USD 41.7 billion
Leisure Boat Market Size, Share, Growth Analysis, By Type (Super yachts, Motorized Boats), By Product, By End Use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG10A2049 |
Region:
Global |
Published Date: December, 2024
Pages:
174
|Tables:
93
|Figures:
75
Leisure Boat Market Insights
Leisure Boat Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 75.25 Billion by 2032, growing at a CAGR of 5.4% during the forecast period (2025-2032).
Increasing consumption of citizens, tourism industry in emerging economies such as Brazil and China are some of the major factors boosting market growth. Also, the competitiveness of people involved in leisure is estimated in boat operations across the globe will boost growth. The market, which is expected to boost growth, includes boat builders, engine builders, independent dealers, a service providers and equipment manufacturers.
The market is expected to offer promising growth prospects throughout the forecast period due to a combination of factors such as the number of investments and research done by leading players in the industry to grow and diversify their portfolios has been successfully.
Increasing awareness among consumers of the benefits of integrating technology into conventional boats is expected to propel the market growth in the coming years. Manufacturers are increasingly blending advanced technologies such as IoT, AI, and smart sensors to provide the users with features such as GPS tracking, automatic control, smart connectivity, and assist owners to move improve the safety and security of their boats in deep water.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Used Leisure Boat
Fastest Growth
new leisure boat
Growth Rate
5.5%
Global Leisure Boat Market ($ Bn)
Country Share for North America Region (%)
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Leisure Boat Market Segmental Analysis
Global Leisure Boat Market is segmented by Type, Product, End Use and Region. Based on Type, the market is segmented into New Leisure Boat, Non-Motorised Boats, Used Leisure Boat, Super Yachts, Yacht length, Non-Motorized, Equipment, Telematics Solutions. Based on Product, the market is segmented into Motorized Leisure boat, Non-Motorized Boat. Based on End Use, the market is segmented into Fishing, Water Sports, Cruising and Sailing, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
The used leisure boat segment is dominant in the leisure boat market. The used leisure boat segment accounted for more than 80% of the market in 2023. This is because used boats can be purchased quickly, with long-term delivery terms. These tend to be more expensive because their value has decreased due to what they already had and use. Used boats are usually working and ready to sell, encouraging users to choose a used boat. Another major factor in the large portion of the fleet is the relatively low cost of these boats compared to other boats. The used leisure boat segment plays an important role in the overall leisure boat market, providing an affordable alternative to new boats. This category caters primarily to first-time buyers, hobbyists and low-budget customers who cannot afford the high cost of a new boat. Used boats offer individuals a cost-effective way to enjoy sailing without the financial burden associated with the depreciation of new boats.
The new leisure boat segment is expected to grow significantly during the forecast period. Factors including the increasing adoption of advanced technologies, such as smart sensors, artificial intelligence (AI), and the Internet of Things (IoT), as well as flexible financing options for boat builders the availability of supply is driving the market. These boats are usually more expensive than used boats, as their condition comes directly from the manufacturer and new boats are included in the warranty. The new leisure boat segment plays an important role in the innovation and growth of the leisure boat market. As consumer preferences continue to move towards sustainability, advanced technology and luxury experiences, new boat designs meet these trends, offering environmentally friendly features combined such as electric propulsion, solar panels and smart on-board systems.
Analysis by Product
Motorized leisure boat is the dominant segment in the market. The motorized leisure boat segment accounted for more than 87% of the market share in 2023. Boating is one of the many popular outdoor leisure activities worldwide. With more and more people looking for ways to interact with nature communicate, spend their leisure time actively and adventurously explore for motorized leisure vessels. Furthermore, motorized leisure boats provide a fun and interesting option a through which you will enjoy the open sea. Small recreational boats and luxury boats are examples of motorized recreational boats, commonly referred to as powerboats. They offer a range of comfortable and convenient features, such as comfortable seats, plenty of storage space, navigation systems and an entertainment system. Wakeboarding, water skiing, cruising, fishing and other water sports are all possible to the wide availability of motorized recreational boats.
