The production value of pleasure and sporting boats in Finland has shown a fluctuating but overall positive trend over the years. From 2014 to 2023, the value has increased from €249.8 million to €346.6 million, growing at a compound annual growth rate (CAGR) of approximately 1.39%. Notable peaks in growth occurred in 2015 and 2019, with year-on-year increases of 17.17% and 15.58% respectively. However, the industry experienced a decline in 2021 with an 11.61% reduction from the previous year, but it recovered slightly in subsequent years.
Looking forward, from 2024 to 2028, the production value is expected to continue its upward trend, reaching €371.1 million by 2028. The forecasted five-year CAGR is 1.09%, indicating modest but steady growth. This suggests a stable yet incremental expansion of the industry over the next few years.
Future Trends to Watch For:
- Technological advancements in boat manufacturing that could boost efficiency and production value.
- Sustainability trends and eco-friendly innovations becoming more prevalent in the sector.
- Potential impacts of economic fluctuations and global supply chain issues on production costs and values.
- Increased demand for luxury and custom-built boats among affluent consumers.
