Archive for » October 2nd, 2014«

US demand for recreational boating products to exceed $13 billion

The Freedonia Group, Inc.
October 2, 2014
Filed under News

CLEVELAND, OH  After taking a beating during the economic downturn between 2007 and 2009, sales of recreational boating products are expected to increase 6.1 percent per year to $13.1 billion in 2018, albeit from a reduced 2013 base. Effects of the downturn were harsh and extended beyond the end of the recession because boating products are luxury items. According to analyst Christine Fleig, “The market depends on strong consumer spending as well as reasonable access to credit to both enable boat dealers to purchase inventory and allow consumers to finance such large items.” These and other trends are presented in Recreational Boating, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

Recreational boating advances will be driven by accelerations in personal consumption expenditures and disposable personal incomes, and by rising spending on recreation and leisure activities. The aging used boat fleet will also aid sales of new boats as more boat owners will be looking to trade up. In order to grow, the industry must also expand the potential customer market by attracting women and minority participants who have been traditionally underrepresented among boat owners. Reaching other demographics is especially crucial as the large “baby boom” generation transitions out of the target age range for boat buying and the generation that follows – “generation X” – is smaller.

Traditional powerboats, the largest boat segment, accounted for 85 percent of boat sales in 2013. Sales in this segment will be boosted by the continuing release of new, more powerful and more efficient engine lines. In some cases, the newer generations of engines have contributed to the versatility of certain types of watercraft, such as pontoons that are powerful enough to pull inner-tubers or skiers. This is important because the boats helping to lead the industry away from its post recession levels will include more versatile craft as consumers seek boats that can fill multiple roles, e.g., as a daytime cruiser or a fishing or sports boat. Sales in the smaller personal watercraft (PWC) segment will be aided by the fact that they are relatively low cost, portable, easy to operate compared to most other types of boats and typically seen as entry-level vessels. In contrast, demand for sailboats will continue to be restrained by the aging of the boating population since these boats are physically demanding to operate.


Recreational Boating
(published 09/2014, 377 pages) is available for $5300 from The Freedonia Group, Inc. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com



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Sailing vessel towed to safety by tugs

A spokesman for the joint rescue co-ordination centre in Halifax says the vessel made the distress call at 3:30 p.m. when it was off of York Redoubt, just southwest of the city.

Capt. Peter Ryan says two coast guard vessels, a cormorant helicopter and a fast-response vessel were assigned to the emergency and two tug boats also proceeded to the area.

Ryan says the tugs pulled the sailing vessel away from the shore without any injuries or damage.

 


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Drifting sailing vessel with 51 on board towed to safety

A sailing vessel with 51 people on board was towed to safety Wednesday after reporting it had lost power and was drifting close to shore near Halifax harbour.

A spokesman for the joint rescue co-ordination centre in Halifax says the vessel made the distress call at 3:30 p.m. when it was off of York Redoubt, just southwest of the city.

Capt. Peter Ryan says two coast guard vessels, a cormorant helicopter and a fast-response vessel were assigned to the emergency and two tug boats also proceeded to the area.

Ryan says the tugs pulled the sailing vessel away from the shore without any injuries or damage.


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Team NZ: Back to work for Peter Burling and Blair Tuke

It’s back to work for Peter Burling and Blair Tuke. The holiday’s over.

They took a week off after their win at the 49er world championships in Spain and now they’re at Nice, France, for another hectic few days at the Extreme Sailing Series.

And the pressure is on to maintain the momentum gained by Dean Barker and crew at the Istanbul round of the series in September.

Barker won that regatta, lifting the team back to third place on the series’ 2014 leader board.

Burling and Tuke, whose last regatta in the Extreme 40 was at St Petersburg in June, were feeling “a little rusty” and out of touch with the unique Extreme 40 style of racing.

Overnight they were head-first into practice day, making the most of every minute on the water. First the Emirates Team New Zealand chase boat ran some races against Alinghi. Other boats joined in until the race committee started official practice in the afternoon.

The committee ran six races until the breeze, never more than 6-7 knots faded completely.

After a slow start, the Emirates Team New Zealand crew (Burling, Tuke, Glenn Ashby, Jeremy Lomas and Edwin Delaat) began to get into the groove and performance improved throughout the session.

The fleet will have to cope with light breeze forecast for the rest of the week.

Peter Burling: “There will be a light offshore breeze in the morning, followed by three or four hours of calm before a light onshore breeze fills in. We are not expecting more than five knots at any time and will have to adapt techniques to suit.

“In conditions like that it’s very easy to go from the front to the back of the fleet …. it will be a case of trying to get off the start line cleanly and take any opportunity for a gain that occurs.”

Racing at Nice starts on Thursday and concludes on Sunday.

Extreme Sailing Series 2014

overall standings after six of eight regattas

1st Alinghi (SUI) 55 points.

2nd The Wave, Muscat (OMA) 54 points.

3rd Emirates Team New Zealand (NZL) 43 points.

4th Realteam by Realstone (SUI) 36 points.

5th J.P. Morgan BAR (GBR) 29 points.

6th SAP Extreme Sailing Team (DEN) 24 points.

7th Oman Air (OMA) 23 points.

8th Gazprom Team Russia (RUS) 23 points.

9th Red Bull Sailing Team (AUT) 23 points.

10th Groupama sailing team (FRA) 20 points.

11th GAC Pindar (AUS) 6 points.

Burling and Tuke have been nominated for International Sailing Federation’s the World Sailor of the Year award.

Their nomination reads: “New Zealand’s Peter Burling and Blair Tuke have been a class above the rest in the 49er demonstrating exceptional teamwork, athletic prowess and drive that cannot be rivalled. Over the nomination period the Kiwis brushed aside their challengers with ease, finding an edge that many can only dream of. They took their first world title in Marseille, France in 2013 and in their defence of the title at the Santander 2014 ISAF Worlds they crushed the opposition, sealing gold with a 46 point margin.”

49er

2013 World Champions

2014 World Champions

2014 Open European Champions

11 consecutive 49er regatta victories.

Other nominations are: Mat Belcher and Will Ryan (AUS); Bill Hardesty (USA);

Giles Scott (GBR); James Spithill (AUS).


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