The ship and boat building industry in Belgium demonstrated significant volatility from 2013 to 2023. The data shows large fluctuations year-on-year, capturing both sharp increases and dramatic declines. By 2023, the production value stood at 21.2 million euros, showing a minor decline of 4.5% compared to the previous year. Over the last two years, the industry experienced a slight annual decrease. The five-year compounded annual growth rate (CAGR) leading up to 2023 showed moderate yet fluctuating growth averaging 6.19% per year.
Future trends continue to indicate a downward slope with a forecasted five-year CAGR of -4.56%, leading to an estimated production value of 15.84 million euros by 2028. This entails an overall decrease of 20.81% over the five-year forecast period.
It's crucial to monitor future trends such as the integration of sustainable technologies in shipbuilding, evolving regulations affecting production, and shifts in global maritime trade which could influence industry dynamics and potentially counteract the forecasted decline.
