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DUBLIN, May 14, 2021 /PRNewswire/ -- The "Leisure Boat Market Size, Share & Trends Analysis Report by Type, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global leisure boat market size is expected to reach USD 57.92 billion by 2028, expanding at a CAGR of 4.5% from 2021 to 2028
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 eased 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. A rise in the number of High-Net-Worth Individuals (HNWIs) 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.Furthermore, there are changes taking place in boat building, such as the adoption of IoT technology that enables appliances, physical structures, vehicles, smartphones, wearable devices, and heavy equipment to be connected, while facilitating an exchange of information through a single network. The connected boat provides enhanced safety, security, and accuracy, while also improving the efficiency of the boat by digitalizing and optimizing various functions.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 buyers, and thereby expand their customer base.
By type, the used leisure boat segment held the largest revenue share of over 76.0% in 2020 owing to the prompt and easy availability and relatively lower cost.
North America held the largest revenue share of more than 45.5% in 2020 owing to the greater demand for recreational activities across the region, especially in the U.S..
Key players in the market include Avon Marine; Azimut Benetti Group; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Ferretti S.P.A.; and Fountain Powerboats, Inc..
Key Topics Covered: Chapter 1. Methodology and ScopeChapter 2. Executive SummaryChapter 3. Market Variable, Trends & Scope3.1. Market Lineage Outlook3.1.1. Parent Market Outlook3.1.2. Related/ Ancillary Market Outlook3.2. Leisure Boat Market Dynamics3.2.1. Market Driver Analysis3.2.2. Market Restraint Analysis3.2.3. Market Opportunity Analysis3.3. Penetration & Growth Prospect Mapping3.4. Leisure Boat Market Industry Analysis - Value Chain3.5. Leisure Boat Market Industry Analysis - Porter's3.6. Leisure Boat Market Industry Analysis - PESTChapter 4. Leisure Boat Market: Type Outlook4.1. Leisure Boat Market: Type Analysis4.1.1. New Leisure Boat220.127.116.11. Motorized18.104.22.168.1. Personal Watercraft22.214.171.124.2. Outboard Boats126.96.36.199.3. Yacht188.8.131.52.3.1. Yacht Type184.108.40.206.3.1.1. Super Yacht220.127.116.11.3.1.2. Flybridge Yacht18.104.22.168.3.1.3. Sport Yacht22.214.171.124.3.1.4. Long Range Yacht126.96.36.199.3.1.5. Others188.8.131.52.3.2. Yacht Length184.108.40.206.3.2.1. Up to 20ft.220.127.116.11.3.2.2. 20 to 50 ft.18.104.22.168.3.2.3. Above 50 ft.22.214.171.124.4. Others126.96.36.199. Non-Motorized188.8.131.52.1. Kayaks184.108.40.206.2. Canoes220.127.116.11.3. Others4.1.2. Used Leisure Boat18.104.22.168. Motorized22.214.171.124.1. Personal Watercraft126.96.36.199.2. Outboard Boats188.8.131.52.3. Yacht184.108.40.206.3.1. Yacht Type220.127.116.11.3.1.1. Super Yacht18.104.22.168.3.1.2. Flybridge Yacht22.214.171.124.3.1.3. Sport Yacht126.96.36.199.3.1.4. Long Range Yacht188.8.131.52.3.1.5. Others184.108.40.206.3.2. Yacht Length220.127.116.11.3.2.1. Up to 20ft.18.104.22.168.3.2.2. 20 to 50 ft.22.214.171.124.3.2.3. Above 50 ft.126.96.36.199.4. Others188.8.131.52. Non-Motorized184.108.40.206.1. Kayaks220.127.116.11.2. Canoes18.104.22.168.3. Others4.1.3. Monitoring Equipment22.214.171.124. Boat and Yacht Monitoring Solutions126.96.36.199. IoT Sensors188.8.131.52.1. Water Detection Sensors184.108.40.206.2. Voltage Meters220.127.116.11.3. Temperature and Motion Sensors18.104.22.168.4. Others22.214.171.124. Telematics Solutions126.96.36.199. OthersChapter 5. Leisure Boat Market: Regional Outlook5.1. Leisure Boat Market Share By Region, 2020 & 20285.2. North America5.2.1. U.S.5.2.2. Canada5.2.3. Mexico5.3. Europe5.3.1. U.K.5.3.2. Germany5.3.3. France5.3.4. Italy5.3.5. Sweden5.3.6. Spain5.4. Asia Pacific5.4.1. China5.4.2. India5.4.3. Japan5.4.4. Singapore5.4.5. South Korea5.5. South America5.5.1. Brazil5.6. Middle East & AfricaChapter 6. Competitive Analysis6.1. Recent Developments & Impact Analysis, by Key Market Participants6.2. Company/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)6.3. Vendor Landscape6.3.1. Key Company Analysis, 20196.4. Company Analysis6.4.1. Company Market Position Analysis6.4.2. Competitive Dashboard AnalysisChapter 7. Competitive Landscape7.1. Company overview7.2. Financial Performance7.3. Product benchmarking7.4. Recent developments
Azimut Benetti Group
Bavaria Yachtbau GmbH
Bombardier Recreational Products (BRP) Inc.
Chaparral Boats, Inc.
Farr Yacht Design, Ltd
Fountain Powerboats, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nezc
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