Leisure Boat Global Market Report 2023 – By Boat Type (Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Types), By Power Source (Engine Powered, Sail Powered, Human Powered), By Material Type (Aluminum, Fiberglass, Steel, Other Materials), By Application (Fishing, Transportation, Sports, Travel and Tourism, Other Applications) – Market Size, Trends, And Global Forecast 2023-2032

Ship repairing is the service provided after the sale of the ships because it involves giving the ship regular maintenance. The main types in the ship repairing market are oil and chemical tankers, bulk carriers, general cargo, container ships, gas carriers, offshore vessels, passenger ships, ferries, mega yachts, and other vessels. Oil and chemical tankers refer to the tankers that provide oil on ships and are transported. The various applications include general services, dockage, hull parts, engine parts, electric works, auxiliary services. The various end-users are transport companies, the military, and other end-users. The global ship repairing market is segmented - 1) By Vessel Type: Oil and Chemical Tankers, Bulk Carriers, General Cargo, Container Ships, Gas Carriers, Offshore Vessels, Passenger Ships and Ferries, Mega Yachts and Other Vessels 2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services 3) By End-User: Transport Companies, Military, Other End Users The global ship repairing market size will grow from $33.04 billion in 2022 to $36.65 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global ship repairing is expected to grow to $54.05 billion in 2027 at a CAGR of 10.2%. The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The rising population, the surging purchasing power of consumers, and improving standards of living are increasing the demand for consumer goods, leading to high production and rapid industrialization. For instance, according to Hellenic Shipping News data 2021, in the first 10 months of 2021, the global seaborne coal trade increased by 5.1% y-o-y to 984.7 mln tonnes, from 936.7 mln tonnes in the January-October 2020 period. The manufacturing of eco-friendly and advanced ships is supported by the increasing requirement for efficient and cost-effective transport alternatives for the movement of goods. According to Alliance Experts, transport by sea allows shipping large volumes at a lower cost than transport by road, rail, and air. This scenario is expected to drive the demand for the shipbuilding market. Major players in the ship repairing market are Hyundai Mipo Dockyard Co Ltd., China Shipbuilding Industry Corporation (CSIC), Damen Shipyards Group, Sembcorp Marine Ltd., Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Fincantieri S.p.A, Keppel Offshore and Marine. The COVID19 pandemic affected shipbuilding and ship repair facilities globally to a great extent. The pandemic has disrupted almost every area of the shipping industry, after a promising 2019. All levels of operations were affected by yard closures, logistical challenges, and survey delays, while scrubber retrofitting also declined sharply. For instance, in March 2020, the Italian shipyard Fincantieri initially suspended manufacturing in its shipyards for two weeks due to the COVID-19 pandemic crisis, which was then extended for more than a month, which has impacted the business. Therefore, the impact of COVID-19 is expected to hinder the growth of the ship repairing market. Major companies in the ship repair sector are concentrating on the development of advanced technology services for ship repair. For example, in February 2020, Maindeck, a modern SaaS for the ship maintenance and repair industry with a particular emphasis on drydocking projects, launched a mobile inspection app from which they can delegate access to specific sections of the project. The app operates offline and immediately uploads when internet access is detected. In February 2020, Titan Acquisition Holdings, a bicoastal leader in ship repair and modernization and complex fabrication services for the defence industry, acquired Huntington Ingalls Industries for an undisclosed amount. This acquisition creates opportunities to better serve key defence customers through economies of scale, expanded scope, and performance optimization. Huntington Ingalls Industries, a US-based company, engages in the designing, building, overhauling, and repairing of military ships. Asia-Pacific was the largest region in the global ship repairing market in 2022. Western Europe was the second largest market in the global ship repairing market share. The regions covered in the global ship repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries in the ship repairing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The ship repairing market include revenues earned by entities by repairing of ships, conversion, and alteration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ship repairing market research report is one of a series of new reports from The Business Research Company that provides ship repairing market statistics, including global ship repairing industry size, regional shares, competitors with a ship repairing market share, detailed ship repairing market segments, market trends and opportunities, and any further data you may need to thrive in the ship repairing industry. This