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Surging Demand For Recreational Boats Drives Growth In The Boat-Building Market Driver: A Major Catalyst in the Evolution of the Boat Repairing Market in 2025
boat repairing Market Size
The boat repair market is expected to experience a surge in demand due to the rising interest in recreational boating. Recreational boating, including activities like water skiing, fishing and travel, is a globally popular pastime with many participants. Data released by the Marine Retailers Association of the Americas (MRAA), an American non-governmental organization, in May 2024 revealed that there were 3,844 boating accidents in 2023, resulting in 564 deaths and 2,126 injuries, along with $63 million in property damage. These statistics represent a small drop of 4.9% in accidents and 11.3% in fatalities compared to 2022. Consequently, the growth in recreational boating is predicted to drive demand for the boat repair market.
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How will the growth rate of the boat repairing market shape industry trends by 2034?
In the past few years, there has been a significant increase in the size of the boat repair market. This market is projected to expand from $6.59 billion in 2024 to $7.18 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.8%. Factors such as customer preferences and expectations, the impact of the insurance industry, accessibility of proficient labor, environmental conditions, and advancements in boat design have contributed to the growth during the historical period.
The market size for boat repair is projected to witness substantial expansion in the coming years, reaching $10.14 billion by 2029 with a 9.0% compound annual growth rate (CAGR). The anticipated growth during the forecast period can be linked to an upsurge in demand for niche services, focus on environmental sustainability, advancement in materials, the flourishing boating industry, and the impact of the insurance industry. Key trends throughout the forecast period are comprised of specialist repair services, the employment of sophisticated materials, the incorporation of digital tools, environmentally friendly repair techniques, and remote monitoring and diagnosis.
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What trends are poised to drive the future success of the boat repairing market?
In various aspects of the maritime field, robots are being utilized, ranging from cleaning and upkeeping to fully autonomous ships, in order to decrease human dangers and enhance procedural efficiency. The Robotic Hull Bio-Inspired Underwater Grooming Tool, or Hull BUG, is a compact robot that clings to the bottom of a ship to cleanse it. As per Sea Robotics' calculations, regular cleanings leading to a 5% boost in fuel efficiency can save an estimated $15 billion annually in fuel expenditure and reduce greenhouse gas emissions by 1 billion tons. Robots are anticipated to bring about environmental and eco-favorable advantages. Therefore, the integration of advanced robotics in maritime procedures is a significant trend in the maritime sector.
Which primary segments of the boat repairing market are driving growth and industry transformations?
The boat repairing market covered in this report is segmented -
1) By Type: Recreational Boats, Commercial Boats, Military Boats, Other Types
2) By Propulsion: Motor Boats, Sail Boats
3) By Services: Collision Damage, Fire Damage, Submergence, Groundings, Transport Damage
Subsegments:
1) By Recreational Boats: Motorboats, Sailboats, Personal Watercraft
2) By Commercial Boats: Fishing Vessels, Cargo Ships, Passenger Ferries
3) By Military Boats: Patrol Boats, Amphibious Assault Craft, Submarines
4) By Other Types: Yachts, Barges, Research Vessels
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Which geographical regions are pioneering growth in the boat repairing market?
Asia-Pacific was the largest region in the boat repairing market in 2024. North America was the second-largest region in the global boat repairing market share. The regions covered in the boat repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the boat repairing market landscape?
Major companies operating in the boat repairing market include Hanwha Group, HD Hyundai Heavy Industries Co. Ltd., General Dynamics Corporation, Mitsubishi Heavy Industries Ltd., Yamaha Motor Corporation, Brunswick Corporation, Samsung Heavy Industries Co. Ltd., Groupe Beneteau S.A., Malibu Boats Inc., Ferretti S.p.A., MasterCraft Boat Company Inc., West Marine Products Inc., Survitec Group Limited, MarineMax Inc., Princess Yachts International Limited, Sunseeker International Limited, The Boston Whaler Group Inc., Gulf Craft, Riviera Australia Pty. Ltd., Viking Yacht Company, Hinckley Yachts LLC, Hatteras Yachts Inc., Grady-White Boats Inc., Ancasta International Boat Sales Ltd., Regal Marine Industries Inc., Bertram Yacht, Holyhead Boatyard Ltd., Bayliner Marine Corporation, Azimut Benetti S.p.A., Sabre Yachts, Oy Nautor AB, Outer Reef Yachts Pty. Ltd., La Compagnie Du Catamaran SAS, Pursuit Boats LLC
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What Is Covered In The Boat Repairing Global Market Report?
• Market Size Forecast: Examine the boat repairing market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the boat repairing market for a structured understanding.
• Key Players Overview: Analyze major players in the boat repairing market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the boat repairing market.
• Segment Contributions: Evaluate how different segments drive overall growth in the boat repairing market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the boat repairing market.
• Industry Challenges: Identify potential risks and obstacles affecting the boat repairing market.
• Competitive Landscape: Review strategic developments in the boat repairing market, including expansions, agreements, and new product launches.
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