Recreational Boats Market

Global Recreational Boats Market Size (2024 to 2032)

The global recreational boats market was valued at USD 18.50 billion in 2023 and is anticipated to reach a valuation of USD 19.88 billion in 2024 from USD 35.32 billion by 2032, growing at a CAGR of 7.45% from 2024 to 2032.

The recreational boat is typically designed with the aim of making the experience of tourism more enjoyable and filled with fun. These boats also are referred to as cabin cruiser boats. People use these boats to enjoy outings with their families, friends, and colleagues. Materials used for the manufacturing of those boats contain coated fabrics, plastic, and aluminium. They are used for several activities like water sports, camping, fishing, racing, and sailing.

Factors like the expanding pool of high net-worth population, growing tourism, innovations in boat engines, and the expanding economy will aid the market's growth globally. The recreational boat market currently represents a small share of the worldwide leisure industry, however, experts foresee significant growth for the market within the coming years. On the downside, its vulnerability to prevailing trends within the worldwide economy often creates obstacles for the global recreational boating market. 

Market Drivers

Some of the key growth factors of the market are advanced technology, high-tech features, and better consumer confidence. The demand for speed boats and powerboats is predicted to extend as they're used for recreational activities. The need for sailboats is anticipated to continue as these boats are used for travelling and fishing. Sailboats are powered by wind and are cost-effective. Hence, the preference for sailboats is more. Recreational boating market players are getting to add various marine technologies within the pleasure crafts. Global Navigation Satellite System (GNSS) may be a trending technology utilized in the industry. It's basically used for traffic management and surveillance in both inland waters and sea. They are also used in search & rescue and fishing boat control. These advancements are likely to spice up the expansion of the recreational boat market within the next few years. Currently, the market represents a minimal share of the worldwide leisure industry, but, experts suggest that there'll be significant growth within the recreational boat market in the upcoming years. 

Market Restraints

A significant aspect limiting the industry in recent years is the concern for environmental hazards because of recreational boat activities. Increasing use of motorized boats affects the wildlife in water bodies and impacts the water and soil quality. Growing in leaching of disinfectants wont to clean, protect, and operate watercraft is applying the environment flora and fauna. Leaching of those disinfectants pollutes the water, leaks alkaline or acidic, and affects the wildlife's ability to survive, causing various lethal diseases like mutations, cancer, congenital disabilities, and death.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Recreational Boats Market Analysis By Power

Rising innovation in diesel-based recreational boat systems is providing a significant outlook for the market. However, the introduction of powerful and efficient diesel-based engines is supporting the adoption of recreational boats. The mixing of rail fuel delivery systems, turbochargers, and exhausts with diesel-based engines is creating new industry trends. Moreover, increasing demand for fuel-efficient and quiet operating engines is strengthening the market revenue.

Global Recreational Boats Market Analysis By Product Type

The sailboats segment is predicted to carry a substantial share of the global recreational boat market. These boats are firstly used for travelling and fishing and are powered by wind. These boats also are cost-effective which more consumers prefer them.

Global Recreational Boats Market Analysis By Activity Type

Fishing has emerged as a well-liked recreational activity. In terms of size, the global recreational boat market is currently witnessing a considerably high demand for bigger boats. Factors like the implementation of state regulations mandating specific safety standards and the installation of lifesaving and firefighting equipment are supporting the expansion of this segment.

REGIONAL ANALYSIS

The recreational boating market is predicted to witness considerably high demand from North America. The high income and standard of living of consumers within the region will support the market’s growth within the coming years. Europe market is the second largest region owing to its rising tourism activities.

Rising government initiatives across the Asia Pacific are developing opportunities for the recreational boat market. The government authorities’ spending on the development of sailing infrastructure may be a significant factor supporting market growth within the region. Public and personal sectors in countries including Japan, Thailand, China, and Australia are that specialize in creating awareness among the population to support market growth. Moreover, government water tourism awareness programs in these regions are creating various opportunities for the market.

KEY MARKET PLAYERS

Caterpillar Incorporated, Azimut-Benetti, Ferretti, Carlisle Paddles, Avon Inflatables, Brunswick Corporation, Rodriguez, Bombardier Recreational Products Incorporated, Bavarian, Sealine Attwood, Zodiac Marine & Pool, Platinum Equity, Baja Marin, Suzuki Motor Corporation, Princess, Group Beneteau, Sunseeker, Azimut-Benetti, Yamaha Motor Company Limited, Kawasaki Heavy Industries Limited, KCS International Incorporated, Honda Motor Company Limited, Poly Marquis Yach, Tognum AG, Hydra-Sports Boat, Godfrey Marine, Crusader Marine Engines, General Motors Company, Pleasurecraft Engine Group, Interphase Technologies, Fountain Powerboat Industries Incorporated. These are the market players that are dominating the global recreational boats market.

RECENT HAPPENINGS IN THE GLOBAL RECREATIONAL BOATS MARKET

• Caterpillar Marine is pleased to spotlight the Cat® C7.1 Propulsion Engine. The latest turbocharged C7.1 platform may be a powerful, compact addition to their high-performance product portfolio. The engine offers a superior power-to-weight ratio, leading to swift reaction time and speedy acceleration.
• The Ferretti 920 (28.49m LOA) features a totally new hull measuring 23.98m, which suggests it are often termed as a recreational craft. The glory of this new maxi flybridge offers an immediate impression. Its dynamic, irrepressible profile evolves the stylistic design features that have led to the international success of recently launched models and have completely modernized the fleet.

DETAILED SEGMENTATION OF THE GLOBAL RECREATIONAL BOATS MARKET IS INCLUDED IN THIS REPORT

This research report on the global recreational boats market is segmented and sub-segmented into the following categories.

By Power

• Engine-Powered 
• Man-Powered 
• Sail Propelled 

By Product Type

• Inboard Boats 
• Outboard Boats 
• Inflatable 
• Sail Boats
• Personal Watercrafts

By Activity Type

• Watersports 
• Cruising 
• Fishing 

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa