Boat Building in the US - Industry Research Report

Shipshape conditions: Rebounding consumer demand and confidence will support revenue growth

Boat builders manufacture various watercraft intended mostly for personal use. These products are considered highly discretionary purchases, so boat builders benefit from growing consumer confidence, disposable income and consumer spending levels. Revenue increased each year between 2015 and 2018, but COVID-19 had dire consequences in 2020. Altogether, revenue has fallen at a CAGR of 2.3% to $12.1 billion over past five years, including a 2.3% drop in 2020 and a further 1.6% in 2021. This trend will reverse with industry revenue rising an expected 0.9% in 2023 alone. Industry profit has faltered over the past five years, decreasing as a result of heightened labor competition and volatile input costs.

Operators in this industry build boats, which are defined as watercraft not built in shipyards, typically intended for personal use. This industry does not include ship building.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.