Recreational Boating Market Report 2024 (Global Edition)

Global Recreational Boating Market Report 2024 Market Size Split by Boat Type (Yachts, Sailboats, Personal Watercrafts, Inflatables, Others), by Boat Size (<30 Feet, 30-50 Feet, >50 Feet), by Engine P...

Recreational Boating Market Report Description

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Recreational Boating Market Insights Video

Competitive Landscape of the Recreational boating Market

The competitive landscape of the recreational boating market is characterized by intense rivalry among manufacturers, dealers, and service providers striving to capture market share and differentiate their offerings. Key competitive factors include product quality, innovation, pricing, distribution channels, and customer service. Companies vie to develop cutting-edge technologies, eco-friendly solutions, and customizable features to meet diverse consumer preferences. Additionally, strategic partnerships, marketing initiatives, and brand reputation play crucial roles in shaping competitive dynamics and influencing consumer purchasing decisions.

Top Companies Market Share in Recreational Boating Industry: (In no particular order of Rank)

• Brunswick Corporation
• Yamaha Motor Company
• Groupe Beneteau
• Ferretti Group
• Malibu Boats
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Regional Analysis of Recreational boating Market

Which Region Dominates the Recreational boating Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to several factors. Firstly, the region boasts a large population of affluent consumers with high disposable incomes, enabling robust demand for luxury boats and yachts. Secondly, the extensive coastline and abundant inland waterways offer ample opportunities for recreational boating, attracting enthusiasts and tourists alike. Additionally, favorable boating regulations and infrastructure investments further stimulate market growth. Moreover, technological advancements and a strong boating culture contribute to sustained sales expansion in North America.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the recreational boating market for several reasons. Firstly, rapid urbanization and rising disposable incomes in countries like China and India are driving increased consumer spending on leisure activities, including boating. Secondly, the region's vast coastline, numerous islands, and picturesque water bodies provide ample opportunities for recreational boating, fostering demand for boats and related services. Additionally, growing tourism and the emergence of marine leisure destinations further propel market growth. Moreover, government initiatives promoting marine tourism and infrastructure development contribute to the region's burgeoning recreational boating industry.

The current report Scope analyzes Recreational Boating Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

North America Recreational Boating

According to Cognitive Market Research, the global recreational boating market size was estimated at USD 18542.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 7416.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, The United States recreational boating market had a market share of USD 5851.92 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. In the U.S., sales of recreational boating will increase due to the country's vast coastline, affluent population, and growing interest in outdoor leisure activities, driving demand for boats and marine equipment.
• Canada's recreational boating market reached USD 890.03 million in 2024, with a CAGR of 5.0% expected during the forecast period. In Canada, sales of recreational boating are expected to rise as a result of increasing disposable incomes, a strong boating culture, and the availability of numerous lakes and rivers for boating enthusiasts.
• Mexico's recreational boating market amounted to USD 674.94 million in 2024, projected to grow at a CAGR of 4.7% during the forecast period.

Europe Recreational Boating

According to Cognitive Market Research,  the global Recreational boating market size was estimated at USD 18542.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 5562.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom's recreational boating market stood at USD 934.53 million in 2024, with a projected CAGR of 5.3% during the forecast period. The United Kingdom will see an increase in recreational boating sales due to its island geography, popularity of coastal tourism, and government initiatives supporting marine leisure activities and infrastructure development.
• France's recreational boating market had a market size of USD 511.76 million in 2024, and it is expected to grow at a CAGR of 3.7% during the forecast period.
• Germany's recreational boating market was valued at USD 1101.41 million in 2024, with a projected CAGR of 4.7% during the forecast period. In Germany, sales of recreational boating will increase thanks to the country's strong economy, large population of water enthusiasts, and investment in sustainable boating solutions and waterfront infrastructure.
• Italy's recreational boating market reached USD 478.39 million in 2024, and it is projected to grow at a CAGR of 3.9% during the forecast period.
• Russia's recreational boating market amounted to USD 862.21 million in 2024, with a forecasted CAGR of 3.5% during the forecast period.
• Spain's recreational boating market stood at USD 456.14 million in 2024, and it is expected to grow at a CAGR of 3.6% during the forecast period.
• Luxembourg's recreational boating market had a market size of USD 172.44 million in 2024, projected to grow at a CAGR of 4.6% during the forecast period.
• Portugal's recreational boating market reached USD 116.82 million in 2024, with a projected CAGR of 4.3% during the forecast period.
• Greece's recreational boating market amounted to USD 66.75 million in 2024, and it is expected to grow at a CAGR of 4.8% during the forecast period.
• Rest of Europe's recreational boating market stood at USD 862.21 million in 2024, with a forecasted CAGR of 3.2% during the forecast period.

