Boat Leisure Market
Global Boat Leisure Market Size, Share & Trends Analysis Report by Boat Type (Motorized/Power Boats and Non-motorized Boats) and by Monitoring Equipment (Boat and Yacht Monitoring Solutions, IoT Sensors, Telematics Solutions, and Others) Forecast Period (2021-2027)
The global boat leisure market is anticipated to grow at a significant CAGR of 5.1% during the forecast period. The modern boat layouts including the Gen-Z category attracts customers towards them. Additionally, the integration of advanced technologies including IoT, AI, and smart sensors provides various convenient facilities including GPS tracking and automatic control. Such a technologically supported boating facility provides safety and security to the customers which inclines customer's interest towards surfing deep waters. On the other hand, a significant growth in recreational boating activities and increasing per capita income in various countries including China, Australia, and Japan are also expected to drive the market growth. The supportive government initiatives through increasing investment in the tourism sector, infrastructural development, and easing regulatory framework will further upthrust the market growth.
However, the increased maritime accidents are a major challenging factor for the market growth. According to the Allianz SE, a total of 2,185 shipping accidents were recorded in 2019, in which 41 large ships were completely lost. The six days blockage of the Suez Canal in March 2021 is another major instance that had costed a loss of $9.6 billion per day as Ever Given container ship got stuck.
Impact of COVID-19 Pandemic on Global Boat Leisure Market
The outbreak of COVID-19 had severly disrupted the manufacturing of boats and engines as the supply of raw materials got severely impacted by lockdowns. Various market players had halted their production facilities due to the shortage of raw materials, city shutdowns and suppl chain disruptions. The tourism sector also witnessed a major downfall as the people avoided unnecessary traveling. Post COVID-19 crisis the market is expected to grow slowly as the people are only spending their money on essentials due to reduced per capita income.
Segmental Outlook
The global boat leisure market is segmented based on the boat type and monitoring equipment. Based on the boat type, the market is segmented into motorized/power boats (incluing super yachts, flybridge yachts, sport yachts, long range yachts, and others) and non-motorized boats (including kayaks, canoes, and others). Based on monitoring equipment, the market is sub-segmented into boat and yacht monitoring solutions, IoT sensors (including water detection sensors, voltage meters, temperature & motion sensors), telematics solutions, and others.
Global Boat Leisure Market Share by Boat Type, 2020 (%)
The Non-Motorized Boats Holds the Major Share in the Global Boat Leisure Market
Non-motorized boats is projected to hold the most significant share in the market attributing to the increased usage of kayaks and canoes in adventurous water sports. Additionally, the lower pricing gives a significant boost to the segmental market growth. These types of boats are easily available in various sizes and shapes which makes them adaptable amongst diversified income and age groups. Smart sensors, IoT technology, and artificial intelligence devices make boating activities user-friendly. Wireless technology and smartphones are now used by boat owners to track, monitor, and control boats. The IoT technology used in smartphone apps has enhanced safety through predictive maintenance, emergency alerts, and notifications during long voyages.
Regional Outlook
The global boat leisure market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America).
Global Boat Leisure Market Share by Region, 2020 (%)
North America Holds the Major Share in the Global Boat Leisure Market
North America holds the major share in the market as the region holds 23% of the global economy alone. The increasing recreational activities in marine including boating and cruising will drive the market growth in North America. As per the Bureau of Economic Analysis, around 100 million Americans enjoy boating activities every year. Florida, California, and New York are the major contributors to this market growth in North America. Further, Europe is expected to show the fastest growth in the market during the forecast period. The increasing recreational boats in countries, including the UK, France, Germany, Italy, and Spain will propel the market growth in this region. Additionally, manufacturers are organizing trade shows in the region which will support the market growth.
