Global Rowing Boats Market Set to Reach USD 15.36 Billion by 2030, Driven by Recreational and Competitive Rowing Trends
The global rowing boats market is projected to grow from USD 10.77 billion in 2023 to USD 15.36 billion by 2030, registering a CAGR of 5.2% during the forecast period. This growth is fueled by increasing interest in recreational water activities, health and fitness trends, and the popularity of competitive rowing events worldwide.
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Competitive Landscape
The rowing boats market is characterized by the presence of several key players focusing on innovation and performance. Notable companies include 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, and Janousek.
Regional Demand Highlights
The North America region is expected to witness significant growth at a CAGR of 6.2% through the forecast period, driven by the increasing trends of recreational rowing in hotels, resorts, and luxury clubs. The Asia-Pacific region is also expected to grow due to improving sports culture and increasing participation in water sports.
Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam’s rowing boats market is experiencing growth due to increasing interest in water sports and recreational activities. The government’s initiatives to promote tourism and outdoor sports are contributing to the demand for rowing boats.
Consolidation Trends in Thailand
Thailand is witnessing consolidation in its rowing boats market, with companies focusing on mergers and acquisitions to strengthen their market position. The growing popularity of rowing as a recreational activity is prompting businesses to invest in advanced technologies.
Technological Growth in Japan
Japan’s rowing boats market is experiencing growth due to the adoption of advanced manufacturing technologies and materials. The demand for high-performance rowing boats is on the rise, contributing to the market’s expansion.
Automation Trends in South Korea
South Korea is embracing automation in its manufacturing processes, leading to increased production efficiency in the rowing boats market. This trend is expected to drive the growth of the market in the country.
Opportunity Expansion in Singapore
Singapore’s strategic location and advanced infrastructure make it a hub for water sports and recreational activities. The adoption of rowing as a fitness activity is enhancing operational efficiency in urban areas, thereby increasing the demand for rowing boats.
Market Expansion in the United States
The United States is investing in sports infrastructure, leading to increased demand for rowing boats. Government initiatives promoting health and fitness are further fueling the growth of the market in the region.
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Sustainability Trends in China
China is leading the shift towards sustainable manufacturing practices in the rowing boats market, with a focus on reducing carbon emissions and improving efficiency. This transition is supported by government subsidies and stricter environmental standards.
Innovation Updation in Europe
Europe is experiencing a surge in the adoption of innovative technologies in the rowing boats market, with countries like the United Kingdom, Germany, and the Netherlands leading the way. This trend underscores the region’s commitment to enhancing performance and sustainability in rowing sports.
Key Recent Developments
- In June 2022, FILIPPI LIDO SRL announced the launch of a new line of high-performance rowing boats, incorporating advanced materials and design improvements to enhance speed and stability.
- In July 2022, Sykes Racing expanded its production facilities to meet the growing demand for competitive rowing boats in the Asia-Pacific region.
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Market Segmentation: In-Depth Analysis:
by Passenger Capacity Type
Single–row
Two-row
Four-row
Eight-row
The market for rowing boats is divided into four-, two-, and eight-row segments based on the kind of passenger capacity. Due to their larger seat capacities, which are advantageous for both passengers and cargo transportation, eight-row and four-row aircraft are capturing the majority of the market in 2023. Of all the boats, it is the fastest. Additionally, the single-row is better suited for adventurous activities. Boats with only one row are great for exercising.
by Application
Recreational rowing boat
Racing rowing boat
by Type
Sweep Rowing boats
Sculling Rowing boats
Adaptive Rowing boats
Others
by Sales Channel
Online Retails
Offline Retails
The rowing boat market is divided into two segments based on end-use: racing rowing boats and leisure rowing boats. The market for rowing boats is dominated by the recreational sector as it offers the ideal balance of healthy activity and fun. Additionally, it is very lightweight, sturdy, and user-friendly in accordance with the latest requirements, which is having a good effect on market expansion.
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Market Key Players : In-Depth Analysis:
1. Euro Diffusion’s
2. FILIPPI LIDO SRL
3. Row Alden
4. Rowing Yard Wiersma
5. Sykes Racing
6. ECHO ROWING
7. Kiwi International Rowing Skiffs Ltd.
8. Empacher
9. Vega Realisations Composites
10.Leo Coastal
Note:
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