At sea: Challenging conditions have weighed on demand and industry revenue performance

The industry endured challenging conditions over the past five years. Freight traffic levels remained subdued, which decreased demand and caused revenue to fall. Passenger transport operators also encountered tough operating conditions due to intense competition from alternative modes of transport, which lowered demand for repair and maintenance services. In addition, demand from the military was bleak due to pressure on public spending. Nevertheless, improvements in disposable income and falling unemployment during the first two years increased demand from households, because more households could afford leisure boats. In addition, demand for marine coating services grew, which supported revenue. Revenue is expected to decline at a compound annual rate of 1.9%...read more.

Industry Statistics & Market Size
Revenue
£684.7m
Annual Growth 14-19
-1.9%
Forecast Growth 19-24
Profit
Employment
7,099
Businesses
567

Industry Threats & Opportunities

  • Weak demand for ferry services is expected to weigh on performance in the current year
  • The number of industry operators is expected to increase over the period
  • Industry demand is likely to be supported by the introduction of annual reports on ship emissions
  • Industry Report - Starting a New Business Chapter

    Barriers to entry are moderate for larger players entering the industry due to competition for desirable locations, large set-up costs and the need for well-developed customer relationships. Competition for land in desirable locations is high. There are few locations feasible for market entrants, and without a location that is close to marinas or docks success is unlikely. Dry-dock services must be carried out near to the water, as the transportation of boats and ships can be extremely difficult and expensive. All other repair and maintenance work is completed with the boat still in the water, which means that a good location is necessary for efficiency. The high competition for this land increases the price and ultimately the new operation set-up costs...purchase to read more.

    Additional Insights for the Boat Repair & Maintenance Industry

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

  • Access to highly skilled workforce
  • Economies of scale
  • Access to the necessary amount of land/type of property
  • IBISWorld analysts also discuss how external factors such as Demand from sea and coastal freight water transport and Demand from sea and coastal passenger water transport in the Boat Repair & Maintenance industry impact industry performance..

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    What's in this report

    What is the Boat Repair & Maintenance Industry?

    This industry provides ship and boat repair and maintenance services including dry-dock services or in-water repair, spare part supplying and cleaning. Engine overhaul and the complete refitting of ships and boats are excluded from the industry.

    Industry Products
  • Dry-dock services
  • Repair and maintenance services
  • Cleaning services
  • New and replacement parts retailing
  • Industry Activities
  • Dry-dock services
  • Ship and boat repair
  • Supplying new and replacement parts
  • Ship and boat maintenance and cleaning
  • 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 sea and coastal freight water transport
  • Demand from sea and coastal passenger water transport
  • Government spending on defence
  • Real household disposable income
  • World price of steel

  • Current Performance
  • Commercial

    demand trends

  • Other demand conditions
  • Regulatory changes
  • Margins sink
  • Chart: Revenue Growth

  • Industry Outlook
  • Mixed conditions
  • Regulatory developments
  • Potential turbulence
  • Table: Boat Repair & Maintenance Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Boat Repair & Maintenance Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Sea & Coastal Passenger Water Transport
  • Sea & Coastal Freight Water Transport
  • Defence Activities
  • Consumers

  • Key Selling Industries
  • Iron & Steel Manufacturing
  • Lifting & Handling Equipment Manufacturing
  • Tool Manufacturing

  • Products & Services
  • Repair and maintenance services
  • Dry-dock services
  • New and replacement parts retailing
  • Cleaning services
  • Chart: Boat Repair & Maintenance Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Commercial customers
  • Military
  • Commercial fishermen
  • Households
  • Other
  • Chart: Major Market Segmentation for the Boat Repair & Maintenance Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciationRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Boat Repair & Maintenance

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

  • Industry Globalization
    BAE Systems plc, Babcock International Group plc,
  • Table: BAE Systems plc - financial performance
  • Table: Babcock International Group plc - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Boat Repair & Maintenance 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 Repair & Maintenance Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Dry-Docking
  • The removal of boats from the water for inspection, cleaning, repair or overhaul.
  • Pleasure Boat
  • A boat used for personal and family recreation.
  • Super Yacht
  • A very expensive, privately owned, professionally crewed sailing or motor yacht.
  • What Our Customers Say

    Why buy this report?

    The Boat Repair & Maintenance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    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 Repair & Maintenance:
    • 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 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 Repair & Maintenance 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 Repair & Maintenance, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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