Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
The leisure boats market valuation is anticipated to cross USD 82.7 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing number of conferences and events dedicated to leisure boats will positively influence the industry growth. These gatherings are serving as platforms for networking, knowledge sharing, and showcasing the latest innovations in boat design and technology. For instance, in February 2024, the Annual Dubai Boat Show Leisure Yachting Conference, spotlighted the exceptional performance of the region. Furthermore, economic prosperity is playing a significant role in driving the demand for leisure boats.
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Leisure boats market from the cruiser product segment may exhibit a decent growth rate over 2023-2032. Cruise enthusiasts are increasingly investing in boats tailored for extended journeys, featuring comfortable accommodations and amenities. In addition to coastal exploration and long-distance voyages, cruisers contribute to innovations in design and technology. The rising pursuit of leisurely experiences on the open sea will also favour the segment growth.
Non-motorized leisure boats market size will register a noteworthy CAGR between 2023 and 2032. These eco-friendly vessels offer a serene way to explore waterways, appealing to nature lovers, fitness enthusiasts, and families alike. With an emphasis on simplicity, affordability, and environmental sustainability, non-motorized boats also cater to the growing number of consumers seeking leisure activities to promote wellness and connection with the outdoors.
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Europe leisure boats market will register a robust CAGR from 2023 to 2032. The extensive coastline, numerous lakes, and rivers of the region will provide ample opportunities for recreational boating activities. Additionally, the presence of a culture that values leisure, outdoor pursuits, and exploration is contributing to sustained demand for leisure boats. With a wide range of boat types for catering to diverse preferences, from motor yachts to sailboats and canal cruisers, Europe will remain a vibrant and dynamic market for leisure boating enthusiasts.
Leading players in the leisure boats market include Sanlorenzo Spa, Malibu Boats, Inc, HanseYatchs AG, Bavaria Yachtbau GmbH, Yamaha Motor Corporation, MasterCraft Boat Company, Inc, Hallberg-Rassy, Ferretti S.P.A, Forest River, Inc, Brunswick Corporation, Legend Boats, Ltd, White River Marine Group, Groupe Beneteau, Porter, Inc (Formula Boats), Lürssen, Azimut-Benetti, Fountaine Pajot SA, Marine Products Corporation, Riviera Australia Pty. Ltd. These companies are actively pursuing growth through various strategies and are investing heavily in R&D activities to come up with new boat designs and technologies, enhancing performance, safety, and comfort. Additionally, strategic partnerships, mergers, and acquisitions are utilized by these industry players to expand their market reach and diversify product offerings. For instance, in June 2023, the Azimut|Benetti Group partnered with Eni Sustainable Mobility to adopt HVOlution, a biofuel made from 100% renewable sources, for their yachts.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Leisure boats market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM), 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 Product trends
2.6 Propulsion system trends
Chapter 3 Leisure Boats Industry Insights
3.1 Impact of COVID-19
3.2 Russia-Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/collaboration
3.8.2 Merger/acquisition
3.8.3 Investment
3.8.4 type launch/innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Integration of advanced technologies in pleasure boats
3.10.1.2 Proliferation of boat clubs in North America
3.10.1.3 Increasing participation in pleasure boating activities in Europe
3.10.1.4 Growing tourism sector Asia Pacific
3.10.1.5 Rapid development of boating industry in Latin America and MEA
3.10.2 Industry pitfalls & challenges
3.10.2.1 Increasing number of accidents
3.10.2.2 High initial investments in leisure boats
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
