DUBLIN, July 26, 2022 (GLOBE NEWSWIRE) — Added the Boat Repairing Global Market Report 2022 ResearchAndMarkets.com Offer.
This report provides strategists, marketers and executives with the crucial information they need to assess the global boat repair market as it emerges from the COVID-19 shutdown.
The global boat repair market is expected to grow from US$4.96 billion in 2021 to US$5.56 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The market is expected to grow to $8.42 billion by 2026 at a compound annual growth rate (CAGR) of 10.9%.
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Major players in the boat repair market are Brunswick, Riviera, Holyhead Boatyard, Ancasta International Boat Sales, Survitec Survival Craft, Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, Mitsubishi Heavy Industries, Samsung Heavy Industries and General Dynamics.
The boat repair market consists of the sale of boat repair and related services by companies (organizations, sole traders and partnerships) operating shipyards or shipyards. Only goods and services traded between businesses or sold to end consumers are included.
The main types in the boat repair market are recreational boats, commercial boats, military boats and other types. Recreational boats refer to the boats used for recreational purposes. The various drives include motor boats, sailing boats. These use services such as collision damage, fire damage, flooding, grounding and transport damage.
Asia Pacific was the largest region in boat repair market in 2021. North America was the second largest region in the boat repair market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
Increasing demand for recreational boats is expected to boost demand for the boat building market. Recreational boating is a popular pastime around the world. Many people participate in boating activities such as water skiing, fishing and travel.
For example, in 2021, the National Marine Manufacturers Association (NMMA), which represents North American manufacturers of recreational boats, engines and marine accessories, reports that retail sales of new power boats in the US increased about 12 percent last year compared to 2019. More than 310,000 new power boats were sold in 2020, leveling the recreational boating industry. The rise in recreational boating is likely to contribute to demand in the boat repair market.
The maritime industry, which includes shipping, boating and sailing activities, is one of the industries that has been hit hard due to the spread of the COVID-19 disease. This epidemic has halted boat repair and related activities due to the closure of facilities. All commercial and maritime leisure activities as well as private pleasure boats have also been suspended to curb the spread of the coronavirus.
According to Willis Towers Watson findings, over 3 billion citizens were on lockdown, leading to a slowdown in economic activity and a -3.0% contraction in the global economy. The delay in restoring supply chain networks and logistics capacity will impact the boat building and repair industry.
Robots are used for many activities in the maritime industry, from cleaning and maintenance to full-fledged driverless boats, to reduce risk to humans and increase the efficiency of the process. For example, the Robotic Hull Bio-Inspired Underwater Grooming Tool, also known as the Hull BUG, is a small robot that attaches to the underside of a ship to clean the surface.
Sea Robotics estimates that 5% fuel efficiency through regular cleaning saves approximately $15 billion per year in fuel costs and reduces 1 billion tons of greenhouse gas emissions. Robots are expected to provide green and eco-friendly benefits. Therefore, advanced robotics affecting maritime operations is a key trend in the maritime industry.
Main topics covered:
2. Characteristics of the boat repair market
3. Boat Repair Market Trends and Strategies
4. Impact of COVID-19 on Boat Repair
5. Boat Repair Market Size and Growth
5.1. Global Historical Boat Repair Market, 2016-2021, Billion US$
5.1.1. drivers of the market
5.1.2. restrictions in the market
5.2. Global Boat Repair Forecast Market, 2021-2026F, 2031F, US$ Billion
5.2.1. drivers of the market
5.2.2. restrictions in the market
6. Boat Repair Market Segmentation
6.1. Global Boat Repair Market, Segmentation by Type, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, US$ Billion
6.2. Global Boat Repair Market, Segmentation by Propulsion, History and Forecast, 2016-2021, 2021-2026F, 2031F, US$ Billion
6.3. Global Boat Repair Market, Segmentation by Services, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
7. Regional and country analysis of Boat Repair Market
7.1. Global Boat Repair Market Split by Region, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
7.2. Global Boat Repair Market Split by Country, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
For more information about this report, visit https://www.researchandmarkets.com/r/z89kvl
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