The Boat Building industry, which manufactures watercrafts generally intended for personal use, has grown significantly over the past five years. Since its products are highly discretionary purchases, the industry benefited from increased wages and consumer spending. However, despite improved demand conditions, total revenue remains drastically lower than the industry's prerecessionary highs, and many operators have struggled to remain profitable. IBISWorld anticipates that continued improvements in the overall economy, including rebounding disposable income and growing consumer spending, will cause industry revenue to grow over the five years to 2022. As the growing “green” movement encourages consumers to reduce their carbon footprint, demand for fuel-efficient boats is anticipated to drive boat sales.
This industry builds boats, which are defined as watercraft not built in shipyards, typically intended for personal use. This industry does not include ship building (IBISWorld report 33661a).
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.