Boat Building And Repairing Market Characteristics
The boat building and repairing market consists of sales of boats and boat building and repairing services by entities (organizations, sole traders and partnerships) that operate shipyards or boatyards. Shipyards and boatyards are fixed facilities with drydocks and fabrication equipment capable of building boats, including dinghies, hovercrafts, motorboats, rowboats, yachts, sailboats and inflatable rubber boats.
Competitive Landscape of the Boat Building And Repairing Market
Major players in the global Boat building and repairing market include Brunswick Corporation, Riviera Australia, Holyhead Boatyard Ltd, Ancasta International Boat Sales Ltd, Survitec Survival Craft Ltd
Boat Building And Repairing Market Size
The boat building and repairing market size is expected to increase by 2022, significantly growing at a CAGR of around 6.5% during the forecast period. The growth in the Boat building and repairing market is due to increase in demand for boats due to increased tourism in recent years, and the rising demand for military based sea war boats.
However, the market for Boat building and repairing is expected to face certain restraints from several factors such as rising costs in boat building and uncertainty in market.
Boat Building And Repairing Market Segmentation
The global boat building and repairing market is further segmented based on type and geography.
By Type - The boat building and repairing market is segmented into boat building, boat repairing among these segments, the boat building market accounts for the largest share in the global Boat building and repairing market.
By Geography - The global boat building and repairing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global boat building and repairing market.
Trends in the Boat Building And Repairing Market
Self-sailing boats are a new trend in the boat building and repairing industry. Software of self-sailing boats allow these boats to independently move from point-to-point, avoiding obstacles and working with other boats along the way. Boat building companies are getting ready to build self-sailing boats and ships for commercial purpose using robotics technology. Roboat, a project by researchers from MIT, Delft University of Technology and Wageningen University and Research to build a fleet of autonomous canal-going vessels is investing in building day vessels.
Potential Opportunities in the Boat Building And Repairing Market
With increase in demand of sea-based tourism and increasing demand for overseas shipping the scope and potential for the global boat building and repairing market is expected to significantly rise in the forecast period.