Leisure Boats

Leisure Boats

Global Leisure Boats Market to Reach US$53.6 Billion by 2030

The global market for Leisure Boats estimated at US$40.5 Billion in the year 2023, is expected to reach US$53.6 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2023-2030. Motorized/Power Boats, one of the segments analyzed in the report, is expected to record a 5.0% CAGR and reach US$33.8 Billion by the end of the analysis period. Growth in the Non-Motorized Boats segment is estimated at 2.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$16.6 Billion While China is Forecast to Grow at 5.7% CAGR

The Leisure Boats market in the U.S. is estimated at US$16.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.4 Billion by the year 2030 trailing a CAGR of 5.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.1% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.

Global Leisure Boats Market - Key Trends & Drivers Summarized

Leisure boats, encompassing a wide range of vessels such as yachts, sailboats, motorboats, and personal watercraft, have become synonymous with recreation, luxury, and adventure on water. These boats are designed for various activities, including cruising, fishing, water sports, and simply enjoying the open sea. Yachts, often the epitome of opulence, come equipped with state-of-the-art amenities and can range from small, single-cabin vessels to massive, multi-decked ships with luxurious accommodations. Sailboats appeal to those who appreciate the art of sailing, offering a connection to the wind and waves. Motorboats, known for their speed and versatility, cater to thrill-seekers and casual boaters alike whereas personal watercrafts such as jet skis provide high-speed excitement on lakes and coastal waters. The leisure boating industry has witnessed significant growth, driven by advancements in design, technology, and a burgeoning interest in water-based recreation.

Over the years, the design and manufacturing of leisure boats have evolved significantly, incorporating advanced materials and technologies to enhance performance, safety, and comfort. Modern leisure boats often feature lightweight and durable materials such as fiberglass and carbon fiber, which improve fuel efficiency and handling. Technological advancements have led to the integration of sophisticated navigation and communication systems, including GPS, radar, and sonar, making boating safer and more accessible to novices and experienced mariners alike. Innovations in engine technology have resulted in quieter, more fuel-efficient engines that reduce environmental impact while providing impressive power and speed. Additionally, the focus on sustainability has led to the development of electric and hybrid propulsion systems, reflecting a broader trend towards eco-friendly boating solutions. The customization options available today allow owners to tailor their vessels to specific needs and preferences, whether for competitive sailing, leisurely cruising, or water sports.

The growth in the leisure boats market is driven by several factors, including technological advancements, rising disposable incomes, and increasing interest in recreational activities. Technological advancements have not only improved the safety and performance of leisure boats but also made them more accessible and appealing to a broader audience. The introduction of leisure boats with advanced features such as digital dashboards, digital throttles and joystick controls is driving first-time sales. The use of sophisticated technologies has improved boat operations, prompting people to enjoy various recreational activities. The rise of electric and hybrid boats addresses the growing consumer demand for environmentally sustainable options. Additionally, the increasing popularity of water-based recreational activities, spurred by a desire for unique and adventurous experiences, has significantly boosted market demand. The tourism industry`s expansion, particularly in coastal and lakeside regions, has also contributed to the growth, with more tourists seeking boat rentals and charters. Government initiatives promoting marine tourism and the development of marina infrastructure have further supported market growth. These factors collectively underscore the dynamic and expanding nature of the leisure boats market, highlighting its ability to adapt to evolving consumer preferences and technological innovations.

Select Competitors (Total 247 Featured) -

• AB Volvo
• Canadian Tire Corporation, Limited
• Boat City
• Johnson Outdoors Inc.
• FINCANTIERI SpA
• MasterCraft Boat Company
• Bloemsma Van Breemen Shipyard
• Carver & Marquis Yachts
• Holland Jachtbouw BV
• Kha Shing Enterprises Co., Ltd. (Monte Fino Yachts)
• OCEA
• Oyster Yachts
• Shandong Heavy Industry Group Co., Ltd.
• Motomarine s.r.l.
• Cala Del Forte

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