Recreational Boats Market (2024-2031)
Market is expected to reach $42.1 billion by 2031, at a CAGR of 6.7% from 2024–2031.
- Published
- Mar 2024
- Pages
- 250
- Format
- PDF + Excel
- Report ID
- MR-45
- Base year
- 2023
- 2031 · FORECAST
- $42.10B
- 2031
- $42.10B
- CAGR 2024–2031
- 6.7%
2023 baseline · 2024–2031 forecast at 6.7% CAGR · hover a bar for the value
Key highlights
Based on Type, the Sailboats Segment to Register the Highest CAGR in the Market
Based on Boat Size, the 20 Feet to 50 Feet Segment to Register the Highest CAGR in the Market
Based on Engine Type, the Electric Drives Segment to Register the Highest CAGR in the Market
Based on Application, the Sports Fishing Segment to Register the Highest CAGR
Asia-Pacific to be the Fastest-growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 250 |
| Format | |
| Forecast Period | 2024–2031 |
| Base Year | 2023 |
| CAGR (Value) | 6.7% |
| Estimated Market Size (Value) | $42.1 billion by 2031 |
| Segments Covered | By Type · Motorboats · Yachts · Sailboats · Personal Watercraft · Jet Ski · Inflatables · Other Personal Watercraft · Fishing Boats · Center Console Boats · Walk-around Boats · Flats-fishing Boats · Convertible Boats · Other Fishing Boats · Cruising Boats · Runabout Boats · Catamaran Boats · Cabin Cruiser Boats · Pontoon Boats · Other Cruising Boats · Other Types · By Boat Size · Less Than 25 Feet · 20 Feet to 50 Feet · More Than 50 Feet · By Engine Type · Diesel Engines · By Engine Type · Outboard Engines · Inboard Engines · Sterndrive Engines · Jet Drive Engines · By Power Output · Up to 250 HP · 250 HP to 500 HP · Above 500 HP · Electric Drives · Unpowered · By Application · Sports Fishing · Transportation · Watersports · Other Applications · By Geography · North America · U.S. · Canada · Asia-Pacific · China · Japan · India · South Korea · Rest of Asia-Pacific · Europe · U.K. · Germany · Italy · France · Spain · Rest of Europe · Latin America · Middle East & Africa |
| Countries Covered | North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Latin America, and Middle East & Africa |
| Key Companies | Brunswick Corporation (U.S.), Groupe Beneteau (France), Mastercraft Boat Holdings, Inc. (U.S.), Marine Products Corporation (U.S.), Malibu Boats, Inc. (U.S.), Azimut-Benetti Group (U.S.), Ferretti S.p.A. (Italy), Porter, Inc. (U.S.), Grady-White Boats, Inc. (U.S.), Maverick Boat Group, Inc. (U.S.), Correct Craft (U.S.), Yamaha Motor Co., Ltd. (Japan), Polaris Inc. (U.S.), White River Marine Group (U.S.), and Monterey Boats (U.S.) |
Report overview
Segments covered: type, boat size, engine type, application. Regions: North America, Europe, Asia-Pacific.
The growth of the recreational boats market is driven by the growing tourism sector, rising disposable income, and growing participation in water sports and boating activities. However, strict pollution norms for recreational boats and high fuel prices restrain the market’s growth.
Furthermore, the innovation in boat engines and integration of IoT & sensor-based technologies are expected to offer significant growth opportunities for players operating in the recreational boats market. However, the high battery prices of e-boats and high maintenance costs may hinder the growth of this market.
Market dynamics
5 factors across 1 forceimprove recreational boating access to navigable waters,
enhance the safety of recreational boating infrastructure,
reduce the environmental impact of recreational boating facilities,
deliver new and improved recreational boating infrastructure,
and
ensure consultation
with recreational boating organizations.
Table of contents
12 chapters · 127 sections · 250 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Type | — | Sailboats |
| By Boat Size | — | 20 feet |
| By Engine Type | — | Electric drives |
| By Application | — | Sports fishing |
By Type
- The Sailboats Segment to Register the Highest CAGR in the Market
- The personal watercraft segment is further segmented into jet ski, inflatables, and other personal watercraft.
- The fishing boats segment is further segmented into center console boats, walk-around boats, flats-fishing boats, convertible boats, and other fishing boats.
- The cruising boats segment is further segmented into runabout boats, catamaran boats, cabin cruiser boats, pontoon boats, and other cruising boats.
- The sailboats segment is expected to record the highest CAGR during the forecast period.
- The growth of this segment is attributed to various factors, such as increasing concerns over environmental sustainability and the offering of unique experiences for tourists seeking adventure and exploration in water-related activities.
