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        Marinas Industry Profile

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        Excerpt from Marinas Industry Profile

        Companies in this industry are engaged primarily in offering docking or storage facilities for pleasure boats. Major US companies include IGY Marinas, Safe Harbor Marinas, Suntex Marinas, and Westrec Marinas. Outside the US, major marinas include Hong Kong-based Gold Coast Yacht and Country Club, Dubai Marina Yacht Club, and Mulpha Australia's Sanctuary Cove.

        Global spending on leisure boats, an indication of demand for marina services, is projected to grow from approximately $38.5 billion in 2018 to $56.3 billion by 2026, according to market intelligence firm Fior Markets. The US and Europe account for the two largest recreational boating regions in the world, according to Markets and Markets and GM Insights. The Middle East is a growing market for the marina industry, led by new major waterfront projects in Dubai.

        The US marina industry includes about 3,700 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $5 billion.

        COMPETITIVE LANDSCAPE

        Demand is driven by ownership rates for power boats and sailboats. The profitability of an individual marina depends on location and good marketing. Large companies have the resources to advertise and negotiate better prices with suppliers, builders, and maintenance firms. Small companies can compete by offering customized services or preferred locations. The US industry is highly fragmented: the top 50 companies account for 20% of industry revenue. More than 90% of US marina operators have only one location.

        Other companies ...

         
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