Leisure Boats Market Size - By Product (Bowrider, Catamaran, Cruiser, Pontoon, Yacht, Sailboat), By Type (Motorized, Non-Motorized), By Propulsion System (Diesel, Gasoline, Electric/ Hybrid, Sail Drive) & Forecast 2023 - 2032

Leisure Boats Market Size

Leisure Boats Market was valued at USD 41.1 billion in 2022 and is set to grow at 7.5% CAGR from 2023 to 2032. Advances in boat design, materials, and technology play a significant role in attracting consumers to the leisure boats. Features such as improved fuel efficiency, advanced navigation systems, entertainment options, and eco-friendly designs can influence consumer preferences and drive sales.
 

Economic growth and consumer confidence will significantly contribute to the leisure boats industry revenue through 2032. Economic growth and increasing consumer confidence often lead to higher disposable incomes, enabling individuals to spend on luxury items such as leisure boats. In September, personal income saw a rise of USD 77.8 billion, marking a 0.3 percent increase on a monthly basis, as per the latest estimates from the Bureau of Economic Analysis. Disposable personal income (DPI) experienced a growth of USD 56.1 billion, also reflecting a 0.3 percent increase. When people feel financially secure, they are more likely to invest in recreational activities, including boating, which will favor the adoption of leisure boats.

Increasing environmental concerns and stricter regulations related to emissions and water pollution can pose challenges for the leisure boats market. Compliance with environmental standards may require additional investments in technology and design, potentially increasing the overall cost of leisure boats. Moreover, restrictive regulations in certain regions or bodies of water can limit the accessibility and usage of leisure boats.
 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the leisure boats industry, causing disruptions in production, supply chains, and consumer demand. Lockdowns and economic uncertainties led to a decline in consumer spending on non-essential items, including recreational boats. Manufacturing and distribution faced challenges due to restrictions, affecting the industry's overall productivity. Boat shows and events were canceled or postponed, limiting promotional opportunities. Despite a surge in outdoor activities, the initial economic fallout and restrictions took a toll on the leisure boats industry, requiring adaptability and resilience from industry players.
 

Leisure Boats Market Trends

Electrification and sustainable boating will render a favorable impact on the leisure boats business. There is a growing emphasis on sustainability in the boating industry, with an increasing interest in electric and hybrid propulsion systems. As environmental concerns rise, consumers may favor leisure boats that offer eco-friendly alternatives to traditional fuel-powered engines, promoting a cleaner and more sustainable boating experience.
 

Leisure Boats Market Analysis

Based on type, the motorized boats segment accounted for a market share of over 85% in 2022. The popularity of motorized leisure boats is driven by the desire for adventure, relaxation, and socializing on the water. Boating offers a unique escape, allowing individuals to explore diverse waterways and coastal areas. The convenience of motorized boats enhances accessibility, enabling enthusiasts to enjoy water activities without extensive physical effort. Moreover, advancements in boat design, technology, and amenities contribute to the appeal, offering a comfortable and entertaining experience that caters to a broad spectrum of recreational interests.
 

Based on product, the yacht segment held a market share of around 35% in 2022. Yachts are experiencing high demand due to their versatility and comfort, making them popular choices for recreational boating. Yacht offer spacious and stable platforms ideal for socializing, fishing, and water sports. With numerous seating options, entertainment features, and amenities like grills and loungers, they provide a luxurious and enjoyable experience on the water. Additionally, advancements in design and technology, including eco-friendly and fuel-efficient models, contribute to the growing appeal of yacht among those seeking a relaxed and user-friendly boating experience.
 

North America led the global yacht market with a share of over 35% in 2022. North America leisure boats market will drive lucrative gains throughout 2023 to 2032. Increasing disposable incomes, a robust economy, and a growing interest in outdoor recreational activities contribute to heightened demand for leisure boats. The diverse waterways, lakes, and coastal regions across North America provide ample opportunities for boating enthusiasts. Additionally, innovations in boat design, technology, and eco-friendly features attract a broader market, making leisure boating an appealing and accessible lifestyle choice for individuals and families across the continent.
 

Leisure Boats Market Share

Major players operating in the leisure boats industry are:

• Azimut-Benetti
• Bavaria Yachtbau GmbH
• Brunswick Corporation
• Ferretti S.P.A
• Forest River, Inc
• Fountaine Pajot SA
• Groupe Beneteau
• Hallberg-Rassy
• HanseYatchs AG
• Legend Boats, Ltd
• Lürssen
• Malibu Boats, Inc
• Marine Products Corporation
• MasterCraft Boat Company, Inc
• Porter, Inc (Formula Boats)
• Riviera Australia Pty. Ltd
• Sanlorenzo Spa
• White River Marine Group
• Yamaha Motor Corporation

Sanlorenzo Spa and Lürssen is major market player in yacht market, holding over 10% of the market share. Sanlorenzo has a reputation for innovative yacht design and a commitment to creating unique and customized yachts. To continue its growth, the company focuses on developing designs and incorporating advanced technologies into its yachts. Lürssen is known for building the largest and luxury superyachts in the world. To maintain its position, the company continue to focus on constructing high-end, custom-built vessels that cater to ultra-high-net-worth individuals.
 

Leisure Boats Industry News

• In June 2023, the shipyard introduced Sparta superyacht. Winch Design handled both exterior & interior styling, featuring a sleek exterior profile with a distinctive "Venetian red" and metallic grey hull.
   

This leisure boats market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and shipment (Units) from 2018 to 2032, for the following segments:

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Market, By Product

• Bowrider
• Catamaran
• Cruiser
• Pontoon
• Yacht
• Sailboat
• Others

Market, By Type

• Motorized Boats 
• Non-Motorized Boats

Market, By Propulsion System

• Diesel
• Gas
• Electric/Hybrid
• Sail Drive

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
  • Norway
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • UAE
  • South Africa