Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Tuesday, January 26, 2021 · 535,092,899 Articles · 3+ Million Readers

Boat Building Market Sees Boost In Demand Due To Surge In Recreational Boating For Leisure Activity

Boat Building Market Report 2020-30: COVID 19 Growth And Change

Boat Building Global Market Report 2020-30: COVID 19 Growth And Change

The Business Research Company’s Boat Building Market Report - Opportunities And Strategies - Global Forecast To 2030

LONDON, GREATER LONDON, UK, December 4, 2020 /EINPresswire.com/ -- Avail up to 50% off on ALL research reports at: https://www.thebusinessresearchcompany.com/global-market-reports. Offer applies until Dec 31st.

The global boat building market is segmented by type into recreational boats, commercial boats, military boats, and others. The market is also segmented by propulsion into motorboats and sail boats.

The increasing demand for recreational boats is anticipated to boost the demand for the boat building and repairing market. Recreational boating is a popular leisure activity across the global boat building industry. 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 USA recreational boating industry saw a seventh consecutive year of growth in 2018 with the retail unit sales of new powerboats of about 280,000 units in 2018, highest since 2007 and the sales grew by approximately 3% to 4% in 2019. Therefore, the surge in recreational boating is likely to contribute to the demand for boat building.

The global boat building market size is expected to decline from $37.49 billion in 2019 to $36.87 billion in 2020 at a compound annual growth rate (CAGR) of -1.66%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The marine market size is then expected to recover and reach $46.18 billion in 2023 at a CAGR of 7.80%.

Here Is A List Of Similar Reports By The Business Research Company:
Ship And Boat Building And Repairing Global Market Report 2020-30: COVID 19 Impact and Recovery
https://www.thebusinessresearchcompany.com/report/ship-and-boat-building-and-repairing-global-market-report-2020-30-covid-19-impact-and-recovery

Inland Water Transport Global Market Report 2020-30: COVID 19 Impact and Recovery
https://www.thebusinessresearchcompany.com/report/inland-water-transport-global-market-report-2020-30-covid-19-impact-and-recovery

Autonomous Ships Market Global Report 2020-30: COVID 19 Growth and Change
https://www.thebusinessresearchcompany.com/report/autonomous-ships-market-global-report-2020-30-covid-19-growth-and-change

Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release