Global Recreational Boat Market

Global Recreational Boat Market Size, Share, Growth Analysis, By Type analysis(diesel and electric), By Boat size(fishing, transportation) - Industry Forecast 2023-2030


Report ID: SQMIG20T2005 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 63 | Figures: 75

Global Recreational Boat Market Insights

Recreational Boat Market size was valued at USD 16.31 billion in 2021 and is poised to grow from USD 17.37 billion in 2022 to USD 28.75 billion by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).

Recreational Boating is one of the world's most vibrant maritime sectors. A recreational boat is basically a big motorboat that has a cabin, plumbing, and other fun things you need to live on board. Recreational boats are being used by people to go on outings with their families, friends, and peers. The best uses for recreational boats are fishing, boat racing, water sports, campaigning, and sailing. These ships are made of coated fabrics, plastics, and aluminum.

The worldwide recreational boat market is expanding due to the rising number of people operating recreational businesses and the increasing use of these boats for business-specific purposes like passenger transportation and short-distance transportation. Recreational boating events are open to all kinds of boats such as engine powered, sail powered, or man powered.

US Recreational Boat Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 16.31 billion

Largest Segment

Diesel

Fastest Growth

Diesel

Growth Rate

6.5% CAGR

Global Recreational Boat Market ($Bn)
Country Share for North America Region (%)
Global Recreational Boat Market size by Boat Engine($Bn)
Global Recreational Boat Market size by Boat Engine($Bn)

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Global Recreational Boat Market Segmental Analysis

The Recreational Boat Market is segmented on the basis of Boat Type, By Boat size, By Boat engine, By Application, and by region. Whereas, By Boat type, Recreational Boat Market is sub segmented into the outboard boats, inboard & sterndrive boats, and sailboats. By Boat size , Recreational Boat Market is sub segmented into the 20 ft. boats, 21 ft. to 35 ft. boats, and 36 ft. to 50 ft. boats. By Boat engine, Recreational Boat Market is sub segmented into diesel and electric. By application, Recreational Boat Market is sub segmented into fishing, transportation, sports, travel & tourism, and others. By region, Recreational Boat Market is segmented on the basis of North America, Europe, Asia-Pacific, and the Rest of the World. 

Recreational Boat Market Analysis by Boat Size

Based on the Boat size, the 21 ft. to 35 ft. boat size segment is expected to command the largest share of the recreational boats market. High-power engines and technical advancements have increased the demand for boats in this size range. Manufacturers of boats offer medium-sized vessels with two to three engines for improved space utilization and speed. The segment is expanding as a result of these design trends and consumer demand for spacious boats for leisure activities. Because they need more space and power, these boats are mostly used for sports and tourism. To meet consumer demand at water level, tourism and travel-specific boats with a large capacity for passengers and powerful engines are required.

Recreational Boat Market Analysis by Boat Engine

Based on boat engine, The electric segment is expected to grow at the highest CAGR during the forecast period. Due to the absence of a combustion system and a silent motor, electric motors produce less noise than diesel and gas engines. A better boating experience is made possible by these features, which enable passengers to converse without disturbing others. Additionally, these engines provide environmental safety advantages and emit negligible exhaust emissions. Compared to diesel engines, electric motors are also more adaptable because they are lighter and have more space.

Global Recreational Boat Market size by Boat Engine, 2021 (%)

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Global Recreational Boat Market Regional Insights

North America held the largest share of the global recreational boat market in 2021 and it is expected to dominate the global market during the forecast period. The domestic boating industry has already seen a rise in people choosing to participate in water sports in their own country rather than abroad. The domestic water sports industry is flourishing as a result of this ongoing trend. Retail unit sales of new powerboats in the United States exceeded 300,000 units for two consecutive years in 2020 and 2021, according to the National Marine Manufacturers Association (NMMA).In addition, NMMA has stated that the year 2022 will continue to be profitable and that the volume of new boat sales may rise by 3% in comparison to 2021. Additionally, restrictions are likely to continue into 2021, resulting in a demand for boating and other safe outdoor recreation activities. Boating is enjoyed by approximately 100 million Americans annually, according to the US Bureau of Economic Analysis (BEA).Outdoor recreation accounts for 2.1% of the country's GDP and generates real gross output of USD 788 billion.With close to USD 23.6 billion in annual spending, the country's most popular outdoor recreation activities are fishing and boating.

Canada is yet another nation where the recreational boating industry is a significant contributor to the economy.Every year, this Canadian pastime brings together more than 12 million people on the water. It generates more than USD 10 billion in revenue and has an impact of USD 5.6 billion on the GDP.