Asia Pacific Recreational Boating

According to Cognitive Market Research, the global Recreational boating market size was estimated at USD 18542.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 4264.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, China's recreational boating market had a market size of USD 1919.12 million in 2024, projected to grow at a CAGR of 7.5% during the forecast period.
• Japan's recreational boating market reached USD 588.53 million in 2024, with a projected CAGR of 6.5% during the forecast period. China's recreational boating sales will rise due to its growing middle class, expanding coastal tourism, and government support for recreational activities, driving demand for luxury yachts and water sports equipment.
• India's recreational boating market amounted to USD 511.76 million in 2024, and it is expected to grow at a CAGR of 9.8% during the forecast period. In India, recreational boating sales will increase owing to rising urbanization, a burgeoning affluent class, and growing interest in leisure pursuits, leading to demand for boats and water recreation facilities.
• South Korea's recreational boating market stood at USD 426.47 million in 2024, and it is projected to grow at a CAGR of 7.1% during the forecast period.
• Australia's recreational boating market had a market size of USD 221.76 million in 2024, projected to grow at a CAGR of 7.7% during the forecast period.
• South East Asia's recreational boating market reached USD 294.26 million in 2024, with a forecasted CAGR of 9.0% during the forecast period.
• Rest of Asia Pacific's recreational boating market amounted to USD 302.79 million in 2024, and it is expected to grow at a CAGR of 7.8% during the forecast period.

South America Recreational Boating

According to Cognitive Market Research, the global Recreational boating market size was estimated at USD 18542.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 927.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

• According to Cognitive Market Research, Brazil's recreational boating market stood at USD 396.80 million in 2024, and it is projected to grow at a CAGR of 6.0% during the forecast period. Brazil will experience growth in recreational boating sales due to its extensive coastline, water-rich geography, and rising interest in marine tourism and leisure activities among the population.
• Argentina's recreational boating market had a market size of USD 155.75 million in 2024, with a projected CAGR of 6.3% during the forecast period. Argentina's recreational boating sales will increase as a result of its diverse waterways, popularity of sailing and fishing, and government efforts to promote tourism and water sports.
• Colombia's recreational boating market reached USD 82.51 million in 2024, and it is expected to grow at a CAGR of 5.2% during the forecast period.
• Peru's recreational boating market amounted to USD 76.02 million in 2024, with a forecasted CAGR of 5.6% during the forecast period.
• Chile's recreational boating market stood at USD 66.75 million in 2024, with a projected CAGR of 5.7% during the forecast period.
• Rest of Latin America's recreational boating market had a market size of USD 149.26 million in 2024, and it is expected to grow at a CAGR of 4.5% during the forecast period.

Middle East and Africa Recreational Boating

According to Cognitive Market Research, the global Recreational boating market size was estimated at USD 18542.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 370.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.

• GCC Countries' recreational boating market reached USD 158.72 million in 2024, projected to grow at a CAGR of 6.5% during the forecast period. GCC Countries will see a boost in recreational boating sales due to their high disposable incomes, luxury tourism infrastructure, and favorable climate for year-round boating and water-based leisure activities.
• Egypt's recreational boating market had a market size of USD 38.94 million in 2024, with a forecasted CAGR of 6.0% during the forecast period.
• South Africa's recreational boating market stood at USD 58.59 million in 2024, and it is expected to grow at a CAGR of 6.7% during the forecast period. South Africa's recreational boating sales will rise due to its stunning coastal scenery, growing interest in marine leisure activities, and government initiatives to develop waterfront infrastructure and promote tourism.
• Turkey's recreational boating market amounted to USD 31.89 million in 2024, with a projected CAGR of 5.2% during the forecast period.
• Nigeria's recreational boating market reached USD 38.94 million in 2024, with a forecasted CAGR of 4.8% during the forecast period.
• Rest of MEA's recreational boating market had a market size of USD 43.76 million in 2024, and it is expected to grow at a CAGR of 4.7% during the forecast period.

Recreational Boating Market Analysis

Recreational boating Market Boat Type Segment Analysis

According to Cognitive Market Research, personal watercrafts stands out as the dominating category due to their accessibility and versatility, appealing to a wide range of consumers seeking thrilling water adventures. Their compact size makes them ideal for individuals and families looking for agile and maneuverable vessels for recreational use. Additionally, advancements in technology have led to the development of more fuel-efficient and environmentally friendly models, further driving sales. Moreover, their relatively affordable price points compared to larger boats contribute to their popularity.

Yachts emerges as the fastest-growing category in the recreational boating market due to several factors. Firstly, an increasing number of affluent individuals are seeking luxurious and exclusive experiences, driving demand for high-end yachts equipped with state-of-the-art amenities and customization options. Secondly, rising interest in luxury travel and leisure pursuits among high-net-worth individuals fuels demand for yacht ownership and charter services. Additionally, yacht manufacturers' focus on innovation and design excellence attracts discerning buyers, further propelling sales in this segment.

• Yachts
• Sailboats
• Personal Watercrafts
• Inflatables
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Recreational Boating Industry. Request a Free Sample PDF!

