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Leisure Boats Market Size

Report ID: GMI4557
Published Date: Nov 2023
Report Format: PDF

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Leisure Boats Market Size

Leisure Boats Market was valued at USD 41.1 billion in 2022 and is set to grow at 7.5% CAGR from 2023 to 2032. Advances in boat design, materials, and technology play a significant role in attracting consumers to the leisure boats. Features such as improved fuel efficiency, advanced navigation systems, entertainment options, and eco-friendly designs can influence consumer preferences and drive sales.

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Economic growth and consumer confidence will significantly contribute to the leisure boats industry revenue through 2032. Economic growth and increasing consumer confidence often lead to higher disposable incomes, enabling individuals to spend on luxury items such as leisure boats. In September, personal income saw a rise of USD 77.8 billion, marking a 0.3 percent increase on a monthly basis, as per the latest estimates from the Bureau of Economic Analysis. Disposable personal income (DPI) experienced a growth of USD 56.1 billion, also reflecting a 0.3 percent increase. When people feel financially secure, they are more likely to invest in recreational activities, including boating, which will favor the adoption of leisure boats.

Leisure Boats Market Report Attributes
Report Attribute	Details
Base Year:	2022
Leisure Boats Market Size in 2022:	USD 41.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7.5%
2032 Value Projection:	USD 82.7 Billion
Historical Data for:	2018 to 2022
No. of Pages:	250
Tables, Charts & Figures:	408
Segments covered:	Product, Type, Propulsion System
Growth Drivers:	Integration of advanced technologies in pleasure boats Proliferation of boat clubs in North America Increasing participation in pleasure boating activities in Europe Growing tourism sector Asia Pacific Rapid development of boating industry in Latin America and MEA
Pitfalls & Challenges:	Increasing number of accidents High initial investments in leisure boats

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Increasing environmental concerns and stricter regulations related to emissions and water pollution can pose challenges for the leisure boats market. Compliance with environmental standards may require additional investments in technology and design, potentially increasing the overall cost of leisure boats. Moreover, restrictive regulations in certain regions or bodies of water can limit the accessibility and usage of leisure boats.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of leisure boats was valued at USD 41.1 billion in 2022 and is estimated to register 7.5% CAGR between 2023 and 2032, as advances in boat design, materials, and technology play a significant role in driving consumer demand.

The yacht segment held a market share of around 35% in 2022 and will grow significantly through 2032, due to their versatility and comfort, making them popular choice for recreational boating.

North America leisure boats market will witness lucrative gains throughout 2032, due to increasing disposable incomes, a robust economy, and a growing interest of people in outdoor recreational activities.

Azimut-Benetti, Bavaria Yachtbau GmbH, Brunswick Corporation, Ferretti S.P.A., Forest River, Inc., Fountaine Pajot SA, Groupe Beneteau, Hallberg-Rassy, HanseYatchs AG, Legend Boats, Ltd, Lürssen, Malibu Boats, Inc., Marine Products Corporation, MasterCraft Boat Company, Inc., and Porter, Inc (Formula Boats).