Leisure Boat Market is Projected to Grow $55.27 Billion With CAGR of Above 4.1% by 2027 | Grand View Research, Inc.

December 08 11:08 2020
Leisure Boat Market is Projected to Grow $55.27 Billion With CAGR of Above 4.1% by 2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global leisure boat market size was valued at USD 39.75 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2020 to 2027.

The global leisure boat market size is expected to reach USD 55.27 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2020 to 2027. The increasing popularity of marine and coastal tourism, coupled with the growing inclination toward yachting as a recreational activity, is a primary factor driving the market. Although the ongoing Covid-19 pandemic has proved to be a major hindrance for the market, the gradual re-opening of the economies and upliftment of restrictions are paving the way to bring the market back on track. Besides, the growing urge among masses to involve in leisure activities in the post-lockdown period further presents bright opportunities for the market over the forecast period.

The tourism industry has changed drastically over the last few years with the increasing popularity of marine and coastal tourism activities. The world economy is witnessing healthy growth and markets, such as the U.S., are witnessing growth in the per-capita income of the individuals, which, in turn, has resulted in a rise in the disposable income of consumers. Moreover, there has been a rise in the number of High Net Worth Individuals (HNWIs), which is expected to drive consumers to spend more on leisure activities, thus boosting demand for recreational boats.

The increasing number of boat shows and water sporting events are attracting a large number of boaters worldwide. The leading manufacturers are sponsoring boat shows and events, which, in turn, is enhancing the popularity of leisure boats. North America is poised to remain the most prominent region in terms of revenue generation during the forecast period. The rising demand for recreational watercraft is driven by factors such as improving economic conditions and the rising disposable income of consumers in the region. The U.S. is anticipated to witness significant growth over the forecast period. Demand in the country is majorly driven by factors such as the increasing number of high net worth individuals and the growing popularity of water sports and fishing activities. 

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U.S. leisure boat market size, by type, 2016 - 2027 (USD Billion)

Measures taken by various governments to promote tourism activities in their countries are also boosting the market growth. Countries with rich natural resources, such as vast coastlines and large inland water bodies, are undertaking initiatives to promote recreational boating activities to increase their tourism business. Countries such as the U.S. have a vast coastline, a highly developed infrastructure, and a large population that participates in leisure boating activities, thus opening new growth opportunities for the market. Additionally, the French government is encouraging yacht manufacturers by providing them support in various forms, thus enabling them to invest in expanding their yacht maintenance and construction capacities.

Leisure Boat Market Report Highlights

  • Leisure boats are projected to witness a strong growth in demand owing to the initiatives taken by the governments worldwide for the development of coastal and marine tourism and the rising disposable income of citizens in emerging economies
  • Sports yachts are expected to witness greater demand in developed countries owing to the active participation of people in marine sporting events as well as recreational boating activities
  • Boat manufacturers are increasingly organizing boat shows worldwide to attract a greater number of potential boat buyers, and thereby expand their customer base
  • By type, the used leisure boat segment held the largest revenue share of over 76.0% in 2019 owing to the prompt and easy availability and relatively lower cost
  • North America held the largest revenue share of more than 46.0% in 2019 owing to the greater demand for recreational activities across the region, especially in the U.S.

Global leisure boat market share, by type, 2019 (%)

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Leisure Boat Market Segmentation

Grand View Research has segmented the global leisure boat market on the basis of type and region:

Leisure Boat Type Outlook (Revenue, USD Billion, 2016 – 2027)

  • New Leisure Boat
    • Motorized/Power Boats
      • Personal Watercraft
      • Outboard Boats
      • Yacht
        • o Yacht Type
          • Super Yacht
          • Flybridge Yacht
          • Sport Yacht
          • Long Range Yacht
          • Others
          • o Yacht Length
            • Up to 20 ft.
            • 20-50 ft
            • Above 50 ft.
        • Others
      • Non-motorized Boats
        • Kayaks
        • Canoes
        • Others
    • Used Leisure Boat
      • Motorized/Power Boats
        • Personal Watercraft
        • Outboard Boats
        • Yacht
          • o Yacht Type
            • Super Yacht
            • Flybridge Yacht
            • Sport Yacht
            • Long Range Yacht
            • Others
          • o Yacht Length
            • Up to 20 ft.
            • 20-50 ft
            • Above 50 ft.
        • Others
      • Non-motorized Boats
        • Kayaks
        • Canoes
        • Others
    • Monitoring Equipment
      • Boat and Yacht Monitoring Solutions
      • IoT Sensors
        • Water Detection Sensors
        • Voltage Meters
        • Temperature and Motion Sensors
        • Others
      • Telematics Solutions
      • Others

Leisure Boat Regional Outlook (Revenue, USD Billion, 2016 – 2027)

  • North America
    • U.S.
    • Mexico
    • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Sweden
      • Spain
    • Asia Pacific
      • India
      • China
      • Japan
      • Singapore
      • South Korea
    • South America
      • Brazil
    • Middle East and Africa (MEA)

 List of Key Players of Leisure Boat Market

  • Avon Marine
  • Azimut Benetti Group
  • Baja Marine
  • Bavaria Yachtbau GmbH
  • Bombardier Recreational Products (BRP) Inc.
  • Brunswick Corporation
  • Chaparral Boats, Inc.
  • Farr Yacht Design, Ltd.
  • Ferretti S.P.A.
  • Fountain Powerboats, Inc.

Key Topics Covered 

Table of Content

Chapter 1. Methodology and Scope
                  1.1. Market Segmentation & Scope
                  1.2. Market Definition
                  1.3. Information Procurement
                      1.3.1. Purchased Database
                      1.3.2. GVR’s Internal Database
                      1.3.3. Secondary Sources & Third-Party Perspectives
                      1.3.4. Primary Research
                  1.4. Information Analysis
                      1.4.1. Data Analysis Models
                  1.5. Market Formulation & Data Visualization
                  1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                  2.1. Market Outlook
                  2.2. Segmental Outlook
Chapter 3. Market Variable, Trends & Scope
                  3.1. Market Lineage Outlook
                      3.1.1. Parent Market Outlook
                      3.1.2. Related/ Ancillary Market Outlook
                  3.2. Leisure Boat Market Dynamics
                      3.2.1. Market Driver Analysis
                      3.2.2. Market Restraint Analysis

…. continue

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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