Leisure Boat Market Size & Segmentation By Type (New Leisure Boat, Used Leisured Boat), By Product (Motorized, Non-Motorized), By Region And Forecast 2023-2030

AUSTIN, TEXAS, UNITED STATES, January 23, 2024 /EINPresswire.com/ -- The Leisure Boat Market is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030, from its estimated valuation of USD 41.05 billion in 2022 to USD 62.48 billion by that time, The technological advancement in pleasure boats and the rising interest are the key factors for the market.  

Factors such as rising disposable incomes, a burgeoning interest in water-based tourism, and advancements in boat manufacturing technologies contribute to the sector's robust growth. Additionally, the appeal of leisure boating extends beyond traditional maritime enthusiasts, drawing in a broader audience eager to embrace the serenity and adventure that boating offers.

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Key Companies:

• Avion Marine
• Azimut Benetti Group
• Baja Marine
• Bavaria Yachtbau GmbH
• Chaparral Boats
• Ferretti
• Fountain Powerboats

Market Scope:  

Leisure boats have witnessed a remarkable surge in recent years, propelled by an increasing affinity for recreational activities on water. With a growing global population seeking avenues for leisure and relaxation, the demand for leisure boats has expanded across various demographics. From compact runabouts to luxurious yachts, the market caters to diverse preferences, making it a dynamic and versatile industry.

Opportunity Analysis:

The demand for leisure boats has experienced a significant upswing as individuals increasingly seek recreational experiences on the water. This surge in interest opens avenues for market players to capitalize on unique features and experiences that set their products apart. From advanced propulsion systems to state-of-the-art navigation and entertainment options, the Leisure Boat market has the chance to redefine the concept of leisure on the water. Embracing this opportunity entails a commitment to authenticity, quality, and customer-centric design, steering clear of generic content and prioritizing genuine advancements that enhance the overall boating experience.    

Segment Analysis:

Based on propulsion, the market divides into motorized and non-motorized segments. Motorized boats, further classified into personal watercraft, outboard boats, yachts, and others, account for a significant share due to their versatility in water sports and cruising activities. Meanwhile, non-motorized boats, comprising kayaks, canoes, and sailboats, are gaining traction among eco-conscious consumers seeking a quieter and more sustainable boating experience. This segmentation highlights the diverse preferences and needs within the leisure boat market, allowing manufacturers and retailers to tailor their offerings to specific consumer profiles.

By Type

• New Leisure Boat
• Used Leisured Boat

By Product

• Motorized
• Non-Motorized

Regional Analysis:

The United States and Canada continue to dominate the market, driven by a combination of factors such as rising disposable income, a strong culture of recreational boating, and an increasing interest in outdoor activities. In recent years, there has been a noticeable shift towards eco-friendly and sustainable boating options, with a growing demand for electric and hybrid leisure boats. Furthermore, the market has witnessed a surge in technological advancements, including advanced navigation systems, smart connectivity features, and innovative materials for enhanced durability. the North American Leisure Boat market remains robust, characterized by a diverse range of products catering to the evolving demands of consumers across different states and provinces.

Key Takeaways:

• The integration of advanced technology is playing a pivotal role, with a focus on enhancing safety features, navigation systems, and on-board entertainment
• Notable rise in the popularity of smaller, more maneuverable boats is indicative of a shift towards convenience and ease of use. Overall, the leisure boat market is evolving in response to changing consumer preferences, incorporating a harmonious blend of sustainability, technology, customization, and practicality.

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Recent Industry Development:  

• Brunswick Corporation: Brunswick Corporation has acquired Mercury Marine, a leading manufacturer of outboard motors, and Freedom Boat Group, a manufacturer of pontoon boats. These acquisitions will strengthen Brunswick's position in the leisure boat market.
• Volvo Penta: Volvo Penta has launched a new range of electric propulsion systems for boats, including the Volvo Penta IPS 800 Series and the Volvo Penta Electric Sail Drive. These new systems are designed to offer boaters a more sustainable and enjoyable boating experience.

Table of Content:

1. Introduction

1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis

4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Leisure Boat Segmentation, by Type

8.1 Used Leisured Boat
8.2 New Leisure Boat

9. Leisure Boat Segmentation, by Product

9.1 Motorized
9.2 Non-Motorized

10. Regional Analysis

Continued…!

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