The boat building and repairing market size has grown strongly in recent years. It will grow from $40.87 billion in 2023 to $43.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed during the historic period can be attributed to factors such as the increased expansion of the fishing industry, growth in the tourism sector, innovation in manufacturing, changing consumer preferences, global trade in boats, and the rise in boat shows and events.
The boat building and repairing market size is expected to see strong growth in the next few years. It will grow to $56.72 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to factors such as rising disposable income, the development of boating infrastructure, the adoption of electric and hybrid propulsion systems, the emergence of boat rental and sharing services, ongoing marine conservation efforts, and the growth of the luxury yacht market. Major trends expected in the forecast period encompass innovation in sustainable materials, the integration of advanced navigation and communication systems, customization for luxury and personalization, the adoption of 3D printing technology, and the utilization of digital tools for design and manufacturing.
The boat-building and repairing market is expected to witness growth due to the increasing occurrence of natural disasters. Catastrophic events such as hurricanes, floods, and storms can cause substantial damage to boats and vessels, necessitating repair and restoration work. In the United States, for example, the National Centers for Environmental Information reported 18 weather-related disasters in 2022, including tornado outbreaks, tropical cyclones, and severe weather, with a minimum economic impact of $1 billion. This trend is driving the boat-building and repairing market as the need for repairs rises.
The boat-building and repairing market is also set to benefit from the growing tourism industry. As the tourism sector expands globally, recreational activities such as boating and water sports gain popularity. Tourist destinations attracting more travelers contribute to the demand for boats, supporting the boat-building and repairing industry. According to the United Nations World Tourism Organization, international tourist receipts exceeded USD 1 trillion in May 2023, marking a 50% increase in real terms over 2021. The flourishing tourism industry is a significant driver for the boat-building and repairing market.
The boat building and repair market faced significant challenges in 2020 due to the outbreak of COVID-19, causing disruptions in supply chains and reduced consumption amid global lockdowns. The infectious disease, first identified in 2019 in Wuhan, China, led to trade restrictions and hindered the transportation manufacturing sector's reliance on global parts and components. Governments imposed restrictions on the movement of goods, compelling manufacturers to halt production due to shortages. The market also experienced a decline in sales of new automobiles as consumer demand decreased during lockdowns. While the outbreak negatively impacted businesses throughout 2020 and into 2021, it is anticipated that the boat building and repairing market will rebound over the forecast period, considering the nature of this "black swan" event, unrelated to fundamental weaknesses in the market or the global economy.
Continued technological advancements are expected to drive growth in the boat building and repairing market. Over the last decade, the global industry has witnessed various technological innovations, and this trend is projected to amplify. Emerging features in boats include autonomous driving, black finishing, wellness features, modern lighting, driver override systems, comprehensive tracking, active health monitoring, and reconfigurable body panels. These innovations are poised to propel the boat building and repair market during the forecast period.
3D printing technology is increasingly being adopted by boatbuilding companies for manufacturing. This additive manufacturing process involves constructing three-dimensional objects from a digital model by layering successive materials. Boat manufacturers benefit from 3D printing due to its adjustability, cost-effectiveness, and convenience. Companies are focusing on developing new products, particularly for fishing and water sports, leveraging 3D printing technology. Notably, high-end yachts are incorporating 3D printed parts, exemplified by the UMaine team in the USA, which utilized the largest prototype polymer 3D printer to build the largest 3D printed boat.
