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The Business Research Company's Leisure Boat Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
It will grow to $56.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.” - The Business Research Company
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The leisure boat market size has grown strongly in recent years. It will grow from $43.09 billion in 2023 to $45.37 billion in 2024 at a CAGR of 5.3%. The growth in the historic period can be attributed to marina and infrastructure development, consumer preferences for water-based activities, boating events and promotions, and tourism trends.
Global Leisure Boat Market Size Forecast and Annual Growth Rate Predictions
The market size is projected to reach $56.56 billion in 2028 at a CAGR of 5.7%. Growth is driven by emerging market expansion, consumer preferences for water activities, and the expansion of boating infrastructure. Key trends include boat connectivity, sustainable designs, and an increase in electric and hybrid boats.
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What Are The Major Factors Driving The Growth Of The Leisure Boat Market?
Growing tourism is set to boost the market. The rapid increase in tourism, fueled by higher disposable incomes and a desire to explore, supports the demand for leisure boats, which provide luxurious experiences for travelers. According to the UNWTO, global tourism rose from 400 million in 2020 to 415 million in 2021, showing a 4% increase, thereby driving demand for leisure boats.
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Which Major Market Players Are Propelling the Leisure Boat Market?
Major companies operating in the market report are Yamaha Motor Co Ltd., Brunswick Corporation, Winnebago Industries Inc., Groupe Beneteau, Ferretti S.p.A., Viking Yacht Company, MasterCraft Boat Company, Malibu Boats LLC, Princess Yachts International plc, Marine Products Corporation, Sunseeker International Limited, Boston Whaler Inc., Westport Yachts, Hatteras Yachts, Regal Boats, Cobalt Boats LLC, Grady-White Boats Inc., Ranger Boats Inc., Duffy Electric Boats, Monterey Boats, Canadian Electric Boat Company, Chaparral Boats Inc., CRN SpA, Jeanneau, Nautor's Swan OYJ, Andaman Boatyard, Azimut Benetti Group, Baja Marine Inc., Bavaria Yachtbau GmbH, Boote Marian GmbH
What Trends Are Shaping the Future of the Leisure Boat Market Size?
The market is also seeing innovation, particularly with hydrofoiling technology. In August 2021, Candela launched the C-8, an electric hydrofoil boat designed for high-volume production, featuring advanced navigation technology and significantly reduced operating costs compared to traditional combustion engine boats.
What Is the Segmentation of the Global Leisure Boat Market?
The leisure boat market covered in this report is segmented –
1) By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Types
2) By Power Source: Engine Powered, Sail Powered, Human Powered
3) By Material Type: Aluminum, Fiberglass, Steel, Other Materials
4) By Application: Fishing, Transportation, Sports, Travel and Tourism, Other Applications
Regional Insights: North America's Dominance in the Leisure Boat Market
North America was the largest region in the market in 2023. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Defining the Leisure Boat Market
Leisure boats are large vessels designed for recreational use, often equipped with luxurious amenities. They provide transportation for leisure activities on water bodies like lakes and seas.
The Leisure Boat Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Leisure Boat Market Report: Trends, Opportunities, Strategies, and More
The Leisure Boat Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into leisure boat market size, leisure boat market drivers and trends, leisure boat market major players, leisure boat competitors' revenues, leisure boat market positioning, and leisure boat market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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