Leisure Boat
Leisure Boat Market by Type (Motorized or Power Boats, Non-Motorized Boats), Equipment (Boat & Yacht Monitoring Solutions, IoT Sensors, Telematics Solutions), Boat Size, Application - Global Forecast 2024-2030
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[180 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 a CAGR 8.13% to reach USD 77.53 billion by 2030.

Leisure Boat Market
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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 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

    Motorized boats are normally of various types, from small runabouts to mega yachts, with various hull shapes, construction materials, and propulsion systems. These boats consist of an engine or motor for propulsion instead of needing to harness the wind for a sailboat. Thus, motorized boats are always faster than sailboats with better capabilities than traditional engines at lower fuel costs due to advancements in marine electric technology. The maintenance of the charging unit is also easier as electric motors have fewer moving parts that last longer on average. Tourists tend to spend more on motorized boat rides and other similar water activities despite their high ticket prices due to the comfort and safety these boats offer. On the other hand, the non-motorized boat is expected to grow due to the increasing use of kayaks and canoes in adventurous water sports. The low prices of tickets and recreational sports associated with non-motorized boats are fuelling the usage of non-motorized boats, and their easy availability is increasing the demand for these boats. These boats are available in various shapes and sizes, increasing their adoption among people of different ages and income groups. Areas listed for non-motorized boating allow carry-down access to the lakes or campgrounds with boat ramps suitable for launching trailered boats.

  • Equipment: Rising integration of IoT sensors to monitor environmental conditions and to analyze fuel consumption

    A boat & yacht monitoring solution, ranging from a simple global positioning system (GPS) tracker to advanced boat monitoring and controlling, ensures boat protection. These systems may communicate via satellite or cellular services; however, they are limited to monitoring the boat's location and displaying it on Google Maps or in a similar format. Several boat & yacht monitoring systems contain additional functions, including an alert mode that can alert pre-designated recipients regarding the position, speed, and direction of a person's travel on a boat. One crucial feature that makes IoT technology a dominating segment in the market is the safety and security benefits associated with deploying IoT sensors. The emergence of these IoT sensors in the recreational marine industry has enabled boat owners to be remotely aware of battery levels, possible leaks or water entering the boat through water detectors and bilge alarms, possible intrusions, and smoke alarms. Moreover, telematics solutions for leisure boats are designed to link suppliers, dealers, customers, and manufacturers to their boats over a cellular connection from anywhere in the world. The platform includes custom-branded customer apps for end consumers to access helpful information about their boating experience, which enables dealers to provide levels of proactive service that are not otherwise achievable.

  • Boat Size: Potential demand for <30 feet boat among recreational boaters for leisure activities

    The shape and size of the boats play a vital role in assisting designers in planning the seating arrangements and other facilities according to the requirements. The most common recreational boats are usually between 30 feet and 50 feet, which are appropriate and suitable for long trips and appropriate for all weather conditions. Leisure boats less than 30 feet cannot handle weather and waves; therefore, they are most commonly used for recreational activities such as fishing and other regular boat rides. The boats of more than 50 feet give users an experience of a big ship bridge and offer accommodations to suit extended stays on the water. Boats below 30 feet prominently fall under the runabouts category, also known as bowriders, since they are designed for a few people to ride in the boat's bow (forward of the driver). They are the most popular recreational boat as they can easily be transported from one body of water to another. Moreover, cruisers are becoming popular in the recreational marine industry, which range in size from about 30-50 feet and even more than 50 feet that provide accommodations.

  • Application: Significant use of leisure boat in watersports activities

    Cruising boats can be used for transport and provide sheltered accommodations for at least two people. Cruising is an activity that involves living for an extended time on a boat while traveling from place to place for pleasure. Cruising refers to a few or more day trips extending to round-the-world voyages. For inshore fishing, fishers mostly use catamarans & bay boats to navigate through the shallows, and their higher freeboard allows them to withstand choppier waters than a flats boat. At the same time, kayaks are used for fishing in rivers, flats, and backwaters. Groups of anglers can easily transport and maneuver through the narrow & shallow waterways due to the relatively small size of the kayaks. Leisure boats used for watersports are inflatable, which are cost-effective and offer high performance & reliability in high water flow. Inflatable boats are lightweight and high-capacity boats constructed with a rigid hull bottom joined to side-forming air tubes inflated with air to high pressure. Inflatable leisure boats are also used in rescue operations during natural calamities and inshore or offshore accidents.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Leisure Boat Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Leisure Boat Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Leisure Boat Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Leisure Boat Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Leisure Boat Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Leisure Boat Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Leisure Boat Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Leisure Boat Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Leisure Boat Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Leisure Boat Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

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..

