Small Boats Market Report 2025

The small boats market size has grown rapidly in recent years. It will grow from $39.02 billion in 2024 to $43.52 billion in 2025 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to economic stability and disposable income, tourism and leisure trends, regulatory environment, boating infrastructure, economic stability.

The small boats market size is expected to see rapid growth in the next few years. It will grow to $72.16 billion in 2029 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to rising urbanization and population growth, environmental awareness, recreational boating culture, safety regulations, sustainable practices. Major trends in the forecast period include digital transformation and connectivity, technological advancements, government regulations and safety standards, online sales and direct-to-consumer models, electric propulsion systems.

The rapid increase in fishing activities is expected to boost the small boat market in the coming years. Fishing activities involve catching fish or other aquatic animals for food, sport, or commercial purposes. Small boats are particularly suitable for fishing in shallow waters and are often more affordable and easier to operate and maintain than larger vessels. For example, in June 2024, according to the European Fishmeal and Fish Oil Producers, a Denmark-based non-governmental organization, the fisheries and aquaculture sector is projected to maintain stable capture fishery landings at 90.6 million tons, up from 89.6 million tons in 2023. Additionally, aquaculture is anticipated to experience notable growth. Consequently, the expansion of fishing activities is driving the small boat market.

The rise in outdoor recreational activities is expected to propel growth in the small boat market. Outdoor recreational activities encompass various leisure pursuits in natural settings, often enhancing individual well-being while enabling exploration of waterways and enjoyment of leisure time on small boats. For instance, in November 2023, according to the Bureau of Economic Analysis, a U.S.-based government agency, conventional outdoor recreation accounted for 34.2% of the U.S. outdoor recreation value added, while other outdoor recreation contributed 19.8% (up from 19% in 2021). Supporting activities made up the remaining 46% in 2022 (up from 43.6% in 2021). Boating or fishing, valued at $32.4 billion, was the second-largest conventional activity nationwide and the leading activity in 24 states and the District of Columbia, notably contributing $4.4 billion in Florida, $2.4 billion in California, and $2.1 billion in Texas. As a result, the growth in outdoor recreational activities is fueling the small boat market expansion.

Technological advancements are gaining prominence in the small boat market, with companies adopting new technologies such as the Internet of Things (IoT). Radian IoT Inc., a US-based big data company, launched the Radian M2 device and SaaS platform with IoT technology for remote boat monitoring in August 2022. This technology allows boat owners to remotely monitor vessels and make informed decisions about navigation, maintenance, and overall boat operation.

Major companies in the small boat market are developing innovative products with advanced technologies, such as electric propulsion systems, to provide reliable services to customers. In April 2023, Munich-based startup Kaebon launched the EB Eins, an electric boat designed to be the world's lightest, weighing only 89 kilograms. Constructed from ultra-light carbon composite materials, the boat offers portability and efficiency, catering to boating enthusiasts.

In January 2024, Correct Craft, a U.S.-based boat manufacturing company, acquired Malibu Boats for an undisclosed amount. Through this acquisition, Correct Craft aims to broaden its product portfolio, enhance its market position in the recreational boating industry, and utilize Malibu Boats' expertise in wakeboarding technology to address the rising demand for luxury watercraft. This strategic move positions Correct Craft as a strong competitor against prominent brands such as MasterCraft and Nautique. Malibu Boats is a U.S.-based manufacturer of powerboats and small boats, specializing in water sports boats designed for activities like wakeboarding, water skiing, and wake surfing.

Major companies operating in the small boats market include AB Volvo Penta, Polaris Industries Inc, Bombardier Recreational Products Inc, Brunswick Corporation, Beneteau Group SA, Malibu Boats Inc., Ferretti Group S.p.A., Sea Ray Boats Inc., MasterCraft Boat Company LLC, Azimut Benetti S.p.A., Marine Products Corporation, Boston Whaler Inc., Sunseeker International Holdings Limited, S2 Yachts Inc., Formula Boats Inc., Pursuit Boats LLC, Grady-White Boats Inc., Cobalt Boats LLC, Everglades Boats LLC, Seabring Marine Industries Inc., Sea Fox Boat Company, Four Winns Boats LLC, Stingray Boats Inc., Bavaria Yachtbau GmbH, Correct Craft Inc., Crestliner Marine Holdings Inc., WeLLCraft Marine Inc., Carver Yachts LLC.

Asia-Pacific was the largest region in the small boats market in 2024. The regions covered in the small boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the small boats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A small boat is a watercraft designed for use in inland or coastal waters, typically small enough to be carried or towed by a vehicle. Small boats, commonly under 26 feet (8 meters) in length, serve various purposes, including recreation, fishing, duck hunting, sports, and business.

The primary types of small boats include powered boats, sailboats, personal watercraft, and others. A powered boat, also known as a motorboat or powerboat, is propelled by an engine or motor, typically gasoline or diesel, used for recreational activities such as fishing, water sports, and cruising. Materials used in these boats include fiberglass, metal, wood, inflatable, among others, catering to various applications such as pleasure, fishing, defense, and more.

The small boats market research report is one of a series of new reports that provides small boats market statistics, including small boats industry global market size, regional shares, competitors with a small boats market share, detailed small boats market segments, market trends and opportunities, and any further data you may need to thrive in the small boats industry. The small boats 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 small boat market consists of sales of jon boats, skiffs, dinghies, inflatable boats, aluminum fishing boats, pontoon boats, car-toppers, canoes, kayaks, and jet 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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