Stormy seas: Abated growth in consumer confidence is expected to push industry revenue downward

The Boat Building industry in Canada has exhibited a moderate level of volatility over the five years to 2019. The industry, which had been in a period of prolonged decline, experienced renewed growth during the current period. The strength of the Canadian dollar relative to the US dollar at the outset of the period stifled exports and supported the control of imports in the domestic market. Such conditions forced several operators to sell inventory at discounts and operate at a loss or exit the industry. The majority of the industry's revenue growth is attributable to strong performance early during the five-year period. Boat builders have increasingly invested in ecofriendly technology to increase their competitiveness within the industry...read more.

Industry Statistics & Market Size
Revenue
$469m
Annual Growth 14-19
3.6%
Forecast Growth 19-24
Profit
Employment
2,944
Businesses
152

Industry Threats & Opportunities

  • Boat builders have increasingly invested in ecofriendly technology to increase their competitiveness within the industry
  • The strength of the Canadian dollar hurt the industry’s trade position
  • Industry growth will be limited by rising input costs
  • Industry Report - Starting a New Business Chapter

    The Boat Building industry in Canada has moderate barriers to entry. Boat building requires highly skilled workers and capital to purchase input materials such as aluminum and resin. Workers are generally taught on the job through apprenticeships and boat building courses, producing a limited labour pool from which to draw upon as a new business. Plus, input material costs vary depending on the type of boat built. Small boats such as canoes typically cost less than $100.00 per unit, whereas luxury yachts can cost millions. Despite moderate barriers to entry, success for industry entrants is difficult given the saturated market’s high competition, from both domestic and foreign companies. Bar...purchase to read more.

    Additional Insights for the Boat Building Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Boat Building Industry are

  • Undertaking technical research and development
  • Financial structure of the company
  • Access to the latest available and most efficient technology and techniques
  • IBISWorld analysts also discuss how external factors such as Consumer Confidence Index and Leisure time in the Boat Building industry impact industry performance..

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    What's in this report

    What is the Boat Building Industry?

    This industry comprises establishments that build boats, which are defined as watercraft not built in shipyards and typically intended for personal use. This does not include establishments engaged in the Ship Building industry in Canada (IBISWorld report 33661aCA).

    Industry Products
  • Outboard motorboats, rowing boats, canoes, sculls and other
  • Inboard motorboats
  • Sailboats
  • Industry Activities
  • Dinghy
  • Motorboats building
  • Rowboats
  • Sailboat building
  • Yacht building
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer Confidence Index
  • Leisure time
  • World price of crude oil
  • US dollar exchange rate

  • Current Performance
  • Industry volatility
  • Aging customers
  • Growing trade
  • Pressure on profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Consolidation and inputs
  • Fuelling demand
  • International outlook
  • Table: Boat Building Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Boat Building Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting In Canada
  • Boat Dealership & Repair in Canada
  • Ocean & Coastal Transportation in Canada
  • Inland Water Transportation in Canada

  • Key Selling Industries
  • Engine & Turbine Manufacturing in Canada
  • Glass Product Manufacturing in Canada
  • Millwork in Canada
  • Navigational Instrument Manufacturing in Canada
  • Paint Manufacturing in Canada
  • Wind Turbine Manufacturing in Canada

  • Products & Services
  • Inboard motorboats
  • Outboard motorboats, rowing boats, canoes, sculls and other
  • Sailboats
  • Chart: Boat Building Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Export markets
  • Businesses for end use
  • Household market
  • Government
  • Chart: Major Market Segmentation for the Boat Building Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesPurchasesProfitDepreciationMarketingRentUtilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Boat Building

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Boat Building Industry

  • Industry Globalization
    Brunswick International (Canada) Limited, Pelican International Inc.,
  • Table: Brunswick International (Canada) Limited - financial performance
  • Table: Pelican International Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Boat Building Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Boat Building Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Leisure time (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Inboard Motorboats
  • Midsize boats powered by an attached engine located inside the hull.
  • Outboard Motorboats
  • Small- to medium-size boats that use a self-contained detachable engine and propulsion system attached to the transom.
  • Personal Watercraft (Pwc)
  • A recreational watercraft that the rider sits or stands on, rather than inside of (as in a boat).
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Boat Building market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Boat Building:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Boat Building market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Boat Building, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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