Leisure Boat Market Size, Share & Trends Analysis Report By Type (New Leisure Boat, Used Leisure Boat, Monitoring Equipment), By Region (North America, Europe, Asia Pacific, South America, MEA), And Segment Forecasts, 2022 - 2030

Report Overview

The global leisure boat market size was valued at USD 42.57 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.73% from 2022 to 2030. The rising disposable income of citizens and flourishing tourism sector in emerging economies, such as Brazil and China, are some of the key factors escalating the market growth. Furthermore, the growing participation of people in recreational and competitive boating activities worldwide is estimated to provide an upthrust to market growth. Besides, advancements in technologies leading to the introduction and adoption of connected boats are projected to fuel market growth over the forecast period. The market consists of boat manufacturers, engine manufacturers, independent dealers, service providers, and equipment manufacturers.

市场预计将带来广阔的发展公关ospects throughout the forecast period owing to the combination of factors such as the multitude of investments made, and research undertaken by the prominent players in the industry to develop and upgrade their portfolios. Manufacturers are also focusing on developing modern boat layouts to attract the interest of customers, especially in the Gen-Z category. Additionally, the growing awareness among customers regarding the benefits offered by integrating technologies in conventional boats is expected to fuel market growth in the coming years. Manufacturers are increasingly integrating advanced technologies, such asIoT、人工智能和智能传感器,为提供船只ing users with features, such as GPS tracking, automatic controls, and smart connections. Moreover, the integration of such technologies aids owners to improve boat safety and security, thereby increasing their inclination toward surfing into deep waters.

Recreational boating activities are gaining popularity among tourists owing to the increasing number of boating events and trade shows hosted in different parts of the world. Growing marine and coastal tourism have significantly attracted tourists from numerous countries across Europe and North America. Additionally, Asia Pacific countries such as China and Australia are witnessing new growth opportunities in the market owing to the increasing per capita income of people in these countries. The rising demand for recreational boating in countries, including Japan, China, and Australia, is further propelling the regional market growth.

The measures taken by the governments of various countries for the development of marine tourism have boosted the growth of the market. Initiatives such as increasing investments in the tourism industry, developing infrastructure, and changing regulations are expected to have a positive impact on the tourism industry in the coming years. Outboard boats and yachts are widely used by boaters for personal boating activities across the world and the trend is expected to continue in the forecast period.

COVID-19 has taken a toll on the tourism sector worldwide with complete restrictions imposed on international travel. The entire supply chain was disrupted in the first two quarters of 2020 with several manufacturing plants closed and businesses experiencing a labor shortage. The COVID-19 also had an impact on the exports and imports leading to the shortage of equipment and sub-assemblies required for boat building. This consequently led to significant waiting times for new customers as manufacturers were focused on ensuring the product deliveries of pending orders. Along with the sales of boats, the revenue generated through services also took a hit as small third-party vendors had to shun their businesses due to the financial crisis arising out of lockdown restrictions. However, the gradual movement toward re-opening the economies, coupled with the prolonged restrictions on the movement of people, has resulted in developing an urge among the individuals to indulge themselves in recreational activities. Therefore, the market is anticipated to recover slowly in the forecast period.

Type Insights

The used leisure boat segment accounted for over 76.5% share of the global revenue in 2021. The large share of this segment is attributed to the fact that the used boat can be procured relatively quickly, thereby eliminating a higher delivery timeline. Used boats usually remain functional and ready for sale, which prompts the users to opt for a used boat. Another prominent factor for the large share of used boats is the lower prices of these boats as compared to new boats. The used boat segment is further divided into motorized and non-motorized boats. The non-motorized boat segment is expected to expand at the highest CAGR over the forecast period owing to factors such as the increasing use of kayaks and canoes in adventurous water sports as well as low prices of non-motorized boats. Additionally, the easy availability of these boats is resulting in an increased demand for non-motorized boats. Moreover, these boats are available in a variety of shapes and sizes, thereby increasing their adoption among people of various age and income groups.

The new leisure boat segment is anticipated to witness considerable growth in the forecast period. Factors including the increasing adoption of advanced technologies, such as smart sensors,Artificial Intelligence(AI), and the Internet of Things (IoT), and the availability of flexible financing options offered by boat manufacturers are fueling the growth of the new leisure boat market. The new leisure boat segment is also divided into motorized and non-motorized boats. The motorized boat segment is expected to capture the largest market share over the forecast period. The motorized segment is further divided into personal watercraft, outboard boats, yachts, and others. The non-motorized boat segment is categorized into kayaks, canoes, and others. The non-motorized segment is primarily driven by the increasing usage of outboard boats and yachts, which are mainly used in recreational activities. The growing popularity ofyachtsand the rise in the number of yachting events worldwide are driving the market.

监测设备部分anticipated to expand at a CAGR of 6.6% over the forecast period. The monitoring equipment segment is divided into boat and yacht monitoring solutions, IoT Sensors, telematics solutions, and others. The emergence of smart connected devices and IoT technology is expected to fuel the growth of the monitoring equipment segment over the forecast period. Intelligent devices and IoT technologies make boating activities user-friendly and enhance the overall boating experience by automating some of the manual tasks. Moreover, the use of wireless technology and smartphones allows the boat owner to track, monitor, and control the boats effectively. The use of smartphone apps with IoT facilitates the overall control of the boat through predictive maintenance, emergency alerts, and notifications. The increased connectivity further ensures the safety of boaters over long voyages.

