Inboard Express Cruiser Market Size, Growth Drivers, Regional Outlook And Forecast 2021-2030
September 15, 2021
Inboard express cruiser market opportunity analysis & industry forecast from 2021-2030. The global market segmented by product type, application and region.PORTLAND, ORAGON, UNITED STATES, September 15, 2021 /EINPresswire.com/ -- Inboard Express Cruiser Market Outlook 2030 -
Inboard express cruiser are the types of boats with inboard engines. Express cruisers are usually in the 30-50-foot range but they can be longer or even smaller. They are speedy and cruise at 25-30 knots or more. They are usually powered by twin diesel engines and pod drives. However, smaller express cruisers may be powered by stern drives with an inboard engine at the stern. With technological advancements express cruiser boats today are becoming SUVs with the ability to morph and do much for many. Express cruisers are high performance vessels meant to get anywhere at speed and are mostly used for day outings and leisure. Few years back cruisers are used by high income group of the population but gradual increase in disposable income has motivated mid income group to do leisure expenditure such as inboard express cruiser.
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The key players analyzed in the report include Beneteau Motorboats, LOMOcean Design, Sea Ray Sport Yachts, Bavaria Motorboats, Linssen Yachts, Cranchi, Portofino, Cruisers, MJM Yachts, RIO YACHTS, Cantiere Navale Artigiano, Faeton, Albemarle, Sessa Marine, Noosa Cat Australia, Jachtwerf De Boarnstream, O’Brien
COVID-19 Impact analysis
The global inboard cruiser market has been growing consistently during past few years. However, owing to the outbreak of corona virus there has been significant impact on supply chains globally. Manufacturers have faced huge losses during the first & second quarter of 2020, owing to disrupted supply chains and production schedules. Pandemic has forced inboard cruiser manufacturers to cease their production, order delivery, due to interrupted supply chain, and shortage of manpower. In the wake of COVID-19 there is an increased vigilance globally against consumption and expenditure as people are not investing money in recreational activities and trying to increase their savings for emergency situations. Travel restrictions imposed by governments worldwide to control COVID-19 has also ceased all watercraft & adventure activities, which has significantly affected the market for inboard cruisers.
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Top Impacting Factors
Surge in winter tourism & adventure sports, technological innovations and development are driving the growth of the inboard cruiser market.
Higher cost of inboard cruiser and use of rented or refurbished cruisers are expected to hamper growth of the market.
Increase in foreign direct investment (FDI) and increase in government initiatives in tourism industry can be seen as opportunities for the market growth.
Surge in watercraft & adventure sports
Improvement of economic conditions and growth of disposable income are important factors that drive growth of the adventure tourism market. After the European economic crisis and China's economic crisis, the world economy has stagnated. However, recovery from this crisis caused clear economic growth, particularly in developing economies and has led to increase in disposable income among middle-income groups which is the largest section of the population. In addition, disposable income of individuals in North America and Asia-Pacific region has witnessed a high growth rate, thus acting as a major driver for market as medium and high-income consumers in urban areas are shifting their consumption trend from essential to luxury goods & services. This trend is encouraging people to invest in recreational activities.
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Growing interest of consumers toward water sport activities, coupled with improved participation among all age groups has influenced development of recreational inboard cruiser facilities across the globe. Furthermore, in recent years, various government authorities have actively started accentuating promotion of water sports. In several countries, initiatives have been commenced to encourage development of water sports facilities. Thus, surge in watercraft tourism & adventure sports is expected to propel the market growth.
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Key benefits of the report:
This study presents the analytical depiction of the inboard express cruiser industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the inboard express cruiser market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the inboard express cruiser market growth scenario.
The report provides a detailed inboard express cruiser market analysis based on competitive intensity and how the competition will take shape in coming years.
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