The North America Leisure Boat Market would witness market growth of 4.6% CAGR during the forecast period (2023-2030).
One of the primary factors of the market’s expansion is the increased disposable income of people and the growing tourism industry in emerging nations. Additionally, it is predicted that the growth will be boosted by the increasing number of people who engage in recreational and competitive boating activities regionally.
Also, technological developments that will result in the deployment and widespread use of connected boats are anticipated to propel growth over the forecast period. The market comprises boat and engine manufacturers, independent dealers, service providers, and equipment suppliers. A leisure boat is a commercial marine craft primarily used for delight and tourism.
Popular recreational boats, including sailboats, runabouts, towboats, cabin cruisers, jet boats, and watercraft, can be bought. These boats can be either motorized or non-motorized. People frequently use them in boating, sailing, fishing, and campaigning. Boating has become one of the most popular leisure activities in many areas and nations since it allows individuals to enjoy themselves while keeping a social distance, increasing the number of people owning boats.
Canada's many lakes and rivers offer a wide range of fun-in-the-sun water sports activities. Among the many popular pursuits include boating, water skiing, jet skiing, etc. Numerous renowned rivers and lakes have facilities & services for water sports enthusiasts. Boat launches, piers, docks, moorage, and marinas are a few services & activities. In addition, Canada offers extra services, including sightseeing excursions, sailing guidance, and boat rentals. More than $15 million in non-federal matching funds will be contributed by the states and other contributors to support these initiatives. It is projected that the growing popularity of water sports and boats will drive the market in North America region.
The US market dominated the North America Leisure Boat Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $18,704.2 Million by 2030. The Canada market is experiencing a CAGR of 7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6% 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 U.S., Mexico, Canada, and Rest of North America.
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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