The global Recreational Boat market size was USD 38.61 Billion in 2022 and is expected to reach USD 70.98 Billion in 2032, and register a revenue CAGR of 7% during the forecast period. The industry is expanding as a result of rising disposable income in emerging nations and rising demand for leisure activities, particularly among millennials. The desire for exploration and adventure has sparked the creation of cutting-edge, technologically advanced Recreational Boats that offer cutting-edge technologies such as Global Positioning System (GPS) navigation, entertainment systems, and underwater cameras, among others. The demand for recreational boats has greatly expanded as a result, notably in the tourism sector.
Also, the development of environmentally friendly recreational boats with cutting-edge propulsion systems and fuel-efficient engines is a result of the expanding ecotourism trend. These boats are being adopted across the globe since they are made to leave as little of a negative environmental impact as possible. The demand for recreational boats is also being driven by the rising popularity of water activities such as wakeboarding, water skiing, and wake surfing.
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Peer-to-peer boat-sharing services have emerged, which is contributing significantly to the expansion of the Recreational Boat market. These platforms provide affordable options for people who do not want to invest in boat ownership. The website enables boat owners to make additional cash by renting out their vessels to private parties. The peer-to-peer boat-sharing business is expanding as a result of the growing use of Digital platforms for booking and payment procedures.
Due to the rising demand for recreational activities, the advent of cutting-edge and environmentally friendly Recreational Boats, and the expanding trend of peer-to-peer boat-sharing platforms, the global Recreational Boat market is expected to experience considerable expansion during the projected period. The market is divided into many categories depending on factors including boat type, size, propulsion, and end-user.
- Brunswick Corporation
- Beneteau Group
- Bombardier Recreational Products (BRP)
- Ferretti Group
- Malibu Boats
- MasterCraft Boat Holdings
- Polynesian Boats
- Princess Yachts
- Sunseeker International
- White River Marine Group
The global market is further segmented into type and application:
Type Scope (Revenue, USD Billion; 2019-2032)
- New Recreational Boat
- Used Recreational Boat
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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