The Leisure Boat Market size was recorded at USD 41.05 Bn in 2022 and is expected to reach USD 62.48 Bn by 2030, and grow at a GAGR of 5.1% over the forecast period of 2023-2030.
The demand for leisure boats is also being driven by a few particular trends. For instance, as more and more people search for upscale recreational opportunities, the market for luxury leisure boats is growing. Due to their lower operating costs and greater environmental friendliness compared to traditional leisure boats, electric boats are also growing in popularity. Manufacturers and consumers are also adopting smart leisure boat technologies at an increasing rate. The performance, convenience, and safety of recreational boats can all be enhanced by these technologies. The overall demand for recreational boats is rising as a result of several factors, such as rising disposable income, an increase in outdoor recreation demand, the popularity of water sports, government support for the recreational boat industry, and the expansion of the selection of luxurious.
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The kinds of boats that are in demand are influenced by current recreational trends, such as interest in fishing, water sports, or cruising. Laws governing emissions, waterway access, and boat safety can have an impact on the features and design of recreational boats. Fuel-efficient and electric boat innovations are a result of environmental regulations and consumer demand for eco-friendly options. Features like GPS navigation, sophisticated sonar, and digital control systems are examples of how advances in boat design, materials, and onboard technology have influenced the market's evolution. The age and way of life of prospective boat purchasers influence market patterns. While older consumers might favor larger, more comfortable boats, younger consumers might look for smaller, sportier boats.
The leisure boat industry is characterized by intense competition and is influenced by a confluence of economic, regulatory, and consumer factors. Boat manufacturers, dealerships, marinas, and rental services are some of the industry participants. It's a dynamic market that adapts to shifting consumer preferences and advances in technology. It is also closely related to water-based recreation, coastal development, and tourism.
Driver:
The rise in overall spending on leisure boats
Leisure boating is one of the most popular outdoor recreational activities that people are looking for more and more of. It enables people to engage in a range of activities, including swimming, fishing, and water sports, as well as to take in the natural beauty of their surroundings. Recreational boats are necessary for engaging in the growing popularity of water sports like wakeboarding, surfing, and water skiing. One of the primary factors driving the demand for leisure boats is the rising popularity of water sports.
Restrain:
The high cost and the high maintenance charges
Opportunity
Technological advancement in the leisure market
Boaters can navigate open waters more easily thanks to GPS navigation systems' precise positioning and route planning capabilities. Real-time fish location and depth information is provided by integrated fish finders and chart plotters. Social media, mobile apps, and onboard Wi-Fi systems facilitate communication among boaters and allow access to weather forecasts. Boat systems including lighting, entertainment, and climate control can be controlled with digital control panels and touchscreen interfaces. For improved maneuverability, use bow/stern thrusters and joystick controls.
Challenges
Lack of awareness in the struggling economies
Consumers typically spend less on luxuries like recreational boats during recessions. The market for recreational boats may decline as a result of this. Boat dealers and manufacturers may see a reduction in sales and profits as a result of the decline in the market for recreational boats. During a recession, banks and other lenders are more likely to tighten their requirements. People may find it more challenging to get financing for the purchase of a recreational boat as a result. The industry may experience layoffs as a result of a drop in sales and profits. If certain boat dealers and manufacturers are unable to withstand the storm, they may be obliged to file for bankruptcy.
Impact of Russia Ukraine War
The conflict may cause delays in the manufacturing process and possibly impact the availability of recreational boats if it interferes with supply chains or impacts the production of boat parts or materials in the area. Economic uncertainty resulting from geopolitical conflicts may cause a decline in consumer confidence and discretionary spending. Leisure boat sales may be impacted by consumer hesitation or delay. Sanctions and trade restrictions placed on Russia or Ukraine may have an effect on international trade, which may have an impact on the import and export of recreational boats and associated equipment. Variations in exchange rates can affect international sales and exports by affecting the price of recreational boats in various locations.
By Type
New Leisure Boat
Used Leisured Boat
By Product
Motorized
Non-Motorized
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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
The major key players are Avion Marine, Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Chaparral Boats, Ferretti, Fountain Powerboats and others.
