Leisure Boat Market by Type, Equipment, Boat Size, Application

List of Tables

[185 Pages Report] The Leisure Boat Market size was estimated at USD 44.85 billion in 2023 and expected to reach USD 48.26 billion in 2024, at CAGR 8.13% to reach USD 77.53 billion by 2030.

A leisure boat, often called a recreational or pleasure boat, is a watercraft designed primarily for personal, recreational, or leisure activities. Leisure boats are used for various recreational activities on the water, such as cruising, fishing, watersports, relaxation, and socializing. Rising disposable incomes and higher living standards in industrialized nations drive more demand for recreational boating activities. Urbanization trends and an inclination towards spending on adventure activities contribute to a growing interest in aquatic recreational activities. Growing tourism industries further support the development of this market by promoting marine attractions such as yacht clubs and marinas. Despite its growth potential, several challenges affect the leisure boat industry's expansion prospects. High acquisition costs associated with owning a leisure boat can be a barrier to entry for many consumers who might resort to renting or chartering vessels instead.

Additionally, fluctuating fuel prices could deter potential buyers due to concerns about long-term operating expenses. Environmental concerns and stringent regulations also pose challenges regarding regulatory measures imposed on boat manufacturers to reduce emissions and limit noise pollution. Design and material science innovations make boats lighter and more fuel-efficient while enhancing their performance capabilities. Furthermore, digital transformation impacts areas such as navigation systems and IoT-enabled devices that improve safety measures while offering personalized experiences. Integrating advanced technologies in leisure boats is expected to create a significant market opportunity in the forecasted period.

Regional Insights

The Americas region encompasses a significant market presence led by government support, increasing disposable income levels, and significant investments in innovation that have been made to enhance boating experiences through advanced technology integration. Collaborative efforts among industry stakeholders have resulted in new business partnerships to expand market reach in this region. The APAC region represents a rapidly growing leisure boat market driven by economic development and rising tourism. China, Japan, South Korea, Australia, and India have key market players within this region. Supportive government regulations for marine transportation and leisure tourism are expected to create significant market opportunities in the region. Several collaborations have occurred between local companies and international brands for joint ventures aimed at technological advancements or expanding product offerings within APAC territories.

The EMEA region comprises a highly diversified leisure boat market due to several government standards, strong maritime traditions, and well-established boating infrastructure. Manufacturers operating in EMEA must remain cognizant of varying regulatory requirements across various countries, including environmental and safety standards. The European market has witnessed significant business expansions, with mergers and acquisitions occurring to strengthen market positions and capitalize on the growing demand for leisure boating experiences.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Leisure Boat Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising disposable income of citizens & flourishing tourism sector
Growing participation of people in recreational & competitive boating activities worldwide

Market Restraints

High pricing and maintenance of leisure boats

Market Opportunities

Integration of advanced technologies in leisure boats
Proliferating influence of boat shows and tournaments

Market Challenges

Safety issues associated with leisure boats

Market Segmentation Analysis

Type: Penetrating demand for motorized or power boats providing higher speed and efficiency
Equipment: Rising integration of IoT sensors to monitor environmental conditions and to analyze fuel consumption
Boat Size: Potential demand for <30 feet boat among recreational boaters for leisure activities
Application: Significant use of leisure boat in watersports activities

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Leisure Boat Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Leisure Boat Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Yamaha partners with Bray Marine Sales to power 'picnic' boat brand

Yamaha Motor Co., Ltd. has entered into a partnership with Bray Marine Sales to supply engines for the Picnic Boat Brand. As part of this collaboration, Yamaha intends to launch a new range of recreational outboard engines, with power options ranging from 5hp to 115hp. These engines have been meticulously designed to cater to the unique requirements of leisure vessels. This strategic alliance aims to meet the growing demand for leisure and tourism boats within the marine industry, ensuring customers can access reliable and high-performance engines. [Published On: 2023-08-11]

MarineMax Expands in the Midwest With the Addition of C&C Boat Works

MarineMax Inc. has recently expanded its reach into the Midwest by acquiring CC Boat Works. As a specialist in leisure boats, CC Boat Works offers a comprehensive range of services to cater to various needs. This acquisition bolsters MarineMax's presence in the area and enhances its ability to serve customers effectively. By incorporating CC Boat Works into its operations, MarineMax is further positioned to deliver exceptional service and meet the customers' demands in the region. [Published On: 2023-06-02]

