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Leisure Boat Market Report Scope & Overview:

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.

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.

Leisure Boat Market Revenue Analysis

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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.

Market Dynamics

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

Impact of Recession

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.

Market Segmentation

By Type

  • New Leisure Boat

  • Used Leisured Boat

By Product

  • Motorized

    • Yacht

    • Personal Watercraft

    • Outboard Boats

    • Others

  • Non-Motorized

    • Canoes

    • Kayaks

    • Others

 

Regional Analysis:

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.

Leisure-Boat-Market-By-Region

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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 PowerboatsBombardier Recreational Products (BRP) Inc., Farr Yacht Design Ltd, Brunswick Corporation and others.

Avion Marine-Company Financial Analysis

Company Landscape Analysis

Leisure Boat Market

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),
By Product [Motorized (Yacht, Personal Watercraft, Outboard Boats, Others), Non-Motorized (Canoes, Kayaks, Others)]

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 PowerboatsBombardier 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. 

 

Frequently Asked Questions

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. Impact Analysis

5.1 Impact Of Russia Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. Leisure Boat Market Segmentation, By Type

9.1 Introduction

9.2 Trend Analysis

9.3 New Leisure Boat

9.4 Used Leisured Boat

10. Leisure Boat Market Segmentation, By Product

10.1 Introduction

10.2 Trend Analysis

10.3 Motorized

10.3.1 Yacht

10.3.2 Personal Watercraft

10.3.3 Outboard Boats

10.3.4 Others

10.4 Non-Motorized

10.4.1 Canoes

10.4.2 Kayaks

10.4.3 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 Trend Analysis

11.2.2 North America Leisure Boat Market by Country

11.2.3 North America Leisure Boat Market By Type

11.2.4 North America Leisure Boat Market By Product

11.2.5 USA

11.2.5.1 USA Leisure Boat Market By Type

11.2.5.2 USA Leisure Boat Market By Product

11.2.6 Canada

11.2.6.1 Canada Leisure Boat Market By Type

11.2.6.2 Canada Leisure Boat Market By Product

11.2.7 Mexico

11.2.7.1 Mexico Leisure Boat Market By Type

11.2.7.2 Mexico Leisure Boat Market By Product

11.3 Europe

11.3.1 Trend Analysis

11.3.2 Eastern Europe

11.3.2.1 Eastern Europe Leisure Boat Market by Country

11.3.2.2 Eastern Europe Leisure Boat Market By Type

11.3.2.3 Eastern Europe Leisure Boat Market By Product

11.3.2.4 Poland

11.3.2.4.1 Poland Leisure Boat Market By Type

11.3.2.4.2 Poland Leisure Boat Market By Product

11.3.2.5 Romania

11.3.2.5.1 Romania Leisure Boat Market By Type

11.3.2.5.2 Romania Leisure Boat Market By Product

11.3.2.6 Hungary

11.3.2.6.1 Hungary Leisure Boat Market By Type

11.3.2.6.2 Hungary Leisure Boat Market By Product

11.3.2.7 Turkey

11.3.2.7.1 Turkey Leisure Boat Market By Type

11.3.2.7.2 Turkey Leisure Boat Market By Product

11.3.2.8 Rest of Eastern Europe

11.3.2.8.1 Rest of Eastern Europe Leisure Boat Market By Type

11.3.2.8.2 Rest of Eastern Europe Leisure Boat Market By Product

11.3.3 Western Europe

11.3.3.1 Western Europe Leisure Boat Market by Country

11.3.3.2 Western Europe Leisure Boat Market By Type

11.3.3.3 Western Europe Leisure Boat Market By Product

11.3.3.4 Germany

11.3.3.4.1 Germany Leisure Boat Market By Type

11.3.3.4.2 Germany Leisure Boat Market By Product

11.3.3.5 France

11.3.3.5.1 France Leisure Boat Market By Type

11.3.3.5.2 France Leisure Boat Market By Product

11.3.3.6 UK

11.3.3.6.1 UK Leisure Boat Market By Type

11.3.3.6.2 UK Leisure Boat Market By Product

11.3.3.7 Italy

11.3.3.7.1 Italy Leisure Boat Market By Type

11.3.3.7.2 Italy Leisure Boat Market By Product

11.3.3.8 Spain

11.3.3.8.1 Spain Leisure Boat Market By Type

11.3.3.8.2 Spain Leisure Boat Market By Product

11.3.3.9 Netherlands

11.3.3.9.1 Netherlands Leisure Boat Market By Type

11.3.3.9.2 Netherlands Leisure Boat Market By Product

11.3.3.10 Switzerland

11.3.3.10.1 Switzerland Leisure Boat Market By Type

11.3.3.10.2 Switzerland Leisure Boat Market By Product

11.3.3.11 Austria

11.3.3.11.1 Austria Leisure Boat Market By Type

11.3.3.11.2 Austria Leisure Boat Market By Product

11.3.3.12 Rest of Western Europe

11.3.3.12.1 Rest of Western Europe Leisure Boat Market By Type

11.3.2.12.2 Rest of Western Europe Leisure Boat Market By Product

11.4 Asia-Pacific

11.4.1 Trend Analysis

11.4.2 Asia Pacific Leisure Boat Market by Country

11.4.3 Asia Pacific Leisure Boat Market By Type