- Also, government regulations aimed at promoting recreational boating safety and environmental conservation can influence the sailboat market.
By Boat Size
- The 20 Feet to 50 Feet Segment to Register the Highest CAGR in the Market
- The 20 feet to 50 feet segment is projected to register the highest CAGR during the forecast period due to various factors, such as the increasing number of affluent individuals, increasing popularity of the boating lifestyle characterized by leisurely activities on the water, and families with disposable income contributing to the demand for mid-sized recreational boats.
- Also, advancements in marine technology, including propulsion systems, navigation equipment, onboard electronics, and materials, influence the design and capabilities of 20 feet to 50 feet recreational boats.
By Engine Type
- The Electric Drives Segment to Register the Highest CAGR in the Market
- The diesel engines segment is further segmented into engine type and power output.
- The engine type segment is further sub-segmented into outboard engines, inboard engines, sterndrive engines, and jet drive engines.
- The power output segment is further sub-segmented into less than 250 HP, 250 HP to 500 HP, and more than 500 HP.
- The electric drives segment is expected to register the highest CAGR during the forecast period.
- The growth of this segment is attributed to various factors, such as stringent government regulations on emissions, particularly in environmentally sensitive areas, which are pushing the adoption of electric alternatives.
- Electric boats generally require less maintenance compared to gasoline-powered ones.
- This translates to lower operational costs over time for boat owners.
- Also, rising fuel prices increase the operational cost of traditional boats, making electric alternatives seem more attractive.
By Application
- The Sports Fishing Segment to Register the Highest CAGR
- The sports fishing segment is projected to register the highest CAGR during the forecast period due to various factors, such as the continuous development of new technologies such as lighter and stronger materials, fuel-efficient engines, and innovative navigation systems improving the boats' performance, efficiency, and overall fishing experience.
- The rise of competitive fishing tournaments creates a demand for high-performance boats equipped with the latest technology to give participants an edge.
- Also, the expansion of marinas and boat clubs provides the necessary infrastructure for boat ownership.
- These facilities offer storage, maintenance services, and a sense of community for boat owners, making boat ownership more accessible and fostering the sport fishing culture.
Geographic analysis
Asia-Pacific
Fastest growthAsia-Pacific is projected to record the highest CAGR during the forecast period. The high growth of the market in the Asia-Pacific region is attributed to various factors, such as economic growth in many parts of Asia-Pacific has led to an increase in disposable incomes, allowing consumers to spend more on leisure activities. Moreover, the popularity of water sports like surfing, wakeboarding, and fishing is increasing in the region, driving demand for boats that cater to these activities. Also, various local and state government initiatives aimed at promoting tourism, maritime recreation, and water-based sports, policies related to infrastructure development, boating regulations, tax incentives, and marine conservation efforts influence the accessibility and popularity of recreational boating activities can have a significant impact on the recreational boats market during the forecast period. Asia-Pacific to be the Fastest-growing Regional Market
Competitive landscape
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading players over the past three-four years. The key players operating in the global recreational boats market include Brunswick Corporation (U.S.), Groupe Beneteau (France), Mastercraft Boat Holdings, Inc. (U.S.), Marine Products Corporation (U.S.), Malibu Boats, Inc. (U.S.), Azimut-Benetti Group (U.S.), Ferretti S.p.A. (Italy), Porter, Inc. (U.S.), Grady-White Boats, Inc. (U.S.), Maverick Boat Group, Inc. (U.S.), Correct Craft (U.S.), Yamaha Motor Co., Ltd. (Japan), Polaris Inc. (U.S.), White River Marine Group (U.S.), and Monterey Boats (U.S.).
- Brunswick Corporation (U.S.)
- Groupe Beneteau · France
- Mastercraft Boat Holdings, Inc. (U.S.)
- Marine Products Corporation (U.S.)
- Malibu Boats, Inc. (U.S.)
- Azimut-Benetti Group (U.S.)
- Ferretti S.p.A · Italy
- Porter, Inc. (U.S.)
- Grady-White Boats, Inc. (U.S.)
- Maverick Boat Group, Inc. (U.S.)
- Correct Craft (U.S.)
- Yamaha Motor Co., Ltd. · Japan
- Polaris Inc. (U.S.)
- White River Marine Group (U.S.)
- Monterey Boats (U.S.)
Frequently asked questions
The global recreational boats market is projected to reach $42.1 billion by 2031, at a CAGR of 6.7% from 2024–2031.
Cite this report
Meticulous Research. (2024). Recreational Boats Market - Global Opportunity Analysis and Industry Forecast (2024 - 2031) (Report No. MR-45). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/reports/recreational-boats-market-4295