ship-repairing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The marine hybrid propulsion are hybrid propulsion systems for marine applications that combines combustion engines with battery power to optimize engine operation and reducing emissions. Hybrid propulsion is a propulsion system for a vehicle that involves two or more sources of propulsion in one design usually that can be used collectively or alternately. Hybrid propulsion improves the fuel efficiency of vessels with variable power demands such as tug boats, fishing vessels, and others. The main propulsion types of marine hybrid propulsion are diesel-electric, parallel hybrid, serial hybrid, full electric, gas turbine, and fuel cell. A diesel-electric propulsion system can employ a single engine to drive several propellers or several engines to power one or more propellers. Electric propulsion is widely used in specific vessel designs. Diesel engines provide approximately 90% of the energy in marine applications. In a parallel hybrid propulsion system, the engine and electric motor work in tandem to generate the power that drives the wheels. When power demands are low, parallel hybrids utilize the motor as a generator for supplemental recharging. The serial hybrid system uses a single electric motor and can both generate power and store energy. The system optimizes fuel consumption with a constant-speed generator engine. Full electric propulsion systems utilize electrical power to drive propeller blades for propulsion. Normally electrical propulsion is used in small vessels but nowadays shipping companies are adopting this system for big-size cargo vessels as well. A gas turbine propulsion system is a type of continuous and internal combustion engine that pulls together all of the systems and subsystems associated with gas turbine engines in aircraft and marine warship applications. Fuel cell propulsion systems are similar to that of electric vehicles, where energy stored as hydrogen is converted to electricity by the fuel cell. The different types of ships include anchor handling tug supply vessels, platform supply vessels, yachts, motor ferry, cruise liner, and others and operates in various power ranges such as 0-300 KW, 301-500KW, and 501KW-800KW. It is used in commercial, logistics, offshore drilling and naval, and other applications. The global marine hybrid propulsion market is segmented - 1) By Propulsion Type: By Propulsion Type, Diesel-Electric, Parallel Hybrid, Serial Hybrid, Full Electric, Gas Turbine, Fuel cell 2) By Ship Type: Anchor Handling Tug Supply Vessels, Platform Supply Vessels, Yachts, Motor Ferry, Cruise Liner, Others 3) By Power Rating: 0-300 KW, 301-500 KW, 501-800 KW 4) By Application: Commercial, Logistics, Offshore Drilling, Naval, Others The global marine hybrid propulsion market size grew from $3.52 billion in 2022 to $3.96 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of global marine hybrid propulsion is expected to grow to $6.12 billion in 2027 at a CAGR of 11.5%. An increase in international trade is contributing to the growth of the marine hybrid propulsion market. Most of the internationally traded goods are transported using cargo vessels and ships. Hybrid propulsion improves the fuel efficiency of vessels with variable power demands. According to UNCTAD’s Global Trade Update, in 2021, there was an overall record value of $28.5 trillion in global trade, compared to 2020, the increase was about 25%, and compared to 2019, it was about 13%. Increased commodity prices, subsiding pandemic restrictions, and strong economic stimulus packages all contributed to the positive trend in international trade in 2021. Thus, the surge in international trade boosts the number of cargo vessels and ships fleet and which in turn, drives the market for marine hybrid propulsion. Major players in the marine hybrid propulsion market are BAE Systems, Schottel, MAN Energy Solutions, Siemens, ABB Ltd., General Electric Company, Steyr Motors, Mitsubishi Heavy Industries, Torqeedo, and Wartsila Corporation. The launch of integrated propulsion systems has emerged as a key trend in the marine hybrid propulsion market. Major players operating in the marine hybrid propulsion field are focusing on introducing new hybrid propulsion systems to improve performance, environmental compatibility, and propulsion system versatility. For instance, in November 2020, Havyard, a Norwegian shipbuilding group announced that its new hydrogen propulsion system for large ocean-going ships should be completed next year as a potential alternative fuel to help reduce its carbon footprint. It has developed a ship’s propulsion systems with integrated LH2 tanks and fuel cells. In June 2020, Gula Skrinet AB, a global supplier of customized marine propulsion systems acquired Caterpillar Propulsion AB for an undisclosed amount. The proposed acquisition develops Gula Skrinet AB’s external relationships, products, and services in close cooperation with customers and partners. Caterpillar Propulsion AB is a Sweden-based manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships. Europe was the largest region in the marine hybrid propulsion market share in 2022. The regions covered in the global marine hybrid propulsion market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the marine hybrid