Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.3 % over the past five years, to reach an estimated $13.0bn in 2024.
Trends and Insights
Many consumers purchased boats during the pandemic
- Lockdown restrictions amid the pandemic largely led to shifting leisure and entertainment consumption trends. Most companies in the hospitality sector closed or severely limited business, while many countries enacted severe travel restrictions. These trends forced consumers to choose from a limited number of activities, often prioritizing outdoor activities to maintain social distancing guidelines. As a result, private boating activities represented an outlet for many individuals seeking safe, outdoor activities. In fact, the National Marine Manufacturers Association states powerboat, sailboat and personal watercraft sales peaked in 2020, contributing to a 20.4% demand spike.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Buyers want more customization options
- Boat builders can offer a wide range of customizations based on consumer preferences. Producers will continue to bolster sales by offering packages tailored to individual consumer needs, leading to higher demand for custom-built boats. For example, boat builders can outfit advanced fishing boats with GPS, sonar systems, rod holders and other necessary items; similarly, boat builders can create luxury yachts with hot tubs, kitchens, showers and other luxury amenities to appeal to different demographics.
Biggest companies in the Boat Building in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Brunswick Corporation | 1,224.1 | 101.6 | 8.3 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Outboard motorboats, Inboard motorboats and Boat Parts and Repair. Outboard motorboats is the largest segment of the Boat Building in the US.
Trends and Insights
Outboard motorboats are the bestselling product
- An outboard motorboat is a small to medium-size boat powered by a self-contained detachable engine and propulsion system attached to the transom. This category includes runabouts, bass boats, utility boats and offshore fishing boats.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Manufacturers in this industry build boats, defined as watercraft not built in shipyards, intended for personal, commercial and government use. This industry does not include shipbuilding (IBISWorld report 33661a).
What's included in this industry?
Motorboat building Rowboat manufacturingSailboat buildingPersonal watercraft manufacturingYacht buildingDinghy manufacturingCompanies
Brunswick CorporationPurchase this report to view all 1 major companies in this industry.
Related Terms
PERSONAL WATERCRAFT (PWC)ADVANCED COMPOSITE PROCESS (ACP)INBOARD MOTORBOATSOUTBOARD MOTORBOATSTRANSOMDINGHIESIndustry Code
NAICS 336612 - Boat Building in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Rising inflation has stymied boat-building demand. Boats are a highly discretionary purchase so skyrocketing interest rates have discouraged buyers from taking out loans to p...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Outboard motorboats continue to be the most popular product. Outboard motorboats are consistently more affordable than other motorized boats and are extremely versatile acros...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Most manufacturers operate close to coastal regions. Most boat builders have operations in the Southeast, Great Lakes and West regions.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition is on the rise. Consolidation among boat builders will grow as larger producers attempt to improve their market share and expand into new, more lucrative markets.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Brunswick remains the sole major player. Brunswick has increased its market share concentration through strategic acquisitions and research and development.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Brunswick Corporation's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Brunswick Corporation, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulation focuses on safety and environmental sustainability. Regulatory policies ensure product safety and environmental friendliness. Small, personal watercraft such as ca...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases remain the largest expense. The price of materials has risen significantly through the current period, contributing to profit volatility.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Boat Building in the US industry in United States in 2024?
The market size of the Boat Building in the US industry in United States is $13.0bn in 2024.
How many businesses are there in the Boat Building in the US industry in 2024?
There are 837 businesses in the Boat Building in the US industry in United States, which has declined at a CAGR of 0.3 % between 2019 and 2024.
Has the Boat Building in the US industry in United States grown or declined over the past 5 years?
The market size of the Boat Building in the US industry in United States has been growing at a CAGR of 0.3 % between 2019 and 2024.
What is the forecast growth of the Boat Building in the US industry in United States over the next 5 years?
Over the next five years, the Boat Building in the US industry in United States is expected to grow.
What are the biggest companies in the Boat Building in the US market in United States?
The biggest company operating in the Boat Building market in United States is Brunswick Corporation
What does the Boat Building in the US in United States include?
Motorboat building and Rowboat manufacturing are part of the Boat Building in the US industry.
Which companies have the highest market share in the Boat Building in the US in United States?
The company holding the most market share in United States is Brunswick Corporation.
How competitive is the Boat Building in the US industry in United States?
The level of competition is moderate and steady in the Boat Building in the US industry in United States.
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Competitors
Complementors
View all industries in United States
Methodology
How are IBISWorld reports created?
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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