Leisure Boat Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR46622
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The leisure boat market size has the potential to grow by USD 30.01 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 8.46%. 

This report provides a detailed analysis of the market by product (leisure boat accessories, leisure boat motors, and leisure boat building) and geography (APAC, Europe, MEA, North America, and South America). 

Leisure Boat Market Size

Leisure-Boat-Market-Size

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Who are the Major Leisure Boat Market Vendors?

The leisure boat market analysis report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • AB Volvo
  • Azimut Benetti SpA
  • Bavaria Yachtbau GmbH
  • BENETEAU SA
  • Bombardier Recreational Products Inc.
  • Brunswick Corp.
  • Chaparral Boats Inc.
  • FERRETTI SpA
  • Iconic Marine Group
  • Yamaha Motor Co. Ltd.

 

The leisure boat market is fragmented and the vendors are deploying growth strategies such as product extensions, technological innovations, and strategic M&A to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increasing customer engagement in marinas and recreational boating activities to achieve growth opportunities. However, factors such as the high total cost of ownership of leisure boats will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the leisure boat market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

What are the Key Leisure Boat Market Drivers and Trends?

  • Increasing customer engagement in marinas and recreational boating activities is one of the key factors that will drive the leisure boat market growth in the coming years.
  • With the growth of the recreational boating industry in the US and Europe, the demand for leisure boats is expected to increase during the next few years.
  • Additionally, customers are increasingly shifting from the concept of boat ownership to boating experiences as owning and maintaining leisure boats is quite expensive. This will have a positive impact on the sales of leisure boats in the next few years.
  • Initiatives by government and organizations for promoting leisure boating in emerging countries is one of the key trends expected to gain traction in the market.
  • Efforts from the Government of India towards the development of coastal and marine tourism and the Middle East Yacht Conference that was aimed at the collaboration between GCC countries for promoting and facilitating yacht visits and charter opportunities in the region are some of the government initiatives contributing towards driving recreational boating activities. 

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Which are the Key Markets for Leisure Boat?

Leisure-Boat-Market-Share-by-Region

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59% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for leisure boats in North America. Market growth in this region will be faster than the growth of the market in Europe.

Recent technological innovations such as the adoption of remote controls and digital dashboards in leisure boats will facilitate the leisure boat market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

What are the Major Product Segments in the Leisure Boat Market?

Leisure-Boat-Market-Share-by-Product

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Leisure boat accessories account for the largest leisure boat market share in the product segment. The leisure boat accessories segment includes the revenue generated from the sales of leisure boat accessories such as remote controls, GPS systems, digital throttles, digital dashboards, fishing equipment, marine batteries, safety equipment, special apparel, seating, and storage parts. The demand for accessories such as seat covers, traction mats, dry bags, and cases will increase with the growth of personal watercraft (PWC) sales. The demand for leisure boat accessories will also be fueled by the growth of new boats and used boat sales.

An in-depth scenario-based approach was followed in this leisure boat market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the influence of COVID-19 on leisure boat market segments.

 

Leisure Boat Market Report

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Key Highlights of the Leisure Boat Market Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive leisure boat market growth during the next five years
  • Precise estimation of the leisure boat market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the leisure boat industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of leisure boat market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The leisure boat market growth will increase by $30.01 billion during 2020-2025.
The leisure boat market is expected to grow at a CAGR of 8.46% during 2020-2025.
Technavio has segmented the leisure boat market by product (Leisure boat accessories, Leisure boat motors, and Leisure boat building) and geographic (North America, Europe, APAC, South America, and MEA).
AB Volvo, Azimut Benetti SpA, Bavaria Yachtbau GmbH, BENETEAU SA, Bombardier Recreational Products Inc., Brunswick Corp., Chaparral Boats Inc., FERRETTI SpA, Iconic Marine Group, Yamaha Motor Co. Ltd. are a few of the key vendors in the leisure boat market.
North America will register the highest growth rate of 59.01% among the other regions. Therefore, the leisure boat market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the leisure boat market growth are:
  • Increasing customer engagement in marinas and recreational boating activities
The leisure boat market vendors should focus on grabbing business opportunities from the leisure boat accessories segment as it accounted for the largest market share in the base year.
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