Leisure Boat Market size to grow by USD 22,154.06 million from 2022 to 2027, North America to account for 58% of market growth – Technavio

NEW YORK, April 21, 2023 /PRNewswire/ — The leisure boat market size is expected to grow by USD 22,154.06 million from 2022 to 2027, progressing at a CAGR of 5.66% as per the latest Technavio market research report. North America is estimated to account for 58% of the market’s overall growth. Individual boaters in the region prefer recreational boating instead of owning a boat. This changing preference has led to increased customer engagement with marina and charter services, thus driving the demand for recreational boating in North America. Recent innovations, such as the introduction of remote controls and digital dashboards on recreational boats, are also key factors contributing to market growth. The US and Canada are the most important recreational boating markets in North America. The US is the largest single market for pleasure crafts, accounting for nearly two-thirds of total sales generated in North America. Factors such as the country’s economic growth over the past decade, rising consumer confidence, and technological innovation by boat manufacturers have driven the US market. For more insights on the market share of various regions along with other key market parameters – Download a sample report

Leisure Boat Market: Driver

• One of the key factors fueling the leisure boat market growth is increasing customer engagement in marinas and recreational boating activities. 
• The largest recreational boating markets are the US and Europe. The US recreational boating industry has grown steadily over the past decade. US-operated marina and charter services are a large part of this growth.
• This is due to the high cost of owning and maintaining recreational boats. Middle- to low-income US customers are more likely to choose a boat experience over owning a boat. 
• The demand for excursion boats is increasing in marinas in Europe and the US due to several factors. For example, the growing shift of consumers to marinas to ship leisure goods is a key factor driving growth. 

Leisure Boat Market: Trend

• The increasing population of high-net-worth individuals (HNWIs) is a key trend in the market. 
• The cost of owning a pleasure boat or excursion boat is very high. Most of these luxury boats are purchased by wealthy individuals.
• As a result, the expansion of the market is highly dependent on the HNWI population around the world.
• Recreational boating is becoming one of the most popular leisure activities among consumers worldwide. 

Leisure Boat Market: Challenge

• The high total cost of ownership of recreational boats will pose a major challenge for the recreational boat market during the forecast period. 
• Owning a pleasure boat is a luxury. Average recreational boat prices have continued to rise since 2020.
• Average retail sales prices increased by approximately 5% during this period. Rising average retail prices are also having a significant impact on recreational boat sales.
• For example, in the US, sales of recreational boats decreased by approximately 0.32% over this period. 

To know about more key drivers, upcoming trends along with several market challenges – Download a sample PDF now!

Some of the key Leisure Boat Market Players:

The leisure boat market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Azimut Benetti SpA, Baja Marine, BPS Direct LLC, Bavaria Yachtbau GmbH, Bombardier Recreational Products Inc., Brunswick Corp., Carnival Corp. and Plc, Catalina Yachts, Correct Craft Holding Co. LLC, Dalian Wanda Group, Groupe Beneteau, Iconic Marine Group, Mahindra and Mahindra Ltd., Malibu Boats Inc., Marine Products Corp., MasterCraft Boat Holdings Inc., Polaris Inc., Volvo Car Corp., WeiChai Holding Group Co. Ltd., and Yamaha Corp.

Leisure Boat Market: Segmentation Analysis

This leisure boat market report extensively covers market segmentation by product (leisure boat accessories, leisure boat motors, and leisure boat building), propulsion (diesel, gas, hybrid, and sail drive), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market growth by the leisure boat accessories segment will be significant for the market growth during the forecast period. This segment is expected to be driven by increasing consumer engagement in recreational activities such as fishing and sailing. The US is the most important market for recreational boating accessories, followed by Europe. By 2021, approximately 1 million recreational crafts will be registered in Australia. Stand Up Paddle Boards (SUP) and sailing dinghies are the top leisure boat categories in Australia. In addition, sailing dinghy clothing plays an important role. Therefore, the demand for accessories such as seat covers, traction mats, dry bags, and cases will increase. All these factors will boost the global leisure boat market during the forecast period. 

For additional information on the market contribution of each segment – Grab an Exclusive Sample Report

Related Reports:

The aluminum fishing boat market size is expected to increase by USD 551.85 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.04%. Furthermore, this report extensively covers market segmentation by type (bass boat, multi-species, and deep-V boat) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Recreational fishing gaining traction is one of the key drivers fueling the aluminum fishing boat market growth.

The pleasure boat paint market size is estimated to grow at a CAGR of 4.3% between 2022 and 2027. The market size is forecasted to increase by USD 253.14 million. This report extensively covers market segmentation by application (refurbished boat and new boat), type (natural polyisoprene and synthetic polyisoprene), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The growing tourism industry is notably driving market growth.

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Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Propulsion
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global leisure boat market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global leisure boat market 2017 – 2021 ($ million)

• 4.2 Product Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)

• 4.3 Propulsion Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Propulsion Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product – Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Leisure boat accessories – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Leisure boat accessories – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Leisure boat accessories – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Leisure boat accessories – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Leisure boat accessories – Year-over-year growth 2022-2027 (%)

• 6.4 Leisure boat motors – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Leisure boat motors – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Leisure boat motors – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Leisure boat motors – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Leisure boat motors – Year-over-year growth 2022-2027 (%)

• 6.5 Leisure boat building – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Leisure boat building – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Leisure boat building – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Leisure boat building – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Leisure boat building – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ million)
• Exhibit 47: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Propulsion

• 7.1 Market segments
• Exhibit 48: Chart on Propulsion – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Propulsion – Market share 2022-2027 (%)

