Sailboat Market Size, Share & Trends Analysis Report By Hull Type (Monohull, Multi-hull), Length (Up to 20 ft., 20-50 ft., Above 50 ft.), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global sailboat market size was valued at USD 5.84 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 2.4% from 2021 to 2028. The growth can be attributed to continuous research and development initiatives and a rise in the number of virtual trade shows. Companies are focused on the development of innovative, new yachts developed using ultra-modern production techniques and materials. The latest innovations and technological advancements made on the boats and boat engines help in increasing the demand for sailboats and help market players to maintain their market positions. The COVID-19 pandemic has contributed to digitalization in the industry. The prospects of virtual shows and live-streaming in near future are anticipated to create growth opportunities for the market.

The COVID-19 pandemic significantly impacted the sailboat industry in the Americas and Europe and slowed down the production of sailboats across the world. This resulted due to the crisis measures taken by countries, which left some employees unavailable to complete existing orders, and in part to the delay in deliveries of parts needed for production. The cancellation of several boat shows, events, and competitions led to a decline in the sales of sailboats in Q1 and Q2 of 2020. The decline affected both consumer spending and exports. On the other hand, operational and production costs were adversely affected by disruptions in the delivery of parts from foreign countries to manufacturing sites and employee absences due to lockdowns and social distancing.

The pandemic has prompted digitalization initiatives in the market. Most boat shows across the world have been canceled and customers are attending virtual trade shows as an alternative. In the long term, such events are much cheaper to operate than real trade shows; moreover, purchase decisions no longer have to await certain trade shows, which can be expected to result in a better distribution of orders in the coming years. For instance, in February 2021, the Virtual Vancouver International Boat Show had 14,103 registrations. The virtual show featured highly interactive and innovative virtual showrooms with vast video content, product listings, chat room capabilities, and live-streaming.

Factors such as military conflicts in the Middle East, the U.K.’s departure from the European Union, loss of the value of the Turkish lira, and trade protectionism in the U.S. could create uncertainties regarding future economic relations between countries. This could affect unit sales as dealers find it difficult to provide security for down payments to companies exporting boats in these countries.

Hull Type Insights

The monohull segment dominated the sailboat market in 2020 and accounted for a 56.0% share of the global revenue. The segment is expected to register a steady growth rate over the forecast period. Monohulls are the most common designs for sailboats and are like conventional vessels that have a large breadth to provide stability while sailing.

Monohull sailboats are experiencing a significant increase in demand due to the increasing disposable incomes of customers and growing demand for leisure activities such as yachting and sailing. Furthermore, the increasing number of water sporting events and boat shows are drawing a large number of boaters. Major market players are sponsoring boat events and shows, which has increased the popularity of monohull sailboats. 

The multi-hull segment is expected to expand at a CAGR of 2.6% over the forecast period. The popularity of multi-hull sailboats is growing as they offer a combination of onboard living space, speed, safety, and performance. New age catamarans and trimarans have very sharp bows and narrower hulls below the waterline, which helps them glide through and run over the waves with ease. As a result, a variety of foiling catamarans and sailing catamarans have been used in national and international sailing competitions. The performance of multihulls can be affected due to unbalanced and improper load placement, causing fuel wastage and loss of efficiency. To avoid fuel wastage and develop low emission boats, Fountaine Pajot collaborated with EODev’s to integrate hydrogen energy solutions on its catamarans.

Length Insights

The 20-50 ft. segment dominated the market in 2020 and accounted for more than 54.0% share of the global revenue. The segment is expected to expand at a CAGR of 2.4% over the forecast period. Cruising catamarans, cruising sailboats, motorsailers, and racer-cruiser racing sailboats are some of the common types of sailboats that come in the 20-50 ft. category. Some of the most popular 20-50 ft. sailboats are Beneteau 57, Oyster 56, Bavaria 42, Beneteau Oceanis 473.

The up to 20 ft. segment is expected to register a CAGR of 2.7% over the forecast period. The sailboats used for daytime sailing for a short period are usually up to 20 ft. long. The most common sailboats in this category include sailing dinghies, beach catamarans, and daysailers. Some of the most popular sailboats under this category are CATALINA 16.5, Laser, Hobie 16 beach catamaran, Hunter 15, and Super Snark.

Regional Insights

North America dominated the global market in 2020 with a revenue share of over 36%. This can be attributed to the high popularity of marine activities, such as cruising, sailing, and boating, in the U.S. The rising popularity of these activities in the country is expected to drive the market over the forecast period.

Europe is expected to emerge as the fastest-growing regional market over the forecast period. European boat builders are focusing on offering innovative products according to the latest trends. Countries that have a long coastal line attract several international tourists every year. Companies are expanding their product portfolios by launching new boats in the market. For instance, in August 2019, Bavaria Yachts announced the launch of two sailing yachts C45 and C50 at the Yachting Festival in Cannes, France. Furthermore, the rising number of trade shows and events hosted by manufacturers and boating clubs in the region are boosting the growth prospects of the market in Europe.

Key Companies & Market Share Insights

The market features a highly fragmented competitive landscape. The market players are focused on enhancing their service offerings to better cater to the changing needs of users and stay competitive. In September 2021, during the ON THE HORIZON 2021 event, Groupe Beneteau announced the introduction of hybrid and electric propulsion systems for the EXCESS, DELPHIA, and BENETEAU brands. Some of the prominent players operating in the global sailboat market are:

• Hallberg-RassyVarvs AB

• BENETEAU GROUP

• Bavaria Yachtbau

• Ferretti Group

• Catalina Yachts

• HanseYachts AG

• CANTIERE DEL PARDO S.p.A.

• Dufour Yachts

• Fountaine Pajot

Sailboat Market Report Scope

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global sailboat market report based on hull type, length, and region:

• Hull Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Monohull

  • Multi-hull

• Length Outlook (Revenue, USD Million, 2016 - 2028)

  • Up to 20 ft.

  • 20-50 ft.

  • Above 50 ft.

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa