May 18, 2024
Recreational Rowing Boats Market

Recreational Rowing Boats Market Set for Rapid Growth Due to Growing Health Consciousness

Recreational rowing boats refers to manually-propelled boats used for leisure activities such as competitive rowing, rowing exercises, and recreational rowing. Rowing boats provide a low-impact full-body cardio and strength training exercise and help improve aerobic capacity, muscle endurance, posture, and bond. The growing health consciousness and trend of outdoor recreational activities are fueling the demand for recreational rowing boats globally.
The global recreational rowing boats market is estimated to be valued at US$ 15.90 billion in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Recreational Rowing Boats Market are Euro Diffusion, 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, and Janousek. Key players are focusing on innovative product launches and targeting emerging economies for business expansion.

The increasing initiatives to promote water sports and rowing events, growing millennial population, and rising household incomes in developing nations are offering significant growth opportunities for players in the recreational rowing boats market. Manufacturers are expanding their geographical presence in Asia Pacific and Latin America through partnerships with local distributors.

Growing health awareness, increasing participation in rowing competitions, and rapid urbanization are fueling the demand for recreational rowing boats globally. Regulations regarding physical education and promotion of water-based sports by governments worldwide are also contributing to market growth.

Market Drivers

The rising popularity of recreational activities and outdoor sports among young populations is a key factor driving the recreational rowing boats market. Rowing provides low-impact full-body workout and cardiovascular benefits, which is attracting both professional and amateur athletes. Furthermore, growing initiatives to promote water sports and competitions at regional and international levels have increased the visibility and adoption of rowing as a mainstream sport over the years. This has positively impacted the sales of recreational rowing boats.

PEST Analysis

Political: Recreational rowing boats market is affected by regulations regarding boating safety, licensing and environmental impact of recreational activities. Government policies can promote water sports and develop infrastructure like boat clubs and marinas.
Economic: Economic growth increases discretionary spending on recreational activities. Affordability of rowing boats depends on consumer income levels and financing availability. Downturns may decrease sales.
Social: Rising health awareness is increasing participation in outdoor and water sports. Population growth and urbanization bring more people closer to water bodies. Social media promotes rowing as a sport and hobby.
Technological: Advances in materials allow rowing boat designs with improved performance, durability and safety. Digitalization aids in boat design, manufacturing and connectivity features. Technologies support training, coaching and competition organization.

North America accounts for the largest market share in terms of value. Presence of major manufacturers, developed boating infrastructure and culture of water sports drive demand. Europe is another major regional market concentrated around countries with river networks like UK, Germany and Italy offering scenic locations for rowing.

The Asia Pacific region is poised for fastest growth supported by rising incomes, interest in health and lifestyle, regional economic expansion and government initiatives. Countries like China, Japan and Australia are promoting water sports to boost domestic tourism while developing coastal infrastructure.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.