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Boat Building and Repairing Market: Exploring Growth Trends, Market Size, and Key Players for 2024-2029
Boat Building And Repairing Market Size
What Is The Projected Market Size Of The Global Boat Building And Repairing Market And Its Growth Rate?
• The market size for boat building and repairing demonstrates a strong growth from $44.66 billion in 2024 to $48.15 billion in 2025 with a CAGR of 7.8%.
• Factors such as growth in fishing and tourism industries, manufacturing innovation, consumer preferences, and global trade in boats contribute to this increase.
• Expectation for future growth are also strong. The market size is anticipated to reach $62.22 billion in 2029 at a CAGR of 6.6%.
• Rising disposable income, boating infrastructure development, electric and hybrid propulsion, boat rental and sharing services, and marine conservation efforts are some of the contributing factors for the future growth.
What Is Driving The Growth In The Boat Building And Repairing Market?
The increasing number of natural disasters contributes to the growth of the boat-building and repairing market. Natural events such as hurricanes, floods, and storms cause considerable damage to boats and vessels, including recreational boats, yachts, and commercial vessels. These calamities necessitate significant repair and restoration work, benefiting the boat repair segment of the market. For example, according to a report published by the US-based National Centers for Environmental Information (NCEI) in January 2023, 18 different weather-related disasters with a minimum economic impact of $1 billion occurred in the United States in 2022, driving the need for boat repair and restoration.
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Who Are the Key Players Driving Boat Building And Repairing Market Growth?
Notable market participants include:
• 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
• Fountain Powerboats Inc.
• Bavaria Yachtbau GmbH
• Ocean Alexander Yachts
• Marlow Yachts
• Palmer Johnson Yachts
• Catalina Direct LLC
• Avon Marine Ltd.
• Baja Marine Inc.
• Trawler Yacht Sales
• Nautic Global Inc.
• Ferretti S.p.A.
What Are The Key Trends In The Boat Building And Repairing Market?
Key market trends include:
• Innovation in sustainable materials
• Advanced navigation and communication systems
• Customization for luxury and personalization
• Adoption of 3d printing technology
• Digital design and manufacturing tools
What Are The Segments Of The Global Boat Building And Repairing Market?
1) By Type: Boat Building, Boat Repairing.
2) By Propulsion: Motor Boats, Sail Boats.
3) By Application: Private Use, Commercial Use, Military Use.
Which Region Leads The Boat Building And Repairing Market?
Asia-Pacific was the largest region in the boat building and repairing market in 2024, with North America following as the second-largest. Other regions covered in the market report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Boat Building And Repairing Market Global Market Report?
- Market Size Analysis: Analyze the Boat Building And Repairing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Boat Building And Repairing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Boat Building And Repairing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Boat Building And Repairing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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