Major players in the leisure boat market are Azimut Benetti Group, Baja Marine, Bavaria Yachtbau GmbH, Brunswick Corporation, Ferretti S. P. A. , Fountain Powerboats, Inc. , Catalina Yachts, Avon Marina, Chaparral Boats, Inc.

New York, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Leisure Boat Global Market Report 2022" - https://www.reportlinker.com/p06325422/?utm_source=GNW
, Farr Yacht Design, Ltd., Groupe Beneteau, Malibu Boats, Polaris Inc., MasterCraft Boat Company, AB Volvo, and Marine Product Corporation.

The global leisure boat market is expected to grow from $38.04 billion in 2021 to $40.61 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The leisure boat market is expected to reach $49.22 billion in 2026 at a CAGR of 4.9%.

The leisure boat market consists of sales of leisure boats and related products by entities (organizations, sole traders, and partnerships) that refers to a large boat used to carry passengers along rivers, lakes, or across the sea for spending leisure time, travelling, recreational, entertainment purposes and others.These boats sometimes have luxurious features such as lodging, cabins, and other amenities.

Some leisure boats include yachts, outboard motors, cruises, kayaks, canoes, and others.

The main types of leisure boats are yachts, sailboats, personal watercraft, inflatables, and other types.The yacht refers to a vessel having sails and occasionally an engine, used for leisure or competitive sailing.

The size of yacht ranges from small to large, and it is widely used for recreational activities.The leisure boats use various power sources such as engine-powered, sail-powered, and human-powered.

The types of materials used in the manufacturing of leisure boats include aluminum, fiberglass, steel, and other materials. They are used for fishing, transportation, sports, travel and tourism, and other applications.

North America was the largest region in the leisure boat market in 2021.Western Europe is expected to be the fastest-growing region in the forecast period.

The regions covered in the leisure boat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The leisure boat market research report is one of a series of new reports that provides Leisure boat market statistics, including leisure boat industry global market size, regional shares, competitors with aaleisure boat market share, detailed leisure boat market segments, market trends and opportunities, and any further data you may need to thrive in the leisure boat industry. This leisure boat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing tourism is expected to propel the growth of the leisure boat market.Tourism is a social, cultural, and economic phenomenon that involves individuals travelling to nations or locations beyond their typical surroundings for personal or business/professional reasons.

The rapid growth in tourism over the past decade is due to increased disposable income, access to various locations, the urge to explore, and others.Leisure boat aids the tourism industry by carrying passengers to their desired travel destination and providing a luxurious experience to the tourists.

For instance, according to a report published by the United Nations World Trade Organization (UNWTO) in 2022, global tourism increased from 400 million in 2020 to 415 million in 2021, showing an increase of 4% in 2021 over the previous year. Therefore, the increased tourism is expected to boost demand for leisure boats during the forecast period.

Technological advancement is a key trend gaining popularity in the leisure boat market.In the leisure boat sector, artificial intelligence is being widely used to optimize routes, lower emissions, and reduce instances of human mistakes through the use of highly developed AI systems.

For instance, in December 2020, Buffalo Automation, a US-based start-up that specializes in artificial intelligence and creates autonomous navigation technology for water taxis, leisure boats, and commercial ships, launched Greycraft Water Taxi.It is the first completely autonomous, AI-driven robotaxi that can transport passengers.

The system uses AI, neural networks, and thermal imaging technologies to detect even the most minor obstacles and safety concerns, issuing important alerts and assisting in securely navigating around them. It is a stable, secure, and safe mode of transportation.

In May 2021, Limestone Boat Company Limited, a Canada-based company that designs, manufactures, and distributes boats, acquired Ebbtide Holdings for an undisclosed amount.Through this acquisition, Limestone will achieve a quick and sustained expansion.

Along with the addition of the Boca Bay and Ebbtide trademarks, the merging of the iconic names Limestone and Aquasport ensures continuity in the company’s reputation for quality, performance, and safety. Ebbtide is a US-based boat manufacturer that manufactures the Aquasport and Boca Bay brands.

The countries covered in the leisure boat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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