The tourism industry has been changing drastically in recent times and with increasing popularity of marine and coastal tourism activities, the demand for leisure boats have increased over the years. A pleasure craft (or leisure boat) is a boat which is used for personal, family, and sometimes sportsmanlike recreation. Increasing number of boat shows and water sporting events are drawing a large number of boaters. Top manufacturers are sponsoring boat shows and events, which has strengthened the popularity of leisure boats. Also, recreational boating market players are focusing on incorporating various marine technologies in these pleasure crafts.
Basically, leisure boat is a large motorboat with a cabin and plumbing and other amenities required for living on board. Characteristically, such watercrafts are motorized and find use in holidays on a river, lake, canal or waterway. Leisure boating includes many activities such as boat racing, sailing, campaigning, fishing and other water sports game. Leisure boats are made up of plastic, aluminium, coated fabrics. Various types of leisure boats include runabouts, towboats, fishing boats, sailboats, pontoon boats, stern drive powerboats, jet boats, personal watercraft, propulsion systems, and cabin cruisers.
The global leisure boat market is set to experience favorable growth driven by factors such as increasing high net worth population, rising boating participation by adults, development of tourism industry, decrease in fuel prices, rapid urbanization and accelerating economic growth. The major trends observed in this market include increased sales of larger boats, innovations in materials used in boat building and technological advancements. However, the growth of this market is constrained by challenges such as environmental issues, adverse weather conditions and regulatory impact.
The report “Global Leisure Boat Market: Industry Analysis & Outlook (2019-2023)” analyses the development of this market, with focus on the U.S. and European markets. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The four major players: Malibu Boats Inc., Marine Products Corporation, MasterCraft and Bénéteau Group are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global leisure boat market along with the study of the regional markets.