Boat Building in the US - Industry Market Research Report

Boat Building in the US - Industry Market Research Report

  • June 2020 •
  • 42 pages •
  • Report ID: 198816 •
  • Format: PDF
Rough waters: Constrained economic growth overseas may cut into export markets

Abstract

Boat Building in the US
The Boat Building industry, which manufactures watercraft generally intended for personal use, has experienced revenue growth over the five years to 2019. Since its products are highly discretionary purchases, the industry has benefited from increased consumer confidence, rising disposable income and heightened spending. However, despite improved demand conditions, total revenue remains lower than the industry’s atypical prerecession highs. In addition, instead of purchasing new vessels, some owners have maintained the ones they had or bought used boats. Nonetheless, industry revenue has increased over the past five years. Industry revenue is forecast to continue to rise over the five years to 2024. While overall demand is expected to continue to expand as consumer spending increases and boats continue to age, several factors are expected to temper growth during the outlook period.

Operators in this industry build 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.
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