Forecasting the Future of Leisure Boats Market Report 2023-2032: Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Brunswick Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Leisure Boat Global Market Report 2023 the growing tourism is the major driver for the leisure boat market's growth in the forecast period. 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.

The global leisure boat market size grew from $41.07 billion in 2022 to $44 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The leisure boat market size is expected to grow to $56.34 billion in 2027 at a CAGR of 6.4%.

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Major competitors in the leisure boat market are Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Brunswick Corporation, Ferretti S.P.A., Fountain Powerboats, Inc., Catalina Yachts, Avon Marina, Chaparral Boats, Inc.

A key trend in the leisure boat market includes technological advancement. In the leisure boat sector, artificial intelligence is being widely used to optimize routes, lower emissions, and reduce instances of human mistakes through the use of highly developed AI systems. For instance, in December 2020, Buffalo Automation, a US-based start-up that specializes in artificial intelligence and creates autonomous navigation technology for water taxis, leisure boats, and commercial ships, launched Greycraft Water Taxi. It is the first completely autonomous, AI-driven robotaxi that can transport passengers. The system uses AI, neural networks, and thermal imaging technologies to detect even the most minor obstacles and safety concerns, issuing important alerts and assisting in securely navigating around them. It is a stable, secure, and safe mode of transportation.

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The Leisure Boat market is segmented -

• By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Types

• By Power Source: Engine Powered, Sail Powered, Human Powered

• By Material Type: Aluminum, Fiberglass, Steel, Other Materials

• By Application: Fishing, Transportation, Sports, Travel and Tourism, Other Applications

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the leisure boat market.

The Business Research Company's "Global Leisure Boat Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Leisure Boat Market Include:
1. Executive Summary
2. Leisure Boat Market Characteristics
3. Leisure Boat Market Trends And Strategies
4. Leisure Boat Market - Macro Economic Scenario
5. Leisure Boat Market Size And Growth
……………
27. Leisure Boat Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Leisure Boat Market
29. Leisure Boat Market Future Outlook And Potential Analysis
30. Appendix

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