The leisure boat industry in North America is well-established, with major contributions from both the United States and Canada. Boat ownership is becoming more and more common, with an emphasis on different kinds of boats, such as larger luxury yachts, fishing boats, pontoon boats, and personal watercraft. A robust recreational boating culture, particularly in lake and coastal areas. The following are the main elements propelling the leisure boat market's expansion in North America, Due to their high level of income, people in North America can afford to spend money on recreational pursuits like boating. Leisure boating is one of the most well-liked outdoor activities in North America as people search for more opportunities to spend time outside. Wakeboarding, surfing, and water skiing are among the sports that are becoming more and more popular in North America. To engage in these activities, one needs a leisure boat. Government support for the recreational boat industry: Tax breaks and other forms of incentives are used by governments in North America to support the recreational boat industry.
APAC will be the region with the highest CAGR growth rate due to growing incomes, urbanization, and a growing interest in water-based activities, the leisure boat market is expanding in the Asia-Pacific region. China and Southeast Asian nations are becoming important destinations for recreational boating, encompassing both luxury yachts and personal watercraft.
| Report Attributes | Details |
| Market Size in 2022 | US$ 41.05 Bn |
| Market Size by 2030 | US$ 62.48 Bn |
| CAGR | CAGR of 5.1 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (New Leisure Boat, Used Leisured Boat), • By Product (Motorized, Non-Motorized) |
| 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 |
| 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 41.05 Bn in 2022 and is expected to reach USD 62.48 Bn by 2030
Ans: GAGR of 5.1% over the forecast period of 2023-2030.
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 CONTENT
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 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Leisure Boat Segmentation, by Type
8.1 Used Leisured Boat
8.2 New Leisure Boat
9. Leisure Boat Segmentation, by Product
9.1 Motorized
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Leisure Boat by Country
10.2.2North America Leisure Boat by Type
10.2.3 North America Leisure Boat by Product
10.2.4 USA
10.2.4.1 USA Leisure Boat by Type
10.2.4.2 USA Leisure Boat by Product
10.2.5 Canada
10.2.5.1 Canada Leisure Boat by Type
10.2.5.2 Canada Leisure Boat by Product
10.2.6 Mexico
10.2.6.1 Mexico Leisure Boat by Raw Technology
10.2.6.2 Mexico Leisure Boat by Product
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Leisure Boat by Country
10.3.1.2 Eastern Europe Leisure Boat by Type
10.3.1.3 Eastern Europe Leisure Boat by Product
10.3.1.4 Poland
10.3.1.4.1 Poland Leisure Boat by Type
10.3.1.4.2 Poland Leisure Boat by Product
10.3.1.5 Romania
10.3.1.5.1 Romania Leisure Boat by Type
10.3.1.5.2 Romania Leisure Boat by Product
10.3.1.6 Hungary
10.3.1.6.1 Hungary Leisure Boat by Type
10.3.1.6.2 Hungary Leisure Boat by Product
10.3.1.7 Turkey
10.3.1.7.1 Turkey Leisure Boat by Type
10.3.1.7.2 Turkey Leisure Boat by Product
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Leisure Boat by Type
10.3.1.8.2 Rest of Eastern Europe Leisure Boat by Product
10.3.2 Western Europe
10.3.2.1 Western Europe Leisure Boat by Country
10.3.2.2 Western Europe Leisure Boat by Type
10.3.2.3 Western Europe Leisure Boat by Product
10.3.2.4 Germany
10.3.2.4.1 Germany Leisure Boat by Type
10.3.2.4.2 Germany Leisure Boat by Product
10.3.2.5 France
10.3.2.5.1 France Leisure Boat by Type
10.3.2.5.2 France Leisure Boat by Product
10.3.2.6 UK
10.3.2.6.1 UK Leisure Boat by Type
10.3.2.6.2 UK Leisure Boat by Product
10.3.2.7 Italy
10.3.2.7.1 Italy Leisure Boat by Type
10.3.2.7.2 Italy Leisure Boat by Product
10.3.2.8 Spain