propulsion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The marine hybrid propulsion market consists of sales of electric motor, energy storage device, battery system, electric machine, power electronics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The marine hybrid propulsion market research report is one of a series of new reports from The Business Research Company that provides marine hybrid propulsion market statistics, including marine hybrid propulsion industry global market size, regional shares, competitors with a marine hybrid propulsion market share, detailed marine hybrid propulsion market segments, market trends and opportunities, and any further data you may need to thrive in the marine hybrid propulsion industry. This marine hybrid propulsion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The recreational boating is used for leisurely, fun, and pleasure activities of travelling on water in a boat. A recreational boat is any vessel that is capable of active, self-propelled movement and is primarily employed for enjoyment, fishing, or commercial purposes. The main boat type in recreational boating market are yachts, sailboats, personal watercrafts, inflatables and others. The yachts recreational boating comprises of a boat having sails and, on rare occasions, an engine or a huge and usually costly vessel. The yachts are used for racing or for travelling around for pleasure. Different types of engine placements are outboards, inboards, and others use materials such as aluminum, fiberglass, steel and others. The various boat sizes include up to 20 ft., 21 ft. to 35 ft., and 36 ft. to 50 ft. for activities such as cruising, water sports, and fishing. The global recreational boating market is segmented - 1) By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Boats 2) By Engine Placement: Outboards, Inboards, Other Engine Placements 3) By Material Type: Aluminum, Fiberglass, Steel, Other Materials 4) By Boat Size: Up to 20 Ft., 21 Ft. to 35 Ft., 36 Ft. to 50 Ft. 5) By Activity Type: Cruising, Water Sports, Fishing The global recreational boating market size will grow from $28.71 billion in 2022 to $31.04 billion in 2023, at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global recreational boating is expected to grow to $44.04 billion in 2027 at a CAGR of 9.1%. The growing tourism industry will propel the growth of the recreational boating market. The tourism sector, sometimes known as the travel industry, is associated with individuals travelling to other regions, either locally or globally, for leisure, social, or business reasons. It is inextricably linked to the hotel, hospitality, and transportation industries, and much of it revolves around keeping visitors happy, amused, and well-equipped during their time away from home. In 2021, according to the report published by Invest India, The travel and tourism industry is predicted to rise to USD 512 billion by 2028. According to the report published by World Tourism Organization (UNWTO) in 2020, globally, 1.5 billion international tourist arrivals were recorded. A 4% growth over the previous year is expected for 2020, establishing tourism as a prominent and resilient economic industry. Therefore, the growing tourism industry drives the growth of the recreational boating market. Major players in the recreational boating market are Azimut Benetti Group, Brunswick Corporation, Groupe Beneteau, Sunseeker International Limited, Hobie Cat Company Inc., White River Marine Group, Yamaha Motor Co. Ltd., American Sail Inc., Marine Products Corporation, Mastercraft Boat Holdings Inc., Polaris Inc., Ferretti, Princess, MacGregor, Hunter, Maverick Boat Group Inc., (Malibu Boats), Baja Bound Insurance Services Inc., Catalina Yachts, Grady-White Boats Inc., Chaparral Boats Inc., (Marine Products Corporation), Edenton Boatworks LLC, Baja Marine, Bayliner, Mahindra & Mahindra Ltd., Carnival Corporation & plc, Royal Caribbean Cruises Ltd and Norwegian Cruise Line Holdings Ltd. New product development is a key trend gaining popularity in the recreational boating market. Companies are developing new products to support the recreational boating market. New product launches help players in expanding their product portfolio, acquire new customers, and enhancing their market presence. For instance, in June 2021, Sunseeker a UK-based company specializing in making luxury motor yachts has launched their new 100 yacht, which features a master suite, private bow terrace, sunbathing hideaways, and luxurious furnishings. The yacht is powered by the best engines MTU 12V 2000 M96X and MTU 16V 2000 M96L and it can also accommodate smaller jet boats for water activities. This new model boasts several industry-first features and entertainment possibilities, including an open-plan bow to stern entertainment flybridge and a king Stateroom with private access to the bow terrace. In October 2021, Groupe Beneteau, a France-based company specializing in recreational boats has acquired Starfisher for an undisclosed amount. The acquisition strengthens the Group Beneteau to develop a foothold in Portugal and increase its position in the 25- to 35-foot powerboat sector and also will be able to expand our small motorboat production capacity and establish ourselves in Portugal as a result of this