Press Release
Press Release
The global leisure boat industry is being driven by the growing tourism industry and the rising marine activities worldwide. The heightened demand for motorised leisure boats is anticipated to bolster the market growth in the forecast period. This can be associated with inflating consumer disposable incomes and improved living standards. In addition, the rising interest in recreational fishing is also encouraging consumers to invest in leisure boats, which is projected to aid the market growth. Furthermore, the rapid technological advancements are also estimated to propel the industry growth in the forecast period.
The growing demand for leisure boats in the tourism industry leads to increased investments by the leading market players in the rapid expansion of their manufacturing capacities. This is estimated to significantly catalyse the industry growth in the forecast period. For example, in December 2021, Brunswick Corporation (NYSE: BC) announced the expansion of its Reynosa manufacturing facility with 150,000 square feet to the existent facility, which is expected to help increase its boat manufacturing capability by 60%. Furthermore, another leisure boat manufacturer, Malibu Boats, Inc. (NASDAQ: MBUU), in a press release dated January 2021, announced the completion of the acquisition process of Maverick Boat Group, Inc., which is expected to help boost the company’s boat manufacturing and distribution capabilities. Such developments are expected to significantly impact the growth of the leisure boat industry in the forecast period.
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The major players in the global leisure boat market are Azimut Yachts Montenegro, Baja Marine, Bavaria Yachtbau GmbH, Ferretti Group, Brunswick Corporation, and Fountain Powerboats, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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