The global leisure boats market demand 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.
Market Drivers:
Consumer Spending: Economic growth, rising disposable incomes, and increasing consumer spending on leisure and recreational activities drive demand for leisure boats, as individuals and families invest in lifestyle-enhancing experiences and purchases.
Boating Culture: The popularity of boating as a recreational activity and lifestyle choice, particularly in coastal regions, lakefront communities, and areas with access to waterways, fuels demand for leisure boats and related products and services.
Tourism and Travel: Boating tourism, waterfront development, and recreational boating destinations stimulate demand for leisure boats, attracting tourists, vacationers, and boating enthusiasts to explore coastal waters, inland lakes, and rivers.
Innovation and Technology: Advances in boat design, materials, propulsion systems, navigation equipment, and onboard amenities enhance the appeal, performance, safety, and comfort of leisure boats, driving market growth and consumer interest.
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Competitive Landscape
Avon Marine, Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Bombardier Recreational Products Inc., Brunswick Corporation, Chaparral Boats Inc., Catalina Yachts, Farr Yacht Design, Ltd., Ferretti S.P.A., Fountain Powerboats, Inc., Groupe Beneteau, Sunseeker International Limited, Malibu Boats, Marine Product Corporation, MasterCraft Boat Company, Polaris Inc., and Ranger Boats among others are some of the major players in the leisure boats market profiled in the full version of the report.
Leading market players are concentrating on integrating new and advanced technologies into their products. These firms are keen on joint ventures, partnerships, and collaborations to gain a competitive advantage.
Based on region, the leisure boat market in Europe will exhibit tremendous growth during 2022-2032. The market in this region will expand at a CAGR of 5.8%, generating a market value of US$ 19.6 Bn. This growth can be attributed to the presence of an expanding and well-established boating industry in this region. In terms of contributions to the overall leisure boat market growth by individual countries, the United States will remain the biggest contributor to the rising target market demand. The leisure boat market in the U.S. is anticipated to grow at a CAGR of 5% and reach a value of US$ 26.3 Bn by the end of 2032.
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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
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.
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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.
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