acquisition. Starfisher is a Portugal-based company that designs and builds motorboats. North America was the largest region in the recreational boating market in 2022. The regions covered in the global recreational boating market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the recreational boating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The recreational boating market includes revenues earned by entities by towboats, fishing boats, sailboats, cabin cruisers and pontoon boats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The recreational boating market research report is one of a series of new reports from The Business Research Company that provides recreational boating market statistics, including recreational boating industry global market size, regional shares, competitors with a recreational boating market share, detailed recreational boating market segments, market trends and opportunities, and any further data you may need to thrive in the recreational boating industry. This recreational boating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Yacht charter refers to a contract for the provision of sailing or motor yachts on a temporary basis. The charterer, or ship owner, hires out his ship for a price. The skipper of the yacht does not have to be the person who charters the yacht. These are used for a specific period of time as a part of marine tourism for luxurious experiences. The main types of yacht charter are motorized yachts, sailing yachts, and other types. A sailing yacht refers to a small boat that uses wind power to propel it forward. The contract includes bareboat charter, and crewed charter. The various sizes include large, medium, and small and are used in vacation or leisure, sailing, and other applications. The global yacht charter market is segmented – 1) By Type: Motorized Yacht, Sailing Yacht, Other Types 2) By Contract: Bareboat Charter, Crewed Charter 3) By Size: Large, Medium, Small 4) By Application: Vacation/ Leisure, Sailing, Other Applications The global yacht charter market size will grow from $13.51 billion in 2022 to $14.94 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of yacht charter market is expected to grow to $22.02 billion in 2027 at a CAGR of 10.2%. The growing popularity of luxury marine tourism is expected to propel the growth of the yacht charter market going forward. Marine tourism refers to leisure endeavors entailing travel away from one's home and having the marine environment as their host or main focus. Yacht charters are widely used as a premium form of marine tourism for luxurious and tremendous experiences. For instance, according to India.com, an India-based news portal, the luxury cruise tourism, the industry has seen a 50% increase in growth. The total number of cruise calls on Chennai, Cochin, Mumbai, Mangalore, and Mormugao was 285 in 2019 and is expected to climb to 593 in 2020. Therefore, the growing popularity of luxury marine tourism is driving the growth of the yacht charter market. Major players in the yacht charter market are Northrop & Johnson, Yachtico Inc., Sailogy S.A., Burgess, Princess Yacht Charter, Fraser Yacht, Beneteau S.A, Sunseeker International Ltd., The Moorings Limited, Camper & Nicholsons International Ltd., Sunsail Worldwide Sailing Ltd., Argo Nautical Limited, Kiriacoulis Mediterranean Cruises Shipping S.A., Boat International Media Ltd and Le Boat. Product innovations are a key trend gaining popularity in the yacht charter market. Major companies operating in the yacht charter market are focused on developing new product innovation solutions to strengthen their position in the market. For instance, in April 2022, Sunseeker, a UK-based luxury motor yacht manufacturer, launched a 30m Sunseeker 100 that started a new era in flybridge design and functionality for the British yard. This was the first 29.85-meter sunseeker consisting of unique entertainment features at the fore, the sweeping flybridge, with complete walk-around access from bow to stern, which is one of the exceptional entertainment areas that define the 100 Yacht. In April 2022, Northrop & Johnson, a US-based superyacht brokerage and charter firm, acquired Superyacht Management Company SYM for an undisclosed amount. This transaction increases the range of superyacht services offered by Northrop & Johnson and establishes the firm as a full-service brokerage handling all facets of superyacht ownership. Superyacht Management Company SYM is a France-based provider of services focused on the operational and management side of owning a superyacht. Europe was the largest region in the yacht charter market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in yacht charter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the yacht chartermarket report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The yacht charter market includes revenues earned by entities by chartering a motor yacht to make a profit off of the investment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The yacht charter market research report is one of a series of new reports from The Business Research Company that provides yacht charter market statistics, including yacht charter industry global market size, regional shares, competitors with a yacht charter market share, detailed yacht charter