Categories: Market Research

Leisure Boat Market Worth $56.56 Billion By 2028

Overview and Scope
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.

Sizing and Forecast
The leisure boat market size has grown strongly in recent years. It will grow from $43.09 billion in 2023 to $45.37 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. 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 $56.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. 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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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

North America was the largest region in the leisure boat market in 2023. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the leisure boat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market 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, according to a report published by the United Nations World Trade Organization (UNWTO) in 2022, global tourism increased from 400 million in 2020 to 415 million in 2021, showing an increase of 4% in 2021 over the previous year. Therefore, the increased tourism is expected to boost demand for leisure boats during the forecast period.

Key Industry Players
Major companies operating in the leisure boat market report are Yamaha Motor Co Ltd., Brunswick Corporation, Winnebago Industries Inc., 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

The leisure boat market report table of contents includes:

1. Executive Summary
2. Leisure Boat Market Characteristics
3. Leisure Boat Market Trends And Strategies
4. Impact Of COVID-19
5. Leisure Boat Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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