Boat Building in Canada
The Boat Building industry in Canada has exhibited a moderate level of volatility over the five years to 2019. The industry, which had been in a period of prolonged decline, experienced renewed growth during the current period. The strength of the Canadian dollar relative to the US dollar at the outset of the period stifled exports and supported the control of imports in the domestic market. Such conditions forced several operators to sell inventory at discounts and operate at a loss or exit the industry. The majority of the industry's revenue growth is attributable to strong performance early during the five-year period. Boat builders have increasingly invested in ecofriendly technology to increase their competitiveness within the industry. Over the five years to 2024, the tides are less assuring for the Canadian Boat Building industry. The industry is projected to become smaller than in the past.
This industry comprises establishments that build boats, which are defined as watercraft not built in shipyards and typically intended for personal use. This does not include establishments engaged in the Ship Building industry in Canada (IBISWorld report 33661aCA).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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