Press release
Leisure Boat Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company offers in-depth market insights through Leisure Boat Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Growing Tourism Drives Surge In Leisure Boat Market
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.
Competitive Landscape:
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
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Top Trend - Sustainable Marine Boats Set To Revolutionize Recreational Boating
Major companies in the leisure boat market are focused on developing sustainable marine boats, such as electric boats, to revolutionize recreational boating and maximize their profits in the market. An electric boat is a watercraft powered by electric propulsion systems, utilizing batteries or solar energy for clean and sustainable operation. For instance, in December 2023, Blue Innovations Group (BIG), a US-based technology company, launched the R30 electric boat, aiming to revolutionize recreational boating with sustainable marine technology. This 30ft electric cabin cruiser features solar-charging capability, an 800hp twin-motor powertrain, and a 221kWh battery pack. With a semi-walkaround design, retractable solar panels, and an 'ocean terrace,' the R30 provides an unparalleled boating experience, combining advanced technologies and timeless styling with a silent, pollution-free propulsion system.
The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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