The Middle East leisure boats market is expected to grow to US$ 2,947.1 million by 2027 from US$ 1,840.0 million in 2017, growing at a CAGR of 4.9%.
The rise in the popularity of several exciting and extreme destinations around the globe have significantly influenced the growth of leisure boats, and the trend is expected to persist in the coming years. The hastily increasing urban population and propelling buyer confidence in the yacht industry is yet another factor pushing the demand for leisure boats globally. Moreover, the Middle East is currently under the development stage of the market, and therefore all the government and other associated initiatives are expected to have a relatively higher influence on the leisure boats market.
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Some of the major events in this region include the Dubai Industrial Strategy 2030, which has an objective to develop Dubai as a global destination and platform for overseas companies looking for sustainability and growth. The initiative is expected to promote an expansion of Dubai’s yacht and boats manufacturing activities to accomplish domestic demand.
The leisure boats market has been segmented on the basis of type and application. On the basis of type, the leisure boats market has been bifurcated into new leisure boats and used leisure boats. Further, the applications of these leisure boats include in the sailboats, runabouts, jet boats, cabin cruiser, and watercraft. The analysis of the Middle East region is conducted by considering various countries including, Kuwait, UAE, Oman, and Qatar. In the past couple of years, the region has emerged as a foremost center for leisure boating and is a flourishing market for boats and yachts. This region is comprised of high net-worth individuals who have a relatively higher propensity to spend on leisure and luxury. Moreover, the Marine infrastructure expansion and development of tourism are probable to pave new opportunities in the leisure boat market.
The overall leisure boats market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the leisure boats market. It also provides the overview and forecast for the leisure boats market based on all the segmentation provided with respect to the Middle East region. Also, the primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the leisure boats market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION 10
1.1 SCOPE OF THE STUDY 10
2. LEISURE BOATS MARKET – KEY TAKEAWAYS 11
3. LEISURE BOATS MARKET LANDSCAPE 13
3.1 OVERVIEW 13
3.2 MARKET SEGMENTATION 14
3.2.1 Middle East Leisure Boats Market – By Type 15
3.2.2 Middle East Leisure Boats Market – By Application 15
3.2.3 Middle East Leisure Boats Market – By Country 15
3.3 PEST ANALYSIS 16
3.3.1 Leisure Boats Market – Middle East PEST Analysis 16
4. LEISURE BOATS MARKET – KEY INDUSTRY DYNAMICS 18
4.1 KEY MARKET DRIVERS 18
4.1.1 Government strategies for boosting maritime industry 18
4.1.2 Focus on development of tourism sector 18
4.2 KEY MARKET RESTRAINTS 19
4.2.1 High maintenance cost and lack of repair and maintenance facilities 19
4.3 KEY MARKET OPPORTUNITIES 19
4.3.1 High spending capability of the population and increasing waterfront projects 19
4.4 FUTURE TRENDS 19
4.4.1 Growth in adoption of hybrid leisure boats 19
4.4.2 Evolution of autonomous or self-driving boats 20
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 20
5. LEISURE BOATS MARKET – MIDDLE EAST MARKET ANALYSIS 21
5.1 LEISURE BOATS – MIDDLE EAST MARKET OVERVIEW 21