• 7.2 Comparison by Propulsion 
• Exhibit 50: Chart on Comparison by Propulsion
• Exhibit 51: Data Table on Comparison by Propulsion

• 7.3 Diesel – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Diesel – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Diesel – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Diesel – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Diesel – Year-over-year growth 2022-2027 (%)

• 7.4 Gas – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Gas – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Gas – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Gas – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Gas – Year-over-year growth 2022-2027 (%)

• 7.5 Hybrid – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Hybrid – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Hybrid – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Hybrid – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Hybrid – Year-over-year growth 2022-2027 (%)

• 7.6 Sail drive – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Sail drive – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Sail drive – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Sail drive – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Sail drive – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Propulsion 
• Exhibit 68: Market opportunity by Propulsion ($ million)
• Exhibit 69: Data Table on Market opportunity by Propulsion ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Italy – Market size and forecast 2022-2027 
• Exhibit 99: Chart on Italy – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Italy – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Italy – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Italy – Year-over-year growth 2022-2027 (%)

• 9.10 Canada – Market size and forecast 2022-2027 
• Exhibit 103: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027 
• Exhibit 107: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 France – Market size and forecast 2022-2027 
• Exhibit 111: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Azimut Benetti SpA
• Exhibit 123: Azimut Benetti SpA – Overview
• Exhibit 124: Azimut Benetti SpA – Product / Service
• Exhibit 125: Azimut Benetti SpA – Key offerings

• 12.4 Bavaria Yachtbau GmbH 
• Exhibit 126: Bavaria Yachtbau GmbH – Overview
• Exhibit 127: Bavaria Yachtbau GmbH – Product / Service
• Exhibit 128: Bavaria Yachtbau GmbH – Key offerings

• 12.5 Bombardier Recreational Products Inc. 
• Exhibit 129: Bombardier Recreational Products Inc. – Overview
• Exhibit 130: Bombardier Recreational Products Inc. – Business segments
• Exhibit 131: Bombardier Recreational Products Inc. – Key offerings
• Exhibit 132: Bombardier Recreational Products Inc. – Segment focus

• 12.6 Brunswick Corp.
• Exhibit 133: Brunswick Corp. – Overview
• Exhibit 134: Brunswick Corp. – Business segments
• Exhibit 135: Brunswick Corp. – Key offerings
• Exhibit 136: Brunswick Corp. – Segment focus

• 12.7 Carnival Corp. and Plc 
• Exhibit 137: Carnival Corp. and Plc – Overview
• Exhibit 138: Carnival Corp. and Plc – Business segments
• Exhibit 139: Carnival Corp. and Plc – Key offerings
• Exhibit 140: Carnival Corp. and Plc – Segment focus

• 12.8 Correct Craft Holding Co. LLC 
• Exhibit 141: Correct Craft Holding Co. LLC – Overview
• Exhibit 142: Correct Craft Holding Co. LLC – Product / Service
• Exhibit 143: Correct Craft Holding Co. LLC – Key news
• Exhibit 144: Correct Craft Holding Co. LLC – Key offerings

• 12.9 Groupe Beneteau
• Exhibit 145: Groupe Beneteau – Overview
• Exhibit 146: Groupe Beneteau – Business segments
• Exhibit 147: Groupe Beneteau – Key offerings
• Exhibit 148: Groupe Beneteau – Segment focus

• 12.10 Iconic Marine Group
• Exhibit 149: Iconic Marine Group – Overview
• Exhibit 150: Iconic Marine Group – Product / Service
• Exhibit 151: Iconic Marine Group – Key offerings

• 12.11 Mahindra and Mahindra Ltd. 
• Exhibit 152: Mahindra and Mahindra Ltd. – Overview
• Exhibit 153: Mahindra and Mahindra Ltd. – Business segments
• Exhibit 154: Mahindra and Mahindra Ltd. – Key news
• Exhibit 155: Mahindra and Mahindra Ltd. – Key offerings
• Exhibit 156: Mahindra and Mahindra Ltd. – Segment focus

• 12.12 Malibu Boats Inc.
• Exhibit 157: Malibu Boats Inc. – Overview
• Exhibit 158: Malibu Boats Inc. – Business segments
• Exhibit 159: Malibu Boats Inc. – Key offerings
• Exhibit 160: Malibu Boats Inc. – Segment focus

• 12.13 Marine Products Corp. 
• Exhibit 161: Marine Products Corp. – Overview
• Exhibit 162: Marine Products Corp. – Product / Service
• Exhibit 163: Marine Products Corp. – Key offerings

• 12.14 MasterCraft Boat Holdings Inc. 
• Exhibit 164: MasterCraft Boat Holdings Inc. – Overview
• Exhibit 165: MasterCraft Boat Holdings Inc. – Business segments
• Exhibit 166: MasterCraft Boat Holdings Inc. – Key offerings
• Exhibit 167: MasterCraft Boat Holdings Inc. – Segment focus

• 12.15 Volvo Car Corp.
• Exhibit 168: Volvo Car Corp. – Overview
• Exhibit 169: Volvo Car Corp. – Product / Service
• Exhibit 170: Volvo Car Corp. – Key offerings

• 12.16 WeiChai Holding Group Co. Ltd. 
• Exhibit 171: WeiChai Holding Group Co. Ltd. – Overview
• Exhibit 172: WeiChai Holding Group Co. Ltd. – Product / Service
• Exhibit 173: WeiChai Holding Group Co. Ltd. – Key offerings

• 12.17 Yamaha Corp.
• Exhibit 174: Yamaha Corp. – Overview
• Exhibit 175: Yamaha Corp. – Business segments
• Exhibit 176: Yamaha Corp. – Key offerings
• Exhibit 177: Yamaha Corp. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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