Leisure Boats Market Size By Product (Bowrider, Catamaran, Cruiser, Pontoon, Yacht, Sailboat), By Type (Motorized, Non-Motorized), By Propulsion System (Diesel, Gasoline, Electric/ Hybrid, Sail Drive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Leisure Boats Market size exceeded USD 33 billion in 2019 and is expected to grow at a CAGR of over 4% between 2020 and 2026. Market trends display a high growth potential for leisure boats due to the rising inclination of consumers toward spending leisure time with friends and family in pleasure boating activities. Manufacturers in the leisure boating industry are focusing on mergers & acquisitions to enhance their market share in the coming years.
 

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Increasing consumer participation in marine recreational activities is providing new market opportunities. Significant increase in the number of boat clubs and memberships is likely to boost leisure boat sales through 2026. In December 2020, Freedom Boat Club, a part of Brunswick Corporation, announced the opening of its 250^th location in the U.S. The club has more than 36,500 memberships across the country and has reported a 61% increase in new member registrations in the industry since 2018. The growing demand for boats from these clubs will propel the leisure boats market revenue.
 

The factors hampering the industry growth include high maintenance and ownership costs associated with leisure boats. These boats are operational for long hours in water, contributing toward rising cost of maintenance due to constant wear and tear of critical components such as the engine and hull. Additionally, end-users have to bear a heavy tax and insurance cost while purchasing a new boat, hindering the market representation of leisure boats. However, the emergence of boat charter services and clubs will assist in improving the market statistics.
 

The global market witnessed a temporary slowdown during the first two quarters of 2020 owing to the rapid spread of the COVID-19 pandemic. Stringent measures undertaken for the containment of Coronavirus impacted the industry ecosystem of leisure boats on a large scale. Market factors, such as shortage of raw materials and labor, led to several difficulties in design and development of new boats, creating a huge gap in demand and supply. Boat manufacturers are focusing on catering to the order backlog to maintain a consistent stream of revenues.
 

High demand for comfortable cruiser boats in leisure boating activities

The cruiser segment is anticipated to witness an upward trend during the forecast timeline driven by enhanced comfort for day/night cruising. The North America cruiser segment is projected to expand at 2.5% CAGR through 2026. Several features of cruiser boats, such as spacious cabin and integration of advanced entertainment devices, are contributing to their growing representation in the market.
 

Key leisure boats market players are focusing on design and development of new cruiser boats to increase their portfolio and gain a competitive edge in the industry. For instance, in October 2019, Yamaha Motor Corporation launched its new 275SD cruiser model. The model is equipped with several advanced features such as articulating keel system, electronic power steering (EPS), three-position no wake mode control, fuel management system, and boat wellness function display. High investments by industry players in launching of new products will contribute toward the market revenues.
 

Growing adoption of motorized boats for reducing operational time

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The motorized segment in Europe accounted for above 85% of the leisure boats market share in 2019. High demand for leisure boats in the travel & tourism sector in Europe and Asia Pacific is driving the market trend. According to World Travel and Tourism Council, India was ranked 10th amongst 185 countries in the travel & tourism industry’s total input to GDP in 2019. Increasing usage of motorized leisure boats for day/night cruising and planning activities is contributing to the growing market demand for motorized leisure boats.
 

Enhanced speed & acceleration provided by motorboats compared to sail boats is the major market factor supporting the adoption of these leisure boats. Engine manufacturers, such as Mercury Marine and Volvo Penta, provide technologically advanced inboard and outboard engines for motorized leisure boats, further increasing the market revenues.
 

Enhanced adoption of diesel boats is fueling the leisure boats market

The diesel segment in North America valued at USD 11 billion in 2019. The significant representation of diesel leisure boats is attributed to the high torque and fuel efficiency offered by diesel engines. Diesel fuel accommodates more energy per gallon compared to gasoline, which makes it more economical and easily affordable. Abundant availability of diesel outboard engines for leisure boats will drive the market.
 

Growing participation in recreational activitiesin North America

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The North America leisure boats market surpassed around USD 13 billion in 2019 and is estimated to witness growth of more than 3.5% from 2020 to 2026. Rapidly increasing recreational and leisure activities in the region are fueling the regional market growth. Increasing water sports activities and fishing tournaments are generating lucrative growth opportunities for the market. An increasing shift in pattern of boat usage from long holidays to short day trips and weekends is also contributing to the growing demand for leisure boats in the U.S. and Canada.
 

High focus of government authorities on supporting local manufacturing of leisure boats is improving the regional market statistics. According to a report by the National Marine Manufacturer’s Association in 2019, about 95% of boats sold in the U.S. were locally manufactured. The market is driven by a strong presence of boat manufacturers including Brunswick Corporation, Malibu Boats, and Grady-White Boats.
 

Players focusing on new product launches to enhance the market share

Manufacturers in the leisure boats industry are primarily focusing on adopting strategies, such as product portfolio expansion, strategic partnerships, and alliances, to enhance their market share. For instance, in July 2020, Bavaria Yachtbau GmbH launched its new cruiser boat, Bavaria Vida 33. This is the company’s first day cruiser, which is equipped with an outboard engine. Similarly, in July 2020, Azimut Group launched a new yacht model under the Magellano collection.

The prominent players in this leisure boats market include Malibu Boats Inc., Azimut Yachts, Marine Products Corporation, Brunswick Corporation, MasterCraft, Bavaria Yachtbau GmbH, Ferretti S.p.A., and Bénéteau Group.
 

This market research report on leisure boats includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2020 to 2026 for the following segments:

Market, By Product:

• Bowrider
• Catamaran
• Cruiser
• Pontoon
• Yacht
• Sailboat
• Others

Market, By Type:

• Motorized Boats
• Non-Motorized Boats

Market, By Propulsion System:

• Diesel
• Gas
• Electric / Hybrid
• Sail Drive

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
  • Norway
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa