The Rise of Leisure Boats: A Lucrative Market Opportunity Emerges
The Rise of Leisure Boats
The global leisure boat market is on the brink of a major expansion, poised to reach a valuation of USD 73.8 billion by 2032. The market has witnessed a surge in demand attributed to the resumption of tourism activities in the post-pandemic era.
Market Growth
The leisure boat market saw a remarkable increase from USD 46.2 billion in 2023 to the anticipated value of USD 73.8 billion in 2032, showing a CAGR of 5.3%. This growth trajectory underscores the rising popularity of leisure boats among consumers.
Versatile Applications
Leisure boats serve various recreational purposes such as fishing, small expeditions, and private gatherings. These watercraft are commonly utilized in lakes, dam backwaters, and beaches for a myriad of marine activities, including motorboats and kayaking.
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