Major companies operating in the boat building and repairing market report are Berkshire Hathaway Holding Company Inc., Polaris Industries Inc., Fincantieri Società per Azioni, Brunswick Corporation, Bombardier Recreational Products Inc., Daewoo Shipbuilding & Marine Engineering Co. Ltd., Groupe Beneteau S.A., Azimut-Benetti S.p.A., Malibu Boats Inc., Hinckley Yachts, Chaparral Boats Inc., MasterCraft Boat Holdings Inc., Marine Products Corporation of America, Sunseeker International Limited, Chapman and Cutler LLP, Fountain Powerboats Inc., Bavaria Yachtbau GmbH, Ocean Alexander Yachts, Marlow Yachts, Palmer Johnson Yachts, Catalina Direct LLC, Avon Marine Ltd., Baja Marine Inc., Farr Yacht Design Ltd., Trawler Yacht Sales, Westerly Marine Ltd., Winnipeash Bay Boats Inc., Woodard Boats Inc., Nautic Global Inc., Ferretti S.p.A.
Asia-Pacific was the largest region in the boat building and repairing market in 2023. North America was the second-largest region in the boat building and repairing market. The regions covered in the boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boat building and repairing market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The main types within the boat building and repairing market are boat building and boat repairing. This market pertains to facilities primarily used for the maintenance and construction of boats. The various propulsion systems encompass motorboats and sailboats, utilized for private, commercial, and military purposes.
The boat building and repairing market research report is one of a series of new reports that provides boat building and repairing market statistics, including boat building and repairing industry global market size, regional shares, competitors with a boat building and repairing market share, detailed boat building and repairing market segments, market trends and opportunities, and any further data you may need to thrive in the boat building and repairing industry. This boat building and repairing 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 boatbuilding and repairing market include revenues earned by entities by constructing hulls of boats and, for sailboats, the masts, spars and rigging. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
This product will be delivered within 3-5 business days.
The boat building and repairing market size is expected to see strong growth in the next few years. It will grow to $56.72 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to factors such as rising disposable income, the development of boating infrastructure, the adoption of electric and hybrid propulsion systems, the emergence of boat rental and sharing services, ongoing marine conservation efforts, and the growth of the luxury yacht market. Major trends expected in the forecast period encompass innovation in sustainable materials, the integration of advanced navigation and communication systems, customization for luxury and personalization, the adoption of 3D printing technology, and the utilization of digital tools for design and manufacturing.
The boat-building and repairing market is expected to witness growth due to the increasing occurrence of natural disasters. Catastrophic events such as hurricanes, floods, and storms can cause substantial damage to boats and vessels, necessitating repair and restoration work. In the United States, for example, the National Centers for Environmental Information reported 18 weather-related disasters in 2022, including tornado outbreaks, tropical cyclones, and severe weather, with a minimum economic impact of $1 billion. This trend is driving the boat-building and repairing market as the need for repairs rises.
The boat-building and repairing market is also set to benefit from the growing tourism industry. As the tourism sector expands globally, recreational activities such as boating and water sports gain popularity. Tourist destinations attracting more travelers contribute to the demand for boats, supporting the boat-building and repairing industry. According to the United Nations World Tourism Organization, international tourist receipts exceeded USD 1 trillion in May 2023, marking a 50% increase in real terms over 2021. The flourishing tourism industry is a significant driver for the boat-building and repairing market.
The boat building and repair market faced significant challenges in 2020 due to the outbreak of COVID-19, causing disruptions in supply chains and reduced consumption amid global lockdowns. The infectious disease, first identified in 2019 in Wuhan, China, led to trade restrictions and hindered the transportation manufacturing sector's reliance on global parts and components. Governments imposed restrictions on the movement of goods, compelling manufacturers to halt production due to shortages. The market also experienced a decline in sales of new automobiles as consumer demand decreased during lockdowns. While the outbreak negatively impacted businesses throughout 2020 and into 2021, it is anticipated that the boat building and repairing market will rebound over the forecast period, considering the nature of this "black swan" event, unrelated to fundamental weaknesses in the market or the global economy.
Continued technological advancements are expected to drive growth in the boat building and repairing market. Over the last decade, the global industry has witnessed various technological innovations, and this trend is projected to amplify. Emerging features in boats include autonomous driving, black finishing, wellness features, modern lighting, driver override systems, comprehensive tracking, active health monitoring, and reconfigurable body panels. These innovations are poised to propel the boat building and repair market during the forecast period.
