Global Boat Repairing Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

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.

Global Boat Repairing Market Size And Drivers:

The global boat repairing market is expected to grow from $6.33 billion in 2020 to $6.81 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.75 billion in 2025 at a CAGR of 6.5%. The increasing demand for recreational boats is anticipated to boost the demand for the boat building market.

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Trends In The Global 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. For instance, the Robotic Hull Bio-Inspired Underwater Grooming Tool, also called the Hull BUG, is a small robot that attaches to the underside of a vessel to clean the surface. According to the Sea Robotics estimates, 5% of fuel efficiency from regular cleanings saves about $15 billion per year in fuel costs and reduces 1 billion tons of greenhouse gas emission. Robots are expected to offer green and eco-friendly benefits. Therefore, advanced robotics that is influencing maritime operations is a key trend in the maritime industry.

Global Boat Repairing Market Segments:
The global boat repairing market is further segmented –
By Type: Recreational Boats, Commercial Boats, Military Boats, Others
By Propulsion: Motor Boats, Sail Boats
By Services: Collision Damage, Fire Damage, Submergence, Groundings, Transport Damage
By Geography: The global boat repairing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Boat Repairing Global Market Report 2021 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.