Volatile demand conditions have significantly altered the Boat Building industry over the past decade. As a highly discretionary purchase, reduced consumer confidence and disposable income during the recession encouraged many consumers to hold off on major purchases. Despite these improved demand conditions, revenue is well below prerecessionary highs, and many operators have struggled to remain profitable. IBISWorld anticipates that continued gradual improvements in the general economy, including returning disposable income and growing consumer confidence, will strengthen revenue. Additionally, demand for fuel-efficient boats will further drive boat sales.
This industry builds boats, which are defined as watercraft not built in shipyards and are typically intended for personal use. This industry does not include ship building (IBISWorld report 33661a).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.