South Korea Leisure Boats Market was valued at USD 1.10 Billion in 2022 and is projected to reach USD 1.84 Billion by 2030, growing at a CAGR of 7.80% from 2024 to 2030.
The South Korea Leisure Boats Market is experiencing notable growth, driven by increasing disposable incomes, a rising interest in recreational activities, and an expanding tourism sector. Leisure boats, including yachts, sailboats, and motorboats, are becoming a popular choice for both domestic and international tourists looking to explore the country's scenic coastlines and tranquil waterways. With more people seeking unique experiences, the demand for leisure boating in South Korea is expected to rise steadily in the coming years.
Various industries play a significant role in the development and expansion of the leisure boat market. Tourism companies, recreational boating clubs, and the maritime industry are driving the demand for these boats. South Korea's government is also making efforts to improve the infrastructure of harbors and marinas, which further supports the market's growth. Increased promotional activities and events such as boat shows and water sports festivals have raised awareness and attracted more people to leisure boating as a desirable recreational activity.
The boating sector is also responding to the growing demand by introducing a wide range of boat types, including luxury yachts and smaller, more affordable options. The variety of offerings allows consumers to choose based on their preferences and budgets, making the market accessible to a wider audience. The shift toward eco-friendly and sustainable boats is also notable, as more manufacturers are focusing on creating boats that have minimal environmental impact. This is in line with global trends towards sustainable and responsible tourism.
Industries such as hospitality, retail, and insurance are also benefiting from the expansion of the leisure boat market. Hotel chains and resorts situated near coastal areas are incorporating boat rental services to attract customers, while insurance companies are offering specialized boat insurance policies. Furthermore, boat manufacturers are working to innovate and meet specific requirements from the leisure boating market, such as improved safety features, enhanced fuel efficiency, and better comfort for passengers.
With the increasing demand for leisure boats, it’s clear that this sector in South Korea has significant potential for growth. The rising interest in boating activities not only caters to the desires of local residents but also taps into the expanding market of international tourists looking for new and exciting ways to experience South Korea's maritime beauty.
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Riva
Sunseeker
Ferretti
Lurssen
Azimut
Wally
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Leisure Boats Market
Motorboats
Sailing Boats
Yachts
Canoes & Kayaks
Pontoon Boats
Inflatable Boats
Fiberglass
Aluminum
Wood
Composite Materials
Polyethylene
Small Boats (up to 15 feet)
Medium Boats (15 to 30 feet)
Large Boats (over 30 feet)
Recreational Fishing
Water Sports (e.g., wakeboarding, jet skiing)
Cruising
Camping
Day Trips
Individual Consumers
Rental Services
Commercial Operators
Tourism Companies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Leisure Boats Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Leisure Boats Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Leisure Boats Market, By Type
6. South Korea Leisure Boats Market, By Application
7. South Korea Leisure Boats Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Leisure Boats Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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