The pleasure craft market - Spain

The global recreational boating market has displayed resilience with a positive outlook since 2020, following a period of recovery from the 2008 financial crisis. Notably, the sector experienced growth that varied across different market segments and geographies. The motorboat category, including luxury motor yachts, has seen substantial activity, while the market for sailing boats, such as traditional sailboats, catamarans, and dinghies, also contributed to the market dynamics. Kayaks, canoes, and rowboats represent alternative recreational options that continue to attract enthusiasts. Spain's market saw a sharp increase post-2014, reaching a peak in registrations due to a rising interest driven by booming tourism and higher disposable income among Spanish households, which translated into greater spending on leisure activities like boating. The Balearic Islands and Catalonia are at the forefront of the Spanish market, accounting for over 50% of rentals. Moreover, the rental segment has expanded significantly, facilitated by online platforms such as Nautal. Spanish manufacturers like Astilleros Astondoa have shown rapid recovery from the economic downturn, with a thriving market for boats under 8 meters long, especially for personal use. The industry is segmented by manufacturers, rental specialists with small fleets, and associated service providers. Taxation, including registration tax and VAT, and required documentation such as boating licenses and navigation certificates, remain regulatory aspects of the sector. Overall, the global market for pleasure craft, with Spain as a case study, underscores a positive trajectory with favorable growth prospects going into the future..Navigating Growth: Trends in Spain's Pleasure Craft Market Spain's recreational boating industry has witnessed an upward trajectory since recovering from the economic downturn, positioning itself as an integral part of the tourism and luxury leisure sector. Presenting a comprehensive view of the Spanish pleasure craft market reveals multifaceted growth influenced by several key factors and peppered with noteworthy statistics. Tourism's Tidal Impact on Pleasure Boating Tourism in Spain, a hotspot for European vacationers and a leading destination for outdoor leisure, has been a considerable driver of demand in the pleasure craft market. There's been an observable increase in tourist arrivals, with figures inching above 38 million in the first half of 2019, a 2.8% growth compared to the previous year. This influx is complemented by rising tourism expenditure, which saw nearly a 3% rise, hitting close to 80 billion euros. Moreover, within this surging wave of tourism, activities during the stay, which include pleasure boating, experienced over an 11% growth. A Surge in Disposable Income and Changing Consumer Behavior The changing economic climate has seen Spanish households experiencing a growth in disposable income, increasing by 11% from early 2014 to the first quarter of 2019. Interestingly, the savings rate dropped from 10% to 5.80% over six years, indicating a paradigm shift towards heightened consumption. This shift suggests that Spaniards are more inclined to indulge in leisure activities like pleasure boating. Pleasure Boating's Diverse Consumer Landscape When analyzing the rental market, a fragmented picture emerges, predominantly featuring Spanish nationals, who constitute around 70% of pleasure craft users. German and French tourists follow, contributing to 12.5% and 11% respectively. The demographic primarily consists of men (72%) sailing in groups, with family or friends making up 75% of rental occasions. Remarkably, a majority of these enthusiasts set sail an average of three times annually. Segmentation and Growth by Craft Type Focusing on private boat registrations, these accounted for 72% of the total in 2018, marking a 7.5% increase from the previous year. The boats facilitating this growth were less than 8 meters in length, cornering 85.6% of the rental market, with motorboats taking the lead at 43.2%. The demand for pleasure and for-profit registrations, despite growing, experienced only a modest 6.5% increase after a robust 60%.### Key Players in the Diverse Landscape of the Recreational Boating Market The recreational boating market is a deeply varied landscape that features an array of specialized companies, each playing a pivotal role in catering to the nuances of the nautical enthusiast's demands. This market is not merely a collection of businesses but an intricate network of manufacturers, distributors, service providers, and rental experts, each contributing expertise and products that help drive the sector forward. Below we explore some of the main players that stand out in the competitive arena of recreational boating. #### Pioneering Manufacturers Leading Innovation and Craftsmanship **Astilleros Astondoa** emerges as a national giant with an impressive legacy of luxury and craftsmanship. With over a century of history, Astondoa creates custom yachts that are a benchmark in the international boating industry. Known for their elegance, advanced technology, and world-class manufacturing, they stand out as a symbol of Spanish shipbuilding excellence. **Culmar** follows with its versatile offerings, demonstrating a strong presence in the market by catering to a clientele with diverse boating needs. Whether it is for leisure, sport, or luxury, Culmar offers a fleet that promises quality experiences. On the global front, **Beneteau** and **Jeanneau** are recognized for their dual specialization, both companies sailing ahead confidently in the motorboat and sailboat segments. Their commitment to quality and innovation makes them a preferred choice among boating enthusiasts. **Sunseeker** dominates the yacht market with its range of luxury performance motor yachts. The UK-based company exemplifies the confluence of superior craftsmanship, cutting-edge design, and unparalleled attention to detail, propelling it to the forefront of the high-end yacht segment. #### Distribution and Retail Magnates Capitalizing on Market Demand The distribution landscape is populated by a multitude of smaller players alongside a few larger entities that manage more extensive fleets. These companies focus not just on sales but also on delivering comprehensive packages that often include maintenance, servicing, and ensuring regulatory compliance for their customers. #### Rental Market Innovators Bringing Convenience to the Forefront Companies like **Nautal** and **Click&Boat** are trailblazers in the boat rental domain, offering platforms that simplify the process of finding and booking recreational boats. Their services reflect the demand for accessible and flexible boating experiences, accommodating the surge in tourism and the changing preferences of consumers who opt for rentals as a practical alternative to ownership. #### Service Specialists Ensuring Safe and Pleasant Voyages The burgeoning number of

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• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 07/10/2020

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