The global leisure boat market is expected to exhibit moderate growth during 2021-2026. A leisure boat is a recreational marine vessel primarily used for pleasure and tourism. Some of the commonly available motorized and non-motorized leisure boats include sailboats, runabouts, towboats, cabin cruisers, jet boats and watercraft. They are often used for activities, such as boating, sailing, campaigning and fishing. The boat consists of luxurious and spacious cabins manufactured using premium-quality wood, plastic, aluminum and coated fabrics, accommodation amenities and advanced propulsion systems. The contemporary leisure boat variants are also equipped with advanced engines, controls and Internet of Things (IoT)-enabled connected devices and equipment to provide enhanced comfort and convenience to the consumer.
Significant growth in the marine and coastal tourism industry, along with increasing consumer spending on recreational activities, is one of the key factors creating a positive outlook for the market. The emerging trend of owning vacation homes and accommodations near water bodies has enhanced the consumer’s interest in recreational boating activities. Leisure boats are also equipped with digital dashboards, joystick controls and digital throttles to track, monitor and control the boats effectively. Additionally, various product innovations, such as the development of leisure boats integrated with advanced smart sensors, artificial intelligence (AI), IoT and machine learning (ML) systems, are acting as other growth-inducing factors. Boat manufacturers are also using hybrid propulsion systems, global positioning systems (GPS), automatic control and smart connect devices in leisure boats to improve boat safety and security. Other factors, including rising expenditure capacities of the consumers, along with the utilization of more durable boating building materials in personalized leisure boats, are anticipated to drive the market further. Looking forward, IMARC Group expects the global leisure boat market to grow at a CAGR of around 4% during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global leisure boat market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region and type.
Breakup by Type:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Azimut Benetti S.p.A, Baja Marine, Bavaria Yachtbau GmbH, BRP Inc., Brunswick Corporation, Chaparral Boats Inc. (Marine Products Corporation), Farr Yacht Design Ltd., Ferretti S.P.A. (Shandong Heavy Industry Group Co. Ltd.), Fountain Powerboats Inc. (Baja Marine Inc.), Mastercraft Boat Holdings Inc. and Yamaha Motor Co. Ltd.
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