Market Players Outlook
The major companies serving the global boat leisure market include Mahindra Marine Pvt. Ltd., Malibu Boats, Inc., Marince Products Corp., MasterCraft, Yamaha Motor Co. Ltd., Baja Marine, Johnson Outdoors Watercraft, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, Correct Craft in January 2021 announced to invest $1.7 million to establish a manufacturing facility in Valdosta which will produce wakeboarding and wake surfing boats. Similarly, HanseYachts had sealine range boats in December 2020, named- C335 and C335v. This newly launched boats has 440 hp inboard engine whose maximum speed is 31 kt.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global boat leisure market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Boat Leisure Market
• Recovery Scenario of Global Boat Leisure Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Mahindra Marine Pvt. Ltd.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Malibu Boats, Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Marince Products Corp.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. AB Volvo
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Yamaha Motor Co. Ltd.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Boat Leisure Market by Boat Type
5.1.1. Motorized/Power Boats
5.1.1.1. Super Yachts
5.1.1.2. Flybridge Yachts
5.1.1.3. Sport Yachts
5.1.1.4. Long Range Yachts
5.1.1.5. Others
5.1.2. Non-Motorized Boats
5.1.2.1. Kayaks
5.1.2.2. Canoes
5.1.2.3. Others
5.2. Global Boat Leisure Market by Monitoring Equipment
5.2.1. Boat and Yacht Monitoring Solutions
5.2.2. IoT Sensors
5.2.3. Telematics Solutions
5.2.4. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. AB Volvo
7.2. Avon Boats
7.3. Azimut Benetti Group
7.4. Baja Marine
7.5. Bavaria Yachtbau
7.6. Beneteau Group
7.7. Bennington Marine LLC,
7.8. Bombardier Recreational Products (BRP) Inc.
7.9. Brunswick Corp.
7.10. Catalina Yachts
7.11. Chaparral Boats Inc.
7.12. Farr Yacht Design, Ltd.
7.13. Ferretti S.P.A.
7.14. Fountain Powerboats, Inc.
7.15. Godfrey Pontoon Group
7.16. Groupe Beneteau
7.17. Johnson Outdoors Watercraft, Inc.
7.18. Mahindra Marine Pvt. Ltd.
7.19. Malibu Boats, Inc.
7.20. Marince Products Corp.
7.21. MasterCraft
7.22. Ranger Boats
7.23. Sunseeker International Ltd.
7.24. The MasterCraft Boat Co.
7.25. TRACKER BOATS
7.26. Yamaha Motor Co. Ltd.
1. GLOBAL BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY BOAT TYPE, 2020-2027 ($ MILLION)
2. GLOBAL MOTORIZED/POWER BOATS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL NON-MOTORIZED BOATS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY MONITORING EQUIPMENT, 2020-2027 ($ MILLION)
5. GLOBAL BOAT AND YACHT MONITORING SOLUTIONS MARKET RESEARCH AND ANALYSIS BY MONITORING EQUIPMENT, 2020-2027 ($ MILLION)
6. GLOBAL IOT SENSONS MARKET FOR BOAT LEISURE RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL TELEMATICS SOLUTIONS MARKET FOR BOAT LEISURE RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL OTHER MONITORING EQUIPMENTS MARKET FOR BOAT LEISURE RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
10. NORTH AMERICAN BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
11. NORTH AMERICAN BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY BOAT TYPE, 2020-2027 ($ MILLION)
12. NORTH AMERICAN BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY MONITORING EQUIPMENT, 2020-2027 ($ MILLION)
13. EUROPEAN BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
14. EUROPEAN BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY BOAT TYPE, 2020-2027 ($ MILLION)
15. EUROPEAN BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY MONITORING EQUIPMENT, 2020-2027 ($ MILLION)
16. ASIA-PACIFIC BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. ASIA-PACIFIC BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY BOAT TYPE, 2020-2027 ($ MILLION)
18. ASIA-PACIFIC BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY MONITORING EQUIPMENT, 2020-2027 ($ MILLION)
19. REST OF THE WORLD BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY BOAT TYPE, 2020-2027 ($ MILLION)
20. REST OF THE WORLD BOAT LEISURE MARKET RESEARCH AND ANALYSIS BY MONITORING EQUIPMENT, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL BOAT LEISURE MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL BOAT LEISURE MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL BOAT LEISURE MARKET, 2021-2027 (%)
4. GLOBAL BOAT LEISURE MARKET SHARE BY BOAT TYPE, 2020 VS 2027 (%)
5. GLOBAL MOTORIZED/POWER BOATS MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL NON-MOTORIZED BOATS MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL BOAT LEISURE MARKET SHARE BY MONITORING EQUIPMENT, 2020 VS 2027 (%)
8. GLOBAL IOT SENSORS OF BOAT LEISURE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL TELEMATICS SOLUTIONS OF BOAT LEISURE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL OTHER MONITORING EQUIPMENTS OF BOAT LEISURE MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL BOAT LEISURE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. US BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
13. CANADA BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
14. UK BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
15. FRANCE BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
16. GERMANY BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
17. ITALY BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
18. SPAIN BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
19. REST OF EUROPE BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
20. INDIA BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
21. CHINA BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
22. JAPAN BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
23. SOUTH KOREA BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
24. REST OF ASIA-PACIFIC BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
25. REST OF THE WORLD BOAT LEISURE MARKET SIZE, 2020-2027 ($ MILLION)
