Recreational Boat Market Forecasts to 2030 – Global Analysis By Product Type (Yachts, Sailboats, Personal Watercrafts, Outboard Boats, Inboard and Stern drive Boats, Rigid Inflatable Boats and Other Product Types), Boat Size (<30 Feet, 30-50 Feet, >50 Fee

Recreational Boat Market Forecasts to 2030 – Global Analysis By Product Type (Yachts, Sailboats, Personal Watercrafts, Outboard Boats, Inboard and Stern drive Boats, Rigid Inflatable Boats and Other Product Types), Boat Size (<30 Feet, 30-50 Feet, >50 Feet and Other Boat Sizes), Engine Placement (Outboards, Inboards and Other Engine Placements), Engine Type (Ice, Electric and Other Engine Types), Power Range, Material Type, Power Source, Distribution Channel, Application and By GeographyAccording to Stratistics MRC, the Global Recreational Boat Market is accounted for $18.9 billion in 2023 and is expected to reach $33.45 billion by 2030 growing at a CAGR of 8.5% during the forecast period. Recreational boating is the act of floating around on the water at a leisurely pace. On outings with family and friends, many people use this for enjoyable activities. Boat racing, sailing, campaigning, fishing, and other water sports like kayaking, sports fishing, and others are all included in recreational boating. Moreover, runabouts, towboats, fishing boats, sailboats, pontoon boats, sterndrive powerboats, jet boats, personal watercraft, propulsion systems, and cabin cruisers are just a few of the recreational boat types that are used for the activities.

According to the US Bureau of Economic Analysis (BEA), around 100 million Americans go boating each year. Outdoor recreation makes up 2.1% of country’s GDP, generating USD 788 billion in real gross output.

Market Dynamics:

Driver:

Increasing travel and tourism

The tourism sector worldwide is still growing, with a focus on coastal and waterfront locations. Moreover, travelers looking for unusual encounters and adventures, which frequently involve recreational boating, are drawn to these picturesque locations. In addition to increasing the demand for recreational boats, the popularity of water-based activities like sailing, yachting, and watersports encourages the establishment of rental services and boat charter businesses. The growth of international tourism fuels demand for recreational boats. Adventurers are drawn to coastal locations, which promote sailing, yachting, and watersports and increase rentals and charters.

Restraint:

Weather and natural disasters occurrence

Unpredictable weather conditions, such as hurricanes, storms, and floods, put boaters at risk and may force the closure of marinas and waterways for an extended period of time. The availability of boats and boating facilities may be impacted by the need for extensive repairs and restoration following a natural disaster. Furthermore, extended periods of extreme weather, such as protracted wet spells or intense heat waves, can deter people from participating in boating activities, which lower the demand for recreational boats.

Opportunity:

Increasing interest in boating staycations

Boat rental and charter companies have the chance to appeal to travelers looking for quick getaways and local adventures by offering boating staycations. Businesses in the boating industry can promote weekend boating trips, day cruises, and waterside picnics as more people choose staycations over long-distance travel. Moreover, in order to further increase the appeal of boating staycations, partnerships with regional tourism bureaus and lodging establishments can be used to develop alluring packages that incorporate boating activities with nearby attractions.

Threat:

Rigid emission standards

Boat engine producers face a challenge adhering to these stringent pollution standards because they will have to update their technology and use cleaner engine alternatives. Moreover, the temporary removal of pollution standards by the US government in 2022, which led to a significant rise in demand for recreational boating during that time, is an example of how these regulations have affected the recreational boat market. Worldwide demand for recreational boats is significantly constrained by pollution standards and regulations.

Covid-19 Impact:

The global boating and recreational industries have all been severely impacted by the COVID-19 pandemic. Due to strict lockdowns implemented in several of these nations during the first and second quarters of 2020, the adoption of recreational boats was low globally. Boat and engine production had temporarily been halted by businesses to stop the virus's spread. Consumers spent their money on necessities like food, medicine, and groceries rather than on leisure and recreational pursuits, which resulted in significant losses for companies in the boating industry.

The Outboard boat segment is expected to be the largest during the forecast period

The Outboard boat segment is expected to have the largest market share in the recreational boat market during the forecast period. Outboard boats, also referred to as outboard motorboats, are distinguished by their propulsion system, which is mounted on the outside of the boat, usually at the stern. These boats are popular choices for a variety of recreational activities, including fishing, water sports, and day cruising, because of their versatile usage, simplicity of maintenance, and ability to navigate in shallow waters. Moreover, Outboard boats continue to dominate the recreational boat market thanks to their broad appeal and large customer base, accounting for a sizeable portion of boat sales and revenue globally.

