Leisure Boat Market Report

Leisure Boat Market Analysis Report By New Leisure Boat (Motorized, Non-Motorized), By Used Leisure Boat, By Equipment (Monitoring Equipment, IoT Sensors, Telematics Solutions), And Segment Forecasts, 2018 - 2025

  • Published Date: Jun, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-515-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 232

Industry Outlook

The global leisure boat market size was USD 36.60 billion in 2017. It is expected to expand at a CAGR of 4.3% from 2018 to 2025. The booming tourism sector and rising disposable income of citizens in emerging economies, such as Brazil and China, are some of the key trends in escalating market growth. Furthermore, growing participation of people in recreational and competitive boating activities across the globe is estimated to provide an upthrust to the market. Besides this, increasing advancements in technologies are projected to boost the growth of the market over the coming years.

China leisure boat market

The market consists of manufacturers, engine manufacturers, trade & service providers, and equipment manufacturers. The market is experiencing significant technological changes. The use of IoT and smart sensors in boat building is enhancing the safety of the product. Additionally, modifications in materials used for building the product are making boats affordable for consumers.

The market holds immense potential, owing to a combination of numerous factors such as increasing investments and research activities undertaken by prominent players of the industry to develop and upgrade products. Additionally, rising awareness of the benefits of adopting advanced technologies is further contributing to the growth of the market.

Recreational boating activities are gaining popularity among tourists owing to increasing number of boating events and trade shows taking place in different parts of the world. Marine and coastal tourism has emerged as a significant tourist attraction among citizens in developing countries, especially in the European and North American regions. Additionally, Asia Pacific countries such as China and Australia are witnessing new growth opportunities in the market.

Measures taken by governments of various countries for the development of marine tourism have worked in favor of the market. Initiatives such as increasing investments in the tourism industry, developing infrastructure, and changing regulations are poised to have a positive effect on the market over the coming years. Outboard boats and yachts are widely used by boaters for personal boating activities across the world and this trend is anticipated to continue over the forecast period.

New Leisure Boat Insights

The two types of new leisure boats reviewed in the report are motorized and non-motorized ones. Factors such as growing use of boats in water sports, increasing number of vessel manufacturers, easy financing options made available by manufacturers, and adoption of new technologies in manufacturing are working in favor of the overall market. New technologies such as smart sensors and connected devices are designed to make boating activities safer and more secure for boaters. Usage of yachts in touring events is also fueling the demand for the market over the forecast period.

The motorized segment is likely to hold the highest market share over the forecast period. The segment is further divided into personal watercraft, outboard, yachts, and others. The non-motorized segment is further categorized into kayaks, canoes, and others. The growth of the non-motorized segment is primarily driven by increasing usage of outboard vessels and yachts that are mainly used in recreational activities. Growing popularity of yachts and rising number of yachting events worldwide are contributing to the growth of the segment.

Used Leisure Boat Insights

High demand for used leisure boats can be attributed to ease of availability due to eliminated building and delivery time as well as lower prices as compared to new boats. This market is bifurcated into motorized and non-motorized. The non-motorized segment is anticipated to register a higher CAGR during the forecast period owing to factors such as increasing use of kayaks and canoes in adventure water sports and low prices of non-motorized boats. Furthermore, their easy availability is increasing the demand for non-motorized type. They are available in a variety of shapes and sizes, which increases their adoption among people of various age groups.

Equipment Insights

On the basis of monitoring equipment, the market is divided into yacht monitoring solutions, IoT sensors, telematics solutions, and others. Emergence of smart connected devices and IoT technologies is expected to rev up the adoption rate of monitoring equipment over the forecast period. Intelligent devices and IoT technologies make boating activities user-friendly and enhance the overall experience by automating some of the manual tasks.

Global leisure boat market

Use of wireless technology and smartphones allows a boater to track, monitor, and control the vessel effectively. Implementation of smartphone apps with IoT facilitate overall control through predictive maintenance, and emergency alerts and notifications. Increased connectivity further ensures safety of boaters over longer voyages.

Regional Insights

The European leisure boat market is expected to post the highest CAGR of 5.6% over the forecast period. Surging demand for recreational boats in various countries, including the U.K., France, Germany, Italy, and Spain, is estimated to propel the growth of the region. Increasing participation of people in recreational boating activities is also projected to bolster the growth of the regional market. Apart from this, rising recreational boating events and trade shows hosted by manufacturers is supplementing the growth of the market in Europe.

North America is poised to be the most prominent region in terms of revenue during the forecast period. Rising demand for recreational watercrafts is driven by factors such as improving economic conditions and rising disposable income of consumers. The U.S. is anticipated to witness high market growth over the forecast period. Demand in the country is majorly driven by factors such as increasing number of high net worth individuals and growing popularity of water sports and fishing activities.

Asia Pacific is anticipated to witness a significant growth rate over the forecast period owing to major steps taken by governments for the development of tourism activities. The China market is likely to exhibit the highest CAGR of 5.9% over the forecast period. The growth of the market in the country can be attributed to abundance of water resources such as vast coastline, inland lakes, and rivers. Moreover, measures taken by the government of China to promote yachting as a leisure activity are estimated to trigger the demand for recreational watercraft in the country.

Leisure Boat Market Share Insights

The market is characterized by high competition due to presence of a large number of companies. Increasing spending on R&D activities by major players is paving way for technologically superior products. There is also a rise in the number of boating events hosted by companies. As a result of these factors, the market is likely to witness increased competition.

Moreover, numerous unorganized players are also a part of the arena, such as traditional boat manufacturers, who are based in domestic markets and cater to local demand. North America and Europe are characterized by presence of a large number of manufacturers.

Key players operating in the market include Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; Farr Yacht Design, Ltd.; and Groupe Beneteau.

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Global level Shipment (Million Units) Global, regional and segmental Revenue in USD Billion and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country scope

U.S., Canada, Mexico, U.K., Germany, France, Italy, Sweden, China, India, Japan, South Korea, and Brazil

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments between 2014 and 2025. For the purpose of this study, Grand View Research has segmented the global leisure boat market report based on new, used, equipment, and region:

  • New Leisure Boat Outlook (Revenue, USD Billion, 2014 - 2025)

    • Motorized/power boats

      • Personal watercraft

      • Outboard boats

      • Yachts

        • Yacht Type

          • Superyachts

          • Flybridge yachts

          • Sport yachts

          • Long-range yachts

          • Others

        • Yacht Length

          • Up to 20 ft.

          • 20-50 ft

          • Above 50 ft.

      • Other

    • Non-motorized boats

      • Kayaks

      • Canoes

      • Others

  • Used Leisure Boat Outlook (Revenue, USD Billion, 2014 - 2025)

    • Motorized/power boats

      • Personal watercraft

      • Outboard boats

      • Yachts

        • Yacht Type

          • Superyachts

          • Flybridge yachts

          • Sport yachts

          • Long-range yachts

          • Others

        • Yacht Length

          • Up to 20 ft.

          • 20-50 ft

          • Above 50 ft.

      • Other

    • Non-motorized boats

      • Kayaks

      • Canoes

      • Others

  • Equipment Outlook (Revenue, USD Billion, 2014 - 2025)

    • Boat and yacht monitoring solutions

    • IoT sensors

      • Water detection sensors

      • Voltage meters

      • Temperature and motion sensors

      • Others

    • Telematics solutions

    • Others

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • The U.S.

      • Mexico

      • Canada

    • Europe

      • The U.K.

      • Germany

      • France

      • Italy

      • Sweden

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • South America

      • Brazil

    • Middle East and Africa (MEA)

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