Leisure Boat Market Size, Share and Segmentation by Type (New Leisure Boat, Used Leisure Boat, Monitoring Equipment), by Product (Bowrider, Catamaran, Cruiser, Pontoon, Yacht, Sailboat), by Regions and Global Market Forecast 2023-2030
Report Id: SNS/AUTO/1276 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Leisure Boat Market Size was valued at USD 43.81 billion in 2022 and is expected to reach USD 62.58 billion by 2030 and grow at a CAGR of 4.56% over the forecast period 2023-2030.
A recreational boat used for tourism and pleasure is known as a leisure boat. Luxury cabins and other amenities may be available on these boats. Sailboats, runabouts, towboats, jet boats, cabin cruisers, and watercraft are examples of leisure boats. Boating for recreation is a pleasant way to spend time on the water. Runabouts, towboats, fishing boats, sailboats, pontoon boats, sterndrive powerboats, jet boats, personal watercraft, propulsion systems, and cabin cruisers are among the several types of recreational boats used for leisure boating.
Recreational boating competitions are open to various types of boats, including those driven by an engine, sails, or human power. Recreational boats require high-performance engines, and the horsepower required will affect the boat's overall cost. Additionally, additional features and fittings, such as extra storage, seating, or custom interiors, boost the initial cost of boats. Various charges, such as registration fees, taxes, insurance, mooring or dock fees, routine maintenance, and overhaul repair, all contribute to the overall cost of ownership of these boats.
MARKET DYNAMICS:
KEY DRIVERS:
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Advanced technology integration in pleasure boats.
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Increasing the number of people who enjoy pleasure boating.
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The expanding tourism industry.
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The rate of urbanization is increasing.
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The boating industry's tremendous growth.
RESTRAINTS:
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Recreational boats have substantial maintenance and ownership costs.
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End-users must pay a high tax and insurance cost, which limits the market representation of pleasure boats.
OPPORTUNITIES:
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New commercial potential is emerging as consumer engagement in marine recreational activities rises.
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The number of boat clubs and memberships is projected to rise, which will enhance recreational boat purchases.
CHALLENGES:
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Accidents are becoming more common.
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Coronavirus containment measures had a significant impact on the pleasure boat sector ecology.
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The lack of raw materials and manpower caused many problems, resulting in a major demand-supply mismatch.
IMPACT OF COVID-19
COVID-19 has wreaked havoc on the tourism industry around the world, imposing tight limitations on foreign travel. Several manufacturing factories closed and firms faced a labor shortage in the first two quarters of 2020, disrupting the whole supply chain. The COVID-19 also had an influence on exports and imports, resulting in a lack of boat-building equipment and sub-assemblies. As a result, new customers faced lengthy wait times as manufacturers focused their efforts on guaranteeing the timely delivery of pending orders. Along with boat sales, service revenue suffered as tiny third-party merchants were forced to close their doors due to the financial crisis brought on by the lockdown limitations.
KEY MARKET PLAYERS:
Avon Marine.; Brunswick Corporation; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Azimut Benetti S.p.A, Chaparral Boats, Inc.; Farr Yacht Design; Fountain Powerboats Inc., Ferretti S.P.A.; are the major key players in the industry.
MARKET ESTIMATION:
Market, By Type:
The market is divided into three categories based on the kind of type: New Leisure Boat, Used Leisure Boat, and Monitoring Equipment. Due to the quick and easy availability and relatively cheaper cost, the used leisure boat category held the greatest revenue share of almost 76.0 percent in 2020.
Market, By Product:
The market is divided into products, which are further divided into Bowrider, Catamaran, Cruiser, Pontoon, Yacht, and Sailboat. People's active engagement in marine sporting events and recreational boating activities is predicted to increase the demand for sports yachts in industrialized countries.
MARKET SEGMENTATION:
By Type:
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New Leisure Boat
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Used Leisure Boat
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Monitoring Equipment
By Product:
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Bowrider
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Cruiser
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Yacht
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Pontoon
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Catamaran
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Sailboat
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Others
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REGIONAL ANALYSIS:
In terms of revenue, North America dominated the market, accounting for more than 45.3 percent of worldwide sales in 2021. The recovery of the economy following the recession, together with the availability of inexpensive finance in the regional market, is leading to an increase in boat sales in the region. Furthermore, the regional market is being driven by the growing demand for recreational boats in the United States. During the forecast period, the European market is expected to grow at the fastest rate. The regional market is expected to develop due to rising demand for recreational boats in nations such as the United Kingdom, France, Germany, Italy, and Spain.
The regional market is expected to rise due to an increase in persons participating in recreational boating activities. Increased recreational boating events and manufacturer trade shows are also driving the market's expansion in Europe.
REGIONAL COVERAGE:
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North America
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The USA
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Canada
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Mexico
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Europe
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Germany
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The UK
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France
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Italy
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Spain
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The Netherlands
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Rest of Europe
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Asia-Pacific
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Japan
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south Korea
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China
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India
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Australia
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Rest of Asia-Pacific
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The Middle East & Africa
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Israel
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UAE
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Argentina
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Rest of Latin America
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| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 43.81 Billion |
| Market Size by 2030 | US$ 62.58 Billion |
| CAGR | CAGR of 4.56% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (New Leisure Boat, Used Leisure Boat, Monitoring Equipment) • by Product (Bowrider, Catamaran, Cruiser, Pontoon, Yacht, Sailboat)+[@Details] |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Avon Marine.; Brunswick Corporation; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Azimut Benetti S.p.A, Chaparral Boats, Inc.; Farr Yacht Design; Fountain Powerboats Inc., Ferretti S.P.A |
| Key Drivers | Advanced technology integration in pleasure boats. Increasing the number of people who enjoy pleasure boating. |
| RESTRAINTS | Recreational boats have substantial maintenance and ownership costs. End-users must pay a high tax and insurance cost, which limits the market representation of pleasure boats. |
Frequently Asked Questions (FAQ) :
What is the size of the market by 2028?
Ans:- The market size is expected to reach USD 57.24 billion by 2028.
What exactly is a recreational boat?
Ans:- A recreational boat used for tourism and pleasure is known as a leisure boat.
What are the most promising aspects/opportunities of the leisure boat market?
Ans:- New commercial potential & number of boat clubs and memberships are projected to rise are the most promising aspects/opportunities of the leisure boat market.
During the period covered by the forecast, which region is anticipated to be the primary driver of the market?
Ans:- North American region is anticipated to be the primary driver of the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Leisure Boat Market Segmentation, by Type
8.1 New Leisure Boat
8.2 Used Leisure Boat
8.3 Monitoring Equipment
9. Global Leisure Boat Market Segmentation, by Product
9.1 Bowrider
9.2 Cruiser
9.3 Yacht
9.4 Pontoon
9.5 Catamaran
9.6 Sailboat
9.7 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 the USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 the UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Bavaria Yachtbau GmbH,
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Avon Marine
11.3 Azimut Benetti S.p.A.
11.4 Baja Marine
11.5 Bavaria Yachtbau GmbH
11.6 Bombardier Recreational Products (BRP) Inc.
11.7 Brunswick Corporation
11.8 Chaparral Boats, Inc.
11.9 Farr Yacht Design
11.10 Ferretti S.P.A.
11.11 Fountain Powerboats Inc.
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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