Boat dealers experienced dramatic revenue declines during the economic downturn, forcing many of them to exit the industry. Boats are considered relatively expensive discretionary purchases. Therefore, demand fell in line with plummeting consumer sentiment and weaker disposable incomes. However, these factors reversed course during the economic recovery, bolstered by pent-up demand for new and used boats. As a result, IBISWorld expects industry revenue to increase over the five years to 2014. Furthermore, this industry will improve over the five years to 2019, responding to disposable income growth and greater participation in sporting activities. Still, the industry is expected to continue to face competition from other recreational activities.
This industry sells new and used recreational boats like canoes, sailboats and motorboats (except personal watercraft), boat parts and accessories. This industry also provides repair and maintenance services; boat repairers may be employed by a boat dealer or operate as an independent shop.
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.