The number of enterprises in the UK building of pleasure and sporting boats sector is forecasted to slightly decline from 2024 to 2028, with an annual decrease of about 1% year-on-year. This trend follows a consistent reduction in the number of enterprises from 2023's figure, continuing the observed downturn over the recent years. Over the five-year forecast period, the compound annual growth rate indicates a steady negative trajectory, suggesting ongoing market contractions.
Future trends to watch include:
- Potential impacts of technological innovations on production efficiency.
- Changes in consumer preferences towards more sustainable or alternative forms of leisure.
- Regulatory changes affecting the manufacturing sector and trade policies.
- Global economic conditions and their influence on luxury good spending.
- Brexit-related trade changes potentially affecting imports and exports of materials and boats.