Global Marinas Market Anticipated to Reach US$ 29,555.9 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Marinas Market” By Type, By Infrastructure, By Ownership, By Size, By Application, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031, the market was valued at US$ 15,999.9 Million in 2022 and is anticipated to expand at a growth rate of 7.4% by 2031.

A marina is a facility along the coast where boats, yachts, and other watercrafts are docked, launched, and stored. It typically includes a protected harbor as well as services such as fueling stations, repair shops, restrooms, and waste disposal. Marinas give recreational boaters access to waterways where they are able to engage in activities such as fishing, sailing, watersports, and cruising. They frequently provide a wide variety of services such as fueling stations, water & power hookups, waste disposal, and boat maintenance. Many marinas have restaurants, bars, showers, restrooms, and, on rare occasions, recreational facilities such as swimming pools or tennis courts.

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The Global Marinas Market has been segmented in terms of type, infrastructure, ownership, size, application, and region. In terms of type, the Global Marinas Market is split into coastal marinas and river or lake marinas. Based on infrastructure, the market is divided into fixed marinas and floating marinas. Based on ownership, the market is fragmented into private marina and public marina. Based on size, the market is divided into small marinas (Less than 100 Slips), medium marinas (100-500 Slips), and large marinas (More than 500 Slips). Based on application, the market is fragmented into recreational activities, commercial activities, and government activities. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The global marinas market was hit hard by the COVID-19 pandemic, affecting marina companies, boat owners, and the entire boating industry. The impact of COVID-19 on the marinas market varied by region, depending on the severity of the pandemic, the effectiveness of public health measures, and the local economy. The market began to recover, as travel restrictions eased and vaccination efforts progressed; however, the challenges highlighted the importance of diversifying revenue streams and preparing for future industry disruptions. The pandemic highlighted the importance of marina operators developing resilience plans. It emphasized the importance of diversifying revenue streams and being adaptable to changing circumstances. Marinas began to recover as the situation improved and travel restrictions were lifted, though the challenges posed by the pandemic highlighted the importance of a flexible and proactive approach in the marinas industry. Marina owners and operators have continued to innovate and plan for potential future disruptions in order to ensure their financial sustainability.

Key Takeaways from the Study:

• Players in the Global Marinas Market include BR Marinas, Grand Harbour Marina p.l.c., Karpaz Bay Resort Ltd., MarineMax, MDL MARINAS, One15 Brooklyn Marina Llc, Porto Montenegro, Safe Harbor Marinas, LLC, Southern Marinas, Suntex Marinas, TransEurope Marinas, Vilamoura Marina, and Westrec Marinas. These players held a major share of the Global Marinas Market in 2022.

• Technological advancements in marina infrastructure, growing interest in water-based leisure and sports, and rising boat ownership & sales are key factors that drive the Marinas market.

• Expansion of integrated marinas along with residential and commercial areas and strategic partnerships and mergers between marina operators are expected to create opportunities in the coming years.

• Based on type, the market is segmented into coastal marinas and river or lake marinas. The coastal marinas segment is expected to hold a considerable share of the market during the forecast period.

• Based on infrastructure, the market is fragmented into fixed marinas and floating marinas. fixed marinas segment holds a key share of the market.

• Based on ownership, the global Marinas market is bifurcated into private marina and public marina. The private marina segment is anticipated to expand at a significant CAGR during the forecast period.

• Based on size, the market is segmented into small marinas (less than 100 slips), medium marinas (100-500 slips), and large marinas (more than 500 slips). The large marinas are anticipated to expand at a significant CAGR during the forecast period.

• Based on application, the market is segmented into recreational activities, commercial activities, and government activities. The recreational activities segment is anticipated to expand at a significant CAGR during the forecast period.

• Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  North America accounted for a significant share of the market in 2022. The US and Canada have a high number of marinas, catering to the demands of the boating community. Key growth drivers include increasing disposable income, tourism, and demand for waterfront properties. The presence of large, natural water bodies across the region attracts boating enthusiasts. Favorable government initiatives to develop and maintain marinas encourage market expansion in North America.

Report Scope:

Target Audience:

• Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.

• Demand Side: Consulting Companies and End-Consumers

• Regulatory Side: Concerned government authorities, and other approved regulatory bodies.

• Associations and Industry Bodies