The global leisure boat market size reached US$ 41.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.4 Billion by 2027, exhibiting a growth rate (CAGR) of 4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A leisure boat is a recreational marine vessel primarily used for pleasure and tourism. Some of the commonly available motorized and non-motorized leisure boats include sailboats, runabouts, towboats, cabin cruisers, jet boats and watercraft. They are often used for activities, such as boating, sailing, campaigning and fishing. The boat consists of luxurious and spacious cabins manufactured using premium-quality wood, plastic, aluminum and coated fabrics, accommodation amenities and advanced propulsion systems. The contemporary leisure boat variants are also equipped with advanced engines, controls and Internet of Things (IoT)-enabled connected devices and equipment to provide enhanced comfort and convenience to the consumer.
Significant growth in the marine and coastal tourism industry, along with increasing consumer spending on recreational activities, is one of the key factors creating a positive outlook for the market. The emerging trend of owning vacation homes and accommodations near water bodies has enhanced the consumer’s interest in recreational boating activities. Leisure boats are also equipped with digital dashboards, joystick controls and digital throttles to track, monitor and control the boats effectively. Additionally, various product innovations, such as the development of leisure boats integrated with advanced smart sensors, artificial intelligence (AI), IoT and machine learning (ML) systems, are acting as other growth-inducing factors. Boat manufacturers are also using hybrid propulsion systems, global positioning systems (GPS), automatic control and smart connect devices in leisure boats to improve boat safety and security. Other factors, including rising expenditure capacities of the consumers, along with the utilization of more durable boating building materials in personalized leisure boats, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global leisure boat market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type.
Breakup by Type:
New Leisure Boat
Used Leisure Boat
Boat and Yacht Monitoring Solutions
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Azimut Benetti S.p.A, Baja Marine, Bavaria Yachtbau GmbH, BRP Inc., Brunswick Corporation, Chaparral Boats Inc. (Marine Products Corporation), Farr Yacht Design Ltd., Ferretti S.P.A. (Shandong Heavy Industry Group Co. Ltd.), Fountain Powerboats Inc. (Baja Marine Inc.), Mastercraft Boat Holdings Inc. and Yamaha Motor Co. Ltd.
Key questions answered in this report:
How has the global leisure boat market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global leisure boat market?
What are the key regional markets?
What is the breakup of the market based on the type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global leisure boat market and who are the key players?
What is the degree of competition in the industry?