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) & Forecast 2023 - 2032

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) & Forecast 2023 - 2032

The global leisure boats market is expected to record a 7.5% CAGR during 2023-2032 driven by technological advancements, rising disposable incomes, and a growing affinity for leisure activities.

According to a report by UNCTAD in 2023, in addition to embracing cleaner fuels, the maritime industry must accelerate its adoption of digital solutions, such as AI and blockchain, to enhance both efficiency and sustainability. The increasing adoption of advanced technologies, such as GPS navigation systems, advanced safety features, and smart connectivity, is enhancing the overall boating experience. Consumers are showing a preference for boats equipped with cutting-edge technology, contributing to a surge in demand for modernized vessels.

The global leisure boats market is classified based on product, type, propulsion system and region.

The non-motorized type of segment is anticipated to expand at a steady pace during 2023-2032 driven by environmental consciousness, accessibility and affordability. Kayaks, canoes, and sailboats, among others, are witnessing a surge in popularity as individuals seek a closer connection with nature and a more serene boating experience. Moreover, the segment is gaining traction not only among enthusiasts looking for a quieter journey but also among environmentally conscious consumers seeking eco-friendly alternatives.

The cruiser boats segment is anticipated to expand at a steady rate through 2032 owing to their comfort, luxury, and extended stay capabilities. The demand for cruisers is being fueled by a desire for extended vacations on the water, whether for recreational purposes or as a lifestyle choice. The development of spacious and feature-rich cruiser boats that offer a home-away-from-home experience, along with the focus among manufacturers on incorporating advanced amenities, including spacious cabins, entertainment systems, and kitchen facilities, will add to its prominence.

Asia Pacific leisure boats market is poised for sustained growth during the forecast period driven by rapid economic development, increasing urbanization, and a growing middle class with a penchant for recreational activities. Countries like China, Japan, and Australia are witnessing a surge in boating enthusiasts, creating a robust market for various types of leisure boats.