Regional Insights

North America dominated the market in terms of revenue and accounted for more than 45.3% share of the global revenue in 2021. The resurgence in the economy post the economic recession, coupled with the availability of affordable credit in the regional market, is resulting in a higher number of boat sales in the region. Besides, the rising demand for recreational watercraft in the U.S. is driving the regional market. The U.S. is witnessing the increasing popularity of marine recreational activities, including boating and cruising. From the overall North American market, the U.S. alone held a share of 58.5% in 2021 owing to the rising boat sales in Florida, California, and New York.

The European market is expected to expand at the highest CAGR in the forecast period. Surging demand for recreational boats in various countries, including the U.K., France, Germany, Italy, and Spain, is estimated to propel the growth of the regional market. Increasing participation of people in recreational boating activities is also projected to bolster the growth of the regional market. Furthermore, rising recreational boating events and trade shows hosted by manufacturers are supplementing the growth of the market in Europe.

Asia Pacific is anticipated to witness significant growth in the forecast period owing to the major steps taken by the governments of several countries in the region for the development of tourism activities. The market in China is likely to exhibit the highest CAGR of 6.1% in the forecast period. The growth of the market in the country can be attributed to the abundance of water resources, such as the vast coastline, inland lakes, and rivers. Moreover, measures taken by the Government of China to promote yachting as a leisure activity are estimated to trigger the demand for recreational watercraft in the country.

Key Companies and Market Share Insights

在休闲游艇行业,“君子agreement” exists whereby firms respect one another’s market niches and follow a “live and let live” strategy. The industry in several countries, like the U.S., has formed an association that deals with issues, such as competition and unwanted behaviors, within the industry. This reduces competition and rivalry within the industry, making the companies operate in a friendly manner. They are focused to provide better and quality leisure to customers. In a bid to strengthen their position in the market, manufacturers adopt strategies, including new portfolio expansion and strategic partnerships and collaborations. For instance, in July 2020, Azimut Benetti Group announced the launch of a new yacht model under the Magellano collection. Moreover, in July 2020, Bavaria Yachtbau GmbH announced the launch of Bavaria Vida 33, the first-day cruiser with an outboard engine. Some prominent players in the global leisure boat market include:

• Avon Marine

• Azimut Benetti Group

• Baja Marine

• Bavaria Yachtbau GmbH

• Bombardier Recreational Products (BRP) Inc.

• Brunswick Corporation

• Chaparral Boats, Inc.

• Farr Yacht Design, Ltd.

• Ferretti S.P.A.

• Fountain Powerboats, Inc.

Leisure Boat Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 44.28 billion
Revenue forecast in 2030	USD 64.08 billion
Growth Rate	CAGR of 4.73% from 2022 to 2030
Base year for estimation	2020
Historical data	2017 - 2019
Forecast period	2021 - 2030
Quantitative units	Revenue in USD Billion and CAGR from 2022 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered	Type, region
Regional scope	North America, Europe, Asia Pacific, South America, Middle East & Africa (MEA)
Country scope	U.S.; Canada ; Mexico; UK, Germany; France; Italy; Sweden; Spain; China; India; Japan; Singapore; South Korea; Brazil
Key companies profiled	Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Chaparral Boats, Inc.; Farr Yacht Design; Ferretti S.P.A.; Fountain Powerboats Inc.
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global leisure boat market report based on type and region:

• Type Scope (Revenue, USD Billion; 2017 - 2030)

  • New Leisure Boat

    • Motorized/Power Boats

      • Personal watercraft

      • Outboard boats

      • Yachts

        • Yacht Type

          • Super Yachts

          • Flybridge Yachts

          • Sport Yachts

          • Long Range Yachts

          • Others

        • Yacht Length

          • Up to 20 ft.

          • 20-50 ft

          • Above 50 ft.

      • Other

    • Non-motorized boats

      • Kayaks

      • Canoes

      • Others

  • Used Leisure Boat

    • Motorized/Power Boats

      • Personal Watercraft

      • Outboard Boats

      • Yachts

        • Yacht Type

          • Super Yachts

          • Flybridge Yachts

          • Sport Yachts

          • Long Range Yachts

          • Others

        • Yacht Length

          • Up to 20 ft.

          • 20-50 ft

          • Above 50 ft.

      • Other

    • Non-motorized Boats

      • Kayaks

      • Canoes

      • Others

  • Equipment

    • Boat and Yacht Monitoring Solutions

    • IoT Sensors

      • Water Detection Sensors

      • Voltage Meters

      • Temperature And Motion Sensors

      • Others

    • Telematics Solutions

    • Others

• Regional Outlook (Revenue, USD Billion; 2017 - 2030)

  • North America

    • U.S.

    • Mexico

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Sweden

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Singapore

    • South Korea

  • 南美

    • Brazil

  • Middle East and Africa (MEA)