Global Recreational Boat Market Size By Geography, 2023-2030
  • Largest
  • Fastest

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Global Recreational Boat Market Dynamics

Recreational Boat Market Drivers

Growing Tourism to Boost Demand for Recreational Boats in Global Market

  • The growing tourism industry will increase recreational boat demand. The growth of the tourism industry is largely responsible for the expansion of the recreational boat market. This market has demonstrated its capacity to expand with the tourism sector over the past ten years, particularly in terms of pontoon, cruise, and water sports boat sales. Over the course of these years, sales of used boats and personal watercraft also increased because they provided buyers and leasing businesses with a wonderful holiday experience. With the growing tourism industry, small sea and river crises have become more appealing for small and medium-sized operators

Recreational Boat Market Restraints

Stringent Regulations to Hinder Market Growth during Forecast Period

  • Strict emission norms for recreation boats to reduce demand. New motor boats, sailing boats, jet skis, and other recreational vehicles have been subjected to stricter limits for nitrogen oxide (NOx), hydrocarbons (HC), and particulate matter by the European Commission. It is proposed that propulsion engines will be constructed to produce less particulate matter and HC+NOx emissions by 34% and 20%, respectively. To cut emissions, the recreational boat market is also regulated by the United States. Its CBA determines the discharge limits for boats in accordance with state regulations. For instance, the discharge that these boats let out could be harmful to the fish, the environment, and so on are governed. Additionally, it has established no discharge zones to safeguard the environment.
  • The NOX limit in Europe has been set at 1.8 g/kW-hr, whereas the US EPA 4 regulations announced a 63% reduction in emissions for engines with more than 600 kW compared to the EPA 3 regulations that came before them. To meet such stringent pollution standards, boat engine manufacturers would need to upgrade their technology. We are aware of their impact on the market.
  • In 2020, the recreational boating industry in the United States was exempt from pollution regulations for a short period of time. This caused the demand for recreational boating to dramatically rise over the following months. As a result, this market's demand is heavily influenced by pollution regulations in numerous regions of the world.

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Global Recreational Boat Market Competitive Landscape

The recreational boat market worldwide is fragmented, and during the forecast period, this fragmentation is expected to grow. All over the world, there are a lot of domestic and international vendors. In recent years, these major players have become increasingly competitive. The market is growing in developing economies like China and India due to the entry of several international brands there. However, the market is concentrated in developed nations like the United States and other Western European nations.

Recreational Boat Market Top Players Company Profile

  • Ferretti
  • Princess Cruise
  • Yamaha Motor Co., Ltd.
  • Brunswick Corporation
  • Beneteau Group
  • Groupe Bénéteau
  • Malibu Boats Inc.
  • MasterCraft Boat Holdings Inc.
  • Azimut Benetti Group
  • Bavaria Yachtbau GmbH
  • Bombardier Recreational Products Inc. (BRP)
  • Correct Craft Inc.
  • Fincantieri S.p.A.
  • Godfrey Marine
  • HanseYachts AG
  • Jeanneau SAS
  • Riviera Australia Pty Ltd.
  • Sunseeker International Limited
  • White River Marine Group
  • Zodiac Nautic S.A.S. 

Recreational Boat Market Recent Developments

  • In March 2022, Sportsman Manufacturing Inc. has announced to invest USD 8 million to expand their operations in Dorchester County, South Carolina, this will increase the manufacturing capacity of the company in order to meet the growing demands. 
  • In July 2022, Vision Marine Technologies and Groupe Beneteau formed a partnership to integrate Vision Marine Technologies' high-power electric outboard motors onboard several models across Groupe Beneteau's brand portfolio
  • In July 2022, Mercury Marine, a division of Brunswick Corporation, announced a collaboration with Alliant Energy to construct a 5-megawatt, 32-acre solar array in eastern Fond du Lac County to advance the company's sustainability initiatives and the region's growing commitment to renewable energy.

Global Recreational Boat Key Market Trends

  • The recreational boating industry is being driven by a number of major factors, including the rising interest in outdoor recreational activities and rising participation rates across all age groups in those activities. In addition to the excitement and adrenaline rush of getting fit, water sports are gaining popularity for their numerous health benefits. Consequently, the expanding health benefits of water sports are supporting market expansion worldwide. The coronavirus pandemic fueled an increase in recreational boat sales in 2020, which was reflected in sales volume in 2021 and is anticipated to continue in 2022.