The non-motorized leisure boat segment is expected to grow at a rapid growth rate at a CAGR of 7.2% during the forecast period. Since environmental protection concerns are increasing due to impact lower environmental footprint, non-motorized recreational boats become more popular because these boats do not require gasoline engines. Unmanned recreational boats, commonly referred to as human-powered boats, offer significant enhancements for diving recreation activities in the field. Outdoor activities that encourage physical activity are becoming increasingly popular due to an increased focus on health and wellness. Nonmotorized recreational watercraft, such as kayaking, paddleboarding, and canoeing, offer low-impact exercise that appeals to people with health concerns. These boats rely on human power for propulsion rather than engines or machinery, such as cruising, sailing, or rowing boats.
Global Leisure Boat Market By Type (%)
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Leisure Boat Market Regional Insights
North America, especially the United States, plays an important role in the global leisure boat market due to its long sailing culture and favorable conditions for recreational water activities. The region benefits from offshore an extensive, large inland water bodies and high consumer spending, powerful boats, yachts, etc. U.S. is home to many prominent boat builders including Brunswick Corporation, Malibu Boats, making this area a hub for innovation and manufacturing in the leisure boat market. In addition to high customer demand, North America’s robust regulatory environment ensures that manufacturers adhere to stringent safety and environmental standards. The market in this region is also seeing growth in boat rentals and shares, which appeals to a younger generation that is more experience driven than ownership focused. North America region in the market along with continuous innovations in hybrid electric boat technology has to the global positions of the leisure boat market as a major driver.
The Asia-Pacific region is emerging as an important player in the leisure boat market, with rising economic growth, rising disposable income and increasing interest in recreational activities by China, Australia, Japan and South Korea are fueling the rapid growth of the leisure boat market. Affluent are increasingly interested in luxury yachts such as yachts, driven by rising urbanization and increasing lifestyle changes. Asian countries investing in marine tourism and water of the sports industry, giving the market a tremendous boost. Expanding seaports and developing offshore infrastructure in these countries create an ideal environment for leisure boating but the market is still relatively small. Additionally, governments in the Asia-Pacific promote recreational maritime activities, offering international sailing events and trade shows that help raise awareness of marine salvage.
Global Leisure Boat Market By Geography
- Largest
- Fastest
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Leisure Boat Market Dynamics
Drivers
Increasing Disposable Income and Increased Interest in Leisure Activities
- One of the major drivers of the leisure boat market is the increasing disposable income in various regions, especially in developed and emerging economies, whereas people’s income increases and interest in leisure activities, including boating increases. The leisure boat market caters to a wide range of activities such as fishing, sailing, sailing, water sports, which have become more accessible due to this increased economic vitality. Middle income and high-income individuals spend heavily on social development activities, contributing to the growth of the leisure boat market. In addition, governments in many countries are encouraging recreational tourism, further encouraging the expansion of recreational boating and the overall market.
Technological Advances in Boat Building
- Integration of latest technologies in boat design and construction is a key driver of the leisure boat market. Modern leisure boats feature advanced navigation systems, automation, advanced safety features and environmentally friendly propulsion systems. The development of hybrid electric engines is especially important as users become more environmentally conscious. These technological advances not only improve boat performance and safety, but also improve the overall boating experience, attracting more buyers to the market for innovative and sustainable boats that rival manufacturers will provide, driving market growth.
Restraints
High Cost of Ownership and Maintenance
- Despite the growing popularity of recreational boating, the high cost of buying and maintaining a boat is a major limiting factor in the market. Apart from leisure boats, especially yachts and luxury yachts, which require a large upfront investment and restrict their affordability for a large segment of the population. These financial burdens are often shifted from potential buyers, especially in areas with lower average incomes. As a result, the market may see slower adoption rates in lower cost areas.
