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Report Overview

The global recreational boating market stood at a value of about USD 29.93 Billion in 2023, growing at a CAGR of 3.40% in the forecast period of 2024-2032. The recreational boating industry is projected to reach a value of approximately USD 40.44 Billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Recreational Boating Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 29.93
Market Size 2032 USD Billion 40.44
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 3.4%
CAGR 2024-2032 - Market by Region Asia Pacific 3.9%
CAGR 2024-2032 - Market by Country India 4.0%
CAGR 2024-2032 - Market by Country China 3.8%
CAGR 2024-2032 - Market by Power Source Engine Powered 4.4%
CAGR 2024-2032 - Market by Application Watersports and Cruising 4.6%
Market Share by Country 2023 Mexico 2.1%

Growing Demand for Watersports and Cruising to Bolster the Growth of the Recreational Boating Industry

On the basis of application, the rising demand for watersports and cruising, bolstered by the growing tourism industry and increasing disposable incomes is significantly contributing to the growth of the  the market. There is a significant increase in demand for sail boats witnessed due to its cost-effectiveness and its extensive use in fishing and travelling.

Global Recreational Boating Market

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The Asia Pacific to Significantly Contribute to the Industry Growth

The Asia Pacific accounts for a significant share in the market owing to the increasing number of investors towards recreational activities. A high demand for imported boats in regions like the United States, the United Kingdom, France, and Germany will further augment the growth of the recreational boating industry. The rise in per capita income in developing countries will further instigate the market growth in the forecast period.

Recreational Boating: Market Segmentation

Recreational boat is a vessel made for the purpose of non-commercial use or leasing or renting to another person for the latter’s non-commercial use. These boats are designed for enjoyment and are used for several activities, such as camping, fishing, boat racing, and sailing. The boats are now days equipped with enhanced technological features, such as Global Navigation Satellite System that makes it a successful vehicle to carry out rescue operations.

Global Recreational Boating Market

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Based on type, the market is divided into:

  • Outboard Boats
  • Inboard Boats
  • Personal Watercraft Boats
  • Sail Boats
  • Rigid Inflatable Boats
  • Others

By power source, the market is segmented into:

  • Human Powered
  • Sail Powered
  • Engine Powered

Based on application, the market is segmented into:

  • Watersports and Cruising 
  • Fishing
  • Others
CAGR 2024-2032 - Market by Country
India 4.0%
China 3.8%
Canada 3.7%
Brazil 3.6%
Mexico 3.5%
USA XX%
UK 3.2%
France XX%
Italy XX%
Japan XX%
Australia XX%
Saudi Arabia XX%
Germany 3.0%

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Recreational Boating Market

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Growing Innovation and Attractive Features to Boost the Growth of the Recreational Boating Industry

The global recreational boating industry is fuelled by the increasing innovations and attractive features provided by the manufacturers. The market is further aided by the presence of Global Navigation Satellite System (GNSS), which is a trending technology used in traffic management and surveillance. The marine technologies added to the pleasure crafts will instigate the growth of the market in the forecast period. The efforts made by major players in the industry by mergers and acquisitions in order to expand the company’s portfolio will further bolster the market growth in the forecast period.

Key Industry Players in the Global Recreational Boating Market

The report gives a detailed analysis of the following key players in the global recreational boating market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Brunswick Corporation
  • Marine Product Corporation
  • Azimut Benetti Group
  • Sunseeker International Limited 
  • Bennington Marine LLC
  • White River Marine Group
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Power Source
  • Application
  • Region
Breakup by Type
  • Outboard Boats
  • Inboard Boats
  • Personal Watercraft Boats
  • Sail Boats
  • Rigid Inflatable Boats
  • Others
Breakup by Power Source
  • Human Powered
  • Sail Powered
  • Engine Powered
  • Others
Breakup by Application
  • Watersports and Cruising
  • Fishing
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Brunswick Corporation
  • Marine Product Corporation
  • Azimut Benetti Group
  • Sunseeker International Limited
  • Bennington Marine LLC
  • White River Marine Group
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global recreational boating market attained a value of nearly USD 29.93 Billion.

The market is projected to grow at a CAGR of 3.40% between 2024 and 2032.

The major drivers of the market include the developments in autonomous marine technology, the growing tourism industry, increasing disposable income levels, and increasing demand for leisure boating.

The increasing focus on innovations in boats by manufacturers and the rising deployment of advanced technologies in boats are the key trends propelling the market demand.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major types of recreational boating considered in the market report are outboard boats, inboard boats, personal watercraft boats, sail boats, and rigid inflatable boats, among others.

The significant segments based on power source considered in the market report are human powered, sail powered, and engine powered, among others.

The various applications of recreational boating are watersports and cruising, and fishing, among others.

The major players in the market are Brunswick Corporation, Marine Product Corporation, Azimut Benetti Group, Sunseeker International Limited, Bennington Marine LLC, and White River Marine Group, among others.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 40.44 Billion by 2032.

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30 North Gould Street, Sheridan, WY 82801

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124