3D printing technology is increasingly being adopted by boatbuilding companies for manufacturing. This additive manufacturing process involves constructing three-dimensional objects from a digital model by layering successive materials. Boat manufacturers benefit from 3D printing due to its adjustability, cost-effectiveness, and convenience. Companies are focusing on developing new products, particularly for fishing and water sports, leveraging 3D printing technology. Notably, high-end yachts are incorporating 3D printed parts, exemplified by the UMaine team in the USA, which utilized the largest prototype polymer 3D printer to build the largest 3D printed boat.
Major companies operating in the boat building and repairing market report are Berkshire Hathaway Holding Company Inc., Polaris Industries Inc., Fincantieri Società per Azioni, Brunswick Corporation, Bombardier Recreational Products Inc., Daewoo Shipbuilding & Marine Engineering Co. Ltd., Groupe Beneteau S.A., Azimut-Benetti S.p.A., Malibu Boats Inc., Hinckley Yachts, Chaparral Boats Inc., MasterCraft Boat Holdings Inc., Marine Products Corporation of America, Sunseeker International Limited, Chapman and Cutler LLP, Fountain Powerboats Inc., Bavaria Yachtbau GmbH, Ocean Alexander Yachts, Marlow Yachts, Palmer Johnson Yachts, Catalina Direct LLC, Avon Marine Ltd., Baja Marine Inc., Farr Yacht Design Ltd., Trawler Yacht Sales, Westerly Marine Ltd., Winnipeash Bay Boats Inc., Woodard Boats Inc., Nautic Global Inc., Ferretti S.p.A.
Asia-Pacific was the largest region in the boat building and repairing market in 2023. North America was the second-largest region in the boat building and repairing market. The regions covered in the boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boat building and repairing market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The main types within the boat building and repairing market are boat building and boat repairing. This market pertains to facilities primarily used for the maintenance and construction of boats. The various propulsion systems encompass motorboats and sailboats, utilized for private, commercial, and military purposes.
The boat building and repairing market research report is one of a series of new reports that provides boat building and repairing market statistics, including boat building and repairing industry global market size, regional shares, competitors with a boat building and repairing market share, detailed boat building and repairing market segments, market trends and opportunities, and any further data you may need to thrive in the boat building and repairing industry. This boat building and repairing 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 boatbuilding and repairing market include revenues earned by entities by constructing hulls of boats and, for sailboats, the masts, spars and rigging. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Boat Building and Repairing Market Characteristics4. Boat Building and Repairing Market Trends and Strategies68. Global Boat Building and Repairing Market Competitive Benchmarking69. Global Boat Building and Repairing Market Competitive Dashboard70. Key Mergers and Acquisitions in the Boat Building and Repairing Market
3. Boat Building and Repairing Product/Service Analysis -Product/Service Examples
5. Boat Building and Repairing Market - Macro Economic Scenario
6. Global Boat Building and Repairing Market Size and Growth
7. Boat Building and Repairing Market Segmentation
8. Boat Building and Repairing Market Regional and Country Analysis
9. Asia-Pacific Boat Building and Repairing Market
10. China Boat Building and Repairing Market
11. India Boat Building and Repairing Market
12. Japan Boat Building and Repairing Market
13. Australia Boat Building and Repairing Market
14. Indonesia Boat Building and Repairing Market
15. South Korea Boat Building and Repairing Market
16. Bangladesh Boat Building and Repairing Market
17. Thailand Boat Building and Repairing Market
18. Vietnam Boat Building and Repairing Market
19. Malaysia Boat Building and Repairing Market
