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The Leisure Boat Market size was recorded at USD 44.3 Bn in 2023 and is expected to reach USD 65.95 Bn by 2031 and grow at a CAGR of 5.1% over the forecast period of 2024-2031.
Increasing disposable income among citizens and increasing tourism industries in developing economies like Brazil, and China are a few of the vital factors projecting market growth. In addition, the increasing engagement of the population in recreational and competitive boating activities globally is projected to propel the growth. The evolution of technologies resulting in the launch and penetration of smart boats is expected to burgeon market growth during the forecast period.
Customers increasingly gaining awareness about the advantages of traditional boats having advanced technologies onboard, rising demand for recreational intelligent watercraft, and entry to newer markets remain key growth determinants. Manufacturers have also been adopting high techs like IoT, AI, and smart sensors in the boats to offer users some benefits such as GPS tracking, automatic controls & Smart connect. In addition, integration of these types of technology further helps owners to enhance boat safety and security which indirectly makes them more keen on surfing deep waters.
With numerous boating events & trade shows being organized across the globe, there has been a growing demand for recreational boating activities from tourists. Spending time in the water or on beaches has encouraged a substantial uptick in European and North American tourists (source). Furthermore, the market in China and Australia has opened doors to newer growth avenues due to the growing per capita income of the population residing in these countries. The increasing popularity of recreational boating in Japan, China, and Australia has significantly contributed to the growth of the market. These activities of the various country governments to enhance their marine tourism have propelled the growth of this market. Changes in regulations, the rise of infrastructure, and increased funds to the tourism sector are likely to fuel future chances for growth in the travel market during these years. Furthermore, recreational boating activities spend heavily on outboard boats and yachts among all the boat types across the globe, and that trend boosts the leisure boat market.
Market Dynamics
Driver:
Growing disposable income and rising trend for water sports, boating, and water-based vacations.
With more and more people having access to disposable incomes worldwide, traveling and activities around travel & tourism are moving up their priority list. There is a growing need for alternatives in terms of places to stay and ways to get around - that, at least, bodes well for the leisure boat sector. But, spending habits are altering factors that prompt people to indulge in different types of outdoor fun. Recreational boating is a growing hobby, one among them. This trend generates revenue for clothing stores, chandlers, boat builders, and boat caterers as well as jobs.
Restrain:
The high cost and the high maintenance charges related to leisure boats and fluctuation in demand due to seasonality.
Challenges
Lack of awareness in the struggling economies
Market Segmentation
By Type
New Leisure Boat
Used Leisured Boat
The used leisure Boat segment leads the market and is attributed to gaining over 80% of the market share. This is because the used boat can be delivered fairly soon thus eliminating a longer delivery timeline. A used recreational vessel that has been owned before may have cosmetic blemishes, needs minor repairs, or require upgraded equipment. They are usually cheaper than the newer ones. One of the reasons why most users switch to a used boat is because these boats are intact and stay functional so they also re-sell easily. Also contributing to the high market share of pre-owned vessels is that used boats, generally speaking, are priced less than new boats.
By Product
Motorized
Yacht
Personal Watercraft
Outboard Boats
Others
Non-Motorized
Canoes
Kayaks
Others
The motorized new leisure boats are leading the leisure boat market in this segment. All these are pushing the demand for new leisure boats and hence triggering the growth of the new boat market further, with the rising incorporation of advanced technologies such as smart sensors, AI (Artificial Intelligence), and IoT (Internet-of-Things)combined with the availability convenient financing schemes initiated brings in through manufacturers.
Regional Analysis:
The leisure boat sector in North America is on the rise, due to significant contributions from the USA and Canada. Boat ownership is increasing, and incorporates all sorts of boats from luxury yachts, fishing boats, pontoon boats, and personal water transport. North America witnesses the rapid growth of leisure boats. Several factors support the development of the leisure boat market in North America. Firstly, North American high-income levels make it possible for them to indulge in boating as a pastime. Simultaneously, there is a strong preference for outdoor activities that is swelling the popularity of leisure boats. Again, all these pointed to the need for a big leap forward in efficiency and streamlining of technology. Further boosting the demand in North America for leisure boats are exciting water sports like wakeboarding, surfing, and water skiing.
Europe follows the market globally and is anticipated to experience maximum growth in terms of CAGR over the forecast period. Growing pleasure boat application in the UK, France, Germany, Italy, and Spain is projected to fuel regional industry growth. In addition, a rising number of participants in recreational boating activities also bodes well for the incremental opportunity on offer to the market.
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Regional Coverage
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Key Players
The major key players are Avion Marine, Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Chaparral Boats, Ferretti, Fountain Powerboats, Bombardier Recreational Products (BRP) Inc., Farr Yacht Design Ltd, Brunswick Corporation and others.
| Report Attributes | Details |
| Market Size in 2023 | US$ 44.3 Bn |
| Market Size by 2031 | US$ 65.95 Bn |
| CAGR | CAGR of 5.1 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• By Type (New Leisure Boat, Used Leisured Boat), |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Avion Marine, Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Chaparral Boats, Ferretti, Fountain Powerboats, Bombardier Recreational Products (BRP) Inc., Farr Yacht Design Ltd, Brunswick Corporation |
| Key Drivers | • The rise in overall spending on leisure boats. |
| Market Restraints | • Lack of awareness in the struggling economies. |
Ans; The Leisure Boat Market size was recorded at USD 44.3 Bn in 2023 and is expected to reach USD 65.95 Bn by 2031.
