Marine Equipment Retailing in Australia - Industry Research Report

Rocking the boat: Rising internal and external competition are at the helm of slowed revenue growth

Operators in the Marine Equipment Retailing industry have faced mixed trading conditions over the past five years. Annual fluctuations in discretionary income and consumer sentiment have led to volatile demand for marine equipment over the period. Increasing competition from the grey import market, a term for new or used goods legally imported outside traditional supply channels, also negatively affected industry revenue over the period. Nonetheless, the industry has benefited from increased expenditure on recreation and culture and a surge in demand following the COVID-19 outbreak. Overall, industry revenue is expected to rise at an annualised 3.2% over the five years through 2022-23, to $2.2 billion. This includes an anticipated decrease of 4.8% in the current year due to a projected contraction in discretionary income.

Industry operators primarily sell new and used boats, outboard motors, boat trailers, marine accessories, yachts and sailing or nautical accessories. These products are often purchased from wholesalers and then resold to consumers. Businesses that primarily retail sailboards, canoes or wetsuits, repair boats, or hire pleasure craft are excluded from the industry.

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.