market segments, market trends and opportunities, and any further data you may need to thrive in the yacht charter industry. This yacht charter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Motor vehicle electrical and electronic components are electrically regulated components that draw power from the batteries and feed it back through the furnace to the battery. The main types of motor vehicle electrical and electronic equipment are lighting equipment, automatic voltage and voltage-current regulators, insulated ignition wiring sets, generators for internal combustion engines, spark plugs for internal combustion, and other types. Lighting equipment refers to the electronic equipment that is considered for usage in motor vehicles. The various vehicle types include two-wheelers, passenger cars, and commercial vehicles. The various vehicle classes are mid-priced and luxury. The global motor vehicle electrical and electronic equipment market is segmented - 1) By Product Type: Lighting Equipment, Automatic Voltage And Voltage-Current Regulators, Insulated Ignition Wiring Sets, Generators For Internal Combustion Engines, Spark Plugs For Internal Combustion, Other Product Types 2) By Vehicle Type: Two-Wheelers, Passenger Cars, Commercial Vehicles 3) By Vehicle Class: Mid-Priced, Luxury The global motor vehicle electrical and electronic equipment market size will grow from $171.37 billion in 2022 to $190.32 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global motor vehicle electrical and electronic equipment is expected to grow to $284.26 billion in 2027 at a CAGR of 10.5%. The motor vehicle electrical and electronic equipment market is driven by the increase in the demand for safer vehicles equipped with electrical and electronic safety equipment to minimize the risk of road accidents. The rise in the number of accidents is a result of reckless driving, over speeding, a decline in following traffic rules, and drunken driving. Electrical and electronic systems such as anti-lock braking systems (ABS) increase the safety of the vehicle by preventing wheels from locking up during a fast-breaking process. For instance, NHTSA (National Highway Traffic Safety Administration) estimates 8,730 people died in motor vehicle crashes in the first three months of 2021 in its most recent report, Early Estimate of Motor Vehicle Traffic Fatalities. This figure was up by 10.5% as compared to the 7,900 fatalities projected by the agency for the first quarter of 2020. Hence, the global new car assessment programme (Global NCAP) has initiated a goal of the UN Decade of Action for Road Safety and also establishes new goals for 2030 to avoid these road crashes and maintain safety. The demand for vehicles that are less prone to accidents has a positive impact on the growth of the motor vehicle electrical and electronic equipment market. Major players in the motor vehicle electrical and electronic equipment market are Bosch, General Motors Corp., TenneCo., DENSO Manufacturing Tennessee, Delphi Corp., Hyundai, Hella, Technitrol Delaware Inc., Ford Motor Co., and Technitrol Delaware Inc. The risk of life-threatening accidents due to the failure of electrical and electronic equipment in motor vehicles has a negative impact on the growth of the motor vehicle electrical and electronic equipment market. Any malfunctions with the electrical systems in the vehicles can lead to serious accidents. As reported by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, an agency of the U.S. federal government, electrical system failure was the cause of 21% of motor vehicle accidents. In 2020, Toyota and Honda will recall over 6 million vehicles globally, which is a danger to travelers. The Toyota recall affects about 3.4 million vehicles globally and is being done because the airbags may not expand in a crash. Honda's recall covers approximately 2.7 million vehicles in the US and Canada with Takata airbag inflators. The risk involved with the failure of electrical and electronic equipment in motor vehicles restricts the growth of the market. Motor vehicle electrical and electronic equipment market manufacturers are investing in improving the electronic sensors used in motor vehicles such as cars and trucks to increase visibility and awareness. Some vehicle sensors include ambient light, battery current, differential oil temperature, door open warning, anti-lock braking system (ABS), auto door lock position, battery temperature, brake power booster. Companies involved in the market are now developing sensors to help improve battery life in cars. For instance, in May 2022, Continental AG, a German automotive parts manufacturing company launched new sensors for electric vehicles, the Current Sensor Module (CSM) and Battery Impact Detection (BID). These two solutions are focused on protecting batteries and/or preserving battery parameters. A compact, single-unit CSM measures current independently by integrating both shunt technology and hall technology to support strict functional safety requirements The improvement in sensor technology marks the latest trend among the companies involved in the motor vehicle electrical and equipment market In June 2021, Hyundai Motor Group, a company manufacturing automotives based in South Korea, acquired Boston Dynamics Inc. for a deal amount