The global leisure boat market is projected to reach USD 50,065.2 million in 2024, with an expected CAGR of 6.1% during the forecast period from 2024 to 2034. By 2034, the market value is estimated to reach approximately USD 90,508.6 million.
Among various types of leisure and recreational boats, yachts are anticipated to be in high demand through 2034. This surge is primarily driven by the increasing popularity of leisure cruising and boating, particularly in developed nations where disposable income levels are high.
While yacht sales are expected to grow at a moderate pace, companies are likely to enhance their profitability by introducing unique amenities and features. Wealthy individuals are expected to pursue high-end luxury yachts to celebrate significant life events on the water.
Comprehensive Market Insights: Full Report Overview
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.
“Integration of IoT technology, growing popularity of electric boats, and a heightened demand for used boats will likely propel the global growth of the leisure boats market over the forecast period,” – says an FMI analyst.
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.
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
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