The Business Research Company’s Boat Building Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 19, 2021 /EINPresswire.com/ — Advances in technology are expected to be a continued driver of market growth in the forecast period. The global boat building industry has experienced many technological advances in the last decade and this is expected to intensify. The new features to expect in boats include autonomous driving, black finishing, wellness features, modern lighting, driver override systems, comprehensive tracking, active health monitoring, and reconfigurable body panels. These innovations are expected to drive the boat building market during the forecast period.
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The global boat building market size reached a value of nearly $34.76 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015. The market is expected to grow from $34.76 billion in 2020 to $48.36 billion in 2025 at a rate of 6.8%. The boat building market is then expected to grow at a CAGR of 5.3% from 2025 and reach $62.68 billion in 2030.
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The top opportunities in the boat building market segmented by type will arise in the recreational boats segment, which will gain $10,780.1 million of global annual sales by 2025. The top opportunities in the boat building market segmented by propulsion will arise in the motor boats segment, which will gain $11,453.7 million of global annual sales by 2025. The top opportunities in the boat building market segmented by application will arise in the offline segment, which will gain $7,456.1 million of global annual sales by 2025. The boat building market size will gain the most in USA at $5,609.0 million.
TBRC’s global boat building market report is segmented by type into recreational boats, commercial boats, military boats, others, by propulsion into motor boats, sail boats, by application into private use, commercial use, military use.
North America was the largest region in the boat building market, accounting for 37.2% of the total in 2020. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the boat building market will be the Middle East and Africa.
Major players covered in the global boat building industry are Brunswick Boat Group, General Dynamics, Groupe Beneteau, Azimut-Benetti Group, Ferretti S.P.A.
Boat Building Market 2021 – By Type (Recreational Boats, Commercial Boats, Military Boats), By Propulsion (Motor Boats, Sail Boats), By Application (Private Use, Commercial Use, Military Use) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides boat building global market overview, forecast boat building global market size and growth for the whole market, boat building global market segments, and geographies, boat building global market trends, boat building global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire