Boat Leisure Market to see Huge Growth by 2029

 

The global boat leisure market is anticipated to grow at a significant CAGR of 5.1% during the forecast period. The modern boat layouts including the Gen-Z category attracts customers towards them. Additionally, the integration of advanced technologies including IoT, AI, and smart sensors provides various convenient facilities including GPS tracking and automatic control. Such a technologically supported boating facility provides safety and security to the customers which inclines customer's interest towards surfing deep waters. On the other hand, a significant growth in recreational boating activities and increasing per capita income in various countries including China, Australia, and Japan are also expected to drive the market growth. The supportive government initiatives through increasing investment in the tourism sector, infrastructural development, and easing regulatory framework will further upthrust the market growth. 

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However, the increased maritime accidents are a major challenging factor for the market growth. According to the Allianz SE, a total of 2,185 shipping accidents were recorded in 2019, in which 41 large ships were completely lost. The six days blockage of the Suez Canal in March 2021 is another major instance that had costed a loss of $9.6 billion per day as Ever Given container ship got stuck.

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·         Market Coverage

·         Market number available for – 2023-2029

·         Base year- 2022

·         Forecast period- 2023-2029

·         Segment Covered- By Source, By Product Type, By Applications

·         Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill 

·         Inc., and others

Global Boat Leisure Market Report Segment

By Boat Type

• Motorized/Power Boats 

o          Super Yachts

o          Flybridge Yachts

o          Sport Yachts

o          Long Range Yachts

o          Others

• Non-Motorized Boats

o          Kayaks

o          Canoes

o          Others

By Monitoring Equipment

• Boat and Yacht Monitoring Solutions
• IoT Sensors 

o          Water Detection Sensors

o          Voltage Meters

o          Temperature & Motion Sensors

• Telematics Solutions
• Others

Global Boat Leisure Market Report Segment by Region

North America

• US
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global boat leisure market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.

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