Global Boat Building Market Size, Share, and Forecast Analysis 2025-2029

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What Are the Boat Building Market Size Forecast for 2025?
The industry for boat building has seen significant growth in recent years. It's expected to increase from a market value of $41.21 billion in 2024 to $43.6 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The expansion during the historic period can be linked to factors such as a growing population, heightened demand for leisure boats, favorable interest rates, and robust economic development in emerging markets.

What Is the Market Size Outlook for Boat Building Until 2029?
Expectations are high for robust expansion in the boat building market in the coming years. The market size is slated to increase to $55.57 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. This anticipated growth during the forecast period can be linked to technological progress, swift urban growth, and an upswing in maritime industry investments. The forecast period is also expected to see significant trends like autonomous boats, application of robotics and 3D Printing, and the utilization of advanced composite materials in boat construction.

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What Are the Major Factors Driving Demand in the Boat Building Market?
The escalating interest in recreational boating is projected to fuel the demand for the boat-building market. Recreational boating, a globally recognized pastime, engages many individuals in activities like water skiing, fishing, and traveling. For example, the National Marine Manufacturers Association, a U.S based organization, stated in January 2023 that the U.S. recreational boating industry is worth $170 billion. Representing 85% of recreational boat, marine engine, and accessory manufacturers nationwide, the National Marine Manufacturers Association (NMMA) is a significant determinant. Thus, the upsurge in recreational boating activities is expected to advance the demand for the boat-building market.

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How Are End-Use Segments Shaping the Boat Building Market Outlook?
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

What Are the Strategic Trends Transforming the Boat Building Market Landscape?
Autonomous boat progression is on the rise within the boat manufacturing sector. The frontrunners of this industry are working on state-of-the-art autonomous vessels to stay ahead in the intense business competition. For instance, in 2023, Torghatten ASA, a shipping company based in Norway, collaborated with Zeabuz, a Norwegian tech company, to inaugurate the first-ever emission-free autonomous ferry, MF Estelle. This endeavor aims to improve the travel experiences for their 70 million passengers, using modern autonomous technology, which will essentially set a standard for eco-friendly maritime transportation. In 2022, a Memorandum of Understanding (MOU) was initiated between DNV, Hyundai Heavy Industries (HHI), Avikus, and Liberian International Ship and Corporate Registry (LISCR) for the purpose of advancing autonomous ship technology. The multi-party MOU stipulates that a combined study will be undertaken on the deployment of autonomous navigation systems on marine vessels, which would facilitate industry and flag states in adopting this technology.

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Who Are the Prominent Companies in the Boat Building Market by ?
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

Which Region Is Expected to See the Highest CAGR in the Boat Building Market?
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

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