$589.2m
$XX.Xm
3,667
353
$XXX.Xm
Canadian boat builders manufacture various watercraft for personal, commercial and government use. These products are highly discretionary purchases, so boat builders benefit from growing consumer confidence, disposable income and spending. The pandemic fostered strong boat sales as rising household incomes and wealth alongside affordable borrowing conditions drove demand; similarly, lockdown restrictions encouraged individuals to find socially-distanced recreational activities, leading to heightened demand for boating. Overall, revenue has climbed at an expected CAGR of 0.2% to $589.2 million through the current period, including a 6.0% jump in 2024, where profit reached 5.8% of revenue.
Industry revenue has grown at a CAGR of 0.2 % over the past five years, to reach an estimated $589.2m in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Brunswick International (Canada) Limited | 132.3 | 17.9 | 13.5 | |
Pelican International Inc. | 21.8 | N/A | N/A | |
Neptunus Yachts International Inc. | 17.0 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Outboard motorboats, rowing boats, canoes, sculls and other, Inboard motorboats and Sailboats. Outboard motorboats, rowing boats, canoes, sculls and other is the largest segment of the Boat Building in Canada.
Inboard motorboats remain the most popular option
This industry comprises enterprises in Canada that build boats, defined as watercraft not built in shipyards and intended for personal or commercial use. Canadian companies also manufacture various boat parts.
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NAICS 336612 - Boat Building in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Rising inflation has stymied boat-building demand. As a highly discretionary purchase, skyrocketing interest rates have discouraged buyers from taking out loans to purchase b...
Learn about an industry's products and services, markets and trends in international trade.
Most consumers purchase smaller outboard motorboats and non-powered boats. These products are smaller, less expensive and easier to produce.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Boat builders operate in populated areas near bodies of water. Proximity to key markets is critical for easy boat deployment.
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.
Boat builders primarily compete on price. Generic manufacturers struggle to compete with low-cost imports but luxury boat manufacturers have more leeway in custom-built segme...
Learn about the performance of the top companies in the industry.
Most companies specialize in custom boats. Smaller boat builders often operate a single facility and struggled to match foreign manufacturers with greater economies of scale.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Boat builders must adhere to a wide range of environmental and safety standards. These regulations have encouraged Canadian producers to make more fuel-efficient products.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases remain the largest expense. The price of materials has risen significantly through the current period, contributing to profit volatility.
Including values and annual change:
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Key data sources in Canada include:
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These sources include:
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The market size of the Boat Building industry in Canada is $589.2m in 2024.
There are 353 businesses in the Boat Building industry in Canada, which has declined at a CAGR of 0.4 % between 2019 and 2024.
The market size of the Boat Building industry in Canada has been growing at a CAGR of 0.2 % between 2019 and 2024.
Over the next five years, the Boat Building industry in Canada is expected to grow.
The biggest companies operating in the Boat Building market in Canada are Brunswick International (Canada) Limited, Pelican International Inc. and Neptunus Yachts International Inc.
Inflatable manufacturing and Motorboat building are part of the Boat Building industry.
The company holding the most market share in Canada is Brunswick International (Canada) Limited.
The level of competition is moderate and steady in the Boat Building industry in Canada.