Leisure Boats Market Outlook By By Regional Statistics & Growth Forecast 2021-2026
Leisure boats market is anticipated to rise steadily owing to leniency in lockdown restrictions. Leisure boats mainly comprise of cruiser, bowrider, yacht, sailboat, catamaran, and pontoon. These are either motorized or non-motorized. Rising focus on the integration of advanced technologies such as automated control systems, sensors and IoT into cruiser boats could boost overall industry share.
Robust advancements in the tourism sector and rising inclination of travelers to coastal tourist destinations could augment new growth strides in the leisure boats market. Despite numerous challenges faced due to the ongoing COVID-19 pandemic.
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Bowrider leisure boats are expected to witness significant adoption over the forecast timeframe. Bowrider boats are available in an extensive range of options, ranging from 18 feet to 35 feet, and are also found in the form of hybrid fish-and-ski models.
Gasoline leisure boats market is projected to grow substantially on the back of their significantly lower price in comparison to diesel and hybrid boats. Gasoline has a higher power to weight ratio than diesel. Gasoline leisure boats need less maintenance as well as experience less wear and tear of the engine parts than their diesel counterparts.
Considering growing product demand, technology providers are working on new product launches for integration with leisure boats. They are also building strategic partnerships with other companies in order to enhance their market position. Active players in the leisure boats industry include Boatrax, Malibu Boats Inc., Beneteau Group, Azimut Yachts, Ferretti S.p.A, and Marine Products Corporation.
Leisure boats market may register around USD 42 billion by 2026. This growth can be attributed to rising product adoption in pleasure & recreational boating activities along with the presence of various key industry players in Europe and North America.
Companies operating in the leisure boats market are developing advanced products. For instance, in 2019, Telit, a global IoT provider, announced a partnership with vessel tracking firm Boatrax for the creation of an innovative, Smart IoT boat monitoring solution that enables real-time monitoring and aggregation of key data about boat performance and owner behavior.
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Partial Chapter of the Table of Content
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Definitions & forecast parameters
1.1.1 Definitions
1.1.2 Methodology and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Leisure boats market 360° synopsis, 2016 – 2026
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Type trends
2.1.4 Propulsion system trends
2.1.5 Regional trends
Chapter 3 Leisure Boats Market Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on leisure boats industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
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