- Sailing vessels
- Powered vessels
North America Marine Vessels Market size was volume at 309.4 thousand units in 2023 and is poised to grow at a CAGR of 3.1% from 2024-2030. The North American Marine Vessels market encompasses a wide range of boats and ships used for various purposes, including recreational, and commercial activities. This market includes different types of vessels such as yachts, motorboats, sailboats, fishing boats, and cargo ships. The country is surrounded by water bodies and the presence of several water bodies makes it a suitable place for this market to thrive. Growing recreational boating and an increase in interest in water-based sports, Economic growth and stability which leads to higher disposable incomes, Technological advancements, and the development of suitable port infrastructure are acting as the main drivers of the market. COVID-19 acted as a barrier during the period of lockdown, later during the period of post-lockdown the market boomed to its 15-year high. This is because of the rise in recreational activities which included marine-based activities also the disposable income hoarded during the period of lockdown.
Moreover, high ownership costs don’t let everyone own a marine vessel, the image of it being a presence of luxury adds up to the moderation. Also, the environmental concerns of the vessels to make it comply with the regulations make manufacturing much harder. Additionally, the availability of choices in leisure activities makes its contribution to the restraints. Even then, the seasonal nature of the marine-based activities adds up to the restraints. To surpass all the moderations, manufacturers invest in eco-friendly technologies, and rental or charter services for boats act as the opportunity for the market players. Technological advancement leading to comfortableness and making the vessels comply with emission control regulations sums up the opportunities for the market. Advanced hull designs which provide much more aerodynamic efficiency, advanced propulsion or fuel injection systems for high fuel efficiency, and hybrid propulsion systems are the recent trends in this market. Electrifying the vessels using advanced lithium-ion batteries, and the introduction of hydrogen-propelled vessels are not a thing of the future anymore, they are the recent advancements and current top trends in the industry. Lastly, climate change and its recent activism moments, strict environmental regulations on high-emission vessels, recent economic downturns of the country, and supply chain disruptions for the sourcing of raw materials are the threads of this market.
The increasing popularity of recreational boating activities, such as fishing, sailing, and water sports, significantly drives demand in the North American market. Events, competitions, and boating clubs further promote interest in recreational boating. Innovations in boat manufacturing, such as the use of lightweight composites, advanced hull designs, and efficient propulsion systems, are attracting consumers. Electric and hybrid engines are becoming popular due to their environmental benefits and lower operating costs. Government and private sector initiatives to enhance waterway accessibility and safety contribute to this trend. Infrastructure development also means better training and certification programs, promoting safe and skilled boating practices. Companies like Boatsetter and GetMyBoat facilitate easy access to a variety of boats, enhancing the boating experience without the commitment of ownership. The sharing economy trend aligns with changing consumer preferences towards flexible and experience-based consumption which is valued more in GenZ consumers. Furthermore, the government initiatives such as the BIG scheme, and several small grants for ports.
North America Marine Vessels Market size was volume at 309.4 thousand units in 2023 and is poised to grow at a CAGR of 3.1% from 2024-2030.
Companies like Fountaine Pajot, Catana Group, and Crownline hold a substantial share of the North America Marine Vessels Market.
Growing recreational boating and an increase in interest in water-based sports, Economic growth and stability which leads to higher disposable incomes, Technological advancements, and the development of suitable port infrastructure are acting as the main drivers of the market.
The US is estimated to hold more than 80% of the market.
1.Executive Summary |
2.North America Marine Vessels Market Introduction |
2.1.North America Marine Vessels Market - Taxonomy |
2.2.North America Marine Vessels Market - Definitions |
2.2.1.Product Type |
2.2.2.Application |
2.2.3.Size |
2.2.4.Country |
3.North America Marine Vessels Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.North America Marine Vessels Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.North America Marine Vessels Market By Product Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Sailing vessels |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Powered vessels |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6.North America Marine Vessels Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Sports |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Leisure |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Transport |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Others |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
7.North America Marine Vessels Market By Size, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. Below 16 feet |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. 16 – 26 feet |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. > 26 feet |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8.North America Marine Vessels Market By Country, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. United States of America (USA) |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Canada |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
9.United States of America (USA) North America Marine Vessels Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Sailing vessels |
9.1.2.Powered vessels |
9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Sports |
9.2.2.Leisure |
9.2.3.Transport |
9.2.4.Others |
9.3. Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Below 16 feet |
9.3.2.16 – 26 feet |
9.3.3.> 26 feet |
10.Canada North America Marine Vessels Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Sailing vessels |
10.1.2.Powered vessels |
10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Sports |
10.2.2.Leisure |
10.2.3.Transport |
10.2.4.Others |
10.3. Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Below 16 feet |
10.3.2.16 – 26 feet |
10.3.3.> 26 feet |
11. Competition Landscape |
11.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
11.2.1.Bennington |
11.2.2.Chaparral |
11.2.3.Crownline |
11.2.4.Shockwave Marine |
11.2.5.Privilege Catamarans America |
11.2.6.Bavaria Yachtbau GmbH |
11.2.7.Gemini Catamarans. |
11.2.8.Kinetic Catamarans |
11.2.9.Grand Large Yachting group |
11.2.10.CATANAGROUP |
11.2.11.Travelopia |
11.2.12.Lagoon Catamarans |
11.2.13.Fountaine Pajot |
11.2.11.Seawind Group Holdings Pty Ltd |
12. Research Methodology |
13. Appendix and Abbreviations |