Stricter Environmental Regulations
- Another major restriction in the leisure boat market is the more stringent environmental regulations imposed by governments all over the world. In response to growing concerns about climate change, maritime authorities are tightening emissions standards for leisure boats, especially conventional fossil fuel engines use in these areas can slow down market growth.
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Leisure Boat Market Competitive Landscape
The leisure boat market is highly competitive, with a mix of well-established global players and small local operators vying for market share. Competition in this industry is driven by innovation, technological advancements, supply chains, brand name and pricing strategies are generated. Companies invest heavily in research and development (R&D) to develop advanced, environmentally friendly and feature-rich boats that meet the evolving needs of customers. Leading players in the market focusing on expanding their range to include boats, sailboats, a wide range of pontoons as well as personal watercraft targeting segments of the recreational boating enthusiast.
Top Player’s Company Profiles
- Azimut-Benetti (Italy)
- Bavaria Yachtbau GmbH (Germany)
- Brunswick Corporation (United States)
- Ferretti S.P.A (Italy)
- Forest River, Inc (United States)
- Fountaine Pajot SA (France)
- Groupe Beneteau (France)
- Hallberg-Rassy (Sweden)
- HanseYatchs AG (Germany)
- Legend Boats, Ltd (United States)
- Lürssen (Germany)
- Malibu Boats, Inc (United States)
- Marine Products Corporation (United States)
- MasterCraft Boat Company, Inc (United States)
- Porter, Inc (Formula Boats) (United States)
- Riviera Australia Pty. Ltd (Australia)
- Sanlorenzo Spa (Italy)
- White River Marine Group (United States)
- Yamaha Motor Corporation (Japan)
Recent Developments
- In June 2023, the shipyard introduced Sparta superyacht. Winch Design handled both the exterior & interior styling, featuring an exterior profile with a sleek distinctive "Venice red" and metallic gray panels.
- In May 2023 shipbuilder Archipelago Expedition Yachts partnered with shipbuilder Chartwell Marine to develop a carbon-free methanol leisure yacht Island Group that can be used for leisure sailing.
- In February 2022, the Norwegian companies Hynion AS, a hydrogen fuel company, and Hyrex AS, a hydrogen technology company, formed a joint venture announced plans to start a floating hydrogen plant to fuel leisure boats.
Leisure Boat Key Market Trends
- Shift Towards Eco-Friendly and Sustainable Boats: A key trend inside the leisure boat market is the shift to sustainable, environmentally pleasant boats. Consumers are getting an increasing number of privies to its environmental impact, and demand for low-carbon boats is growing. Manufacturers are responding by means of supplying electric and hybrid boats that offer smooth options to traditional gas-powered engines. Additionally, innovations in raw materials, inclusive of recyclable composite substances and lightweight, fuel-green substances contribute to the sustainability and are predicted to provide the demand for environmentally friendly leisure boats has been developing within the coming years.
- Growing Popularity of Shared Ownership and Boat Clubs: An emerging trend in the leisure boat market in response to the high cost of ownership is the rise in shared ownership and fleet types. Yacht clubs in particular offer members the enjoyment of boats for an annual or monthly fee, enabling a wider audience to sail. This trend is gaining in popularity, especially among younger generations who prefer experiences over ownership and are drawn to the convenient, cost-effective cruise option.
Leisure Boat Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the leisure boat market is booming due to increasing disposable income and technological advancements in the boat manufacturing. Higher income earners are more involved in recreational boating activities, while innovations in boat design and racing systems enhance user experience growth and encourages the adoption of modern boats but the market faces challenges due to the high cost of ownership and maintenance, and stringent environmental regulations. The key trends are that flexibility and increasing shared consumption are creating new opportunities for market expansion. As sustainability becomes the focus, manufacturers can thrive with lightning energy or hybrid solutions are provided, while fleets and shared infrastructure make shipping more flexible for a wider customer base.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 41.7 billion |
| Market size value in 2031 | USD 71.4 billion |
| Growth Rate | 5.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Leisure Boat Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Leisure Boat Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Leisure Boat Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Leisure Boat Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Leisure Boat Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Leisure Boat Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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