January 29, 2008 - Year 2007 for boating industry came with some big surprises. The recreational boat market was down in North America whereas Europe reached a record high in 2007. For the first time in the history of the boat market, the European boat market exceeded North American boat market in 2007 in terms of dollar value. Growth is driven by huge demand for luxury cruisers and mega yachts in Europe. This is according to a new market research report titled “Global recreational boating industry analysis and forecast 2008-2013” from Lucintel. Recreational boats include inboard boats, outboard boats, stern drive boats, personal watercrafts, sail boats and others. In terms of unit shipment, North America is still the largest segment.

Based on Lucintel research, at the end of calendar year 2007, the total size of the global boat industry reached an estimated $25 billion. The global demand for recreational boats is projected to grow at a 7.6% annual rate, reaching $38.3 billion in annual sales by 2013, according to this new research from Lucintel. The Europe and Asia Pacific region will provide the future growth for the boat market as sales will be bolstered by continued economic growth in these regions. In the boating industry, there is ongoing shift in product mix toward larger and expensive boats.

This 330-page report includes demand trends and forecasts, market size estimates by boat types, regional analysis, market share analysis and other critical business information. To obtain a detailed table of contents and pricing information on this latest report (published January, 2008), please contact helpdesk at 972-636-5056, or via email at helpdesk@lucintel.com  or visit http://www.lucintel.com/MarketMarine.aspx.