Sailboat Global Market Report 2024

The sailboat market size has grown steadily in recent years. It will grow from $6.25 billion in 2023 to $6.44 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The expansion observed during the historical period can be attributed to robust economic growth in emerging markets, an increase in disposable income, a rise in spending on recreational activities, and an uptick in leisure trips.

The sailboat market size is expected to see steady growth in the next few years. It will grow to $7.41 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to rising government support, rapid urbanization, a growing population, an increasing number of water sporting events and boat shows, the growing influence of social media, and a rise in the number of high-net-worth individuals showing interest in boating. Key trends expected during the forecast period include the use of artificial intelligence (AI) for advanced navigation, new product developments aimed at achieving higher performance in strong winds, strategic collaborations and acquisitions to enhance product portfolios, the development of solar- and wind-powered boats, and a focus on integrating sustainable materials in boat manufacturing.

The surge in the popularity of marine activities is anticipated to drive the sailboat market. These activities, acting as catalysts for economic growth, encompass a spectrum of functions from providing natural resources and facilitating trade to offering recreational opportunities. The optimistic outlook for future growth in marine activities is contributing to the demand for sailboats, both for commercial and leisure purposes. Sailboats are favored for their efficient aquatic performance, entailing lower fuel and power costs. As per the UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, maritime trade and transport experienced a notable 4.3% increase in 2021 compared to the previous year. Consequently, the heightened interest in marine activities is poised to elevate the demand for sailboats in the forecast period.

The rising number of water sporting events and boat shows is set to further propel the growth of the sailboat market. Events such as sailing regattas, races, and championships provide a prominent platform for showcasing sailboats to a broad and engaged audience. These occasions attract participants, spectators, sponsors, and media coverage, collectively serving as effective promotional avenues for sailboats and the sailing lifestyle. According to the Watersports Participation Survey in the UK, approximately 13.2 million adults participated in boating activities in 2022, marking a 3% increase from the 2021 figure of 12.8 million participants. Out of this total, over 10 million individuals engaged in boating activities at least once or twice during the year, while approximately 3.2 million participated more regularly, three times or more. Thus, the growing prominence of water sporting events and boat shows is expected to be a driving force behind the global sailboat market.

A prominent trend in the sailboats market is the emphasis on product innovations. The industry is witnessing the integration of new technologies, such as adopting a form-follows-function approach, to enhance operational performance and safety features of sailboats. This approach focuses on meeting technical requirements to achieve optimal performance by minimizing drag and maximizing propulsion, thereby ensuring perfect gliding properties. For example, Aeolos Composites, a UAE-based high-performance yacht designer and producer, launched the Aeolos P30 in January 2022. This conventional series yacht incorporates a twin rudder system and a single rudder system in its design, specifically catering to sailing in strong winds.

Sailboat manufacturers are increasingly harnessing the power of artificial intelligence (AI) to optimize sailboat performance, bolster safety measures, and enhance decision-making capabilities. AI algorithms and machine learning techniques are being applied to various facets of sailing, encompassing hull and sail design, steering optimization, tactics, and weather prediction. SEA.AI, an Austria-based company specializing in marine applications of machine vision and AI, introduced the OSCAR System in August 2022. This navigation equipment combines AI with thermal and low-light cameras to enhance offshore cruising safety. The system utilizes FLIR thermal imaging technology to detect and avoid floating objects that may be challenging to discern. OSCAR's embedded RGB and FLIR thermal camera system, coupled with AI-driven vision and data analyzing algorithms, aids sailors in collision avoidance by identifying and assessing potential risks.

In October 2022, Zodiac Milpro, a France-based manufacturer of inflatable and rigid-hull inflatable boats, acquired Yachtwerft Meyer GmbH, a Germany-based yacht and boat manufacturing company. This acquisition aligns with Zodiac Milpro's strategy, offering complementary technological capabilities and manufacturing capacity to expedite expansion in Germany and Eastern Europe.

Major companies operating in the sailboat market report are Groupe Beneteau, Ferretti S.p.A., Jeanneau, HanseYachts AG, Bavaria Yachtbau GmbH., Catalina Yachts, Fountaine Pajot, Dufour Yachts, Nautor's Swan, Island Packet, Seawind Catamarans, Donghae Shipbuilding Co, Ltd., Ketaki Craft Private Limited, FarEast Boats, Hylas Yachts, Qingdao Dookyu Crown Marine Co., Ltd., Ocean Dream Sailboats (Qingdao) Co., Ltd., Hartley Boats Ltd., Van de Stadt Design, RS Sailing, Gingerboats Racing Ltd., Luna Rossa, Elan Yachts, Wally, Morris Yachts, J/Boats, Hunter, Hinckley, Pacific Seacraft, Sea Ray, Quicksilver, Cal Yachts, Sterling Yachts, Pro Boat, Touchstone Boat Builders, Sayer Yachts, Inace Yacht Division, Schaefer Yachts, Fibrafort, Delta Yachts, MCP Yachts, MultiGlass, Lenzi Yachts, Flexboat, Magellan Abu Dhabi Marine Equipment, Sindbad Marine LLC, Al Suwaidi Marine, Royal Captain Boats, Yacht Manufacturing and Advanced Fiberglass Industries, Robertson and Caine, Knysna Yacht Company, Voyage Yachts.

North America was the largest region in the sailboat market in 2023. The regions covered in the sailboat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sailboat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main types of sailboats are monohull and multi-hull. A monohull refers to a watercraft or sailing vessel with a single hull, in contrast to multiple hulls as seen in catamarans or trimarans. Sailboats come in various lengths, categorized as up to 20 ft, 20-50 ft, and above 50 ft. They are utilized for recreational sailing, racing, and sail training.

The sailboat market research report is one of a series of new reports that provides sailboat market statistics, including sailboat industry global market size, regional shares, competitors with a sailboat market share, detailed sailboat market segments, market trends and opportunities, and any further data you may need to thrive in the sailboat industry. This sailboat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sailboat market consists of sales of cruising sailboat, daysailer, motorsailer, racer-cruiser, racing sailboats and sailing dinghies. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.