$1.4bn
$XX.Xm
5,264
1,588
$XXX.Xm
Boat manufacturers and repairers have endured a challenging economic situation, with unstable revenue over the recent years. The COVID-19 pandemic hit manufacturers hard because of economic instability and consumer pessimism, which resulted in fewer purchases of luxuries like boats. Movement restrictions during the pandemic also hampered production. Despite volatility, exports have been prosperous thanks to the strong brand reputation of Australian manufacturers. Even so, high inflation and resulting interest rate hikes are cutting into discretionary incomes, which collapsed in 2022-23. Revenue is expected to decline at an annualised 2.7% over the past five years, with an expected 2.2% decline in 2023-24 to total $1.4 billion.
Australian boatbuilders have a solid brand reputation for reliability in international markets. The United States has been the largest export market for Australian boatbuilders, driven by solid consumer demand for luxury vessels and the popularity of marine leisure pursuits. The superior performance of Australian vessels has supported expansions in export markets like Singapore and Netherlands.
Supply chain management is critical for boat manufacturers and repairers to survive in turbulent international markets. The COVID-19 pandemic caused supply chain disruptions as manufacturers faced supply shortages, logistical disruptions and delivery delays. As most boatbuilders import raw materials, including aluminium, purchase costs have climbed. That's why boatbuilders and repairers must actively manage a resilient supply chain, from diversifying across several raw materials suppliers to fulfilling deliveries to customers.
Moving forward, international demand for boats will escalate. The global expansion of tourism and mounting popularity of outdoor activities, including water recreation and sports, will push commercial and consumers' sales, supporting higher revenue for Australian boatbuilders. Product innovation to enhance vessels' energy efficiency will create new growth opportunities for boatbuilders by attracting new consumers that are more interested in sustainability and the environment. Revenue is forecast to rise at an annualised 2.3% over the next five years, to hit $1.6 billion in 2028-29.
Industry revenue has declined at a CAGR of 2.7 % over the past five years, to reach an estimated $1.4bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Riviera Australia | 258.1 | |
Telwater | 89.2 | |
Signature Boats | 54.0 |
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Industry revenue is measured across several distinct product and services lines, including Small vessels, Medium vessels and Repair and maintenance services. Small vessels is the largest segment of the Boatbuilding and Repair Services in Australia.
Growing demand for repair and maintenance services is keeping existing boats in good condition
Industry firms mainly build or repair small- to medium-size boats and vessels with a displacement of under 50 tonnes.
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ANZSIC 2392 - Boatbuilding and Repair Services in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Luxury vessels have proved popular worldwide. High-income earners are less likely to feel the effects of inflation and cost-of-living pressures, and so have continued to purc...
Learn about an industry's products and services, markets and trends in international trade.
Repair and maintenance services help stabilise revenue. Consumers tend to save money during uncertain economic conditions, and so are more likely to maintain existing vessels...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
States with warmer climates have more boat manufacturers and repairers. Queensland has a tropical climate that is well suited to water activities, which makes it a hub for bo...
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.
Numerous small-sized boatbuilders compete with each other. Many of these manufacturers are sole proprietorships that craft high-quality vessels for niche markets.
Learn about the performance of the top companies in the industry.
Leading manufacturers aim to boost sales through new boat launches. Major companies like Riviera and Telwater frequently introduce new boats that focus on quality and providi...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Consumers with high discretionary incomes can afford boats. Boats are discretionary purchases; that's why discretionary incomes influence consumer spending on boats. Greater ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Highly skilled labourers are a must for manufacturers that build premium boats. Boatbuilding and repairing services are labour-intensive as the skill of labourers determines ...
Including values and annual change:
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Key data sources in Australia include:
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:
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The market size of the Boatbuilding and Repair Services industry in Australia is $1.4bn in 2024.
There are 1,588 businesses in the Boatbuilding and Repair Services industry in Australia, which has grown at a CAGR of 0.4 % between 2018 and 2023.
The market size of the Boatbuilding and Repair Services industry in Australia has been declining at a CAGR of 2.7 % between 2018 and 2023.
Over the next five years, the Boatbuilding and Repair Services industry in Australia is expected to grow.
The biggest companies operating in the Boatbuilding and Repair Services market in Australia are Riviera Australia, Telwater and Signature Boats
Repair and maintenance services and Small vessels are part of the Boatbuilding and Repair Services industry.
The company holding the most market share in Australia is Riviera Australia.
The level of competition is moderate and steady in the Boatbuilding and Repair Services industry in Australia.