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Boat Dealership and Repair in the US - Industry Market Research Report

Boat Dealership and Repair in the US - Industry Market Research Report

  • September 2022
  • 48 pages
  • ID: 198893
  • Format: PDF
  • Ibisworld

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Smooth sailing: Increasing consumer confidence will likely support industry revenue growth

Abstract

Boat Dealership and Repair in the US
The Boat Dealership and Repair industry sells new and used boats, including canoes, sailboats and motorboats (except personal watercraft) and boat parts and accessories. Additionally, industry operators provide repairs and maintenance services. These mechanics may be employed by a boat dealer or operate as an independent shop. Over the five years to 2019, industry revenue has surged as a result of favorable economic landscape, which includes rising levels of per capita disposable income, positive consumer confidence and greater access to credit. Despite the modest growth in the number of boat registrations between 2014 and 2017 (latest data available), expenditure on boats has increased during the five-year period. The strengthening economy has enabled consumers to spend more on recreational activities, such as boating, thereby boosting industry revenue. As consumers increased their spending on boats and boat repair services, profit also improved. Over the five years to 2024, revenue for the Boat Dealership and Repair industry is forecast to continue increasing, albeit at a slower rate. While disposable income levels are forecast to continue increasing, and time spent on sports and leisure is expected to return to growth, consumer confidence is anticipated to decrease, leading to fewer new and used boat sales, the major driver for revenue growth.

This industry sells new and used recreational boats such as canoes, sailboats and motorboats (except personal watercraft), boat parts and accessories. This industry also provides repair and maintenance services; boat repairers may be employed by a boat dealer or operate as an independent shop.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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