of 1.1 billion. With this acquisition, the Hyundai Group expands its strategic transformation into a smart mobility solution provider and has invested substantially in the development of future technologies, including artificial intelligence (AI), autonomous driving, urban air mobility (UAM), smart factories, and robots. Boston Dynamics Inc., a company operating in motor vehicle electrical and electronic equipment specializing in robots, is based in the United States. Asia-Pacific was the largest region in the motor vehicle electrical and electronic equipment market in 2022. Western Europe was the second largest market in the global motor vehicle electrical and electronic equipment market share. The regions covered in the global motor vehicle electrical and electronic equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle electrical and electronic equipment market include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The motor vehicle electrical and electronic equipment market consist of sales of power windows, power steering, headlights and other exterior lights, windshield wipers, and defroster. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The motor vehicle electrical and electronic equipment market research report is one of a series of new reports from The Business Research Company that provides motor vehicle electrical and electronic equipment market statistics, including motor vehicle electrical and electronic equipment industry global market size, regional shares, competitors with a motor vehicle electrical and electronic equipment market share, detailed motor vehicle electrical and electronic equipment market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle electrical and electronic equipment industry. This motor vehicle electrical and electronic equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Ship and boat building refers to building a new ship or boat from the ground up to completion based on the required design. Ship Repair is the service provided after the sale of the product because it involves giving the ship regular maintenance. The main types in the ship and boat building and repairing market are shipbuilding and repairing, boat building and repairing. Repairing refers to the servicing and maintaining of motor vehicles, such as overhauling motor vehicles, replacing components of motor vehicles, modifying and changing motor vehicles, and painting the surfaces of motor vehicles. The various applications include general services, dockage, hull parts, engine parts, electric works, auxiliary services. These are used by transport companies, the military, and other end users. The global ship and boat building and repairing market is segmented - 1) By Type: Ship Building And Repairing, Boat Building And Repairing 2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services 3) By End-User: Transport Companies, Military, Other End Users Subsegments Covered: Ship Building, Ship Repairing, Boat Building, Boat Repairing The global ship and boat building and repairing market size grew from $264.86 billion in 2022 to $287.14 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ship and boat building and repairing market is expected to grow to $389.37 billion in 2027 at a CAGR of 7.9%. The ship and boat building and repair market is aided by stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. Major companies in the ship and boat building and repairing market include Samsung Heavy Industries Co Ltd., Daewoo shipbuilding & marine engineering, BRP Inc., BRUNSWICK CORPORATION, Fincantieri SpA, General Dynamics, Huntington Ingalls Industries, China Shipbuilding Industry Corp, China CSSC Holdings Limited, and Berkshire Hathaway Inc. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the ship and boat building and repair market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak continues to hurt businesses throughout 2020 and into 2021. However, it is expected that the ship and boat building and repairing market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Shipbuilding companies around the world are increasingly using green shipbuilding technologies to comply with environmental rules and regulations. Technologies being used for shipbuilding include ships with no ballast systems that block organisms entering the ship and eliminate the need for sterilisation equipment; sulphur scrubber systems; waste heat recovery systems; speed nozzles; exhaust gas recirculation systems; advanced rudder and propeller systems; fuel and solar cell propulsion systems; and the use of LNG fuels for propulsion and auxiliary engines. Ships built using these technologies have significant energy savings and low carbon emissions. For instance, Peace Boat, a Japanese non-profit NGO, has entered into an agreement with a Finnish shipbuilding company, Arctech Helsinki Shipyard, for the construction of Ecoship, the world's greenest cruise vessel. The Dean Shipyards Group is also coordinating a green LeanShips project aimed at creating less polluting vessels. Asia-Pacific was the largest region in the ship and boat building and repairing market in 2022. Western Europe was the second largest market in ship and boat building and repairing market. The regions covered in the ship and boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries