Strong Growth Ahead: Leisure Boat Market Size To Grow At Arecord 6.3% Cagr By 2029

The Leisure Boat Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Leisure Boat Market?
Recent years have seen a consistent increase in the size of the leisure boat market. The market, which is projected to escalate from $44.72 billion in 2024 to $46.81 billion in 2025, expects to witness a compound annual growth rate (CAGR) of 4.7%. Factors contributing to the market's historic growth include developments in marina and infrastructure, changing consumer preferences towards aquatic activities, promotional boating events, heightened environmental consciousness and regulations, as well as evolving trends in tourism and travel.

In the coming years, the leisure boat market is anticipated to witness robust growth, escalating to $59.77 billion by 2029 with a 6.3% compound annual growth rate (CAGR). The projected growth during this period can be traced back to factors such as the expansion of emerging markets, segmentation and diversification of markets, the influence of boating promotions and events, consumer inclination towards water-based recreational activities, and development of boating infrastructure. The period also sees major trends like advancements in boat connectivity and technical incorporation, the rise of environmentally friendly and sustainable designs, multifaceted and versatile boats, and a growing emphasis on customization and personalization. There is also an increasing preference for electric and hybrid boats.

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What Are the Different Leisure Boat Market Segments?
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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What Are the Primary Drivers Shaping the Leisure Boat Market?
The expansion of the leisure boat market is predicted to be driven by the surge in tourism. Tourism, defined as a socioeconomic and cultural activity, entails individuals embarking on journeys to foreign countries or unfamiliar places for either personal or work-related purposes. The exponential rise in tourism in the past ten years can be attributed to a higher disposable income, access to multiple destinations, the inherent desire to explore, among other factors. Leisure boats support the tourism industry by transporting passengers to their chosen travel spots and offering them a luxurious journey. To illustrate, a report released by the United Nations World Trade Organization (UNWTO) in November 2023 showed that in the third quarter of 2023, the number of international tourists visiting global destinations increased by 22% compared to the same timeframe in the previous year. Overall, tourism regained 87% of its pre-COVID levels in January-September 2023, setting the industry on a course to almost 90% recovery by year-end, thanks to a robust Northern Hemisphere summer season. As a result, the surge in tourism is likely to enhance the demand for leisure boats in the future.

Which Companies Are Leading in 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

What Are the Major Trends Shaping the Leisure Boat Market?
Leading entities in the leisure boat market are concentrating on creating a groundbreaking boat that utilizes technologies like solar-electric propulsion systems to champion sustainable maritime solutions, thus placing India at the forefront of green boating technology. A solar-electric propulsion system is an earth-friendly maritime technology that employs solar panels to produce electricity. This electricity then powers electric motors for propulsion, reducing dependence on fossil fuels and lessening its environmental damage. For example, in December 2023, India's NavAlt Solar & Electric Boats Pvt Ltd, a manufacturer specializing in solar-electric and hybrid boats, introduced the Barracuda. This boat is hailed as India's quickest solar-electric boat, crafted to withstand harsh sea conditions and emphasize sustainable maritime solutions. The innovative Barracuda is equipped with a catamaran hull for unparalleled stability, reaches peak speeds of 12.5 knots, and has a 6-kW solar panel for battery charging, proving its progressive take on green maritime technology.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Leisure Boat Market?
2. What is the CAGR expected in the Leisure Boat Market?
3. What Are the Key Innovations Transforming the Leisure Boat Industry?
4. Which Region Is Leading the Leisure Boat Market?

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