Volvo Penta boosts watersport experience with new launches

Volvo Penta has recently introduced a new line of leisure boats specifically engineered to elevate water sport experiences. These boats are outfitted with state-of-the-art technologies and cutting-edge features, aiming to optimize performance, ensure safety, and promote sustainability. With a comprehensive range of inboard and sterndrive products, Volvo Penta guarantees enhanced propulsion efficiency, handling, and noise reduction, resulting in unparalleled comfort for all passengers on board. [Published On: 2023-02-15]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Leisure Boat Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Leisure Boat Market, highlighting leading vendors and their innovative profiles. These include AB Volvo, AIRE, Apache Powerboats, Axopar Boats Oy, Azimut Benetti S.p.A., Bavaria Yachtbau GmbH, Bertram Yachts LLC, Better Boats, Inc., Bombardier Recreational Products Inc., BPS Direct, L.L.C., Brisbane Boating & Leisure, Brunswick Corporation, Catalina Yachts, Chaparral Boats, Inc., Chris-Craft Boats, Farr Yacht Design Ltd., Ferretti S.p.A., Fleming Yachts, Fulcrum Speedworks, Grady-White Boats, Inc., Groupe Beneteau, Highwater Marine, LLC by Polaris Industries Inc., Iconic Marine Group, Lyman-Morse Boatbuilding, Inc., Malibu Boats, Inc., Marine Products Corporation, MarineMax, Inc., MasterCraft Boat Holdings, Inc., Raymarine by Teledyne FLIR LLC, Tige Boats, Inc., Viking Yacht Company, Winnebago Industries, Inc., X Shore AB, Yamaha Motor Co., Ltd., and Yanmar Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Leisure Boat Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type

Motorized or Power Boats
Non-Motorized Boats

Equipment

Boat & Yacht Monitoring Solutions
IoT Sensors
Telematics Solutions

Boat Size

30-50 Feet Boats
<30 Feet
>50 Feet Boats

Application

Cruising
Fishing
Watersports

Region

Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas

Asia-Pacific

Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa

Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Product Code: MRR-8C74ADFC04A3

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising disposable income of citizens & flourishing tourism sector
  - 5.1.1.2. Growing participation of people in recreational & competitive boating activities worldwide
- 5.1.2. Restraints
  - 5.1.2.1. High pricing and maintenance of leisure boats
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of advanced technologies in leisure boats
  - 5.1.3.2. Proliferating influence of boat shows and tournaments
- 5.1.4. Challenges
  - 5.1.4.1. Safety issues associated with leisure boats
5.2. Market Segmentation Analysis
- 5.2.1. Type: Penetrating demand for motorized or power boats providing higher speed and efficiency
- 5.2.2. Equipment: Rising integration of IoT sensors to monitor environmental conditions and to analyze fuel consumption
- 5.2.3. Boat Size: Potential demand for <30 feet boat among recreational boaters for leisure activities
- 5.2.4. Application: Significant use of leisure boat in watersports activities
5.3. Market Trend Analysis
- 5.3.1. Growing customer expenditures on recreational activities with advancing maritime tourism sector in the Americas
- 5.3.2. Supportive government initiatives and investments to support marine tourism in the Asia-Pacific
- 5.3.3. Government standards for ensuring safety and usability of leisure boats in the EMEA
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Leisure Boat Market, by Type

6.1. Introduction
6.2. Motorized or Power Boats
6.3. Non-Motorized Boats

7. Leisure Boat Market, by Equipment

7.1. Introduction
7.2. Boat & Yacht Monitoring Solutions
7.3. IoT Sensors
7.4. Telematics Solutions

8. Leisure Boat Market, by Boat Size

8.1. Introduction
8.2. 30-50 Feet Boats
8.3. <30 Feet
8.4. >50 Feet Boats

9. Leisure Boat Market, by Application

9.1. Introduction
9.2. Cruising
9.3. Fishing
9.4. Watersports

10. Americas Leisure Boat Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Leisure Boat Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Leisure Boat Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Yamaha partners with Bray Marine Sales to power 'picnic' boat brand
- 13.3.2. MarineMax Expands in the Midwest With the Addition of C&C Boat Works
- 13.3.3. Volvo Penta boosts watersport experience with new launches
- 13.3.4. Raymarine And Avikus Announce Exclusive Partnership
- 13.3.5. BRP Announces Construction Of A New Production Facility In Mexico Dedicated To Boat Manufacturing
- 13.3.6. SES-X Air-Cushioned Hull Taking Off With Electric Ferries, High Speed Leisure Boats
- 13.3.7. MarineMax Completes Acquisition of Boatzon, an Innovative Customer Experience Driven Retail Technology Platform for the Marine Industry
- 13.3.8. Brunswick Corporation Launches New Boat Brand Designed for Electrification and First-Time Boaters
- 13.3.9. BRP Completes The Acquisition Of The Shawinigan Operations Of Kongsberg Inc.
- 13.3.10. Massello Srl and Fratelli Canalicchio Acquired by Ferretti Group
- 13.3.11. NauticStar Purchased By Fountain Powerboats & Donzi Marine Group
- 13.3.12. Leisure boat collaborations for progressive innovation in hybrid and other technologies
- 13.3.13. Groupe Beneteau launches a partnership with Vision Marine Technologies to develop and market 100% electric outboard-equipped boats
- 13.3.14. Government of Canada announces funding to support safe boating during North American Safe Boating Awareness Week
- 13.3.15. Yanmar Invests USD 21M in GetMyBoat as Part of Series B Funding

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio