The global leisure boats market is anticipated to reach a valuation of US$ 78.4 Billion by 2032, with sales growing at a moderate CAGR of 5.8% from 2022 to 2032. Valued at US$ 42.6 Billion in 2021, the target market will likely reach an estimated US$ 44.6 Billion by the end of 2022. Rising adoption of technologically advanced tools like IoT by market manufacturers coupled with growing popularity of electric boats will propel the growth of the leisure boats market during the forecast period.
The leisure boats market encompasses the manufacturing, distribution, and sale of recreational watercraft designed for leisure activities such as cruising, fishing, watersports, and relaxation. Here’s an overview of the leisure boats market:
Types of Leisure Boats:
Motorized Boats: These include powerboats, speedboats, yachts, and cruisers equipped with engines for propulsion.
Sailboats: Sailboats are propelled primarily by sails and wind power, and they come in various types such as sailboats, catamarans, and trimarans.
Personal Watercraft (PWC): PWC, also known as jet skis or water scooters, are small, motorized vessels designed for one or two passengers for recreational use.
Gain expert insights and supercharge your growth strategies. Request our market overview sample:
https://www.futuremarketinsights.com/reports/sample/rep-gb-15653
Market Trends:
Rising Demand for Recreational Boating: The growing popularity of recreational boating as a leisure activity, coupled with increasing disposable incomes and leisure time, drives demand for leisure boats.
Innovation in Design and Technology: Manufacturers focus on introducing innovative features and technologies, such as advanced navigation systems, digital control interfaces, and eco-friendly propulsion options, to enhance the performance, safety, and comfort of leisure boats.
Customization and Personalization: Customization options allow buyers to tailor their boats to their preferences, including hull colors, interior layouts, amenities, and accessories, reflecting a growing trend towards personalized leisure experiences.
Rise of Electric and Hybrid Boats: Increasing environmental awareness and regulations drive the adoption of electric and hybrid propulsion systems in leisure boats, offering quieter operation, reduced emissions, and lower operating costs.
Market Drivers:
Growing Consumer Interest in Outdoor Recreation: The desire for outdoor experiences and recreational activities, particularly in natural environments like lakes, rivers, and coastal areas, fuels demand for leisure boats.
Boating Tourism and Travel: Boating tourism and travel contribute to the demand for leisure boats, as enthusiasts seek opportunities for exploration, adventure, and relaxation on waterways and coastal destinations.
Boat Ownership as a Lifestyle Choice: Boat ownership is often associated with a desirable lifestyle centered around leisure, relaxation, and socializing, driving demand among affluent consumers seeking status symbols and luxury experiences.
Key Players:
Major players in the leisure boats market include Brunswick Corporation (Mercury Marine, Sea Ray, Boston Whaler), Groupe Beneteau, Malibu Boats, Inc., Yamaha Motor Co., Ltd., and MasterCraft Boat Holdings, Inc.
Additionally, there are numerous smaller and niche players offering specialized boats, custom designs, and artisanal craftsmanship catering to specific market segments and consumer preferences.
Challenges:
Seasonality and Weather Dependence: The leisure boats market is highly seasonal and weather-dependent, with sales and demand influenced by factors such as weather conditions, seasonal variations, and regional climate patterns.
High Ownership Costs: The upfront costs of purchasing a leisure boat, as well as ongoing expenses related to maintenance, storage, insurance, fuel, and docking fees, can be significant barriers to ownership for some consumers.
Overall, the leisure boats market is driven by lifestyle preferences, outdoor recreation trends, and technological innovations, with opportunities for growth in emerging segments such as electric propulsion, smart connectivity, and experiential boating services. Efforts to address affordability, sustainability, and safety concerns will be key to sustaining long-term growth and market development in the leisure boats industry.
Request for Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-15653
“Integration of IoT technology, growing popularity of electric boats, and a heightened demand for used boats will likely propel the global growth of the leisure boats market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising demand for electric boats will strengthen market prospects.
- Europe’s leisure boat market will grow at a CAGR of 5.8%, reaching a value of US$ 19.6 Bn by 2032.
- The leisure boat market in the United States will be a major contributor to market growth by generating an opportunity of US$ 26.3 Bn during the assessment period.
- The diesel propulsion system will gain popularity and register a CAGR of 5.3% during the forecast period.
Key Segments Covered in Leisure Boats Industry Survey
Leisure Boats Market by Type:
- New Leisure Boat
- Motorized/Power Boats
- Non-motorized Boats
- Used Leisure Boat
- Motorized/Power Boats
- Non-motorized Boats
- Equipment
- Boat and Yacht Monitoring Solutions
- IoT Sensors
- Telematics Solutions
- Other Equipment
Ask the Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-15653
Leisure Boats Market by Propulsion System:
- Diesel
- Gas
- Electric / Hybrid
- Sail Drive
Leisure Boats Market by Region:
- North America Leisure Boats Market
- Europe Leisure Boats Market
- Asia Pacific Leisure Boats Market
- Middle East & Africa Leisure Boats Market
- Latin America Leisure Boats Market
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