of the ship and boat building and repairing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore; South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The ship and boat building and repairing market includes revenues earned by entities by construction of ships, their repair, conversion, and alteration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ship and boat building and repairing market research report is one of a series of new reports from The Business Research Company that provides ship and boat building and repairing market statistics, including ship and boat building and repairing industry, global ship and boat building and repairing market size, regional ship and boat building and repairing market shares, competitors with a ship and boat building and repairing market share, detailed ship and boat building and repairing market segments, ship and boat building and repairing market trends and opportunities, and any further data you may need to thrive in the ship and boat building and repairing industry. This ship and boat building and repairing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Boat building refers to designing and constructing boats, as well as their systems. Boat building typically occurs in a specialized space known as a boatyard. The main types of boat building are recreational boats, commercial boats, military boats, and other types. Recreational boats refer to boats that are used for recreational purposes. The various propulsions include motorboats and sailboats. It is used in various applications, such as private use, commercial use, and military use. The global boat building market is segmented - 1) By Type: Recreational Boats, Commercial Boats, Military Boats, Other Types 2) By Propulsion: Motor Boats, Sail Boats 3) By Application: Private Use, Commercial Use, Milatary Use The global boat building market size will grow from $32.60 billion in 2022 to $35.19 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global boat building is expected to grow to $47.07 billion in 2027 at a CAGR of 7.5%. The increasing demand for recreational boats is anticipated to boost the demand for the boat-building market. Recreational boating is a popular leisure activity across the globe. Many people participate in recreational boating activities such as water skiing, fishing, and travel. According to the National Marine Manufacturers Association (NMMA), representing recreational boat, marine accessories, and engine manufacturers, the US recreational boating industry saw a growth of 12% with the sales of 310,000 powerboats in 2020, compared to 280,000 units sold in 2019. Therefore, the surge in recreational boating is likely to contribute to the demand for boat building market. Major players in the boat building market are Armstrong Marine USA Inc., Brunswick Corporation (BC), Survitec Group, Ancasta International Boat Sales Ltd., Metal Shark, Gulf Craft LLC., Dakota Creek Industries Inc., and Main Iron Works. Environmental concerns associated with the usage of certain materials such as exotic woods, plastics, and resins during boat manufacturing are expected to limit the growth of the boat building market. Exotic woods from forests, plastics, and resins manufactured from petroleum have a significant environmental impact. There are many environmental issues associated with boat building due to hazardous chemicals used in boat building, exhaust emissions from boat engines, evaporative emissions from fuel systems, and styrene emissions. According to the United States Environmental Protection Agency, boat manufacturing has been identified as a major source of hazardous air pollution. Furthermore, global issues such as energy usage and minimizing the carbon footprint are major challenges for players operating in the boat building market. The development of autonomous boats is gaining popularity in the boat building market. Top companies in the market are developing technologically advanced autonomous boats to maintain their position in a competitive business environment. For instance, in August 2020, Ocious Technology Ltd., an Australian public listed company, provided Australia with autonomous boats to watch out for refugees at sea. The company was awarded $5.5 billion by the Australian government’s Department of Defense for the development of autonomous unmanned surface vessels. In September 2022, DNV entered a memorandum of understanding (MOU) with Hyundai Heavy Industries (HHI), Avikus, and Liberian International Ship & Corporate Registry (LISCR) to develop autonomous ship technology. According to the multilateral MoU, the entities will carry out a joint study on autonomous navigation systems on board ships to help the industry and flag states adopt the technology. In April 2020, Century Boats, an American boat building company, acquired Vanquish Boats, a US-based dayboat manufacturer, for an undisclosed amount. The acquisition is expected to expand Century Boats’ dealership, distribution network, and service network. The existing models of Vanquish will be reintroduced as Century Coronado, which will add to Century Boats’ existing product portfolio. Vanquish Boats is a builder of dual console, cuddy, premium centre console, and runabout dayboats. North America was the largest region in the boat building market