10.3.2.8.1 Spain Leisure Boat by Type
10.3.2.8.2 Spain Leisure Boat by Product
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Leisure Boat by Type
10.3.2.9.2 Netherlands Leisure Boat by Product
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Leisure Boat by Type
10.3.2.10.2 Switzerland Leisure Boat by Product
10.3.2.11 Austria
10.3.2.11.1 Austria Leisure Boat by Type
10.3.2.11.2 Austria Leisure Boat by Product
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Leisure Boat by Type
10.3.2.12.2 Rest of Western Europe Leisure Boat by Product
10.4 Asia-Pacific
10.4.1 Asia Pacific Leisure Boat by Country
10.4.2 Asia Pacific Leisure Boat by Type
10.4.3 Asia Pacific Leisure Boat by Product
10.4.4 China
10.4.4.1 China Leisure Boat by Type
10.4.4.2 China Leisure Boat by Product
10.4.5 India
10.4.5.1 India Leisure Boat by Type
10.4.5.2 India Leisure Boat by Product
10.4.6 Japan
10.4.6.1 Japan Leisure Boat by Type
10.4.6.2 Japan Leisure Boat by Product
10.4.7 South Korea
10.4.7.1 South Korea Leisure Boat by Type
10.4.7.2 South Korea Leisure Boat by Product
10.4.8 Vietnam
10.4.8.1 Vietnam Leisure Boat by Type
10.4.8.2 Vietnam Leisure Boat by Product
10.4.9 Singapore
10.4.9.1 Singapore Leisure Boat by Type
10.4.9.2 Singapore Leisure Boat by Product
10.4.10 Australia
10.4.10.1 Australia Leisure Boat by Type
10.4.10.2 Australia Leisure Boat by Product
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Leisure Boat by Type
10.4.11.2 Rest of Asia-Pacific APAC Leisure Boat by Product
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Leisure Boat by Country
10.5.1.2 Middle East Leisure Boat by Type
10.5.1.3 Middle East Leisure Boat by Product
10.5.1.4 UAE
10.5.1.4.1 UAE Leisure Boat by Type
10.5.1.4.2 UAE Leisure Boat by Product
10.5.1.5 Egypt
10.5.1.5.1 Egypt Leisure Boat by Type
10.5.1.5.2 Egypt Leisure Boat by Product
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Leisure Boat by Type
10.5.1.6.2 Saudi Arabia Leisure Boat by Product
10.5.1.7 Qatar
10.5.1.7.1 Qatar Leisure Boat by Type
10.5.1.7.2 Qatar Leisure Boat by Product
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Leisure Boat by Type
10.5.1.8.2 Rest of Middle East Leisure Boat by Product
10.5.2 Africa
10.5.2.1 Africa Leisure Boat by Country
10.5.2.2 Africa Leisure Boat by Type
10.5.2.3 Africa Leisure Boat by Product
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Leisure Boat by Type
10.5.2.4.2 Nigeria Leisure Boat by Product
10.5.2.5 South Africa
10.5.2.5.1 South Africa Leisure Boat by Type
10.5.2.5.2 South Africa Leisure Boat by Product
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Leisure Boat by Type
10.5.2.6.2 Rest of Africa Leisure Boat by Product
10.6 Latin America
10.6.1 Latin America Leisure Boat by Country
10.6.2 Latin America Leisure Boat by Type
10.6.3 Latin America Leisure Boat by Product
10.6.4 Brazil
10.6.4.1 Brazil Leisure Boat by Type
10.6.4.2 Brazil Africa Leisure Boat by Product
10.6.5 Argentina
10.6.5.1 Argentina Leisure Boat by Type
10.6.5.2 Argentina Leisure Boat by Product
10.6.6 Colombia
10.6.6.1 Colombia Leisure Boat by Type
10.6.6.2 Colombia Leisure Boat by Product
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Leisure Boat by Type
10.6.7.2 Rest of Latin America Leisure Boat by Product
11 Company Profile
11.1 Avion Marine
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Azimut Benetti Group
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Baja Marine
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Bavaria Yachtbau GmbH
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Chaparral Boats
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Ferretti
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Fountain Powerboats
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Others
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
12. Competitive Landscape
12.1 Competitive Bench marking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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