Leisure Boats Global Market Report 2022: Popularity of Nautical Tourism Underpins Expansion – ResearchAndMarkets.com
, 2022-07-07 07:13:00,
DUBLIN–(BUSINESS WIRE)–The “Leisure Boats – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The global market for Leisure Boats estimated at US$35 Billion in the year 2020, is projected to reach a revised size of US$44.5 Billion by 2026, growing at a CAGR of 4% over the analysis period.
Global Leisure Boats Market to Reach $44.5 Billion by 2026
Leisure boats are recreational boats intended for recreation, pleasure and tourism activity. The global market for these boats is bolstered by increasing disposable income and expansion of the tourism industry across emerging economies.
The market is gaining from increasing participation in competitive and recreational boating activity coupled with technological advances and introduction of connected boats. First-time boaters and lifelong enthusiasts are expected to continue driving demand for leisure boat market.
Demand is also boosted by consumer attention on luxury options and the ongoing trend to own accommodations and vacation homes near water-bodies. The introduction of leisure boats with advanced features such as digital dashboards, digital throttles and joystick controls is driving first-time sales.
The U.S. Market is Estimated at $15.1 Billion in 2021, While China is Forecast to Reach $4.3 Billion by 2026
The Leisure Boats market in the U.S. is estimated at US$15.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2026 trailing a CAGR of 5.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Popularity of Nautical Tourism Underpins Market Expansion
- Established Image of Chartering in Vacations Fuels Growth
- Leisure Boats Integrated with Advanced Technologies Come to the Fore
- Prominent Trends Benefitting Leisure Boat Market in Big Way
- GPS Tracking Technology
- Automated Boats
- Smart Boats Enter the Fray
- Adoption of AI Solutions Gains Momentum
- Digital Dashboards & Social Media
- Rising Significance of Software in Recreational Maritime Industry
- Rising Demand for Personalized Leisure Boats to Drive…
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