Market Research Report
Leisure Boats Market Size By Product, By Type, By Propulsion System, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||979742|
|Published||Content info||250 Pages
Delivery time: 2-3 business days
|Leisure Boats Market Size By Product, By Type, By Propulsion System, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026|
|Published: December 28, 2020||Content info: 250 Pages||
Leisure Boats Market Size By Product (Bowrider, Catamaran, Cruiser, Pontoon, Yacht, Sailboat), By Type (Motorized, Non-Motorized), By Propulsion System (Diesel, Gasoline, Electric/ Hybrid, Sail Drive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026.
The leisure boats market is likely to gain substantial momentum over the coming years owing to expanding travel and tourism sector, increasing adoption of recreational activities across the globe, easy operability, and rapid emergence of electric boats.
Boat is a kind of watercraft that has been explicitly designed for navigating in the inland waterways or near-shore areas like lakes and rivers. Leisure or recreational boating is usually all about individuals relishing water activities with their boats in social and family-based environment. Leisure boats are also utilized mostly for numerous boating events comprising of all types of leisure boats whether small or large such as yacht or power boats.
In addition, manufactures are now rapidly integrating advanced technologies like smart sensors, artificial intelligence, and IoT in their boats in order to aid people enhance situational awareness, prevent loss or damage, making better informed decisions and accessing information remotely. Connecting these advanced onboard systems to main hub, boaters could easily track, monitor as well as control the operating systems of their boats while sitting at home, or one the water or road with just a simple touch on mobile application.
Connected boat technologies like Internet of Things will closely monitor the system of boat and would send in quick alerts since they happen through web or mobile apps. Thus, the increasing adoption of such advanced technologies is likely to fuel the growth of leisure boats market.
The leisure boats market is bifurcated in terms of product, type, propulsion type, and regional landscape.
In terms of product, the leisure boats market is classified into sailboat, yacht, pontoon, cruiser, catamaran, and bowrider. Among these, the catamaran segment will proliferate over the forecast timeline owing to the increasing recreational activities across the globe.
Unlike other types of boats, catamaran boat is a multi-hulled watercraft having nearly two parallel hulls of same size. In comparison to vessels with a single hull, these boats feature less hull volume, higher displacement and shallower draft. These boats are excellent for leisurely cruising abilities as well as for fishing purposes. In fact, apart from just leisure activities these are known to be built for numerous other purposes across the globe.
Based on type, the overall market is divided into non-motorized and motorized. Among these, motorized segment will witness a rapid growth over the coming years owing to the easy operability.
With respect to propulsion type, the leisure boats market is bifurcated into electric/hybrid, gasoline, and diesel. Among these, Electric/Hybrid segment is expected to witness a steady demand owing to rapid emergence of electric boats.
From a regional frame of reference, Latin America leisure market will witness substantial growth over the forecast timeline owing to the rapid increase in the travel and tourism segment. While the COVID-19 pandemic has severely impacted the tourism sector across the globe due to the restrictions imposed on international travel, steady movement toward re-opening the economies, is expected to kick off a stable recovery trend in the forthcoming time, with the leisure boats industry showcasing a decent jump in revenues.