Boat Repairing Market Growth to be Driven by Emerging Trends | $11.6 Billion by 2029

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What is the Projected Market Size of the Boat Repairing Industry?
In recent times, the size of the boat repairing market has made significant strides. The market is expected to expand from $7.64 billion in 2024 to a whopping $8.11 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.2%. Factors contributing to growth during the historical period range from changing consumer choices and expectations, the impact of the insurance sector, access to trained workforce, environmental influences to the evolution in boat designs.

What Will Be the Size of the Boat Repairing Market by 2029?
In the upcoming years, a substantial increase is expected in the size of the boat repairing market. The market is projected to reach $11.6 billion in 2029 with a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this predicted growth in the forecast period include an increased need for specialized services, an emphasis on environmental sustainability, innovative materials, expansion of the boating industry, and the influence of the insurance industry. The forecast period also foresees significant trends such as the proliferation of specialized repair services, the adoption of cutting-edge materials, the implementation of digital tools, the rise of environmentally friendly repair techniques, and the advancement of remote monitoring and diagnostics.

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What Are the Key Drivers Accelerating Growth in the Boat Repairing Market?
Growing interest in recreational boating is expected to propel the boat repair market. Recreational boating, which includes activities like water skiing, fishing, and travel, is a favored pastime worldwide. As per the Marine Retailers Association of the Americas (MRAA), a US-based non-governmental organization, there were 3,844 boating mishaps in 2023, causing 564 fatalities and 2,126 injuries, plus $63 million in property damage. These statistics recorded in May 2024 showed a marginal reduction of 4.9% in accidents and 11.3% in fatalities from the previous year. Thus, the growing popularity of recreational boating is projected to increase the need for the boat repair market.

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How Is the Boat Repairing Market Segmented by Type, Application, and Region?
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

What Are the Key Trends Driving Growth in the Boat Repairing Market?
The use of robots has become a common phenomenon in the maritime sector, serving functions from cleaning and maintenance to operating driverless vessels, thus reducing the risk to humans and boosting procedural efficiency. Take for example the Robotic Hull Bio-Inspired Underwater Grooming Tool, or the Hull BUG, which is a compact robot designed to stick to the bottom of a ship and maintain cleanliness. As per the predictions made by Sea Robotics, a mere 5% escalation in fuel efficiency from regular cleaning can result in an annual saving of around $15 billion in fuel expenses and curtail greenhouse gas emissions by 1 billion tons. Robots are anticipated to confer environmentally friendly advantages. Consequently, the impact of advanced robotics on maritime operations signifies a major trend within the maritime sector.

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Who Are the Leading Companies 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 Is the Leading Region in the Global 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.

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