Recreational Boat Market Expected to Reach Nearly $50 Billion by 2031

The global market for recreational boats is projected to approach $50 billion by 2031, according to a new analysis from Arizton Advisory & Intelligence. The market was valued at $37 billion in 2025 and is expected to grow at a compound annual growth rate of 5.08% over the forecast period.

Several factors are contributing to this market expansion. Increased consumer interest in water-based leisure activities and ongoing development in marina infrastructure are key drivers. The adoption of new technologies, such as electric and hybrid powertrains for boats, is also fueling growth, aligning with rising environmental awareness and stricter emissions regulations.

Regionally, North America and Europe remain significant markets for recreational boats. However, the Asia-Pacific region is anticipated to experience the most rapid growth, driven by a burgeoning middle class and increasing disposable income allocated to recreational pursuits.

The analysis also points to a growing demand for personal watercraft, including kayaks and stand-up paddleboards, indicating a broader trend in the leisure boating sector.