Pier pressure: Weak domestic demand conditions have led to falling enterprise numbers

The Boatbuilding and Repair Services industry has struggled to stay afloat over the past five years, with revenue expected to sink at an annualised 2.4% over the five years through 2018-19, to $1.1 billion. This includes a forecast decrease of 7.4% in the current year. Industry players manufacture a range of boats, including yachts, rowing boats, runabouts, cruisers and catamarans. While many players also provide repair services, new boat sales represent the bulk of industry revenue. Domestic demand has declined over the period, as consumers have delayed expenditure on boats, or cancelled non-essential purchases. Weak discretionary income growth has also reduced demand, which has been reflected in a downturn in the Marine Equipment Retailing industry over the past five years...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 14-19
-2.4%
Forecast Growth 19-24
Profit
Employment
3,944
Businesses
1,460

Industry Threats & Opportunities

  • Exports to countries such as New Zealand, the United States and France have risen
  • The weaker Australian dollar has provided some relief for industry players selling to global markets
  • Domestic demand for boats and other vessels is expected to continue its long-term decline
  • Industry Report - Starting a New Business Chapter

    The industry has moderate barriers to entry, which have remained steady over the past five years. Barriers to entry are generally higher if prospective entrants target the mass-produced segments. High start-up costs, capital expenditure on machinery and equipment, and acquiring other technology can restrict new firms from manufacturing boats on a large scale.Customised builders typically cater for the high-end market and generally require highly skilled staff. Entry into the built-to-order boat segment tends to be far less difficult, as the flexibility of labour and material requirements is greater, and manufacturers can vary their stock and labour supply to suit demand. Nev...purchase to read more.

    Additional Insights for the Boatbuilding and Repair Services Industry

    IBISWorld has determined the most important Key Success Factors for the Boatbuilding and Repair Services are:

  • Access to the latest available and most efficient technology and techniques
  • Production of goods currently favoured by the market
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Demand from marine equipment retailing and Real household discretionary income in the Boatbuilding and Repair Services industry impact industry performance..

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    What's in this report

    What is the Boatbuilding and Repair Services Industry?

    Industry firms primarily build or repair small- to medium-size boats and vessels with a displacement of under 50 tonnes.

    Industry Products
  • Small vessels
  • Medium vessels
  • Repair and maintenance services
  • Other vessels
  • Industry Activities
  • Boat repairing
  • Boatbuilding
  • Canoe
  • Dinghy
  • Inflatable boat
  • Jet boat building
  • Motorboat building
  • Powerboat building
  • Sailboat
  • Yacht construction
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from marine equipment retailing
  • Real household discretionary income
  • Trade-weighted index
  • World price of aluminum

  • Current Performance
  • Demand factors
  • Profitability
  • Sinking imports
  • Rising exports
  • Industry participation
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand factors
  • Profitability
  • Ageing population
  • Industry exports
  • Industry participation
  • Table: Boatbuilding and Repair Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Boatbuilding and Repair Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Marine Equipment Retailing
  • Defence
  • Fishing
  • Consumers
  • Water Passenger Transport

  • Key Selling Industries
  • Aluminium Rolling, Drawing and Extruding
  • Fabricated Wood Manufacturing
  • Natural Rubber Product Manufacturing
  • Plastic Bottle Manufacturing
  • Power Automation Products and Other Electrical Equipment Manufacturing

  • Products & Services
  • Small vessels
  • Repair and maintenance services
  • Medium vessels
  • Other vessels
  • Chart: Boatbuilding and Repair Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Wholesalers and retailers
  • Commercial and government markets
  • Export markets
  • Consumers
  • Chart: Major Market Segmentation for the Boatbuilding and Repair Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Boatbuilding and Repair Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Boatbuilding and Repair Services Industry

  • Industry Globalization
    Riviera Australia Pty Ltd, Telwater Pty Ltd,
  • Table: Riviera Australia Pty Ltd - financial performance
  • Table: Telwater Pty Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Boatbuilding and Repair Services 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 Boatbuilding and Repair Services 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)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Displacement
  • The weight of water that a ship or boat displaces when it floats.
  • Runabouts
  • Small motorboats that can carry up to eight people.
  • Yacht
  • A large, usually motor-driven craft used for pleasure cruising or a sailboat used for racing.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Boatbuilding and Repair Services 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 Boatbuilding and Repair Services:
    • 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 Boatbuilding and Repair Services 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 Boatbuilding and Repair Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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