Recreational boating Market Boat Size Segment Analysis

According to Cognitive Market Research, the dominating category is <30 feet benefits from its affordability and accessibility, appealing to a wide range of consumers, including first-time boat buyers and those seeking smaller, more manageable vessels for day trips and recreational outings. Additionally, advancements in design and technology have led to the development of compact boats with improved performance and comfort features, further driving sales. Moreover, the versatility of smaller boats makes them suitable for various activities, from fishing to watersports, attracting a diverse customer base.

The fastest-growing category in the recreational boating market is 30-50 feet experiences increasing demand due to several factors. Firstly, this size range offers a balance between spaciousness and maneuverability, appealing to buyers seeking larger vessels for extended cruising or entertaining guests. Secondly, advancements in materials and construction techniques have resulted in more efficient and luxurious boats within this size range, enhancing their attractiveness to affluent buyers. Additionally, growing interest in coastal living and luxury boating experiences fuels demand for mid-sized yachts and cruisers, driving sales growth in this segment.

• <30 Feet
• 30-50 Feet
• >50 Feet

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Recreational Boating market report 2024 Edition by contacting our team.

Recreational Boating Engine Placement Segment Analysis

According to Cognitive Market Research, the dominating category is outboards due to several reasons. Firstly, outboard engines offer versatility and ease of maintenance, making them popular among recreational boaters and commercial operators alike. Secondly, advancements in outboard technology, such as fuel efficiency and digital controls, attract buyers seeking reliable and high-performance propulsion systems. Additionally, the availability of a wide range of outboard models catering to different boat sizes and applications contributes to their dominance in the market.

The fastest-growing category in the recreational boating market is inboards driven by several factors. Firstly, inboard engines are favored for their power and torque, making them ideal for larger vessels and water sports activities like wakeboarding and waterskiing. Secondly, technological innovations in inboard engine design, such as hybrid and electric options, appeal to environmentally conscious buyers seeking sustainable propulsion solutions. Additionally, the growing popularity of luxury yachts and cruisers equipped with inboard engines contributes to the segment's rapid sales growth.

• Outboards
• Inboards
• Others

Recreational Boating Engine Type Segment Analysis

According to Cognitive Market Research, ICE stands out as the dominating category due to several factors. Firstly, ICE engines offer robust performance and proven reliability, appealing to traditional boaters and commercial operators. Secondly, the widespread availability of ICE-powered boats across various price points and boat types ensures continued demand. Additionally, established infrastructure for fueling and maintenance supports the popularity of ICE engines among boaters. Moreover, advancements in ICE technology, such as fuel efficiency and emissions reduction, further bolster their appeal.

Electric emerges as the fastest-growing category in the recreational boating market due to several compelling reasons. Firstly, increasing environmental consciousness drives demand for clean and sustainable boating solutions, positioning electric propulsion as an attractive option. Secondly, technological advancements in battery technology and electric motor efficiency enhance the performance and range of electric boats, overcoming previous limitations. Additionally, government incentives and regulations favoring eco-friendly propulsion systems accelerate the adoption of electric boats. Moreover, the growing availability of charging infrastructure further supports the growth of electric propulsion in the recreational boating market.

• ICE
• Electric

Recreational Boating Power Range Segment Analysis

According to Cognitive Market Research, the dominating category is up to 100 kW due to several factors. Firstly, boats in this power range are popular among entry-level boaters and those seeking cost-effective options for recreational outings. Secondly, advancements in engine technology and lightweight materials contribute to improved fuel efficiency and performance in smaller boats. Additionally, the affordability of boats with lower power ratings attracts a broad range of consumers, ensuring sustained sales in this segment.

The fastest-growing category in the recreational boating market is above 200 kW experiences increasing demand driven by several compelling reasons. Firstly, larger boats with higher power ratings offer superior performance and speed, catering to enthusiasts seeking thrilling experiences on the water. Secondly, the growing popularity of luxury yachts and high-performance vessels equipped with powerful engines contributes to the segment's rapid sales growth. Additionally, advancements in engine technology and hull design optimize efficiency and handling in boats with higher power ratings, further fueling demand.

• Up to 100 kW
• 100-200 KW
• Above 200 kW

Recreational Boating Material Type Segment Analysis

According to Cognitive Market Research, the dominating category is fiberglass due to several compelling factors. Firstly, fiberglass boasts durability, resistance to corrosion, and low maintenance requirements, making it a preferred choice among boat manufacturers and buyers. Secondly, the versatility of fiberglass allows for a wide range of boat designs and sizes to suit various recreational activities and preferences. Additionally, advancements in fiberglass composite technology continue to improve strength-to-weight ratios and enhance overall boat performance, ensuring continued dominance in the market.

The fastest-growing category in the recreational boating market is aluminum experiences increasing demand for several reasons. Firstly, aluminum boats offer lightweight construction, durability, and corrosion resistance, appealing to boaters seeking versatility and reliability. Secondly, the affordability of aluminum compared to other materials makes it an attractive option for budget-conscious buyers and commercial operators. Additionally, advancements in aluminum welding and fabrication techniques enhance structural integrity and design possibilities, further driving sales growth in this segment.

• Aluminum
• Fiberglass
• Steel
• Others

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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