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“What Growth Rate is Predicted for the Marinas Market for 2024-2033?
There has been a significant expansion in the size of the marinas market in the preceding years. The market, valued at $18.89 billion in 2023, is projected to escalate to $19.87 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.2%. The historic period has seen growth due to factors such as trends in recreational boating, waterfront property development, tourism and travel, economic progress in coastal regions, and nautical events and competitions.

In the coming years, the size of the marinas market is predicted to expand significantly, reaching an estimated value of $24.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. Factors contributing to the growth during this forecast period involve sustainable and eco-conscious practices, maritime tourism, regulatory compliance, and investments in waterfront properties, coupled with the appeal of a boating lifestyle. Some major trends that can be expected during this period include an emphasis on safety and security, environmental compliance, infrastructure upgrades, development of destination marinas, and a focus on community and events.

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What Drivers Are Enhancing the marinas Market’s Growth?
The marinas market is forecasted to expand on account of the rising boating industry. Broadly, the boating industry entails every aspect of the economy related to varied sizes of watercraft designed to operate, float, and travel on water, specifically on inland waterways or safeguarded coastal areas. Marinas provide a wide range of services like upkeep, spare parts, accessories, cleaning, and fueling, ensuring a secure environment for boats and yachts. In addition, they offer various dining and recreation options. Notably, in January 2023, the National Marine Manufacturers Association (NMMA), a US-based, non-profit association representing boat and marine engine manufacturers, disclosed a surge in 2022’s new powerboat unit sales in the USA, with an estimated record of 250,000 new units. Early indications for 2023 suggest a strong demand, with new retail unit sales expected to maintain the levels of 2022. As such, the burgeoning boating industry is fueling the advancement of the marina market.

What Segments Are Central to the Marinas Market?
1) By Type: Private, Public, Commercial
2) By Port Type: Seaport, Inland Port
3) By Application: Pleasure Marinas, Fishing Marinas, Commercial Marinas, Military Marinas

What Emerging Trends Are Influencing Marinas Industry Dynamics?
The marinas market is increasingly embracing the trend of environmental sustainability. Businesses in this field are pivoting towards environmentally friendly alternatives to solidify their market presence. Marinas can potentially increase their efficiency and meet their energy needs more effectively by integrating renewable energy sources such as wind turbines and solar panels. Notably, in May 2021, MDL Marinas Ltd, a UK-based marina development and operations firm, adopted solar edge panels. Specifically, 100 Solar Edge panels were installed at their Cobb’s Quay Marina, with the generated electricity being used within the vicinity and any surplus energy redirected into the grid. Prior to the Cobb’s Quay Marina initiative, the company had already set up solar panels at Hamble Point and Ocean Village marinas. This effort resulted in a contribution of 150,000 kWh of energy from April 2020 to February 2021, a feat equating to the planting of 1,500 trees annually.

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Which Geographic Locations Are Critical to the Growth of the Marinas Market?
North America was the largest region in the marinas market in 2023. The regions covered in the marinas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Marinas Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the marinas market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Marinas Market Include

1. Marinas Market Executive Summary
2. Marinas Market Segments
3. Marinas Market Size And Template Market Growth Rate
4. Key Marinas Market Trends
5. Major Marinas Market Drivers
……
25. Key Mergers And Acquisitions In The Marinas Market
26. Top Marinas Companies
27. Marinas Market Opportunities And Strategies
28. Marinas Market, Conclusions And Recommendations
29. Appendix

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