Leisure Boat Market - Global Forecast 2024-2030
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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

This research report offers invaluable insights into various crucial aspects of the Leisure Boat Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Leisure Boat Market, by Type
  7. Leisure Boat Market, by Equipment
  8. Leisure Boat Market, by Boat Size
  9. Leisure Boat Market, by Application
  10. Americas Leisure Boat Market
  11. Asia-Pacific Leisure Boat Market
  12. Europe, Middle East & Africa Leisure Boat Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 374]
  17. List of Companies Mentioned [Total: 35]
Leisure boating industry’s metamorphosis of becoming a treasured sport
April 27, 2023
INSIGHT
Leisure boating industry’s metamorphosis of becoming a treasured sport
Every great boat comes with its own remarkable story about how it met you, how it was made, or the way it is transforming. Recreational boating has come a long way since the 1600s, and the industry stakeholders are all up for it!

The pandemic saw a shooting rise in recreational anglers visiting their favorite fishing haunts worldwide seeking fresh air amid the social distancing norms.

According to the Japan Craft Inspection Organization, boat club memberships in Japan reached a high of 4,800 in 2020, and while sales of new boats dipped a little in 2020 due to shortages of vessels, the used boat segment saw sales expand ~7% to ~95,000.

Recreational vessel records in the United States were also at a peak in the year 2020, with 11,838,188 registrations. Picnic boats, waterskiing boats, and pontoon boats have been eye-catching purchases for every personal & commercial boat enthusiast.

Today, European waters have at least 6 million boats, with 36 million regular boaters and more than 6,000 inland and coastal marinas. In the fast-changing environment pushing towards sustainability, evolving consumer trends, and digitalization, the world is just beginning to explore the potential of the leisure boating industry.

The new age of 2021 welcomed ultimate vessels for on-the-water relaxation and recreation, with manufacturers adding smart, creative features and dynamic designs to pursue every type of water lover.

In 2021, pontoon boats remained over 20% of total marine units registered that year in the U.S., surpassing other units in the powerboat segment.

Leisure times can be inhabited with the happiness of adventure and a cool adrenaline rush if you decide to paddle your way into a quiet riverside community with these boats. It's never too late to decide your ride, your happy boat!

Explore the Growing World of Recreational and Competitive Boating
December 13, 2023
BLOG
Explore the Growing World of Recreational and Competitive Boating
The waves of water are calling out to all of us. There is nothing more soothing and liberating than being on a recreational boat and enjoying the vast expanses of water. The world of recreational and competitive boating is growing at an exponential rate, offering incredible experiences and adventures for the ones who take it up. Boating is no longer just a privileged hobby, as people all over the globe are flocking to water for leisure activities. This blog explores the scope of leisure boats and the growing participation of people in recreational and competitive boating activities worldwide.

The worldwide participation of people in recreational boating activities has been on the rise for many years. Boating is a favorite leisure activity for people of all ages, and it provides a unique option to spend quality time with close ones, explore new waterscapes, or indulge in watersports. In recent years, the growing interest and awareness of water sports have led to a rise in competitive boating activities worldwide. From cruising rallies, regattas, and fishing tournaments to powerboat racing, sailing races, and wakeboarding championships, competitive boating events offer new levels of adventure and thrill amongst boating enthusiasts.

Apart from providing a significant economic boost to the global market, leisure boats contribute much more. Boating is an eco-friendly recreational activity that impacts the environment to a much lesser extent than other outdoor recreation activities. It also helps promote physical fitness and mental wellness and builds teamwork skills. Boating offers a unique gateway to education and environmental awareness for all ages, making it one of the most engaging and healthy outdoor activities to pursue.

The global scale of leisure boats and the ever-increasing popularity of boating activities are not just a result of its economic benefit. Its broad scope reflects the nature-loving, adventure-seeking, and fun-craving world today. Boating provides a way to experience the therapeutic and stimulating effects of nature while fostering a sense of adventure and community. With various activities that cater to all kinds of interests, recreational and competitive boating is gaining momentum worldwide and inviting more people to explore the beauty of water bodies.

Frequently Asked Questions
  1. How big is the Leisure Boat Market?
    Ans. The Global Leisure Boat Market size was estimated at USD 44.85 billion in 2023 and expected to reach USD 48.26 billion in 2024.
  2. What is the Leisure Boat Market growth?
    Ans. The Global Leisure Boat Market to grow USD 77.53 billion by 2030, at a CAGR of 8.13%
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