The electric segment is expected to have the highest CAGR during the forecast period

During the forecast period, the electric segment is anticipated to have the highest CAGR. Due to the lack of a combustion system and a silent rotating motor, electric motors are quieter than diesel and gas engines. Additionally, these amenities enhance the boating experience by enabling passengers to converse quietly. And, these engines provide advantages for environmental safety and emit very little exhaust emissions. Compared to diesel engines, electric motors are more flexible and can operate at higher speeds because they are lighter and take up less room.

Region with largest share:

In the market for recreational boats, North America is anticipated to hold the largest share. Many things contribute to the region's dominance, including a vibrant boating culture, a sizable number of navigable waterways, and high levels of disposable income. A large number of enthusiasts participate in different recreational activities like fishing, water skiing, and cruising, which demonstrate how deeply ingrained boating is in North American culture. Furthermore, the abundance of lakes, rivers, and coastal regions offers plenty of opportunities for boating, further increasing the demand for recreational boats. A significant portion of the population can invest in recreational boating thanks to the region's strong economy and relatively high levels of disposable income, which helps explain why North America holds the top spot in the world market for recreational boats.

Region with highest CAGR:

During the forecast period, the recreational boat market is anticipated to have the highest CAGR in the Asia-Pacific region. The region's quick economic development, rising urbanization, and rising middle-class population have all played a significant role in the expansion of the boating sector. There is a rising interest in leisure and recreational activities, including boating, as more people in nations like China, India, and Southeast Asian nations experience rising disposable incomes. Moreover, The growth of the recreational boating market in the Asia-Pacific region is further aided by the development of marinas, waterfront infrastructure, and boat clubs.

Key players in the market

Some of the key players in Recreational Boat market include Mahindra Odyssea, Azimut Benetti Group, White River Marine Group, LLC, Bennington Marine LLC, Bryton Marine Group, Sportsman Boats Manufacturing Inc, Brunswick Corporation, Royal Caribbean Cruises Ltd., Mastercraft Boat Holdings, Inc, Pacific Asian Enterprises, Grady-White Boats, Inc., Bombardier Recreational Products, Vision Marine Technologies, Ferretti Group, Porter, Inc., Groupe Beneteau, Sunseeker International Limited, Yamaha Motors Co. Ltd., Grand Banks Yachts Ltd. and Malibu Boats, Inc.

Key Developments:

In April 2023, Ferretti Group launched Custom Line 106' hull 14. The Custom Line 106 Ft, a Ferretti Group Engineering Department design, is the entry-level model for the brand's planning line. The yacht has interior spaces with a 2-meter-high ceiling, large windows, and over 200 square meters of interconnected outdoor spaces.

In January 2023, Brunswick Corporation has announced the launching of an all-electric marine outboard in 2023. The Avator 7.5e will be the first in a full line of electric outboard motors from Mercury Marine, a division of Brunswick Corporation.

In September 2022, Groupe Beneteau launched 15 new models across its four brands in the day boating segment. The models include Jeanneau Cap Camarat 10.5 Cc, Jeanneau Merry Fisher 1295, Jeanneau Db/43, Four Winns Th36, Wellcraft 355, and Prestige M48.

In August 2022, Yamaha unveiled a brand-new 22 Ft platform which replaces the versatile 21 Ft center console line. There are three new 22-foot FSH models in total, and they all feature the top center console technology.

Product Types Covered:
• Yachts
• Sailboats
• Personal Watercrafts
• Outboard Boats
• Inboard and Stern drive Boats
• Rigid Inflatable Boats
• Other Product Types

Boat Sizes Covered:
• <30 Feet
• 30-50 Feet
• >50 Feet
• Other Boat Sizes

Engine Placements Covered:
• Outboards
• Inboards
• Other Engine Placements

Engine Types Covered:
• Ice
• Electric
• Other Engine Types

Power Ranges Covered:
• Up to 100 kW
• 100-200 kW
• Above 200 kW
• Other Power Ranges

Material Types Covered:
• Aluminum
• Fiberglass
• Wood
• Inflatable
• Steel
• Other Material Types

Power Sources Covered:
• Engine Powered
• Sail Powered
• Human Powered
• Other Power Sources

Distribution Channels Covered:
• Dealer Network
• Boat Shows
• Online Sales
• Other Distribution Channels

Applications Covered:
• Commercial
• Fishing
• Water Sports
• Cruising
• Transportation
• Travel and Tourism
• Defense
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements