The global leisure boat market was valued at USD 42.30 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. This growth is largely driven by rising disposable incomes and the expanding tourism industry in emerging economies such as Brazil and China. Additionally, the increasing global interest in recreational and competitive boating activities is expected to significantly contribute to market expansion. Technological advancements have also introduced connected boats, further accelerating market growth over the forecast period. Key industry participants include boat and engine manufacturers, independent dealers, service providers, and equipment suppliers.

The market outlook remains positive through 2030, supported by substantial investments and research efforts by leading industry players aimed at enhancing and diversifying their offerings. Manufacturers are also innovating with contemporary boat designs to appeal particularly to the Gen-Z demographic.

Customer awareness about the advantages of incorporating technology into traditional boats continues to rise, further propelling market growth. Manufacturers are increasingly adopting technologies such as IoT, AI, and smart sensors to offer features like GPS tracking, automated controls, and smart connectivity. These technologies not only enhance user experience but also improve safety and security, encouraging more users to venture into deeper waters.

Recreational boating is becoming more popular among tourists, thanks to a growing number of boating-related events and trade shows held globally. The rise of marine and coastal tourism has attracted visitors particularly in Europe and North America. Meanwhile, countries in the Asia Pacific region—including China and Australia—are witnessing new growth opportunities driven by rising per capita incomes. Increasing demand for leisure boating in nations like Japan, China, and Australia is contributing significantly to the region’s market growth.

Government initiatives to promote marine tourism are also playing a crucial role in boosting the market. Policies that support increased tourism investment, infrastructure development, and regulatory reforms are expected to positively influence industry expansion in the coming years. Outboard boats and yachts continue to be among the most preferred options for personal leisure boating and are likely to maintain this trend moving forward.

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Regional Insights
North America led the global market in 2022, accounting for over 44.4% of total revenue. The region’s market growth is supported by economic recovery post-recession and easier access to affordable credit, leading to increased boat sales. The U.S., in particular, has seen a surge in recreational marine activities like boating and cruising. In 2022, the U.S. alone represented 57.4% of the North American market, with strong sales in states such as Florida, California, and New York.

Europe is expected to witness the fastest CAGR during the forecast period, driven by strong demand for recreational boats in countries like the UK, Germany, France, Italy, and Spain. Growing interest in leisure boating and the increasing number of trade events hosted by manufacturers are further supporting regional market growth.

Asia Pacific is poised for substantial growth over the forecast period, largely due to proactive government efforts to enhance tourism. China is projected to record the highest CAGR of 6.4% in the region, supported by abundant water resources—including coastlines, lakes, and rivers—and government initiatives promoting yachting as a leisure activity.

Leading Companies in the Global Leisure Boat Market Include:

Avon Marine

Azimut Benetti Group

Baja Marine

Bavaria Yachtbau GmbH

Bombardier Recreational Products (BRP) Inc.

Brunswick Corporation

Chaparral Boats, Inc.

Farr Yacht Design, Ltd.

Ferretti S.P.A.

Fountain Powerboats, Inc.

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