5.2 LEISURE BOATS – MIDDLE EAST MARKET AND FORECAST TO 2027 21
5.2.1 Middle East Leisure Boats Market Revenue and Forecasts to 2027 (US$ Mn) 21
5.2.2 Middle East Leisure Boats Market Breakdown by Key Countries 23
5.2.2.1 UAE Leisure Boats Market Revenue and Registered Volume Forecast to 2027 (US$ Mn, Unit) 24
5.2.2.2 Kuwait Leisure Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 25
5.2.2.3 Qatar Leisure Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 26
5.2.2.4 Oman Leisure Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 27
5.2.2.5 Rest of Middle East Leisure Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 28
6. LEISURE BOATS MARKET REVENUE AND FORECASTS TO 2027 – TYPE 29
6.1 OVERVIEW 29
6.2 LEISURE BOATS MARKET BREAKDOWN, BY TYPE, 2017 & 2027 29
6.3 NEW LEISURE BOATS 30
6.3.1 Overview 30
6.3.2 New Leisure Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 31
6.4 USED LEISURE BOATS 32
6.4.1 Overview 32
6.4.2 Used Leisure Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 32
7. LEISURE BOATS MARKET REVENUE AND FORECASTS TO 2027 – APPLICATION 33
7.1 OVERVIEW 33
7.2 LEISURE BOATS MARKET BREAKDOWN, BY APPLICATION, 2017 & 2027 33
7.3 SAILBOATS 35
7.3.1 Overview 35
7.3.2 Sail Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 35
7.4 RUNABOUTS 36
7.4.1 Overview 36
7.4.2 Runabouts Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 36
7.5 JETBOATS 37
7.5.1 Overview 37
7.5.2 Jet Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 37
7.6 CABIN CRUISER 38
7.6.1 Overview 38
7.6.2 Cabin Cruiser Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 38
7.7 WATERCRAFTS 39
7.7.1 Overview 39
7.7.2 Watercraft Boats Market Revenue and Registered Volume Forecasts to 2027 (US$ Mn, Units) 39
8. INDUSTRY LANDSCAPE 40
8.1 OVERVIEW 40
8.2 MARKET INITIATIVE 40
8.3 NEW DEVELOPMENT 41
9. COMPETITIVE LANDSCAPE 42
9.1 COMPETITIVE PRODUCT MAPPING 42
9.2 MARKET POSITIONING – MIDDLE EAST TOP 5 PLAYERS RANKING 44
10. LEISURE BOATS MARKET, KEY COMPANY PROFILES 45
10.1 GULF CRAFT INC. 45
10.1.1 Key Facts 45
10.1.2 Business Description 45
10.1.3 Financial Overview 45
10.1.4 SWOT Analysis 46
10.1.5 Key Developments 47
10.2 AL SHAALI MARINE 48
10.2.1 Key Facts 48
10.2.2 Business Description 48
10.2.3 Financial Overview 48
10.2.4 SWOT Analysis 48
10.2.5 Key Developments 50
10.3 AL HAREB MARINE 51
10.3.1 Key Facts 51
10.3.2 Business Description 51
10.3.3 Financial Overview 51
10.3.4 SWOT Analysis 52
10.4 AL FAJER MARINE LLC 54
10.4.1 Key Facts 54
10.4.2 Business Description 54
10.4.3 Financial Overview 54
10.4.4 SWOT Analysis 55
10.5 AL SEER MARINE SUPPLIES & EQUIPMENT COMPANY L.L.C 57
10.5.1 Key Facts 57
10.5.2 Business Description 57
10.5.3 Financial Overview 57
10.5.4 SWOT Analysis 57
10.5.5 Key Developments 59
10.6 RIBCRAFT MIDDLE EAST 60
10.6.1 Key Facts 60
10.6.2 Business Description 60
10.6.3 Financial Overview 60
10.6.4 SWOT Analysis 60
10.6.5 Key Developments 62
10.7 OCEAN BOATS 63
10.7.1 Key Facts 63
10.7.2 Business Description 63
10.7.3 Financial Overview 63
10.7.4 SWOT Analysis 63
10.8 INSTINCT MARINE 65
10.8.1 Key Facts 65
10.8.2 Business Description 65
10.8.3 Financial Overview 65
10.8.4 SWOT Analysis 66
10.8.5 Key Developments 67
10.9 AL SUWAIDI MARINE 68
10.9.1 Key Facts 68
10.9.2 Business Description 68
10.9.3 Financial Overview 68
10.9.4 SWOT Analysis 68
10.9.5 Key Developments 70
10.10 AL SHAALI MARINE 71
10.10.1 Key Facts 71
10.10.2 Business Description 71
10.10.3 Financial Overview 71
10.10.4 SWOT Analysis 71
10.10.5 Key Developments 73
11. APPENDIX 74
11.1 ABOUT THE INSIGHT PARTNERS 74
11.2 GLOSSARY OF TERMS 74
11.3 METHODOLOGY 75
11.3.1 Coverage 76
11.3.2 Secondary Research 76
11.3.3 Primary Research 77
LIST OF TABLES
TABLE 1. LEISURE BOATS MARKET REVENUE AND VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 23
TABLE 2. UAE LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 24
TABLE 3. KUWAIT LEISURE BOATS MARKET REVENUE AND VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 25
TABLE 4. QATAR LEISURE BOATS MARKET REVENUE AND VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 26
TABLE 5. OMAN LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 27
TABLE 6. REST OF MIDDLE EAST LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 28
TABLE 7. MIDDLE EAST LEISURE BOATS MARKET REVENUE AND FORECASTS TO 2027 (US$ MN, UNITS) – TYPES 29
TABLE 8. MIDDLE EAST REGISTERED LEISURE BOATS MARKET VOLUME AND FORECASTS TO 2027 (UNITS) – TYPES 30
TABLE 9. MIDDLE EAST LEISURE BOATS MARKET REVENUE AND FORECASTS TO 2027 (US$ MN) – APPLICATION 33
TABLE 10. MIDDLE EAST REGISTERED LEISURE BOATS MARKET VOLUME AND FORECASTS TO 2027 (UNITS) – APPLICATION 34
TABLE 11. GLOSSARY OF TERMS, LEISURE BOATS MARKET 74
LIST OF FIGURES
FIGURE 1. MIDDLE EAST LEISURE BOATS MARKET REVENUE & FORECAST TO 2027 11
FIGURE 2. REGISTERED LEISURE BOATS MARKET BREAKDOWN, BY TYPE, 2017 & 2027 (%) 12
FIGURE 3. LEISURE BOATS MARKET SEGMENTATION 14
FIGURE 4. LEISURE BOATS MARKET SEGMENTATION, BY GEOGRAPHY 14
FIGURE 5. LEISURE BOATS MARKET - MIDDLE EAST PEST ANALYSIS 16
FIGURE 6. LEISURE BOATS MARKET IMPACT ANALYSIS OF DRIVER AND RESTRAINTS 20
FIGURE 7. MIDDLE EAST LEISURE BOATS MARKET REVENUE AND FORECASTS TO 2027 (US$ MN) 22
FIGURE 8. MIDDLE EAST REGISTERED LEISURE BOATS MARKET VOLUME AND FORECASTS TO 2027 (UNITS) 22
FIGURE 9. MIDDLE EAST LEISURE BOATS MARKET BREAKDOWN BY KEY COUNTRIES, 2017-2027 (%) 23
FIGURE 10. MIDDLE EAST REGISTERED LEISURE BOATS MARKET BREAKDOWN BY KEY COUNTRIES, 2017-2027 (%) 23
FIGURE 11. UAE LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNIT) 24
FIGURE 12. KUWAIT LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 25
FIGURE 13. QATAR LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 26
FIGURE 14. OMAN LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 27
FIGURE 15. REST OF MIDDLE EAST LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 28
FIGURE 16. LEISURE BOATS MARKET BREAKDOWN, BY TYPE, 2017 & 2027 (%) 29
FIGURE 17. REGISTERED LEISURE BOATS BREAKDOWN, BY TYPE, 2017 & 2027 (%) 30
FIGURE 18. NEW LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 31
FIGURE 19. USED LEISURE BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 32
FIGURE 20. LEISURE BOATS MARKET BREAKDOWN, BY APPLICATION, 2017 & 2027 (%) 33
FIGURE 21. REGISTERED LEISURE BOATS VOLUME BREAKDOWN, BY APPLICATION, 2017 & 2027 (%) 34
FIGURE 22. SAIL BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 35
FIGURE 23. RUNABOUTS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 36
FIGURE 24. JET BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 37
FIGURE 25. CABIN CRUISER BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 38
FIGURE 26. WATERCRAFT BOATS MARKET REVENUE AND REGISTERED VOLUME FORECASTS TO 2027 (US$ MN, UNITS) 39
The List of Companies - Middle East Leisure Boats Market
- Gulf Craft Inc.
- AL Shaali Marine
- AL Hareb Marine
- AL Fajer Marine LLC
- Al Seer Marine Supplies & Equipment Company L.L.C
- Ribcraft Middle East
- Ocean Boats
- Al Suwaidi Marine
- Al Marakeb Manufacturing Boats Est
- Instinct Marine
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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