Key Influencer in the Leisure Boat Market 2025: Growing Tourism Drives Surge In Leisure Boat Market Driver

What industry-specific factors are fueling the growth of the leisure boat market?
The expansion of tourism is perceived to spur the development of the leisure boat market. Tourism represents a cultural, economic, and social occurrence, consisting of individuals visiting countries or areas beyond their usual environment for personal or professional motives. The swift escalation in tourism in the previous decade is attributed to higher disposable income, access to diverse places, motivation to discover, and other factors. Leisure boats serve the tourism sector by ferrying passengers to their chosen tourist spot, thereby offering a luxurious experience. For instance, a report by the United Nations World Trade Organization (UNWTO) in November 2023 stated that during the third quarter of 2023, there was a 22% increase in international tourists in global destinations compared to the same duration in the previous year. Further, overall tourism bounced back to 87% of pre-pandemic levels from January to September 2023. This positions the industry to nearly attain 90% by year's end, fueled by a robust Northern Hemisphere summer season. Consequently, the uptick in tourism is anticipated to stimulate the demand for leisure boats throughout the projected timeframe.

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What Is the projected market size and growth rate for the leisure boat market?
In recent times, the size of the leisure boat market has experienced steady expansion. It is projected to escalate from a worth of $44.72 billion in 2024 to $46.81 billion in 2025, showing a compound annual growth rate (CAGR) of 4.7%. Factors contributing to this growth during the historic period include marina and infrastructure advancement, the increase in consumer interest in water-related activities, promotional boating events, environmental consciousness and guidelines, as well as trends in tourism and travel.

In the coming years, a significant surge is anticipated in the leisure boat market size. It is expected to reach $59.77 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%. The rise during this projected period can be ascribed to factors such as expansion into new markets, market segmentation and diversity, promotional boating events, consumer inclination towards aquatic activities, and development of boating infrastructure. Noteworthy trends projected in this period encompass boat connectivity and the inclusion of technology, sustainable and environmentally-friendly designs, versatile boats with multifunctional features, emphasis on customization and personalization, and a surge in electric and hybrid boats.

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What new trends are reshaping the leisure boat market and its opportunities?
Leading entities in the leisure boat market are conscientiously working towards creating unique boats incorporating technology including solar-electric propulsion systems. This forward-thinking strategy seeks to foster sustainable sea-based solutions and elevate India as a front-runner in environmentally-friendly boating technology. Solar-electric propulsion systems offer green maritime solutions by using solar panels for electricity generation and ultimately powering electric motors to move the boat. This breakthrough minimizes dependence on fossil fuels and mitigates adverse environmental repercussions. For instance, NavAlt Solar & Electric Boats Pvt Ltd, an organization based in India that manufactures solar-electric and hybrid boats, unveiled the Barracuda in December 2023. This vessel is hailed as India's fastest solar-electric boat and was engineered for strength and effectiveness even under severe sea conditions, all while endorsing sustainable sea solutions. The Barracuda stands out due to its catamaran hull that ensures unmatched stability, an impressive top speed of 12.5 knots, and a 6-kW solar panel for battery recharging, thereby demonstrating its innovative integration of environmentally-friendly maritime technology.

What major market segments define the scope and growth 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 region dominates the leisure boat market?
North America was the largest region in the leisure boat market in 2024. 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.

Which key market leaders are driving the leisure boat industry growth?
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

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What Is Covered In The Leisure Boat Global Market Report?

•Market Size Forecast: Examine the leisure boat market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the leisure boat market for a structured understanding.
•Key Players Overview: Analyze major players in the leisure boat market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the leisure boat market.
•Segment Contributions: Evaluate how different segments drive overall growth in the leisure boat market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the leisure boat market.
•Industry Challenges: Identify potential risks and obstacles affecting the leisure boat market.
•Competitive Landscape: Review strategic developments in the leisure boat market, including expansions, agreements, and new product launches.

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