Leisure Boat Market Report 2025

The leisure boat market size has grown steadily in recent years. It will grow from $44.72 billion in 2024 to $46.81 billion in 2025 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to marina and infrastructure development, consumer preferences for water-based activities, boating events and promotions, environmental awareness and regulations, tourism and travel trends.

The leisure boat market size is expected to see strong growth in the next few years. It will grow to $59.77 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to emerging market expansion, market segmentation and diversification, boating events and promotions, consumer preferences for water-based activities, expansion of boating infrastructure. Major trends in the forecast period include boat connectivity and tech integration, sustainable and eco-friendly designs, versatility and multifunctional boats, focus on customization and personalization, rise in electric and hybrid boats.

The rising tourism sector is anticipated to drive the growth of the leisure boat market. Tourism is a social, cultural, and economic phenomenon involving individuals traveling to destinations outside their usual surroundings for personal or business purposes. The rapid increase in tourism over the last decade can be attributed to higher disposable income, greater access to diverse locations, and a desire to explore, among other factors. Leisure boats support the tourism industry by transporting passengers to their desired destinations while offering a luxurious experience. For example, in November 2023, a report from the United Nations World Trade Organization (UNWTO) indicated that in the third quarter of 2023, global destinations saw a 22% increase in international tourist arrivals compared to the same period last year. Overall tourism had recovered to 87% of pre-pandemic levels between January and September 2023, with the sector expected to reach nearly 90% by year-end, fueled by a robust Northern Hemisphere summer season. Therefore, the growth in tourism is likely to enhance the demand for leisure boats throughout the forecast period.

The cultural shift toward outdoor activities is expected to drive growth in the leisure boat market. Outdoor activities encompass recreational pursuits and exercises conducted in natural settings, supporting physical wellness and enjoyment in outdoor environments. Leisure boats facilitate recreation and enjoyment, supporting outdoor activities such as boating and water-based leisure experiences. For example, in November 2023, according to the Bureau of Economic Analysis (BEA), a U.S.-based federal statistical agency, outdoor recreation contributed 19.8 percent to the value added in 2022, up from 19 percent in 2021. Thus, the cultural shift toward outdoor activities is propelling the leisure boat market.

Leading companies in the leisure boat market are prioritizing the development of innovative boats that utilize technologies like solar-electric propulsion systems to promote sustainable maritime solutions and position India as a leader in eco-friendly boating technology. A solar-electric propulsion system is an environmentally friendly technology that uses solar panels to generate electricity, powering electric motors for propulsion, which significantly reduces dependence on fossil fuels and minimizes environmental impact. For instance, in December 2023, NavAlt Solar & Electric Boats Pvt Ltd, an India-based manufacturer of solar-electric and hybrid boats, introduced the Barracuda, recognized as India’s fastest solar-electric boat. Designed for durability and high performance in challenging sea conditions, the Barracuda supports sustainable maritime solutions. It features a catamaran hull for superior stability, a top speed of 12.5 knots, and a 6-kW solar panel for battery charging, demonstrating an innovative approach to eco-friendly maritime technology.

Prominent companies in the leisure boat market are actively engaged in the development of eco-friendly marine vessels, such as electric boats, with the aim of revolutionizing recreational boating and optimizing their market returns. An electric boat relies on electric propulsion systems, utilizing either batteries or solar energy for an environmentally clean and sustainable operation on water. As an illustration, in December 2023, Blue Innovations Group (BIG), a technology company based in the United States, introduced the R30 electric boat, with the objective of transforming recreational boating through sustainable marine technology. This 30ft electric cabin cruiser is equipped with solar-charging capabilities, an 800hp twin-motor powertrain, and a 221kWh battery pack. Featuring a semi-walkaround design, retractable solar panels, and an 'ocean terrace,' the R30 delivers an unmatched boating experience by seamlessly integrating advanced technologies and timeless styling with a silent, pollution-free propulsion system.

In August 2022, MarineMax Inc., a US-based retailer of recreational boats and yachts, acquired IGY Marinas for $0.48 billion. This acquisition strengthens MarineMax’s portfolio by incorporating 15 luxury marina locations throughout the Caribbean, Central America, and the United States. The deal aligns with MarineMax’s strategy to broaden its reach and enhance its service offerings, particularly within the luxury yacht sector. IGY Marinas, a US-based company, specializes in managing, acquiring, and servicing luxury yacht marinas and their surrounding real estate.

Major companies operating in the leisure boat market include Yamaha Motor Co Ltd., Brunswick Corporation, Groupe Beneteau, Ferretti S.p.A., Viking Yacht Company, MasterCraft Boat Company, Malibu Boats LLC, Princess Yachts International plc, Marine Products Corporation, Sunseeker International Limited, Boston Whaler Inc., Westport Yachts, Hatteras Yachts, Regal Boats, Cobalt Boats LLC, Grady-White Boats Inc., Ranger Boats Inc., Duffy Electric Boats, Monterey Boats, Canadian Electric Boat Company, Chaparral Boats Inc., CRN SpA, Jeanneau, Nautor's Swan OYJ, Andaman Boatyard, Azimut Benetti Group, Baja Marine Inc., Bavaria Yachtbau GmbH, Boote Marian GmbH.

North America was the largest region in the leisure boat market in 2024. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the leisure boat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the leisure boat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A leisure boat is a sizable watercraft designed for transporting passengers on rivers, lakes, or across the sea for purposes of leisure, travel, recreation, entertainment, and more. These boats often come equipped with luxurious features such as accommodations, cabins, and additional amenities.

Leisure boats encompass several primary types, including yachts, sailboats, personal watercraft, inflatables, and other variations. Yachts are vessels equipped with sails and occasionally an engine, designed for both leisure and competitive sailing. Ranging in size from small to large, yachts are widely utilized for recreational pursuits. Leisure boats employ various power sources, including engines, sails, and human power. The manufacturing of these boats involves materials such as aluminum, fiberglass, steel, and others. They find applications in activities such as fishing, transportation, sports, travel and tourism, among other uses.

The leisure boat market research report is one of a series of new reports that provides Leisure boat market statistics, including leisure boat industry global market size, regional shares, competitors with a leisure boat market share, detailed leisure boat market segments, market trends and opportunities, and any further data you may need to thrive in the leisure boat industry. This leisure boat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The leisure boat market consists of sales of towboats, fishing boats, sailboats, cabin cruisers and pontoon boats. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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