Leisure Boat Market Size, Share & Trends Analysis Report By Type (New Leisure Boat, Used Leisure Boat, Monitoring Equipment), By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Leisure Boat market gathered revenue around USD 41.12 Billion in 2020 and market is set to grow USD 58.20 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 5.2% during the prediction period 2021 to 2027.

Growth Factors:

The increasing popularity of marine and coastal tourism, coupled with the growing inclination toward yachting as a recreational activity, is a primary factor driving the market. Although the ongoing Covid-19 pandemic has proved to be a major hindrance for the market, the gradual re-opening of the economies and eased restrictions are paving the way to bring the market back on track. Besides, the growing urge among masses to involve in leisure activities in the post-lockdown period further presents bright opportunities for the market over the forecast period.

The tourism industry has changed drastically over the last few years with the increasing popularity of marine and coastal tourism activities. The world economy is witnessing healthy growth and markets, such as the U.S., are witnessing growth in the per-capita income of the individuals, which, in turn, has resulted in a rise in the disposable income of consumers. A rise in the number of High-Net-Worth Individuals (HNWIs) is expected to drive consumers to spend more on leisure activities, thus boosting demand for recreational boats.

The increasing number of boat shows and water sporting events are attracting a large number of boaters worldwide. The leading manufacturers are sponsoring boat shows and events, which, in turn, is enhancing the popularity of leisure boats. North America is poised to remain the most prominent region in terms of revenue generation during the forecast period. The rising demand for recreational watercraft is driven by factors such as improving economic conditions and the rising disposable income of consumers in the region. The U.S. is anticipated to witness significant growth over the forecast period. Demand in the country is majorly driven by factors such as the increasing number of high-net-worth individuals and the growing popularity of water sports and fishing activities.

Furthermore, there are changes taking place in boat building, such as the adoption of IoT technology that enables appliances, physical structures, vehicles, smartphones, wearable devices, and heavy equipment to be connected, while facilitating an exchange of information through a single network. The connected boat provides enhanced safety, security, and accuracy, while also improving the efficiency of the boat by digitalizing and optimizing various functions.

Measures taken by various governments to promote tourism activities in their countries are also boosting the market growth. Countries with rich natural resources, such as vast coastlines and large inland water bodies, are undertaking initiatives to promote recreational boating activities to increase their tourism business. Countries such as the U.S. have a vast coastline, a highly developed infrastructure, and a large population that participates in leisure boating activities, thus opening new growth opportunities for the market. Additionally, the French government is encouraging yacht manufacturers by providing them support in various forms, thus enabling them to invest in expanding their yacht maintenance and construction capacities.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Leisure Boat market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Leisure Boat market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 58.20 Billion by 2027
Growth Rate CAGR of 5.2% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Type and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Chaparral Boats, Inc.; Farr Yacht Design; Ferretti S.P.A.; Fountain Powerboats, Inc.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Leisure Boat market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

North America dominated the market in terms of revenue and accounted for more than 45.0% share of the global revenue in 2020. The resurgence in the economy post economic recession, coupled with the availability of affordable credit in the regional market, is resulting in a higher number of boat sales in the region. Besides, the rising demand for recreational watercraft in the U.S. is driving the regional market. The U.S. is witnessing the increasing popularity of marine recreational activities, including boating and cruising. The U.S. alone held a regional market share of 58.9% in 2020 owing to the rising sales in Florida, California, and New York.

Europe is expected to expand at the highest CAGR over the forecast period. Surging demand for recreational boats in various countries, including the U.K., France, Germany, Italy, and Spain, is estimated to propel the growth of the regional market. Increasing participation of people in recreational boating activities is also projected to bolster the growth of the regional market. Furthermore, rising recreational boating events and trade shows hosted by manufacturers are supplementing the growth of the market in Europe.

Asia Pacific is anticipated to witness significant growth over the forecast period owing to the major steps taken by the governments of several countries in the region for the development of tourism activities. The market in China is likely to exhibit the highest CAGR of 6.0% over the forecast period. This growth can be attributed to the abundance of water resources, such as vast coastline, inland lakes, and rivers. Moreover, measures taken by the Government of China to promote yachting as a leisure activity are estimated to trigger the demand for recreational watercraft in the country.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Leisure Boat Market include:  Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Chaparral Boats, Inc.; Farr Yacht Design; Ferretti S.P.A.; Fountain Powerboats, Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • By Type
    • New Leisure Boat
      • Motorized/Power Boats
        • Personal Watercraft
        • Outboard Boats
        • Yachts
          • Yacht Type
            • Super Yachts
            • Flybridge Yachts
            • Sport Yachts
            • Long Range Yachts
            • Others
          • Yacht Length
            • Up to 20 ft.
            • 20-50 ft
            • Above 50 ft.
          • Other 
      • Non-motorized Boats
        • Kayaks
        • Canoes
        • Others
    • Used Leisure Boat
      • Motorized/Power Boats
        • Personal Watercraft
        • Outboard Boats
        • Yachts
          • Yacht Type
            • Super Yachts
            • Flybridge Yachts
            • Sport Yachts
            • Long Range Yachts
            • Others
          • Yacht Length
            • Up to 20 ft.
            • 20-50 ft
            • Above 50 ft.
          • Other 
      • Non-motorized Boats
        • Kayaks
        • Canoes
        • Others
    • Monitoring Equipment
      • Boat and Yacht Monitoring Solutions
      • IoT Sensors
        • Water Detection Sensors
        • Voltage Meters
        • Temperature And Motion Sensors
        • Others
      • Telematics Solutions
      • Others

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Leisure Boat market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Leisure Boat market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Leisure Boat markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Leisure Boat Market Study:

  • Growth of Leisure Boat in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth