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I AgreeAnalysis of Marine Seats Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global marine seats market stands at US$ 1.8 billion in 2023 and is predicted to secure a revenue of US$ 2.95 billion by 2033-end, expanding at 5% CAGR over the next ten years.
Rapidly increasing spending on marine tourism and the growing popularity of marine tourism activities around the world are projected to substantially influence marine seat sales over the coming years. Supportive government initiatives to promote marine tourism and increasing investments in the shipbuilding industry are also anticipated to uplift market growth potential in the future.
Rising per capita disposable income, increasing boat ownership, the growing availability of affordable boats, growing spending on outdoor leisure activities, and soaring demand for adventure water sports around the world are other factors that could benefit shipments of boat seats throughout the forecast period.
Moreover, increasing investments in research and development of advanced boat seats such as shock-absorbing marine seats, smooth-move boat seats, etc. are also expected to favour market development over the coming years. On the contrary, stringent mandates implemented on ships to reduce their environmental impact are slated to hinder shipments of marine seats in the long run.
A detailed and comprehensive account of trends such as supply chain management, local supply, global demand, product standards, and many other trends have been exclusively mentioned in this recently revised marine seats market research study by Fact.MR, a market research and competitive intelligence provider.
Report Attributes |
Details |
Marine Seats Market Size (2023) |
US$ 1.8 Billion |
Projected Market Value (2033F) |
US$ 2.95 Billion |
Global Market Growth Rate (2023 to 2033) |
5% CAGR |
Commanding Regional Market (2022) |
Europe |
Key Companies Profiled |
|
“Expanding Marine Tourism Activity Worldwide”
In recent years, marine tourism has gained immense popularity around the world and this is expected to be a key trend that is projected to favor demand for marine seats in the future. The increasing capacity of cruise liners and the growing spending of people on cruise ship trips and other forms of marine tourism activities are also projected to uplift market growth over the next ten years.
The cruise industry took a major hit in 2020 as the worldwide COVID-19 pandemic resulted in lockdowns around the world and restricted international travel of any form. The cruise industry has been recovering for the past couple of years and is projected to expand at a good pace to attain its pre-pandemic growth levels in terms of passengers and revenue going forward.
“Delivery of New Cruise Ships”
The shipbuilding industry is in full recovery mode after the snag that it hit in 2020 due to the outbreak of coronavirus. The launch of several new cruise ships and boats is projected to create a highly lucrative market for marine seat suppliers across the forecast period.
“Surging popularity of Marine Leisure Activities to Bolster Market Growth”
Spending on marine leisure activities and interest in adventurous water sports has been increasing in recent years in the United States, which is projected to favor sales of boat seats in the country through 2033. The presence of key cruise liner companies, the high availability of different cruise voyages, and the increasing willingness to spend on marine tourism are key factors that could boost sales of marine seats in the country over the next ten years.
“High Demand for Maritime Transportation Leading Marine Seat Shipments”
Japan is heavily reliant on maritime transportation for the import and export of precious commodities. Marine transportation also plays a crucial role in the delivery of goods across 400+ islands of Japan and is a key domestic transportation pathway for Japanese people. The presence of key shipbuilding companies and a robust shipbuilding infrastructure are other factors that could potentially uplift marine seat sales over the coming years in Japan.
The launch of new cruise trips in Japan by international cruise liners has resulted in a rising number of Japanese cruise travelers over the past decade and this trend is estimated to remain relevant across the forecast period. Increasing disposable income and growing participation of Japanese in marine activities and marine adventure sports are also slated to bolster demand for ski boat seats, boat bucket seats, air ride boat seats, etc. over the next ten years.
“Presence of Robust Shipbuilding Industry and Rising High Net-worth Individuals”
Europe is known as the leading shipbuilding region in the world owing to the presence of a robust shipbuilding infrastructure, which facilitates the production, maintenance, and repair of complex marine vessels. The aforementioned factor is projected to bolster sales of boat accessories such as boat seats, boat seat cushions, boat seat upholstery, marine steering wheels, etc. in the European region throughout the forecast period.
Increasing ownership of speedboats and yachts by high net-worth individuals in European countries such as Germany and the United Kingdom is also a key prospect that is slated to boost demand for captain boat seats and custom boat seats in the future. Surging marine tourism activity in countries such as France and Italy is also anticipated to uplift market growth through 2033.
“Deck Boats to Lead Market Growth”
Based on boat type, the marine seats market is segmented into ferries, motor yachts, runabouts, deck, cuddy cabins, fishing, pontoons, and other boats.
Deck boats comprise various decks and have a much larger seating capacity as compared to most other boats. Cruise ships are the most common type of deck boats that are projected to lead shipments of marine seats in the future. The rising popularity of marine tourism, growing availability of affordable cruise trip packages, and rising consumer spending potential are some of the key factors that are anticipated to bolster sales of marine seats for deck boats in the future.
Rising consumption of seafood is also projected to boost shipments of fishing boat seats over the coming years. A growing number of millionaires and billionaires around the world are also slated to bolster demand for luxury yachts and uplift demand for custom marine seats, boat seat pedestals, boat interior upholstery, etc. going forward.
Prime marine seat manufacturers are focusing on expanding their production capacity and increasing their overall market share through efforts such as collaborations, mergers, acquisitions, and partnerships.
More insights about new developments by leading marine seat vendors and how they alter future pricing trends have been discussed in detail in this revised Fact.MR research analysis.
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The global marine seats market is valued at US$ 1.8 billion in 2023.
Marine seat sales are set to reach US$ 2.95 billion by 2033-end.
Over the next ten years, shipments of marine seats are predicted to rise at 5% CAGR.
Deck boats are estimated to account for significant deployment of marine seats in the future.
Europe is estimated to account for a dominant share of the global marine seats industry by 2033.