Boat Repairing Market Report 2025

The boat repairing market size has grown strongly in recent years. It will grow from $6.59 billion in 2024 to $7.18 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to consumer preferences and expectations, insurance industry influence, skilled labor availability, environmental factors, boat design evolution.

The boat repairing market size is expected to see strong growth in the next few years. It will grow to $10.14 billion in 2029 at a compound annual growth rate (CAGR) of 9%. The growth in the forecast period can be attributed to rising demand for specialized services, environmental sustainability emphasis, material innovations, growing boating industry, insurance industry impact. Major trends in the forecast period include specialized repair services, use of advanced materials, integration of digital tools, eco-friendly repair methods, remote monitoring and diagnostics.

The growing demand for recreational boats is expected to drive the boat-building market. Recreational boating is a widely enjoyed leisure activity worldwide, with many people engaging in activities such as water skiing, fishing, and traveling. For instance, in May 2024, the Marine Retailers Association of the Americas (MRAA), a U.S.-based non-governmental organization, reported that in 2023, there were 3,844 boating accidents, resulting in 564 deaths and 2,126 injuries, along with $63 million in property damage. These figures reflect a slight decrease of 4.9% in accidents and 11.3% in fatalities compared to 2022. As a result, the increase in recreational boating is likely to enhance demand in the boat-building market.

The expanding global maritime fleet is anticipated to drive growth in the boat repairing market in the coming years. The global maritime fleet includes all types of ships and vessels - such as cargo ships, container vessels, oil tankers, fishing boats, and naval ships - that are operational or registered under various countries' flags. As the fleet increases, more vessels are in operation, resulting in greater wear and tear that requires regular maintenance, repairs, and refurbishments to ensure safety and performance. This rising demand for boat repair and maintenance services is fueled by the need to extend the operational lifespan of vessels, comply with regulatory standards, and enhance the overall efficiency and safety of the maritime fleet. For instance, in October 2022, the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, reported that in January 2022, the global fleet reached a total carrying capacity of 2.2 billion deadweight tons (dwt), representing an increase of 63 million dwt from the previous year. Thus, the expansion of the global maritime fleet is driving the growth of the boat repairing market.

Robots are increasingly utilized in various activities within the maritime industry, ranging from cleaning and maintenance to fully autonomous vessels, with the aim of reducing human risk and enhancing process efficiency. One example is the Robotic Hull Bio-Inspired Underwater Grooming Tool, known as the Hull BUG, which is a small robot that attaches to the underside of a vessel to clean its surface. According to estimates from Sea Robotics, achieving 5% fuel efficiency through regular cleanings can save approximately $15 billion annually in fuel costs and reduce greenhouse gas emissions by 1 billion tons. Robots are anticipated to provide significant environmental benefits. Thus, the advancement of robotics that is transforming maritime operations represents a key trend in the industry.

Major companies in the boat repairing market are focusing on developing innovative diagnostic solutions. Remote diagnostics for boats involve the use of technology and digital tools to assess, monitor, and diagnose a boat's condition and performance remotely. Watershed Innovations, LLC, a subsidiary of Correct Craft, introduced the Osmosis telematics platform in September 2022. Osmosis connects stakeholders in the recreational marine industry, offering boat owners personalized information and enabling remote diagnostics for streamlined service. For OEMs, Osmosis provides valuable insights from the field, facilitating product improvements, over-the-air updates, and system calibrations.

Major companies operating in the boat repairing market include Hanwha Group, HD Hyundai Heavy Industries Co. Ltd., General Dynamics Corporation, Mitsubishi Heavy Industries Ltd., Yamaha Motor Corporation, Brunswick Corporation, Samsung Heavy Industries Co. Ltd., Groupe Beneteau S.A., Malibu Boats Inc., Ferretti S.p.A., MasterCraft Boat Company Inc., West Marine Products Inc., Survitec Group Limited, MarineMax Inc., Princess Yachts International Limited, Sunseeker International Limited, The Boston Whaler Group Inc., Gulf Craft, Riviera Australia Pty. Ltd., Viking Yacht Company, Hinckley Yachts LLC, Hatteras Yachts Inc., Grady-White Boats Inc., Ancasta International Boat Sales Ltd., Regal Marine Industries Inc., Bertram Yacht, Holyhead Boatyard Ltd., Bayliner Marine Corporation, Azimut Benetti S.p.A., Sabre Yachts, Oy Nautor AB, Outer Reef Yachts Pty. Ltd., La Compagnie Du Catamaran SAS, Pursuit Boats LLC.

Asia-Pacific was the largest region in the boat repairing market in 2024. North America was the second-largest region in the global boat repairing market share. The regions covered in the boat repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boat repairing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The boat repairing market include revenues earned by entities by repairing sport fishing boats, motorboats, sailboats, pontoon boats, bay boats, runabouts, and watersport boats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Boat repair services are offered after the sale of boats to provide regular maintenance. These services address issues such as damage, wear, and corrosion, helping to extend the vessel's lifespan and improve its performance on the water.

The main types within the boat repairing market include recreational boats, commercial boats, military boats, and other types. Recreational boats are designed for leisure purposes. Various propulsion systems, such as motorboats and sailboats, are involved. The services offered encompass addressing issues such as collision damage, fire damage, submergence, groundings, and transport damage.

The boat repairing market research report is one of a series of new reports that provides boat repairing market statistics, including global market size, regional shares, competitors with a boat repairing market share, detailed boat repairing market segments, market trends and opportunities, and any further data you may need to thrive in the boat repairing industry. This boat repair market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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