How big is the leisure boat market today, and what are its future growth expectations?
The leisure boat market size has grown steadily in recent years. It will grow from $44.72 billion in 2024 to $46.81 billion in 2025 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to marina and infrastructure development, consumer preferences for water-based activities, boating events and promotions, environmental awareness and regulations, tourism and travel trends.
The leisure boat market size is expected to see strong growth in the next few years. It will grow to $59.77 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to emerging market expansion, market segmentation and diversification, boating events and promotions, consumer preferences for water-based activities, expansion of boating infrastructure. Major trends in the forecast period include boat connectivity and tech integration, sustainable and eco-friendly designs, versatility and multifunctional boats, focus on customization and personalization, rise in electric and hybrid boats.
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How has the leisure boat market evolved, and what factors have shaped its growth?
The growing tourism is expected to propel the growth of the leisure boat market. Tourism is a social, cultural, and economic phenomenon that involves individuals travelling to nations or locations beyond their typical surroundings for personal or business/professional reasons. The rapid growth in tourism over the past decade is due to increased disposable income, access to various locations, the urge to explore, and others. Leisure boat aids the tourism industry by carrying passengers to their desired travel destination and providing a luxurious experience to the tourists. For instance, in November 2023, according to a report published by the United Nations World Trade Organization (UNWTO), in the third quarter of 2023, global destinations welcomed 22% more international tourists compared to the same period last year, with overall tourism recovering to 87% of pre-pandemic levels in January-September 2023, positioning the sector to reach nearly 90% by the end of the year, driven by a strong Northern Hemisphere summer season. Therefore, the increased tourism is expected to boost demand for leisure boats during the forecast period.
What are the major segments of the leisure boat market?
The leisure boat market covered in this report is segmented –
1) By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Types
2) By Power Source: Engine Powered, Sail Powered, Human Powered
3) By Material Type: Aluminum, Fiberglass, Steel, Other Materials
4) By Application: Fishing, Transportation, Sports, Travel And Tourism, Other Applications
Subsegments:
1) By Yachts: Motor Yachts, Sailing Yachts, Luxury Yachts, Sports Yachts
2) By Sailboats: Monohull Sailboats, Multihull Sailboats (Catamarans And Trimarans), Day Sailers, Racing Sailboats
3) By Personal Watercrafts: Jet Skis, Stand-Up Personal Watercraft, Sit-Down Personal Watercraft, Towable Personal Watercraft
4) By Inflatables: Inflatable Boats (RIBs – Rigid Inflatable Boats), Inflatable Kayaks, Inflatable Rafts, Inflatable Paddleboards
5) By Other Types: Fishing Boats, Cabin Cruisers, Houseboats, Electric Boats, Specialty Boats
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Which companies dominate the leisure boat market?
Major companies operating in the leisure boat market include Yamaha Motor Co Ltd., Brunswick Corporation, Groupe Beneteau, Ferretti S.p.A., Viking Yacht Company, MasterCraft Boat Company, Malibu Boats LLC, Princess Yachts International plc, Marine Products Corporation, Sunseeker International Limited, Boston Whaler Inc., Westport Yachts, Hatteras Yachts, Regal Boats, Cobalt Boats LLC, Grady-White Boats Inc., Ranger Boats Inc., Duffy Electric Boats, Monterey Boats, Canadian Electric Boat Company, Chaparral Boats Inc., CRN SpA, Jeanneau, Nautor’s Swan OYJ, Andaman Boatyard, Azimut Benetti Group, Baja Marine Inc., Bavaria Yachtbau GmbH, Boote Marian GmbH
How will evolving trends contribute to the growth of the leisure boat market?
Major companies in the leisure boat market are focused on developing an innovative boat that leverages technology such as solar-electric propulsion systems to advance sustainable maritime solutions and establish India as a leader in eco-friendly boating technology. A solar-electric propulsion system is an eco-friendly boating technology that utilizes solar panels to generate electricity, which then powers electric motors for propulsion, significantly reducing reliance on fossil fuels and minimizing environmental impact. For instance, in December 2023, NavAlt Solar & Electric Boats Pvt Ltd, an India-based solar-electric and hybrid boat manufacturing company, launched the Barracuda, which is recognized as India’s fastest solar-electric boat, designed for durability and performance in challenging sea conditions while promoting sustainable maritime solutions. Barracuda features a catamaran hull for exceptional stability, a top speed of 12.5 knots, and a 6-kW solar panel for battery charging, highlighting its innovative approach to eco-friendly maritime technology.
What are the key regional dynamics of the leisure boat market, and which region leads in market share?
The countries covered in the leisure boat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Leisure Boat Market Report 2025 Offer?
The leisure boat market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The leisure boat refers to a large boat used to carry passengers along rivers, lakes, or across the sea for spending leisure time, travelling, recreational, entertainment purposes and others. These boats sometimes have luxurious features such as lodging, cabins, and other amenities.
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