Boat Building Market Growth Trajectory Through 2024-2033|Brunswick Boat Group, General Dynamics, Groupe Beneteau, Azimut-Benetti Group, Ferretti S.P.A.

The Boat Building by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Boat Building, The boat building market size has grown strongly in recent years. It will grow from $34.77 billion in 2023 to $37 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to rising population, increase in demand for recreational boats, low interest rates, and strong economic growth in emerging markets.

The boat building market size is expected to see strong growth in the next few years. It will grow to $47.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to technological advances, rapid urbanization, and rise in investment in the maritime industry . Major trends in the forecast period include autonomous boats, 3d printing, application of robotics, and advanced composite materials for boat building. player-adopted strategies in the boat building market include investing in expanding manufacturing operations, improving infrastructure and acquisitions and mergers to strengthen their service offerings.

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 annual U.S. sales of boats, marine products, and services totaled $56.7 billion in 2021, up 12.7% from 2020. Therefore, the surge in recreational boating is likely to contribute to the demand for boat building market.

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The boat building market covered in this report is segmented –

1) By Type: Recreational Boats, Commercial Boats, Military Boats
2) By Propulsion: Motor Boats, Sail Boats
3) By Application: Private Use, Commercial Use, Military Use

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 June 2023, Torghatten ASA, a Norway-based shipping company partnered with Zeabuz, a Norway-based technology company to launch the world’s first emission-free autonomous ferry, MF Estelle, enhancing passenger experiences for the company’s 70 million travelers with advanced autonomous technology and setting a precedent for sustainable maritime transportation. 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.

The boat building market report table of contents includes:

1. Executive Summary
2. Boat Building Market Characteristics
3. Boat Building Market Trends And Strategies
4. Boat Building Market – Macro Economic Scenario
5. Global Boat Building Market Size and Growth

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32. Global Boat Building Market Competitive Benchmarking
33. Global Boat Building Market Competitive Dashboard
34. Key Mergers And Acquisitions In Boat Building Market
35. Boat Building Market Future Outlook and Potential Analysis
36. Appendix

 

Top Major Players :

• Brunswick Boat Grou
• General Dynamics
• Groupe Beneteau,
• Azimut-Benetti Group
• Ferretti S.P.A.

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