analyzing user behavior through connected devices can help companies customize their products as per consumer needs. Eco-friendly and sustainable practices by manufacturers though reduced carbon footprint and recyclable materials is another trend gaining traction in the market.
Porter’s Analysis
Threat of new entrants: The recreational rowing boats market has moderate barriers to entry as it requires technical skills to manufacture rowing boats. However, the threat is low from established manufacturers.
Bargaining power of buyers: Individual buyers have low bargaining power as they have limited choice of manufacturers. However, large sporting goods retailers have moderate power to negotiate on price and demand better services.
Bargaining power of suppliers: Manufacturers source raw materials like fiberglass, wood, aluminum from different suppliers globally. The bargaining power of suppliers is moderate as switching costs are low.
Threat of new substitutes: The threat is low as there are limited direct product substitutes for recreational rowing though other water sports offer indirect competition.
Competitive rivalry: The market has many global and local operators. The competitive rivalry is high due to established brands and differentiation achieved through innovative designs, customization, and après-sales services.
Geographical Regions
Europe dominates the recreational rowing boats market in terms of value, accounting for around 35% share. Countries like the UK, Germany, and Italy have a strong sporting culture and thousands of rowing clubs along rivers and lakes. North America is the second largest region driven by the US, which offers ample water bodies and participation in water sports. Asia Pacific is expected to be the fastest growing region during the forecast period due to rising health awareness, income levels, and interest in adventure sports in countries like China, Japan, and Australia. Africa and South America are other emerging geographical regions for recreational rowing boats with economic development and infrastructure investments in coastal areas and recreational facilities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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