The global boat industry saw a 4.4% increase in sales last year compared to 2015 and that figure is expected to continue rising.
According to a new study by Interconnection Consulting, the total volume of the global boat industry amounted to €14.5bn last year and is expected to rise to over €15bn in 2017.
“The rapid economic development, the increase in disposable income and the growing number of dollar millionaires and low market saturations are very good prerequisites for future growth in the global boat industry,” said Jan Hudak, an author of the study.
The prices for motorboats and sailing yachts vary widely throughout the world. For large boats, it is defined internationally, over all it holds a market share of 28.1% while smaller boats have a market share of 20.2%.
Catamarans will constitute the biggest growth market in the future according to Mr Hudak and are growing worldwide more than the global boat market.
The growth in sales in the motorboat segment amounted to 4.6% last year and is predicated to continue growing over the next five years, while sailing boats increased their sales by 3.5% in 2016.