The global leisure boats market is anticipated to reach a valuation of US$ 78.4 Billion by 2032, with sales growing at a moderate CAGR of 5.8% from 2022 to 2032. Valued at US$ 42.6 Billion in 2021, the target market will likely reach an estimated US$ 44.6 Billion by the end of 2022.
The Leisure Boats Market is experiencing significant growth driven by several factors, including increasing disposable incomes, rising consumer interest in recreational boating activities, and technological advancements in boat design and manufacturing. Leisure boats, also known as pleasure boats or recreational boats, are vessels designed for recreational use on water bodies such as lakes, rivers, and coastal waters for activities such as cruising, fishing, watersports, and relaxation.
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One of the primary drivers of this market is the growing disposable incomes and changing lifestyles of consumers worldwide. As disposable incomes rise and consumer spending on leisure and recreational activities increases, more individuals and families are investing in leisure boats for their enjoyment and relaxation. Leisure boats offer opportunities for outdoor recreation, socializing, and exploring scenic waterways, driving the demand for a wide range of boats across various segments and applications.
Moreover, rising consumer interest in recreational boating activities is fueling the growth of the leisure boats market. Boating is a popular recreational activity enjoyed by millions of people around the world, offering opportunities for relaxation, adventure, and socializing on the water. As people seek outdoor experiences and connections with nature, there is a growing demand for leisure boats that provide comfort, convenience, and performance for a wide range of boating activities.
Furthermore, advancements in boat design, materials, and technology are driving innovation and product development in the leisure boats market. Manufacturers are introducing new models of leisure boats with improved performance, comfort, safety, and environmental sustainability features to meet the evolving needs and preferences of consumers. Advanced features such as efficient propulsion systems, ergonomic seating arrangements, intelligent navigation systems, and eco-friendly materials are being incorporated into modern leisure boats to enhance the overall boating experience.
Key Takeaways:
- Rising demand for electric boats will strengthen market prospects.
- Europe’s leisure boat market will grow at a CAGR of 5.8%, reaching a value of US$ 19.6 Bn by 2032.
- The leisure boat market in the United States will be a major contributor to market growth by generating an opportunity of US$ 26.3 Bn during the assessment period.
- The diesel propulsion system will gain popularity and register a CAGR of 5.3% during the forecast period.
Competitive Landscape
Avon Marine, Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Bombardier Recreational Products Inc., Brunswick Corporation, Chaparral Boats Inc., Catalina Yachts, Farr Yacht Design, Ltd., Ferretti S.P.A., Fountain Powerboats, Inc., Groupe Beneteau, Sunseeker International Limited, Malibu Boats, Marine Product Corporation, MasterCraft Boat Company, Polaris Inc., and Ranger Boats among others are some of the major players in the leisure boats market profiled in the full version of the report.
Leading market players are concentrating on integrating new and advanced technologies into their products. These firms are keen on joint ventures, partnerships, and collaborations to gain a competitive advantage.
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Key Segments Covered in Leisure Boats Industry Survey
Leisure Boats Market by Type:
- New Leisure Boat
- Motorized/Power Boats
- Non-motorized Boats
- Used Leisure Boat
- Motorized/Power Boats
- Non-motorized Boats
- Equipment
- Boat and Yacht Monitoring Solutions
- IoT Sensors
- Telematics Solutions
- Other Equipment
Leisure Boats Market by Propulsion System:
- Diesel
- Gas
- Electric / Hybrid
- Sail Drive
Leisure Boats Market by Region:
- North America Leisure Boats Market
- Europe Leisure Boats Market
- Asia Pacific Leisure Boats Market
- Middle East & Africa Leisure Boats Market
- Latin America Leisure Boats Market
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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