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Recreational Boating Market Size (2024 - 2029)

The recreational boating market is experiencing growth after a downturn due to the COVID-19 pandemic, which had muted recreational activities and impacted revenues. The recovery of the tourism sector in key regions has contributed to this growth. The industry is gaining traction as it competes with other luxury leisure activities, driven by increasing participation in watersports tourism, particularly among younger generations. Despite representing a small portion of the global leisure industry, the market's share is expected to expand over the forecast period, although varying costs of boats may pose challenges.

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Market Size of Recreational Boating Industry

Recreational Boating Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 27.32 Billion
Market Size (2029) USD 36.78 Billion
CAGR (2024 - 2029) 5.10 %
Fastest Growing Market North America
Largest Market North America
Market Concentration Medium

Major Players

Recreational Boating Market Major Players

*Disclaimer: Major Players sorted in no particular order

Recreational Boating Market Analysis

The Recreational Boating Market size is estimated at USD 27.32 billion in 2024, and is expected to reach USD 36.78 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).

Due to the COVID-19 pandemic and with the travel restrictions and social distancing norms imposed, all recreational activities were muted. Consequently, the recreational boating market saw a dip in its revenues. With no public movement and the down phase of the global economy, neither new purchases were made, nor any transactions occurred. This forced the market toward economic downfall. However, with the recovery of the tourism sector in 2021 across major geographies in the North American and European regions, the market is seeing growth.

The recreational boating industry continues to attract large volumes of participants competing strongly with rival luxury leisure pursuits. It is estimated that there are at least 140 million active boaters and watersports participants worldwide, including almost 100 million across the United States and Canada, a further 36 million across Europe, and more than 5 million in Australia.

Over the long-term, the growth in the watersports tourism industry is majorly driving the recreational boating market. Rising attraction toward recreation activities and watersports from millennial and post-millennial generations is further boosting the demand in the market studied. However, dynamics in the cost range of diversified boats might serve as a challenge.

At present, the recreational boating industry represents a small percentage of the overall global leisure industry; however, the share of recreational boats is anticipated to grow over the forecast period.

Recreational Boating Industry Segmentation

The scope of the report covers the latest trends and technologies followed by COVID-19 impact on the market. The recreational boating report covers segmentation based on Boat Type, Application, Power Source, and Geography.

By Boat Type, the market is segmented into Inboard Boats, Outboard Boats, Personal Watercraft Boats, and Other Boat Types.

By Application, the market is segmented into Watersports and Fishing.

By Power Source, the market is segmented into Internal Combustion Engine and Electric. 

and Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. 

The report offers market size and forecast for all the above segments in value (in USD Billion).

By Boat Type
Inboard Boats
Outboard Boats
Personal Watercraft Boats
Other Boat Types
By Application
Watersports
Fishing
By Power Source
IC Engine
Electric Power
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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Recreational Boating Market Size Summary

The recreational boating industry is experiencing a resurgence following the challenges posed by the COVID-19 pandemic, which had initially led to a decline in market activity due to travel restrictions and economic downturns. As global tourism began to recover in 2021, particularly in North America and Europe, the industry started to regain its momentum. The sector is characterized by a significant number of active participants, with millions engaged in boating and watersports worldwide. This growing interest is largely driven by the appeal of outdoor recreational activities, which have gained popularity among younger generations. Despite being a smaller segment of the global leisure industry, the recreational boating market is poised for growth, supported by the increasing health benefits associated with watersports and the trend of domestic boating.

The market is further bolstered by innovations and expansions within the industry, as companies like Tiaga and Sportsman Manufacturing Inc. invest in new technologies and increased production capacities. The trend towards electric watercraft and sustainable practices, such as the partnership between Vision Marine Technologies and Groupe Beneteau, highlights the industry's commitment to modernization and environmental responsibility. In regions like the United States and Canada, boating remains a significant contributor to the economy, with substantial revenue generation and GDP impact. The market's fragmented nature sees major players like Brunswick, Ferretti, and Azimut-Benetti competing for market share, while also exploring new opportunities to meet the rising demand for recreational boating experiences.

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Recreational Boating Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in USD Billion)

    1. 2.1 By Boat Type

      1. 2.1.1 Inboard Boats

      2. 2.1.2 Outboard Boats

      3. 2.1.3 Personal Watercraft Boats

      4. 2.1.4 Other Boat Types

    2. 2.2 By Application

      1. 2.2.1 Watersports

      2. 2.2.2 Fishing

    3. 2.3 By Power Source

      1. 2.3.1 IC Engine

      2. 2.3.2 Electric Power

    4. 2.4 By Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 South America

        2. 2.4.4.2 Middle-East and Africa

Recreational Boating Market Size FAQs

The Recreational Boating Market size is expected to reach USD 27.32 billion in 2024 and grow at a CAGR of 5.10% to reach USD 36.78 billion by 2029.

In 2024, the Recreational Boating Market size is expected to reach USD 27.32 billion.

Recreational Boating Market Report Snapshots

Recreational Boating Market Trends - Industry Analysis, Size & Forecast Report (2024 - 2029)