20. Singapore Boat Building and Repairing Market
21. Philippines Boat Building and Repairing Market
22. Hong Kong Boat Building and Repairing Market
23. New Zealand Boat Building and Repairing Market
24. Western Europe Boat Building and Repairing Market
25. UK Boat Building and Repairing Market
26. Germany Boat Building and Repairing Market
27. France Boat Building and Repairing Market
28. Italy Boat Building and Repairing Market
29. Spain Boat Building and Repairing Market
30. Austria Boat Building and Repairing Market
31. Belgium Boat Building and Repairing Market
32. Denmark Boat Building and Repairing Market
33. Finland Boat Building and Repairing Market
34. Ireland Boat Building and Repairing Market
35. Netherlands Boat Building and Repairing Market
36. Norway Boat Building and Repairing Market
37. Portugal Boat Building and Repairing Market
38. Sweden Boat Building and Repairing Market
39. Switzerland Boat Building and Repairing Market
40. Eastern Europe Boat Building and Repairing Market
41. Russia Boat Building and Repairing Market
42. Czech Republic Boat Building and Repairing Market
43. Poland Boat Building and Repairing Market
44. Romania Boat Building and Repairing Market
45. Ukraine Boat Building and Repairing Market
46. North America Boat Building and Repairing Market
47. USA Boat Building and Repairing Market
48. Canada Boat Building and Repairing Market
49. Mexico Boat Building and Repairing Market
50. South America Boat Building and Repairing Market
51. Brazil Boat Building and Repairing Market
52. Chile Boat Building and Repairing Market
53. Argentina Boat Building and Repairing Market
54. Colombia Boat Building and Repairing Market
55. Peru Boat Building and Repairing Market
56. Middle East Boat Building and Repairing Market
57. Saudi Arabia Boat Building and Repairing Market
58. Israel Boat Building and Repairing Market
59. Iran Boat Building and Repairing Market
60. Turkey Boat Building and Repairing Market
61. United Arab Emirates Boat Building and Repairing Market
62. Africa Boat Building and Repairing Market
63. Egypt Boat Building and Repairing Market
64. Nigeria Boat Building and Repairing Market
65. South Africa Boat Building and Repairing Market
66. Boat Building and Repairing Market Competitive Landscape and Company Profiles
67. Boat Building and Repairing Market Other Major and Innovative Companies
71. Boat Building and Repairing Market Future Outlook and Potential Analysis
72. Appendix
Executive Summary
Boat Building and Repairing Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on boat building and repairing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for boat building and repairing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Boat Building; Boat Repairing
2) By Propulsion: Motor Boats; Sail Boats
3) By Application: Private Use; Commercial Use; Military Use
Key Companies Mentioned: Berkshire Hathaway Holding Company Inc.; Polaris Industries Inc.; Fincantieri Società per Azioni; Brunswick Corporation; Bombardier Recreational Products Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Berkshire Hathaway Holding Company Inc.
- Polaris Industries Inc.
- Fincantieri Società per Azioni
- Brunswick Corporation
- Bombardier Recreational Products Inc.
- Daewoo Shipbuilding & Marine Engineering Co. Ltd.
- Groupe Beneteau S.A.
- Azimut-Benetti S.p.A.
- Malibu Boats Inc.
- Hinckley Yachts
- Chaparral Boats Inc.
- MasterCraft Boat Holdings Inc.
- Marine Products Corporation of America
- Sunseeker International Limited
- Chapman and Cutler LLP
- Fountain Powerboats Inc.
- Bavaria Yachtbau GmbH
- Ocean Alexander Yachts
- Marlow Yachts
- Palmer Johnson Yachts
- Catalina Direct LLC
- Avon Marine Ltd.
- Baja Marine Inc.
- Farr Yacht Design Ltd.
- Trawler Yacht Sales
- Westerly Marine Ltd.
- Winnipeash Bay Boats Inc.
- Woodard Boats Inc.
- Nautic Global Inc.
- Ferretti S.p.A.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 300 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 43.67 Billion |
Forecasted Market Value ( USD | $ 56.72 Billion |
Compound Annual Growth Rate | 6.8% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |