Saudi Arabia Boat Market (2024-2030) | Revenue, Forecast, Growth, Value, Trends, Outlook, Analysis, Companies, Share, Size & Industry

Saudi Arabia Boat Market Synopsis

The Saudi Arabia boat market is expected to grow at a CAGR of 5.3% during the forecast period 2020-2026. The major factors driving growth in this market include increasing demand for recreational activities, growing awareness about water sports and marine tourism, rising disposable income of people, strong government initiatives towards developing infrastructure for leisure activities such as yachting and boating, and encouraging foreign investments in the country??s maritime industry. Additionally, rapid urbanization resulting in an increase in real estate projects near coastal areas is also likely to drive the growth of boats market in Saudi Arabia over the forecast period.

Market Drivers

Increasing demand for recreational activities, Growing awareness about water sports and marine tourism , Rising disposable income of people, Strong government initiatives towards developing infrastructure for leisure activities such as yachting and boating , and Encouraging foreign investments in the country??s maritime industry are some drivers estimated to boost the market growth.

Challenges of the Market

High cost associated with maintenance & repair service and Lack of professional workforce trained to operate or maintain vessels are some challenges hampering the market growth.

Covid 19 Impact on the Market

With travel restrictions imposed due to covid-19 pandemic across different countries has badly affected both domestic as well international tourists which have subsequently impacted global boat sales negatively. Moreover slowdown in economic activity coupled with job losses have further aggravated the situation leading to a slump in consumer spending power thereby impacting overall boat sales globally .However it is anticipated that once normalcy returns post covid times ,boat sales will witness revival on accountof increasing participation from high net worth individuals (HNWIs)in sailing/boating/yacht events organized globally with health & safety protocols making it more feasible alongwith government support through tax exemptions granted on purchase & leasing contracts etc.

key players of the Market

Major players operating within Saudi Arabia Boat Market include Brunswick Corporation ,Princess Yacht International Ltd., Azimut Benetti SpA , Ferretti Group SPA , Sunseeker International Limited Inc., Sea Ray Boats inc., Bavaria Yachtbau GmbH etc.

Key Highlights of the Report:

• Saudi Arabia Boat Market Outlook
• Market Size of Saudi Arabia Boat Market, 2023
• Forecast of Saudi Arabia Boat Market, 2030
• Historical Data and Forecast of Saudi Arabia Boat Revenues & Volume for the Period 2020-2030
• Saudi Arabia Boat Market Trend Evolution
• Saudi Arabia Boat Market Drivers and Challenges
• Saudi Arabia Boat Price Trends
• Saudi Arabia Boat Porter's Five Forces
• Saudi Arabia Boat Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Outboard for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Inboard for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By PWC for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Fishing for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Watersports for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Sailing for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Power for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Engine-Powered Boats for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Boat Market Revenues & Volume By Sail-Propelled Boats for the Period 2020-2030
• Saudi Arabia Boat Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Power
• Saudi Arabia Boat Top Companies Market Share
• Saudi Arabia Boat Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Boat Company Profiles
• Saudi Arabia Boat Key Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):