The Europe Leisure Boat Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030).
The elegant accommodations on the pleasure yacht are wide and are constructed of the highest quality materials, including wood, plastic, aluminum, and coated fabrics. Additionally, it offers cutting-edge propulsion technologies and several accommodations for visitors staying overnight. Two elements that have significantly increased the popularity of recreational boating are the growing adult fascination with boating and the rising levels of disposable money. These elements motivate people to engage in leisure activities, resulting in growth prospects for market.
Consumers' increasing awareness of the numerous advantages of incorporating technology into conventional boats is expected to drive market growth in the coming years. Manufacturers are rapidly integrating cutting-edge technologies into the boats, such as IoT, AI, and smart sensors, to give users features like GPS tracking, automatic controls, and smart connect. Additionally, incorporating such technologies helps owners enhance boat security and safety, improving their propensity to surf in deep waters.
Europe is one of the world's most popular locations for luxurious water sports destinations and resorts. From the Mediterranean to the south coast of England, Europe is entitled to various beautiful natural coastlines where tourists can engage in multiple adventurous activities. It is ideal for water sports activities because numerous locations are around, and they all experience identical wind conditions. The perfect summer vacation spot for water sports lovers. A large base of these travellers is predicted to be engaged in adventurous activities. The market is anticipated to expand due to the rising popularity of water activities and an increase in tourism in this region.
The Germany market dominated the Europe Leisure Boat Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,962.3 Million by 2030. The UK market is exhibiting a CAGR of 3.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.5% during (2023 - 2030).
Based on Product, the market is segmented into Motorized (Yacht, Personal Watercraft, Outboard Boats, and Others), and Non-Motorized. Based on Type, the market is segmented into Used, and New. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Leisure Boat Market is Projected to reach USD 61.7 Billion by 2030, at a CAGR of 5.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Bombardier Recreational Products (BRP) Inc., Brunswick Corporation, Marine Products Corporation (Chaparral Boats, Inc.), Ferretti S.p.A., Avon Marina, Azimut Benetti Group, Fountain Powerboats Group (Iconic Marine Group), Bavaria Yachtbau, Farr Yacht Design Ltd. and Sunseeker International (Wanda Group).
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