Boat Repairing Global Market To Reach Value Of About $8.58 Billion In 2023
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The global boat repairing market is expected to decline from $6.78 billion in 2019 to $6.71 billion in 2020 at a compound annual growth rate (CAGR) of -1.01%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $8.58 billion in 2023 at a CAGR of 8.52%. The increasing demand for recreational boats is anticipated to boost the demand for the boat repairing market.
The boat repairing market consists of sales of boat repairing and related services by entities (organizations, sole traders and partnerships) that operate shipyards or boatyards. Only goods and services traded between entities or sold to end consumers are included.
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The global boat repairing market is further segmented based on type, propulsion and geography.
By Type: Recreational Boats, Commercial Boats, Military Boats, Others.
By Propulsion: Motor Boats, Sail Boats.
By Geography: The global boat repairing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these, the North American region was the largest in the boat repairing market in 2019.
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Trends In The Boat Repairing Market
Robots are used for performing many activities in the maritime industry, from cleaning and maintenance to full-on driverless craft, to reduce the risk for humans and to increase the efficiency of the process.
Boat Repairing Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides boat repairing market overviews, analyzes and forecasts market size and growth for the global boat repairing market, boat repairing market share, boat repairing market players, boat repairing market segments and geographies, boat repairing market’s leading competitors’ revenues, profiles and market shares. The boat repairing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.