June 14, 2024
Recreational Rowing Boats Market

The Growing Recreational Rowing Boats Market Gaining Traction Through Enhanced Outdoor Activities.

Recreational rowing boats are lightweight boats used mainly for rowing for exercise and leisure activities. Rowing boats promote improved cardiovascular fitness and are considered an effective form of total-body workout. Rising awareness about health benefits associated with water sports and outdoor recreational activities has boosted the demand for rowing boats in recent years.

The Global Recreational Rowing Boats Market is estimated to be valued at US$ 15.90 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024-2031.

Key players operating in the Recreational Rowing Boats 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, Janousek.

Key Takeaways

Key players
Key players operating in the recreational rowing boats 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, Janousek.

Growing demand

Increasing health awareness and preference for outdoor activities is driving the demand for recreational rowing boats globally. Growing popularity of water sports and boating among millennial is augmenting the market growth.

Global expansion

Leading manufacturers are focusing on expanding their regional presence by entering into new geographies. Rising disposable income in developing nations is encouraging the adoption of rowing boats, especially in Asia Pacific.

Market key trends

Lightweight and durable materials such as carbon fiber and fiberglass are increasingly being used for manufacturing rowing boats. This enhances boat stability and performance. Additionally, innovative designs featuring improved ergonomics and safety features are gaining traction. Emphasis on developing electric and solar-powered rowing boats to reduce carbon footprint is a notable trend in the market.

Porter’s Analysis

Threat of new entrants: Low capital requirements and lack of need for excessive brand advertising make the barriers to entry quite low in this market. However, existing players have established brand names and distribution channels.
Bargaining power of buyers: Individual recreational boat buyers have high bargaining power due to the availability of substitutes and undifferentiated products from various manufacturers. However, buyers in bulk such as rowing clubs have relatively low bargaining power.
Bargaining power of suppliers: Major raw materials such as fiberglass, wood and aluminum have many suppliers globally. This eases pressures from suppliers. Supplier power is relatively balanced.
Threat of new substitutes: Threat from new substitutes is moderate. Paddle boarding and canoeing offer alternative water activities, but demand for rowing remains robust due to its health benefits and competitive team spirit.
Competitive rivalry: The recreational rowing boat market features many manufacturers competing on quality, pricing and customization options. Brand reputation, after-sales service and dealer networks are differentiating factors intensifying competition.

Geographical regions: North America currently accounts for the largest share of the global recreational rowing boats market, driven by high participation in rowing among educational institutions and communities in the US and Canada. Europe is the second largest regional market followed by Asia Pacific.

Fastest growing region: The Asia Pacific region excluding Japan is expected to be the fastest growing market for recreational rowing boats during the forecast period. Countries like China and India are witnessing expanding middle class population and rising health awareness boosting outdoor water sports in the region. Infrastructure development around rivers and lakes is further stimulating market growth.

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