Global Boatbuilding Market Report 2021 with Armstrong Marine, Brunswick, Survitec, Ancasta International, Metal Shark, Gulf Craft, Dakota Creek Industries & Main Iron Works
DUBLIN, June 2, 2021 / PRNewswire / – The “Global Boatbuilding Market Report 2021: Impact of COVID-19 and Recovery until 2030” report was added to ResearchAndMarkets.com offer.
Major players in the boat building market are Armstrong Marine United States Inc., Brunswick Corporation (BC), Survitec Group, Ancasta International Boat Sales Ltd, Metal Shark, Gulf Craft LLC, Dakota Creek Industries Inc. and Main Iron Works.
The global boat building market is expected to grow by $ 34.76 billion in 2020 at $ 37.14 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%.
The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges.
The market is expected to reach $ 48.36 billion in 2025 at a CAGR of 6.8%.
The development of self-contained boats is gaining popularity in the shipbuilding market. The best companies in the market develop autonomous boats at the cutting edge of technology to maintain their position in a competitive business environment. For example, in August 2020, Ocious Technology Ltd., an Australian listed company, provided Australia with autonomous boats to monitor refugees at sea. The company has been awarded $ 5.5 billion by the Australian Government Department of Defense for the development of autonomous unmanned surface vessels.
In May 2019, Metal Trail, a CanadaU.S.-based boat builder, worked with Sea Machine Robotics, a U.S.-based autonomous technology company dedicated to building autonomous and navigation systems for the marine and commercial marine industry, to develop an unmanned search and rescue (SAR) boat.
The boat building market covered in this report is segmented by type into pleasure craft; commercial boats; military boats; others and by propulsion in motor boats; sailing boat.
In april 2020, Century Boats, an American boatbuilding company, has acquired Vanquish Boats, a United States-based day boat manufacturer for an undisclosed amount. The acquisition is expected to expand the Century Boats dealership, distribution network and service network. Existing Vanquish models will be reintroduced as Century Coronado, which will add to Century Boats’ existing product portfolio. Vanquish Boats is a premium dual console, cuddy, center console and runabout boat builder.
The growing demand for pleasure craft is expected to drive demand for the boat building market. Boating is a popular leisure activity around the world. Many people participate in boating activities such as water skiing, fishing, and travel.
According to the National Marine Manufacturers Association (NMMA) representing manufacturers of pleasure craft, marine accessories and engines, the United States The boating industry experienced a seventh consecutive year of growth in 2018 with new powerboat retail unit sales of around 280,000 units in 2018, the highest since 2007 and sales increased by approximately 3% to 4% in 2019. Therefore, the surge in recreational boating activities is likely to contribute to the demand for boat building.
Environmental concerns associated with the use of certain materials such as exotic woods, plastics and resins in boat building are expected to limit the growth of the boat building market. Exotic woods from forests, plastics and resins made from petroleum have a significant environmental impact.
There are many environmental issues associated with boat building due to hazardous chemicals used in boat building, exhaust emissions from boat engines, evaporative emissions from fuel systems, and styrene emissions.
According to the United States Environmental Protection Agency, boat manufacturing has been identified as a major source of dangerous air pollution. In addition, global issues such as energy consumption and minimizing the carbon footprint constitute a major issue for players operating in the shipbuilding market.
Main topics covered:
2. Characteristics of the boat building market
3. Trends and strategies in the boat building market
4. Impact of COVID-19 on boat building
5. Size and growth of the boat building market
5.1. Historical global boat building market, 2015-2020, in USD billion
5.1.1. Market drivers
5.1.2. Market constraints
5.2. Global Boat Building Forecast Market, 2020-2025F, 2030F, in USD Billion
5.2.1. Market drivers
5.2.2. Market constraints
6. Segmentation of the boat building market
6.1. Global boat building market, segmentation by type, history and forecast, 2015-2020, 2020-2025F, 2030F, in USD billion
- Pleasure boats
- Commercial boats
- Military Boats
6.2. Global Boatbuilding Market, Propulsion Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.3. Global Boatbuilding Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
- Private use
- Commercial use
- Military use
7. Regional and national analysis of the boat building market
7.1. Global boat building market, divided by region, historical and forecast, 2015-2020, 2020-2025F, 2030F, in USD billion
7.2. Global boat building market, divided by country, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
- Armstrong Marine United States Inc.
- Brunswick Corporation (BC)
- Survitec Group
- Ancasta International Boat Sales Ltd
- Metal shark
- Gulf Craft LLC
- Dakota Creek Industries Inc.
- Main steel plants
For more information on this report, visit https://www.researchandmarkets.com/r/206v2s
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SOURCE Research and Markets