Recreational Boat Market by Boat Type (Yachts, Sailboats, Personal Watercrafts, Inflatables), Boat Size, Engine Location, Engine Type, Material, Activity Type, Power Source, Power Range, Distribution Channel, Region - Global Forecast to 2032

The recreational boat market is expected to grow from USD 15.96 billion in 2025 to USD 24.64 billion by 2032, at a compound annual growth rate (CAGR) of 6.4% during the forecast period. Rising disposable incomes are fueling the global recreational boat market, as more people can now afford luxury and leisure activities, particularly in North America and coastal Europe, where marine infrastructure and water tourism are well-established and expanding rapidly. Opportunities will arise as companies such as Brunswick Corporation and Groupe Beneteau introduce electric and hybrid models, reducing ownership and operation costs while appealing to environmentally conscious buyers. Technological advances, such as autonomous navigation, digital platforms, and modular interiors, are shaping the market’s transformation, making boating safer, more accessible, and more attractive to a broader demographic. Diverse rental and fractional ownership models lower entry barriers, addressing younger buyers in urban centers and retirees in premium tourist regions. As a result, the industry grows by aligning product innovations and pricing strategies to specific regional trends and consumer segments, with sustainable boating gaining momentum.

“Outboard engine boats are expected to be the largest segment during the forecast period.”

Outboard engine boats are expected to hold the highest share in the recreational boat market due to their advantages, such as quicker installation, easier maintenance, more usable interior space, and simpler upgrades, all of which suit small to mid-sized boats popular for fishing and leisure activities in coastal and inland waters. The demand for these boats is also driven by their portability, lower draft requirements, and better suitability for casual boating activities. International Trade Center data on marine exports show outboard making up over 80% of export value in 2024. North America is at the forefront of this market due to its extensive lake networks and high rates of boat ownership. Asia Oceania is also experiencing rapid expansion driven by the tourism and commercial fishing sectors. For instance, Yamaha Motor Company launched HARMO 2.0 electric outboard propulsion system in November 2024 to cater to the rising demand for outboard propulsion systems. Outboard position engine boats will thus continue to hold a substantial market share during the forecast period, attributed to their strong alignment with user-friendly design, adaptable performance, and forward-looking propulsion trends.

“Electric boats are expected to be the fastest-growing segment during the forecast period.”

Electric boats are rapidly gaining traction in the recreational boat market, propelled by environmental regulations and consumer interest in sustainable leisure activities. Europe and North America lead this transition, supported by government incentives, rigorous emission laws, and increased investments in charging infrastructure. Electric propulsion offers several significant advantages, including lower operating costs, minimal maintenance, quieter operation, zero direct emissions, and the ability to utilize renewable power sources, such as solar panels. Ongoing government support initiatives through rebates, subsidies, and infrastructure investments in charging networks, enabling broader adoption of electric boats. Public initiatives, including the US Federal Transit Administration’s USD 316 million grant (2024) and the EU Horizon Europe’s USD 9.09 million STEESMAT project (2025), further accelerate the adoption of clean energy. Manufacturers like Yamaha, Brunswick Corporation, and Malibu Boats are advancing electric propulsion with high-capacity batteries and integrated solar systems. For instance, Germany’s ABT Marian M 800-R features a 121.5 kWh battery, reaching 85 km/h and an 80 km range, while Navalt’s Marsel 5 solar-electric catamaran accommodates 24 passengers with near-zero emissions.

“Asia Oceania is expected to exhibit the highest growth rate, with personal watercraft boats experiencing the fastest growth during the forecast period.”

China’s recreational boat market is expected to grow at a CAGR of 5.5% CAGR during the forecast period due to the rapid development of marina infrastructure in coastal areas like Hainan and increased demand from the rising middle class for tourism and family outings, which boosts sales of small luxury crafts. India’s growth is expected to be slightly higher than China’s, driven by rapid growth in local tourism activity and a government push through multiple policy initiatives, such as the River Cruise tourism project. Japan is also expected to see a growth rate close to China’s. This growth is enabled by better engines, which have reduced fuel costs and comply with local noise regulations. In Asia Oceania, the personal watercraft boat segment is expected to grow at the fastest rate because these boats are less expensive, require minimal storage space, and are popular among the young generation of customers. For instance, Kawasaki’s Ultra 310 LX/LXS and the STX 160X 2025 jet ski model with quiet electric options sells in large numbers in Japan’s urban areas for city escapes, while Yamaha’s compact PWC line, which includes FX SVHO and FX Cruise HO, is popular in India’s local tourism industry.

In-depth interviews were conducted with managers, marketing directors, other innovation & technology directors, and executives from various key organizations operating in this market.

• By Company Type: OEM - 50%, Tier I - 16%, Tier II - 13%, and Tourism/Rental Platforms - 21%
• By Designation: Managers - 30%, Directors - 15%, and Others - 55%
• By Region: North America - 30%, Europe - 20%, Asia Oceania - 40%, and Rest of the World - 10%

The recreational boat market is dominated by established players, including Brunswick Corporation (US), Yamaha Motor Corporation (Japan), Groupe Beneteau (France), Ferretti Group, and Malibu Boats (US). These companies have been developing new products, adopting expansion strategies, and undertaking collaborations, partnerships, and mergers & acquisitions to gain traction in the recreational boat market.

Research Coverage:

The report covers the recreational boat market, by boat type (yachts, sailboats, personal watercraft boats, inflatable boats), activity type (cruising & watersports, fishing), boat size (<30 feet, 30–50 feet, >50 feet), material type (aluminum, steel, fiberglass), engine location (outboard, inboard), engine type (ICE, electric), power source (engine-powered, sail-powered, human-powered), power range (<100 kW, 100–200 kW, >200 kW), distribution channel (boat dealership, boat shows, online boat sales), and Region (Asia Oceania, Europe, North America, and Rest of the World). It also covers the competitive landscape and company profiles of the major players in the recreational boat ecosystem.

Key Benefits of Buying Report:

• The report will help market leaders and new entrants in this market by providing information on the closest approximations of revenue numbers for the overall recreational boat market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights, enabling them to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.

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