Boat Repairing Market Growth Accelerates: Strategic Forecast Predicts $10.14 Billion by 2029

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What Is the Expected CAGR for the Boat Repairing Market Through 2025?
There has been a robust expansion in the market size of boat repairs in the past few years. With an anticipated growth from $6.59 billion in 2024 to $7.18 billion in 2025, this represents a compound annual growth rate (CAGR) of 8.8%. The growth during the historical period is due to several contributing factors which include consumer preferences and expectations, influence of the insurance sector, availability of skilled labor, environmental considerations, and advancements in boat design.

What's the Projected Size of the Global Boat Repairing Market by 2029?
The market for repairing boats is poised for robust expansion over the coming years. The market forecast predicts a growth up to $10.14 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%. This anticipated growth over the forecast period can be traced back to an increasing need for specialized services, the emphasis on environmental sustainability, innovative materials, the expansion of the boating industry, and influence of the insurance industry. The significant trends over the forecast period consist of customized repair services, the utilization of innovative materials, application of digital tools, eco-conscious repair techniques, along with remote monitoring and diagnostics.

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Top Growth Drivers in the Boat Repairing Industry: What's Accelerating the Market?
The boat repair market is expected to see a rise in demand due to the growing interest in recreational boats. Globally, recreational boating is considered a favorite pastime. Numerous people engage in recreational boating activities like water skiing, fishing, and traveling. For example, the Marine Retailers Association of the Americas (MRAA), a non-governmental U.S based organization, reported in May 2024 that during 2023, there were 3,844 boating incidents resulting in 564 deaths and 2,126 injuries, along with a property damage of $63 million. Although these figures show a minor drop of 4.9% in incidents and 11.3% in fatalities compared to 2022, they emphasize the increasing popularity of recreational boating, which is expected to fuel the need for boat repair services.

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What Trends Will Shape the Boat Repairing Market Through 2029 and Beyond?
Robots serve various roles in the maritime sector, ranging from cleaning and maintenance tasks to operating entire autonomous craft, all with the aim of lessening human risks and amplifying process efficiencies. A prime example is the Hull BUG (Robotic Hull Bio-Inspired Underwater Grooming Tool), a tiny robot that fixes itself to a vessel's underside for cleaning purposes. Sea Robotics has projected that regular cleanings can improve fuel efficiency by 5%, resulting in approximately $15 billion in annual fuel cost savings and cutting down greenhouse gas emissions by 1 billion tons. The advent of robots holds the potential for greener and more environmentally friendly advantages. Thus, the rising influence of advanced robotics on maritime operations stands as a key trend within the industry.

What Are the Main Segments in the Boat Repairing Market?
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 Top Companies are Driving Growth in the Boat Repairing Market?
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

Which Regions Will Dominate the Boat Repairing Market Through 2029?
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.

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