Frequently Asked Questions
In 2022, the market for recreational boats was estimated to be worth USD 16.9 billion.
The recreational boat market is anticipated to reach USD 26.7 billion in 2030, growing at a CAGR of 6.80% between 2023 and 2030.
In terms of revenue generation in 2022, the yacht category is the market leader.
The Fishing segment contributes the rest to the demand for recreational boats.
The electric sector is expected to grow at the highest CAGR rate in the worldwide market.
North America dominated the market in 2022, accounting for more than 44.4% of worldwide revenue.
The top players include Groupe Beneteau, Marine Products Corporation, Royal Caribbean Cruises Ltd, and Brunswick Corporation. Other major players include MCBC Holdings, Inc, Grand Banks Yachts Ltd, Porter, Inc, and Grady-White Boats, Inc..
Tourism and water sports are growing in popularity are the major market drivers.
The biggest market restrictions include strict emission regulations for recreational boats, environmental concerns, and high ownership costs.
The recreational boat industry’s primary opportunities are the online market for the sector, which may enhance sales in untapped markets and Drive Up Demand for Luxury Yachts.