The global Leisure Boat market size is expected to be worth around US$ 55.29 billion by 2028, according to a new report by Vision Research Reports.
The global Leisure Boat market size was valued at US$ 39.79 billion in 2020 and is anticipated to grow at a CAGR of 4.4% during forecast period 2021 to 2028.
The increasing popularity of marine and coastal tourism, coupled with the growing inclination toward yachting as a recreational activity, is a primary factor driving the market. Although the ongoing Covid-19 pandemic has proved to be a major hindrance for the market, the gradual re-opening of the economies and upliftment of restrictions are paving the way to bring the market back on track. Besides, the growing urge among masses to involve in leisure activities in the post-lockdown period further presents bright opportunities for the market over the forecast period.
The tourism industry has changed drastically over the last few years with the increasing popularity of marine and coastal tourism activities. The world economy is witnessing healthy growth and markets, such as the U.S., are witnessing growth in the per-capita income of the individuals, which, in turn, has resulted in a rise in the disposable income of consumers. Moreover, there has been a rise in the number of High Net Worth Individuals (HNWIs), which is expected to drive consumers to spend more on leisure activities, thus boosting demand for recreational boats.
The increasing number of boat shows and water sporting events are attracting a large number of boaters worldwide. The leading manufacturers are sponsoring boat shows and events, which, in turn, is enhancing the popularity of leisure boats. North America is poised to remain the most prominent region in terms of revenue generation during the forecast period. The rising demand for recreational watercraft is driven by factors such as improving economic conditions and the rising disposable income of consumers in the region. The U.S. is anticipated to witness significant growth over the forecast period. Demand in the country is majorly driven by factors such as the increasing number of high net worth individuals and the growing popularity of water sports and fishing activities.
The used leisure boat segment accounted for over 76.0% share of the global revenue in 2020. 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 the 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 over the forecast period. Factors including the increasing adoption of advanced technologies, such as smart sensors, (AI), and the Internet of Things (IoT), and 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, yacht, 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 of yachts and the rise in the number of yachting events worldwide are driving the market.
The monitoring equipment segment is anticipated to expand at a CAGR of 6.5% 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.
North America dominated the market in terms of revenue and accounted for more than 46.0% share of the global revenue in 2019. The resurgence in the economy post economic recession, coupled with the availability of affordable credit in the regional market, is resulting in the higher number of boat sales in the region. Besides, the rising demand for recreational watercraft in the U.S. is driving the regional market.
Azimut Benetti Group
Bavaria Yachtbau GmbH
Bombardier Recreational Products (BRP) Inc.
Chaparral Boats, Inc.
Farr Yacht Design, Ltd.
Fountain Powerboats, Inc.
New Leisure Boat
Long Range Yacht
Up to 20 ft.
Above 50 ft.
Used Leisure Boat
Long Range Yacht
Up to 20 ft.
Above 50 ft.
Boat and Yacht Monitoring Solutions
Water Detection Sensors
Temperature and Motion Sensors
Middle East and Africa (MEA)
The Leisure Boat market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Leisure Boat market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Leisure Boat market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Leisure Boat market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Leisure Boat market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Leisure Boat capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Leisure Boat by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Leisure Boat market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Leisure Boat market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Leisure Boat market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Leisure Boat industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Leisure Boat market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Leisure Boat market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Leisure Boat market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Leisure Boat market. These factors have benefited the growth of the global market for Leisure Boat. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Leisure Boat. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Leisure Boat are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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