Fior Markets launched a study titled “Leisure Boat Market by Leisure Boat Type (MotorizedBoat, Non-MotorizedBoat), Material, Technology, Application (Commercial, Household, Military, Others), Region” and Global Forecast 2019-2026.
The global leisure boat market is expected to grow from USD 38.48 billion in 2018 to USD 56.26 billion by 2026 at a CAGR of 4.20% during the forecast period from 2019-2026. Increasing high net worth population and wealth, growing popularity of connected boats, and increase in the spending on recreation and tourism activities are the drivers lifting the demand of the market.
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Motorized boat segmentheld highest market size around USD 20.46 billion in 2018
Leisure boat type segment includes motorized boat and non-motorizedboat. The motorized boat segment held highest market size around USD 20.46 billion in 2018 owing to increased use of boats in water sports, growing number of vessel manufacturers, easy financing options made available by manufacturers, and adoption of new technologies.
IoT technologies & electronics segment held highest market size around USD 15.16 billion in 2026
Technology segment covers engine & engine controls, IoT technologies & electronics, equipment, others. The IoT technologies & electronics segment held highest market size around USD 15.16 billionin 2026. The implementation of IoT technologies, GPS mapping, and smart sensors in boats increases safety and security of the boat. This has further increased the growth rate of the IoT technologies & electronics segment.
Commercial segment is anticipated to hold the largest share of 41.32% during the forecast period
Application segment is categorized into commercial, household, military, and others. The commercial segment is anticipated to hold the largest share of 41.32% during the forecast period owing to increasing customer engagement in leisure activities such as fishing and sailing.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region dominated theglobal leisure boatmarket with market share of 39.37%in 2018. Increasing customer engagement towards water sports and fishing activities, improving economic conditions and rising disposable income of consumers are factors that led to the growth of leisure boat market in North America region.
The major players of market include are Avon Marine,AzimutBenettiS.p.A., Bombardier Recreational Products (BRP) Inc., Baja Marine, Bavaria Yachtbau GmbH, Brunswick Corporation, Farr Yacht Design, Ltd., Brunswick Corporation, Suzuki Motor Corporation, Zodiac Marine & Pool, Fountain Powerboat Industries Incorporated, General Motors Company, Brunswick Corporation, Bombardier Recreational Products Incorporated, GroupeBeneteau, Platinum Equity, Sealine Attwood, Avon Inflatables, Azimut-Benetti,and GroupeBeneteau.
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