11.4.4 Asia Pacific Leisure Boat Market By Product

11.4.5 China

11.4.5.1 China Leisure Boat Market By Type

11.4.5.2 China Leisure Boat Market By Product

11.4.6 India

11.4.6.1 India Leisure Boat Market By Type

11.4.6.2 India Leisure Boat Market By Product

11.4.7 Japan

11.4.7.1 Japan Leisure Boat Market By Type

11.4.7.2 Japan Leisure Boat Market By Product

11.4.8 South Korea

11.4.8.1 South Korea Leisure Boat Market By Type

11.4.8.2 South Korea Leisure Boat Market By Product

11.4.9 Vietnam

11.4.9.1 Vietnam Leisure Boat Market By Type

11.4.9.2 Vietnam Leisure Boat Market By Product

11.4.10 Singapore

11.4.10.1 Singapore Leisure Boat Market By Type

11.4.10.2 Singapore Leisure Boat Market By Product

11.4.11 Australia

11.4.11.1 Australia Leisure Boat Market By Type

11.4.11.2 Australia Leisure Boat Market By Product

11.4.12 Rest of Asia-Pacific

11.4.12.1 Rest of Asia-Pacific Leisure Boat Market By Type

11.4.12.2 Rest of Asia-Pacific Leisure Boat Market By Product

11.5 Middle East & Africa

11.5.1 Trend Analysis

11.5.2 Middle East

11.5.2.1 Middle East Leisure Boat Market by Country

11.5.2.2 Middle East Leisure Boat Market By Type

11.5.2.3 Middle East Leisure Boat Market By Product

11.5.2.4 UAE

11.5.2.4.1 UAE Leisure Boat Market By Type

11.5.2.4.2 UAE Leisure Boat Market By Product

11.5.2.5 Egypt

11.5.2.5.1 Egypt Leisure Boat Market By Type

11.5.2.5.2 Egypt Leisure Boat Market By Product

11.5.2.6 Saudi Arabia

11.5.2.6.1 Saudi Arabia Leisure Boat Market By Type

11.5.2.6.2 Saudi Arabia Leisure Boat Market By Product

11.5.2.7 Qatar

11.5.2.7.1 Qatar Leisure Boat Market By Type

11.5.2.7.2 Qatar Leisure Boat Market By Product

11.5.2.8 Rest of Middle East

11.5.2.8.1 Rest of Middle East Leisure Boat Market By Type

11.5.2.8.2 Rest of Middle East Leisure Boat Market By Product

11.5.3 Africa

11.5.3.1 Africa Leisure Boat Market by Country

11.5.3.2 Africa Leisure Boat Market By Type

11.5.3.3 Africa Leisure Boat Market By Product

11.5.2.4 Nigeria

11.5.2.4.1 South Africa Leisure Boat Market By Type

11.5.2.4.2 South Africa Leisure Boat Market By Product

11.5.2.5 South Africa

11.5.2.5.1 South Africa Leisure Boat Market By Type

11.5.2.5.2 South Africa Leisure Boat Market By Product

11.5.2.6 Rest of Africa

11.5.2.6.1 Rest of Africa Leisure Boat Market By Type

11.5.2.6.2 Rest of Africa Leisure Boat Market By Product

11.6 Latin America

11.6.1 Trend Analysis

11.6.2 Latin America Leisure Boat Market by Country

11.6.3 Latin America Leisure Boat Market By Type

11.6.4 Latin America Leisure Boat Market By Product

11.6.5 Brazil

11.6.5.1 Brazil Leisure Boat Market By Type

11.6.5.2 Brazil Leisure Boat Market By Product

11.6.6 Argentina

11.6.6.1 Argentina Leisure Boat Market By Type

11.6.6.2 Argentina Leisure Boat Market By Product

11.6.7 Colombia

11.6.7.1 Colombia Leisure Boat Market By Type

11.6.7.2 Colombia Leisure Boat Market By Product

11.6.8 Rest of Latin America

11.6.8.1 Rest of Latin America Leisure Boat Market By Type

11.6.8.2 Rest of Latin America Leisure Boat Market By Product

12. Company Profiles

12.1  Avion Marine

12.1.1 Company Overview

12.1.2 Financial

12.1.3 Products/ Services Offered

12.1.4 SWOT Analysis

12.1.5 The SNS View

12.2 Azimut Benetti Group

12.2.1 Company Overview

12.2.2 Financial

12.2.3 Products/ Services Offered

12.2.4 SWOT Analysis

12.2.5 The SNS View

12.3 Baja Marine

12.3.1 Company Overview

12.3.2 Financial

12.3.3 Products/ Services Offered

12.3.4 SWOT Analysis

12.3.5 The SNS View

12.4 Bavaria Yachtbau GmbH

12.4.1 Company Overview

12.4.2 Financial

12.4.3 Products/ Services Offered

12.4.4 SWOT Analysis

12.4.5 The SNS View

12.5 Chaparral Boats

12.5.1 Company Overview

12.5.2 Financial

12.5.3 Products/ Services Offered

12.5.4 SWOT Analysis

12.5.5 The SNS View

12.6 Ferretti

12.6.1 Company Overview

12.6.2 Financial

12.6.3 Products/ Services Offered

12.6.4 SWOT Analysis

12.6.5 The SNS View

12.7 Fountain Powerboats

12.7.1 Company Overview

12.7.2 Financial

12.7.3 Products/ Services Offered

12.7.4 SWOT Analysis

12.7.5 The SNS View

12.8 Bombardier Recreational Products (BRP) Inc.

12.8.1 Company Overview

12.8.2 Financial

12.8.3 Products/ Services Offered

12.8.4 SWOT Analysis

12.8.5 The SNS View

12.9 Farr Yacht Design Ltd

12.9.1 Company Overview

12.9.2 Financial

12.9.3 Products/ Services Offered

12.9.4 SWOT Analysis

12.9.5 The SNS View

12.10 Brunswick Corporation

12.10.1 Company Overview

12.10.2 Financial

12.10.3 Products/ Services Offered

12.10.4 SWOT Analysis

12.10.5 The SNS View

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

13.3.1 Industry News

13.3.2 Company News

13.3.3 Mergers & Acquisitions

14. USE Cases And Best Practices

15. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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