Global Boat Building Market to Reach $51.55 Billion by 2029, Growing at 6.1% CAGR

"Which drivers are expected to have the greatest impact on the over the boat building market's growth?
The rising interest in recreational boats is expected to propel the boat manufacturing market forward. Recreational boating is a worldwide popular pastime, with many people engaging in activities such as water skiing, fishing, and traveling. For example, data from the National Marine Manufacturers Association, a US-based organization, shows that as of January 2023, the US recreational boating industry is worth $170 billion. The National Marine Manufacturers Association (NMMA) represents 85% of the nation's recreational boat, marine engine, and accessory manufacturers. As a result, the growth in recreational boating is bound to stimulate the boat construction market.

Get Your Boat Building Market Report Here:
https://www.thebusinessresearchcompany.com/report/boat-building-global-market-report

What is the future CAGR of the boat building market, and how will it impact industry expansion?
In recent times, there has been a considerable surge in the size of the boat building market. It is projected to expand from $37.84 billion in 2024 to $40.62 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%. Factors attributed to the past growth include a growing population, increasing demand for recreational boats, favorable interest rates, and robust economic development in emerging markets.

Anticipations for the upcoming years portray a solid expansion in the boat building industry, with a projected increase to $51.55 billion by 2029, at a compound annual growth rate (CAGR) of 6.1%. This sturdy growth, expected during the forecast period, is due to factors such as technological progression, swift urbanization, and heightened investment in the maritime sector. Trends that will significantly influence this market during the forecast period encompass autonomous boats, 3D printing, use of robotics, and the integration of advanced composite materials in boat construction.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3479&type=smp

What are the most significant trends transforming the boat building market today?
The boat-building industry is witnessing an increased interest in the production of autonomous boats. To keep up with the competitive atmosphere, key players in the market have started creating highly sophisticated autonomous boats. As an example, in June 2023, a collaboration between Torghatten ASA, a Norwegian shipping business, and Zeabuz, a fellow Norwegian tech firm, resulted in the launch of the world's first autonomous ferry with zero emissions, the MF Estelle. This partnership aimed to revamp the travel experiences of their 70 million passengers using the advanced autonomous technology while also paving the way for an eco-friendly marine transport system. In a similar pursuit, DNV partnered with Hyundai Heavy Industries (HHI), Avikus, and the Liberian International Ship & Corporate Registry (LISCR) in September 2022, signing a memorandum of understanding (MOU). As per the multi-party MoU, these organizations agreed to conduct a joint examination on employing autonomous navigation systems in ships to promote the technology's adoption by the industry and flag states.

Which key market segments comprise the boat building market and drive its revenue growth?
The boat building market covered in this report is segmented -

1) By Type: Recreational Boats, Commercial Boats, Military Boats
2) By Propulsion: Motor Boats, Sail Boats
3) By Application: Private Use, Commercial Use, Military Use

Subsegments:
1) By Recreational Boats: Yachts, Sailboats, Motorboats, Personal Watercraft (Jet Skis)
2) By Commercial Boats: Ferries, Cargo Ships, Fishing Vessels, Offshore Support Vessels (OSVs)
3) By Military Boats: Patrol Boats, Naval Vessels, Submarines, Amphibious Assault Ships

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3479

What regions are at the forefront of boat building market expansion?
North America was the largest region in the boat building market in 2024. Asia-Pacific was the second largest market in the global boat building market share. The regions covered in the boat building market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the leading players fueling growth in the boat building market?
Major companies operating in the boat building market include Brunswick Boat Group, Groupe Beneteau, Azimut-Benetti Group, Ferretti S.P.A., Correct Craft, Malibu Boats Inc., Mastercraft Boat Holdings, Marine Products Corporation, Smoker Craft Boats, Hyundai Heavy Industries, Mitsubishi Heavy Industries, DSME, Samsung Heavy Industries, Tsuneishi Holdings, Cochin Shipyard Limited, Hindustan Shipyard Limited, General Dynamics, Jiangyin Xinjiang Fiberglass Reinforced Plastics Co. Ltd., Wendeng Minghui Industry Co. Ltd., YaGuang Technology Group Company Limited, Qingdao Haoyun Boats Co. Ltd., Mahindra & Mahindra, SHM, Mazagon Dock Shipbuilders Ltd., Laxmipati Engineering Works Ltd., Garden Reach Shipbuilders & Engineers Ltd., Kawasaki Heavy Industries Ltd., Sumidagawa Shipyard Co. Ltd., Yamato Motor Co. Ltd., Yamaha Amakusa Works Co. Ltd., Naval Yards Kiel GmbH, Lloyd Werft Bremerhaven, Neptune Werft GmbH, Schiffswerft Hermann Barthel GmbH, Meyer Werft, STX, PIRIOU, SOCARENAM, CMN: Chantiers naval de Normandie, CNM: Chantiers Navals de Marseille, Naval Group, A&P Group Tyne Shipyard, Cammell Laird, Parkol Marine Engineering, Yarrow Shipbuilders, Ribcraft, Cockwills, Williams Performance Jet Tenders, Shetlands Boats, Sibriver, Boatyard Varyag, Galeon, Parker Poland, Delphia, Sunreef Yachts, OneWater, Brunswick International Limited, Pelican International Inc., Campion Marine Inc., Neptunus Yachts International Inc, Bombardier Recreational Product Inc., Astilleros Tarrab, BB Barcos, Conserva Bonan, Montoya Gil Diana Carolina, Al-Suwaidi Marine LLC., Marina Factory LLC, Riviera Boat Industrial Investment Company LLC, The Boat House LLC, Al Fajer Marine LLC, Robertson & Caine, Xquisite Yachts, Tuwasco Marine Services, Southern Wind, Voyage Yachts

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=3479&type=smp

What Is Covered In The Boat Building Global Market Report?

•Market Size Forecast: Examine the boat building market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the boat building market for a structured understanding.
•Key Players Overview: Analyze major players in the boat building market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the boat building market.
•Segment Contributions: Evaluate how different segments drive overall growth in the boat building market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the boat building market.
•Industry Challenges: Identify potential risks and obstacles affecting the boat building market.
•Competitive Landscape: Review strategic developments in the boat building market, including expansions, agreements, and new product launches.

"

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
•LinkedIn: https://in.linkedin.com/company/the-business-research-company
•Twitter: https://twitter.com/tbrc_info
•YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead

This release was published on openPR.