PUBLISHER: The Business Research Company | PRODUCT CODE: 1779268
PUBLISHER: The Business Research Company | PRODUCT CODE: 1779268
Boat building and repairing involve the design, construction, alteration, and repair of boats and their systems.
The main types within the boat building and repairing market are boat building and boat repairing. This market pertains to facilities primarily used for the maintenance and construction of boats. The various propulsion systems encompass motorboats and sailboats, utilized for private, commercial, and military purposes.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and ensuing trade tensions in spring 2025 are placing significant strain on the transport sector, especially in areas such as fleet maintenance and logistics. Increased duties on imported commercial vehicles, tires, and engine parts have driven up operating costs for trucking and freight firms, forcing them to either raise shipping rates or accept lower profit margins. Airlines and maritime operators are also under pressure, as tariffs on aircraft components and shipbuilding materials have pushed capital expenditures higher. Meanwhile, retaliatory tariffs in key export markets have weakened demand for U.S.-manufactured transportation equipment, further squeezing revenues. To cope, the industry is turning to fuel efficiency measures, alternative supply sources, and greater automation to manage rising costs while maintaining dependable service.
The boat building and repairing market research report is one of a series of new reports from The Business Research Company that provides boat building and repairing market statistics, including boat building and repairing industry global market size, regional shares, competitors with a boat building and repairing market share, detailed boat building and repairing market segments, market trends and opportunities, and any further data you may need to thrive in the boat building and repairing industry. This 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 scenario of the industry.
The boat building and repairing market size has grown strongly in recent years. It will grow from $48.85 billion in 2024 to $51.71 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increased growth in fishing industry, tourism industry, manufacturing innovation, consumer preferences, global trade in boats, increased boat shows and events.
The boat building and repairing market size is expected to see strong growth in the next few years. It will grow to $67.17 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising disposable income, boating infrastructure development, electric and hybrid propulsion, boat rental and sharing services, marine conservation efforts, luxury yacht market. Major trends in the forecast period include innovation in sustainable materials, advanced navigation and communication systems, customization for luxury and personalization, adoption of 3d printing technology, digital tools for design and manufacturing.
The forecast of 6.8% growth over the next five years reflects a modest reduction of 0.4% from the previous estimate for this market.This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through tariffs on hull materials, navigation electronics, and repair kits sourced from Asia and Europe, raising total project costs and limiting affordability in both new builds and retrofits.The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The boat-building and repairing market is expected to witness growth due to the increasing occurrence of natural disasters. Catastrophic events such as hurricanes, floods, and storms can cause substantial damage to boats and vessels, necessitating repair and restoration work. In the United States, for example, the National Centers for Environmental Information reported 18 weather-related disasters in 2022, including tornado outbreaks, tropical cyclones, and severe weather, with a minimum economic impact of $1 billion. This trend is driving the boat-building and repairing market as the need for repairs rises.
The boat-building and repairing market is also set to benefit from the growing tourism industry. As the tourism sector expands globally, recreational activities such as boating and water sports gain popularity. Tourist destinations attracting more travelers contribute to the demand for boats, supporting the boat-building and repairing industry. According to the United Nations World Tourism Organization, international tourist receipts exceeded USD 1 trillion in May 2023, marking a 50% increase in real terms over 2021. The flourishing tourism industry is a significant driver for the boat-building and repairing market.
Continued technological advancements are expected to drive growth in the boat building and repairing market. Over the last decade, the global industry has witnessed various technological innovations, and this trend is projected to amplify. Emerging features in boats include autonomous driving, black finishing, wellness features, modern lighting, driver override systems, comprehensive tracking, active health monitoring, and reconfigurable body panels. These innovations are poised to propel the boat building and repair market during the forecast period.
3D printing technology is increasingly being adopted by boatbuilding companies for manufacturing. This additive manufacturing process involves constructing three-dimensional objects from a digital model by layering successive materials. Boat manufacturers benefit from 3D printing due to its adjustability, cost-effectiveness, and convenience. Companies are focusing on developing new products, particularly for fishing and water sports, leveraging 3D printing technology. Notably, high-end yachts are incorporating 3D printed parts, exemplified by the UMaine team in the USA, which utilized the largest prototype polymer 3D printer to build the largest 3D printed boat.
Major companies operating in the boat building and repairing market include Polaris Industries Inc., Fincantieri Societa per Azioni, Brunswick Corporation, Bombardier Recreational Products Inc., Daewoo Shipbuilding & Marine Engineering Co. Ltd., Groupe Beneteau S.A., Azimut-Benetti S.p.A., Malibu Boats Inc., Hinckley Yachts, Chaparral Boats Inc., MasterCraft Boat Holdings Inc., Marine Products Corporation of America, Sunseeker International Limited, Fountain Powerboats Inc., Bavaria Yachtbau GmbH, Ocean Alexander Yachts, Marlow Yachts, Palmer Johnson Yachts, Catalina Direct LLC, Avon Marine Ltd., Baja Marine Inc., Trawler Yacht Sales, Nautic Global Inc., Ferretti S.p.A.
Asia-Pacific was the largest region in the boat building and repairing market in 2024. North America was the second-largest region in the boat building and repairing market. The regions covered in the boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the boat building and repairing market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The boatbuilding and repairing market include revenues earned by entities by constructing hulls of boats and, for sailboats, the masts, spars and rigging. 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.
Boat Building And Repairing Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on boat building and repairing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for boat building and repairing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The boat building and repairing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.