Ans: GAGR of 5.1% over the forecast period of 2024-2031.
Ans: Lack of awareness in the struggling economies.
Ans: The rise in overall spending on leisure boats.
Ans; The leisure boat industry in North America is well-established, with major contributions from both the United States and Canada.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Leisure Boat Market Segmentation, By Type
7.1 Introduction
7.2 New Leisure Boat
7.3 Used Leisured Boat
8. Leisure Boat Market Segmentation, By Product Type
8.1 Introduction
8.2 Motorized
8.2.1 Yacht
8.2.2 Personal Watercraft
8.2.3 Outboard Boats
8.2.4Others
8.3 Non-Motorized
8.3.1 Canoes
8.3.2 Kayaks
8.3.3 Others
9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.1 Trend Analysis
9.2.2 North America Leisure Boat Market by Country
9.2.3 North America Leisure Boat Market By Type
9.2.4 North America Leisure Boat Market By Product Type
9.2.5 USA
9.2.5.1 USA Leisure Boat Market By Type
9.2.5.2 USA Leisure Boat Market By Product Type
9.2.6 Canada
9.2.6.1 Canada Leisure Boat Market By Type
9.2.6.2 Canada Leisure Boat Market By Product Type
9.2.7 Mexico
9.2.7.1 Mexico Leisure Boat Market By Type
9.2.7.2 Mexico Leisure Boat Market By Product Type
9.3 Europe
9.3.1 Trend Analysis
9.3.2 Eastern Europe
9.3.2.1 Eastern Europe Leisure Boat Market by Country
9.3.2.2 Eastern Europe Leisure Boat Market By Type
9.3.2.3 Eastern Europe Leisure Boat Market By Product Type
9.3.2.4 Poland
9.3.2.4.1 Poland Leisure Boat Market By Type
9.3.2.4.2 Poland Leisure Boat Market By Product Type
9.3.2.5 Romania
9.3.2.5.1 Romania Leisure Boat Market By Type
9.3.2.5.2 Romania Leisure Boat Market By Product Type
9.3.2.6 Hungary
9.3.2.6.1 Hungary Leisure Boat Market By Type
9.3.2.6.2 Hungary Leisure Boat Market By Product Type
9.3.2.7 Turkey
9.3.2.7.1 Turkey Leisure Boat Market By Type
9.3.2.7.2 Turkey Leisure Boat Market By Product Type
9.3.2.8 Rest of Eastern Europe
9.3.2.8.1 Rest of Eastern Europe Leisure Boat Market By Type
9.3.2.8.2 Rest of Eastern Europe Leisure Boat Market By Product Type
9.3.3 Western Europe
9.3.3.1 Western Europe Leisure Boat Market by Country
9.3.3.2 Western Europe Leisure Boat Market By Type
9.3.3.3 Western Europe Leisure Boat Market By Product Type
9.3.3.4 Germany
9.3.3.4.1 Germany Leisure Boat Market By Type
9.3.3.4.2 Germany Leisure Boat Market By Product Type
9.3.3.5 France
9.3.3.5.1 France Leisure Boat Market By Type
9.3.3.5.2 France Leisure Boat Market By Product Type
9.3.3.6 UK
9.3.3.6.1 UK Leisure Boat Market By Type
9.3.3.6.2 UK Leisure Boat Market By Product Type
9.3.3.7 Italy
9.3.3.7.1 Italy Leisure Boat Market By Type
9.3.3.7.2 Italy Leisure Boat Market By Product Type
9.3.3.8 Spain
9.3.3.8.1 Spain Leisure Boat Market By Type
9.3.3.8.2 Spain Leisure Boat Market By Product Type
9.3.3.9 Netherlands
9.3.3.9.1 Netherlands Leisure Boat Market By Type
9.3.3.9.2 Netherlands Leisure Boat Market By Product Type
9.3.3.10 Switzerland
9.3.3.10.1 Switzerland Leisure Boat Market By Type
9.3.3.10.2 Switzerland Leisure Boat Market By Product Type
9.3.3.11 Austria
9.3.3.11.1 Austria Leisure Boat Market By Type
9.3.3.11.2 Austria Leisure Boat Market By Product Type
9.3.3.12 Rest of Western Europe
9.3.3.12.1 Rest of Western Europe Leisure Boat Market By Type
9.3.2.12.2 Rest of Western Europe Leisure Boat Market By Product Type
9.4 Asia-Pacific
9.4.1 Trend Analysis
9.4.2 Asia Pacific Leisure Boat Market by Country
9.4.3 Asia Pacific Leisure Boat Market By Type
9.4.4 Asia Pacific Leisure Boat Market By Product Type
9.4.5 China
9.4.5.1 China Leisure Boat Market By Type
9.4.5.2 China Leisure Boat Market By Product Type
9.4.6 India
9.4.6.1 India Leisure Boat Market By Type
9.4.6.2 India Leisure Boat Market By Product Type
9.4.7 Japan
9.4.7.1 Japan Leisure Boat Market By Type
9.4.7.2 Japan Leisure Boat Market By Product Type
9.4.8 South Korea