in 2022. Asia-Pacific was the second largest market in the global boat building market share. The regions covered in the global boat building market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the boat building market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The boatbuilding market include revenues earned by entities by constructing trawler, tug, deck boat, dingy, lifeboat, sailboat, and cuddy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The boat building market research report is one of a series of new reports from The Business Research Company that provides boat building market statistics, including boat building industry global market size, regional shares, competitors with a boat building market share, detailed boat building market segments, market trends and opportunities, and any further data you may need to thrive in the boat building industry. This boat building market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Recreation refers to all the activities that people choose to refresh their minds and bodies and make their free time more enjoyable and interesting. Recreation improves concentration skills and the ability to manage anxiety and stress. Enhanced social skills develop skills such as cooperation and teamwork, and a great way to have fun, meet new people and develop friendships. The main types of recreation are amusements, arts, and sports. Sports services provide live sporting events before a paying audience or entities that operate golf courses and country clubs, skiing facilities, marinas, fitness and recreational sports centers, and bowling centers. The different age groups include aged 35 and younger, aged 35-54, aged 55 and older, and involve various revenue sources such as media rights, merchandising, tickets and sponsorship. The global recreation market is segmented - 1) By Type: Amusements, Arts, Sports 2) By Age Group: Aged 35 and Younger, Aged 35-54, Aged 55 and Older 3) By Revenue Source: Media Rights, Merchandising, Tickets and Sponsorship Subsegments Covered: Amusement Parks, Gambling, Museums, Historical Sites, Zoos, And Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters, Spectator Sports, Participatory Sports The global recreation market size grew from $1,443.83 billion in 2022 to $1,900.67 billion in 2023 at a compound annual growth rate (CAGR) of 31.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global recreation market is expected to grow to $2,194.09 billion in 2027 at a CAGR of 3.7%. The recreation market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth was 3.5% in 2020, up from 3.2% in 2019. Recovering commodity prices are further expected to aid market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, India's GDP grew by 7.2%, whereas China registered a GDP growth of 6.0% in 2020. Stable economic growth is expected in end-user markets, thereby driving the market during the forecast period. This continued economic growth is expected to increase investments in the end-user markets and be a driver of the recreation market as greater affluence allows consumers to visit recreation centers. Major companies in the recreation market include China Sports Lottery, China Welfare Lottery, The Walt Disney Company, Sociedad Estatal Loterías y Apuestas del Estado S.A., Maruhan, Flutter Entertainment plc, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., CJ Corp, and Oriental Land Company Ltd. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the recreation market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in the closure of recreational facilities such as amusement parks, museums, and casinos with countries entering a state of 'lockdown' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the recreation market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. Virtual reality is a 3D, computer-generated environment that can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi The Ride, which can reach speeds of more than 43 mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements. Asia-Pacific was the largest region in the recreation market share in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the global recreation market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the recreation market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The recreation market includes revenues earned by entities by operating amusements facilities, operating facilities or providing services for cultural, entertainment, and recreational interests, providing live sporting events before a paying audience, and operating golf courses and country clubs, skiing facilities, marinas, fitness, and recreational sports centers, and bowling centers. Gambling, except casino hotels, can also be considered to be part of the recreation market. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The recreation market research report is one of a series of new reports from The Business Research Company that provides recreation market statistics, including recreation industry global market size, regional shares, competitors with a recreation market share, detailed recreation market segments, market trends, and opportunities, and any further data you may need to thrive in the recreation industry. This recreation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.