The global leisure boat market size is anticipated to reach USD 51.37 billion by
2025, according to a new report by Grand View Research, Inc., registering a
CAGR of 4.3% during the forecast period.
The tourism industry has
been changing drastically in recent times with increasing popularity of marine
and coastal tourism activities. The world economy is experiencing a healthy
growth and markets such as U.S. are rapidly recovering from the 2008 economic
crisis, which, in turn, has resulted in a rise in consumer disposable income.
There is also an increase in number of High Net Worth Individuals (HNWIs)
across the globe, which has resulted in a surge in expenditure on leisure
activities, thus leading to a boost in demand for recreational boats.
Increasing number of
boat shows and water sporting events are attracting a large number of boaters.
Top manufacturers are sponsoring boat shows and events, which, in turn, is
enhancing the popularity of leisure boats. A large number of people are
participating in luxury boating activities, especially in European and North
American countries, which is expected to further boost the market in these
regions.
A number of
technological modifications are taking place in boat building, such as adoption
of IoT technology that enables appliances, physical structures, vehicles,
smartphones, wearable devices, and heavy equipment to be connected to each
other, while facilitating an exchange of information through a single network.
A connected boat provides enhanced safety, security, and accuracy, while also
improving efficiency by digitalizing and optimizing various functions.
Additionally, use of new boating building materials and increase in R&D
expenditure by boat manufacturers are driving the growth of the leisure boat
market.
Measures taken by
various governments to promote tourism activities in their countries are
further boosting the market. Countries with rich natural resources such as vast
coastlines and large inland water bodies are undertaking initiatives to promote
recreational boating activities. U.S. has a rather long coastline, in addition
to highly developed infrastructure and a large population that participates in
leisure boating activities. This opens up new growth opportunities for the
leisure boat market. The French government is encouraging yacht manufactures by
providing them support in various forms, thus enabling companies to invest in
expanding their yacht maintenance and construction capacities.
Growing popularity of marine tourism, rise
in number of government initiatives, and increasing sales of recreational boats
in developing economies such as India and China are expected to drive demand
over the forecast period. Measures taken by the Chinese government for
development of yachting as a recreational activity as well as development of
marinas in coastal regions have boosted the growth of the Chinese leisure boat
market.
To request a sample copy or view summary of this report,
click the link below:
https://www.grandviewresearch.com/industry-analysis/global-leisure-boat-market
https://www.grandviewresearch.com/industry-analysis/global-leisure-boat-market
Further key findings from the report suggest:
· Leisure boats are projected to witness a
strong demand owing to changing economic situations and rise in consumer
disposable income across the world
· Sports yachts are expected to record a high
demand in developed countries owing to active participation of people in
recreational boating activities and marine sporting events
· Implementation of IoT technologies, GPS
mapping, and smart sensors in boats increases safety and security of the boat,
which, in turn, is expected to increase demand for recreational boats over the
forecast period
· Boat manufacturers are focusing on
promotional activities and boating events to attract more buyers in many
developed as well as developing countries
· In 2016, North America dominated the global
market in terms of revenue and was valued at USD 16.60 billion
· Key players in the market include Avon
Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier
Recreational Products (BRP) Inc.; Brunswick Corporation; and Chaparral Boats,
Inc.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has
segmented the global leisure boat market on the basis new leisure boat, used
leisure boat, equipment, and region:
Leisure Boat New Leisure Boat Outlook (Revenue, USD
Billion, 2014 - 2025)
·
Motorized/power boats
·
Non-motorized boats
Leisure Boat Used Leisure Boat Outlook (Revenue, USD
Billion, 2014 - 2025)
·
Motorized/power boats
·
Non-motorized boats
Leisure Boat Equipment Outlook (Revenue, USD Billion,
2014 - 2025)
·
Boat and yacht monitoring solutions
·
IoT sensors
·
Telematics solutions
·
Others
Leisure Boat Regional Outlook (Revenue, USD Billion, 2014
- 2025)
·
North America
o
U.S.
o
Mexico
o
Canada
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
o
Sweden
·
Asia Pacific
o
India
o
China
o
Japan
o
South Korea
·
South America
o
Brazil
·
Middle East and Africa (MEA)
Access Press Release Of This Research Report by Grand
View: https://www.grandviewresearch.com/press-release/leisure-boat-market
About Grand View Research
Grand View Research, Inc. is a
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Sensors Leisure Boat Market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
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