Latest News- Leisure Boat Market: Leisure boat accessories is expected to lead the Product segment during 2025-2029

The Leisure Boat Market is being driven by Increasing customer engagement in marinas and recreational boating activities

The Leisure Boat Market is expected to grow at a CAGR of 5.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 25.1 billion. The leisure boat industry confronts a significant environmental concern with emissions from recreational watercraft. Greenline Yachts addresses this issue with their innovative hybrid-powered yacht, the Greenline 48 Coupe. Equipped with a hybrid propulsion system and solar panels, this vessel enables both electric and diesel engine operation. Fountaine Pajot, a renowned catamaran manufacturer, also introduces the MY4.S power catamaran, featuring a similar hybrid propulsion system. The cost-effective benefits of hybrid propulsion systems include increased fuel efficiency and savings for boat owners. Greenline Yachts further unveils a hybrid-powered Inboard Performance System (IPS) concept, underscoring the industry's shift towards eco-friendly technologies. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Leisure boat accessories
  • Leisure boat motors
  • Leisure boat building
• Propulsion
  • Diesel
  • Gas
  • Hybrid
  • Sail drive
• Type
  • Motorized
  • Non-motorized
• Distribution Channel
  • Dealerships
  • Online Sales
  • Boat Shows
• Application
  • Recreation
  • Fishing
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing customer engagement in marinas and recreational boating activities
• Increasing demand for outboard powerboats
• Technological integration in leisure boats

However, the market also witnesses some limitations, which are as follows:

• High total cost of ownership of leisure boats
• Declining leisure boat registrations due to increasing maritime accidents
• Stringent regulations in leisure boat industry

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Market Scope in Leisure Boat Market Research Report

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Research Analysis Overview

The Leisure Boat Market is witnessing significant advancements with the integration of hybrid propulsion systems, renewable energy sources, and lightweight materials such as carbon fiber. Solar panels and wind turbines are becoming common for powering electric motors, enhancing eco-friendliness. Hydrodynamic efficiency, noise reduction, and vibration damping are prioritized for improved performance and comfort. Corrosion resistance, weather forecasting, and advanced navigation systems including AIS transponders, chart plotters, depth sounders, fish finders, automatic bilge pumps, fire suppression, life rafts, and personal floatation devices ensure safety. Comfort features, engine monitoring, remote diagnostics, hull maintenance, coating technology, deck design, cabin layout, storage solutions, and electronic charting are other essential aspects of modern leisure boats.

Market Research Overview

The global leisure boat market is a significant segment of the broader household durables industry, encompassing hull design, marine propulsion systems, navigation systems, and electrical systems. According to Technavio, the household durables market size is determined by the consolidated revenue of manufacturers in categories such as consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Market expansion will be fueled by several factors, including the rise in health and fitness club memberships, which have seen consistent growth in recent years, and the increasing number of clubs opening in response to industry prospects.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/