Market Size of Recreational Boating Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 27.32 Billion |
| Market Size (2029) | USD 36.78 Billion |
| CAGR (2024 - 2029) | 5.10 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Recreational Boating Market Analysis
The Recreational Boating Market size is estimated at USD 27.32 billion in 2024, and is expected to reach USD 36.78 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).
Due to the COVID-19 pandemic and with the travel restrictions and social distancing norms imposed, all recreational activities were muted. Consequently, the recreational boating market saw a dip in its revenues. With no public movement and the down phase of the global economy, neither new purchases were made, nor any transactions occurred. This forced the market toward economic downfall. However, with the recovery of the tourism sector in 2021 across major geographies in the North American and European regions, the market is seeing growth.
The recreational boating industry continues to attract large volumes of participants competing strongly with rival luxury leisure pursuits. It is estimated that there are at least 140 million active boaters and watersports participants worldwide, including almost 100 million across the United States and Canada, a further 36 million across Europe, and more than 5 million in Australia.
Over the long-term, the growth in the watersports tourism industry is majorly driving the recreational boating market. Rising attraction toward recreation activities and watersports from millennial and post-millennial generations is further boosting the demand in the market studied. However, dynamics in the cost range of diversified boats might serve as a challenge.
At present, the recreational boating industry represents a small percentage of the overall global leisure industry; however, the share of recreational boats is anticipated to grow over the forecast period.