9.4.8.1 South Korea Leisure Boat Market By Type
9.4.8.2 South Korea Leisure Boat Market By Product Type
9.4.9 Vietnam
9.4.9.1 Vietnam Leisure Boat Market By Type
9.4.9.2 Vietnam Leisure Boat Market By Product Type
9.4.10 Singapore
9.4.10.1 Singapore Leisure Boat Market By Type
9.4.10.2 Singapore Leisure Boat Market By Product Type
9.4.11 Australia
9.4.11.1 Australia Leisure Boat Market By Type
9.4.11.2 Australia Leisure Boat Market By Product Type
9.4.12 Rest of Asia-Pacific
9.4.12.1 Rest of Asia-Pacific Leisure Boat Market By Type
9.4.12.2 Rest of Asia-Pacific Leisure Boat Market By Product Type
9.5 Middle East & Africa
9.5.1 Trend Analysis
9.5.2 Middle East
9.5.2.1 Middle East Leisure Boat Market by Country
9.5.2.2 Middle East Leisure Boat Market By Type
9.5.2.3 Middle East Leisure Boat Market By Product Type
9.5.2.4 UAE
9.5.2.4.1 UAE Leisure Boat Market By Type
9.5.2.4.2 UAE Leisure Boat Market By Product Type
9.5.2.5 Egypt
9.5.2.5.1 Egypt Leisure Boat Market By Type
9.5.2.5.2 Egypt Leisure Boat Market By Product Type
9.5.2.6 Saudi Arabia
9.5.2.6.1 Saudi Arabia Leisure Boat Market By Type
9.5.2.6.2 Saudi Arabia Leisure Boat Market By Product Type
9.5.2.7 Qatar
9.5.2.7.1 Qatar Leisure Boat Market By Type
9.5.2.7.2 Qatar Leisure Boat Market By Product Type
9.5.2.8 Rest of Middle East
9.5.2.8.1 Rest of Middle East Leisure Boat Market By Type
9.5.2.8.2 Rest of Middle East Leisure Boat Market By Product Type
9.5.3 Africa
9.5.3.1 Africa Leisure Boat Market by Country
9.5.3.2 Africa Leisure Boat Market By Type
9.5.3.3 Africa Leisure Boat Market By Product Type
9.5.2.4 Nigeria
9.5.2.4.1 Nigeria Leisure Boat Market By Type
9.5.2.4.2 Nigeria Leisure Boat Market By Product Type
9.5.2.5 South Africa
9.5.2.5.1 South Africa Leisure Boat Market By Type
9.5.2.5.2 South Africa Leisure Boat Market By Product Type
9.5.2.6 Rest of Africa
9.5.2.6.1 Rest of Africa Leisure Boat Market By Type
9.5.2.6.2 Rest of Africa Leisure Boat Market By Product Type
9.6 Latin America
9.6.1 Trend Analysis
9.6.2 Latin America Leisure Boat Market by Country
9.6.3 Latin America Leisure Boat Market By Type
9.6.4 Latin America Leisure Boat Market By Product Type
9.6.5 Brazil
9.6.5.1 Brazil Leisure Boat Market By Type
9.6.5.2 Brazil Leisure Boat Market By Product Type
9.6.6 Argentina
9.6.6.1 Argentina Leisure Boat Market By Type
9.6.6.2 Argentina Leisure Boat Market By Product Type
9.6.7 Colombia
9.6.7.1 Colombia Leisure Boat Market By Type
9.6.7.2 Colombia Leisure Boat Market By Product Type
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Leisure Boat Market By Type
9.6.8.2 Rest of Latin America Leisure Boat Market By Product Type
10. Company Profiles
10.1 Avion Marine
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
10.1.4 The SNS View
10.2 Azimut Benetti Group
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 The SNS View
10.3 Baja Marine
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 The SNS View
10.4 Bavaria Yachtbau GmbH
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 The SNS View
10.5 Chaparral Boats
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 The SNS View
10.6 Ferretti
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 The SNS View
10.7 Fountain Powerboats
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 The SNS View
10.8 Bombardier Recreational Products (BRP) Inc.
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 The SNS View
10.9 Farr Yacht Design Ltd
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 The SNS View
10.10 Brunswick Corporation
10.10.1 Company Overview
10.10.2 Financial
10.10.3 Products/ Services Offered
10.10.4 The SNS View
11. Competitive Landscape
11.1 Competitive Benchmarking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions
12. USE Cases and Best Practices
13. ConclusionturkeyKoreanbrazil
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