Global Recreational Boat Market SkyQuest Analysis

Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our global recreational boat market analysis, The North American Region is Likely to Dominate the Market. Based on the Boat size, the 21 ft. to 35 ft. boat size segment is expected to command the largest share of the recreational boats market.

Report Metric Details
Market size value in 2021 USD 16.31 billion
Market size value in 2030 USD 28.75 billion
Growth Rate 6.5%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type analysis
    • diesel and electric
  • Boat size
    • fishing, transportation, sports, travel & tourism, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Ferretti
  • Princess Cruise
  • Yamaha Motor Co., Ltd.
  • Brunswick Corporation
  • Beneteau Group
  • Groupe Bénéteau
  • Malibu Boats Inc.
  • MasterCraft Boat Holdings Inc.
  • Azimut Benetti Group
  • Bavaria Yachtbau GmbH
  • Bombardier Recreational Products Inc. (BRP)
  • Correct Craft Inc.
  • Fincantieri S.p.A.
  • Godfrey Marine
  • HanseYachts AG
  • Jeanneau SAS
  • Riviera Australia Pty Ltd.
  • Sunseeker International Limited
  • White River Marine Group
  • Zodiac Nautic S.A.S. 
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Recreational Boat Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Recreational Boat Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Recreational Boat Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Recreational Boat Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Recreational Boat Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Recreational Boat Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Recreational Boat Market size was valued at USD 16.31 billion in 2021 and is poised to grow from USD 17.37 billion in 2022 to USD 28.75 billion by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).

The recreational boat market worldwide is fragmented, and during the forecast period, this fragmentation is expected to grow. All over the world, there are a lot of domestic and international vendors. In recent years, these major players have become increasingly competitive. The market is growing in developing economies like China and India due to the entry of several international brands there. However, the market is concentrated in developed nations like the United States and other Western European nations. 'Ferretti', 'Princess Cruise', 'Yamaha Motor Co., Ltd.', 'Brunswick Corporation', 'Beneteau Group', 'Groupe Bénéteau', 'Malibu Boats Inc.', 'MasterCraft Boat Holdings Inc.', 'Azimut Benetti Group', 'Bavaria Yachtbau GmbH', 'Bombardier Recreational Products Inc. (BRP)', 'Correct Craft Inc.', 'Fincantieri S.p.A.', 'Godfrey Marine', 'HanseYachts AG', 'Jeanneau SAS', 'Riviera Australia Pty Ltd.', 'Sunseeker International Limited', 'White River Marine Group', 'Zodiac Nautic S.A.S. '

The growing tourism industry will increase recreational boat demand. The growth of the tourism industry is largely responsible for the expansion of the recreational boat market. This market has demonstrated its capacity to expand with the tourism sector over the past ten years, particularly in terms of pontoon, cruise, and water sports boat sales. Over the course of these years, sales of used boats and personal watercraft also increased because they provided buyers and leasing businesses with a wonderful holiday experience. With the growing tourism industry, small sea and river crises have become more appealing for small and medium-sized operators

The recreational boating industry is being driven by a number of major factors, including the rising interest in outdoor recreational activities and rising participation rates across all age groups in those activities. In addition to the excitement and adrenaline rush of getting fit, water sports are gaining popularity for their numerous health benefits. Consequently, the expanding health benefits of water sports are supporting market expansion worldwide. The coronavirus pandemic fueled an increase in recreational boat sales in 2020, which was reflected in sales volume in 2021 and is anticipated to continue in 2022.

North America held the largest share of the global recreational boat market in 2021 and it is expected to dominate the global market during the forecast period. The domestic boating industry has already seen a rise in people choosing to participate in water sports in their own country rather than abroad. The domestic water sports industry is flourishing as a result of this ongoing trend. Retail unit sales of new powerboats in the United States exceeded 300,000 units for two consecutive years in 2020 and 2021, according to the National Marine Manufacturers Association (NMMA).In addition, NMMA has stated that the year 2022 will continue to be profitable and that the volume of new boat sales may rise by 3% in comparison to 2021. Additionally, restrictions are likely to continue into 2021, resulting in a demand for boating and other safe outdoor recreation activities. Boating is enjoyed by approximately 100 million Americans annually, according to the US Bureau of Economic Analysis (BEA).Outdoor recreation accounts for 2.1% of the country's GDP and generates real gross output of USD 788 billion.With close to USD 23.6 billion in annual spending, the country's most popular outdoor recreation activities are fishing and boating.

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Global Recreational Boat Market

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