What is Boat Building Market Scope?
Boat Building is also known as pleasure art and craft of boats, or it is the procedure for designing and constructing the boats and their respected systems. The construction and designing involve propulsion, safety and other mechanical, navigation systems. These boats are crafted as per required design for fun on the water surface. The building of boats can be used for many activities such as fishing, sailing, water sports game, boat racing, and campaigning among others. The growth of the tourism industry globally is one of the major factor contributing to the growth of boat building market.
The Boat Building market study is being classified by Type (Pleasure boats, Recreational boats and Other boats), by Application (Commercial, Government and Military) and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from Global will contribute to the maximum growth of Global Boat Building market throughout the predicted period.
Daewoo Shipbuilding & Marine Engineering (South Korea), Hyundai Heavy Industries (South Korea), Mitsubishi Heavy Industries (Japan), Samsung Heavy Industries (South Korea), General Dynamics (United States), China Shipbuilding Industry (China), Brunswick Corporation (United States), Royal Caribbean Cruises Ltd. (United States), China State Shipbuilding (China) and Hanjin Heavy Industries (South Korea) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Baja Marine (United States), Sumitomo Heavy Industries (Japan), Pacific Asian Enterprises (United States), Albemarle Boats (United States) and Sunseeker International Limited (United Kingdom).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Boat Building market by Type, Application and Region.
On the basis of geography, the market of Boat Building has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
On 21 Jan 2019, The Company named Polaris Industries announced the acquisition of the Larson brand of fiberglass sport and fishing boats from Pulaski, Wisconsin yacht manufacturer Marquis-Larson Boat Group. Polaris re-entered the recreational boating industry in May 2018 when it acquired Boat Holdings LLC, representing the Bennington, Godfrey, Hurricane and Rinker brands, for a reported 805 USD Million.
Influencing Market Trend
- Adoption of Recreational Boating Globally
- Rising Interest in Customized Boats Among People
Market Drivers
- Increasing Number of Boat Shows and Water Sporting Events
- Rising Disposable Income has Resulted in Increase of Travel and Tourism Activities across the Globe
Opportunities
- Rising and Spending on Recreation of Boats and Leisure Activities
- Growth of the Asian Yachting Industry
Restraints
- High Raw Material Cost Involved in Building Boats
Challenges
- Issues Related To Environmental Pollution Caused by Boating
Key Target Audience
Boat Manufacturer, Boat Sub Component Manufacturers, Boat Raw Material Suppliers, BoatTraders/Distributors, Boat Importer/Exporter, Regulatory & Government Bodies, End Users and Others
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