PUBLISHER: The Business Research Company | PRODUCT CODE: 1678308
PUBLISHER: The Business Research Company | PRODUCT CODE: 1678308
Recreational boating involves engaging in leisurely, enjoyable, and pleasurable activities while traveling on water in a boat. A recreational boat is defined as any vessel capable of active, self-propelled movement, primarily intended for activities such as enjoyment, fishing, or commercial purposes.
In the recreational boating market, the primary boat types are yachts, sailboats, personal watercraft, inflatables, and others. Yachts, a subset of recreational boating, are boats equipped with sails and, occasionally, an engine, often large and costly. Yachts serve purposes such as racing or leisurely travel. Engine placements vary, including outboards, inboards, and others, with construction materials such as aluminum, fiberglass, steel, and others. Boat sizes are categorized as up to 20 ft., 21 ft. to 35 ft., and 36 ft. to 50 ft., catering to activities such as cruising, water sports, and fishing.
The recreational boating market research report is one of a series of new reports from The Business Research Company that provides recreational boating market statistics, including recreational boating industry global market size, regional shares, competitors with a recreational boating market share, detailed recreational boating market segments, market trends and opportunities, and any further data you may need to thrive in the recreational boating industry. This recreational boating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The recreational boating market size has grown strongly in recent years. It will grow from $32.87 billion in 2024 to $35.28 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to economic growth and disposable income, boating tourism and leisure activities, popularity of waterfront properties, demographic changes and lifestyle preferences, environmental regulations and green practices.
The recreational boating market size is expected to see strong growth in the next few years. It will grow to $48.03 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to innovations in rental and sharing services, market expansion and globalization, safety and regulatory standards, demographic changes and lifestyle trends, rising interest in boating tourism. Major trends in the forecast period include electric propulsion technology, integration of smart technology, rise in water sports and activities, innovations in design and styling, wellness and comfort features.
The expanding tourism industry is expected to boost the growth of the recreational boating market. The tourism sector, often referred to as the travel industry, involves individuals traveling to different regions, either locally or globally, for leisure, social, or business purposes. It is closely linked to the hotel, hospitality, and transportation industries, primarily focused on ensuring visitors are happy, entertained, and well-equipped during their time away from home. For example, in July 2024, a report published by UN Tourism, a United Nations agency based in Spain, indicated that approximately 790 million tourists traveled internationally in the first seven months of 2024, representing about an 11% increase compared to 2023. Consequently, the growing tourism industry is driving the expansion of the recreational boating market.
The increasing count of registered recreational boats is set to propel the growth of the recreational boating market. These boats, designated for non-commercial and personal use, undergo formal registration with maritime authorities for identification, safety regulation, and adherence to navigation laws. The growing number of registered recreational boats signifies a rising interest in recreational boating, driven by a heightened enthusiasm for outdoor leisure activities, water-based sports, and recreational experiences. The convenience of formal registration for safety compliance and regulatory adherence further contributes to this trend. In 2022, the National Safe Boating Council reported a 1.6% increase in the registration of recreational vessels by states, reaching 11,770,383 boats. Hence, the upward trend in registered recreational boats is a significant factor propelling the growth of the recreational boating market.
New product development is a significant trend gaining traction in the recreational boating market. Companies are introducing new products to support this market, with product launches helping players expand their portfolios, attract new customers, and enhance their market presence. For example, in February 2024, Mercury Marine, a US-based marine propulsion company, unveiled Joystick Steering for Single-Engine Vessels. This innovative joystick steering system is uniquely designed for single-engine vessels powered by their Verado outboard engines, ranging from 250 to 600 horsepower. It features a straightforward, single-touchpoint user interface for throttle, shift, and steering, allowing for ergonomic one-handed operation. This product is part of Mercury's broader suite of joystick systems tailored for various vessel types, including those with sterndrives and multi-outboard configurations.
Major companies in the recreational boat market are adopting a strategic partnership approach to enhance their technological capabilities. Strategic collaboration refers to mutually beneficial partnerships between two or more independent entities working together to achieve shared goals that align with their individual strategic objectives. For instance, in September 2023, GOST (Global Ocean Security Technologies), a US-based marine security systems company, partnered with Boat Fix, a US-based recreational boating telematics company. This collaboration aims to enhance technological offerings within the marine industry. GOST will provide its current and future customers with the GOST 24/7 alarm, anti-theft, and customer support services, along with advanced monitoring, alarm management, and vessel recovery solutions for recreational boats.
In October 2024, Allied Strategic Partners, a US-based private asset management firm, acquired Prairie Creek Marina for an undisclosed amount. This acquisition aims to expand their operational capabilities and service offerings within the marine industry. The purchase aligns with Allied Strategic Partners' strategy to increase its presence in key markets and improve customer experiences across its facilities. This move is anticipated to strengthen their competitive advantage in the recreational boating market. Prairie Creek Marina is a US-based recreational facility located on Beaver Lake, east of Rogers, Arkansas.
Major companies operating in the recreational boating market include Lowe Boats, Yamaha Motor Co Ltd., Polaris Inc., Brunswick Corporation, Groupe Beneteau, Malibu Boats, Ferretti Group, Sea Ray, Mastercraft Boat Holdings Inc., Azimut Benetti Group, Marine Products Corporation, Nitro Boats, Hobie Cat Company Inc., Boston Whaler, Lund Boats, White River Marine Group, Grady-White Boats, Regal Boats, Ranger Boats, Sunseeker International Limited, Baja Marine, Correct Craft, Bayliner, Chaparral Boats, Pacific Asian Enterprises, Fairline, Bavaria Yachtbau, Albemarle Boats, Crestliner Boats, Tracker Boats
North America was the largest region in the recreational boating market in 2024. The regions covered in the recreational boating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the recreational boating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The recreational boating market includes revenues earned by entities by towboats, fishing boats, sailboats, cabin cruisers and pontoon boats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Recreational Boating Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on recreational boating market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for recreational boating ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The recreational boating market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.