The global boat speedometer market was valued at $353.3 million in 2020 and is expected to reach $558.5 million by 2030, registering a CAGR of 4.6% from 2021 to 2030. Boat speedometer is an important device that is used to measure speed of boats or ship in water. Boat speedometer is also known as pitometer log. Boat speedometer is being adopted in sailboats, ships, and yachts to display how fast the boat is moving on water. Boat speedometer becomes very important to measure the speed of boat during any climatic change so that safety of people inside the boat can be measured. Boat speedometer can be used on submarine and surface boats.
Surge in demand for boat speedometer in modern boats, ships, and marine industry in various countries, such as India, China, Brazil, and others, drives the growth of the global boat speedometer market. In addition, maintaining the proper speed of boats and sailboats is very important to prevent any dangerous situation and avoid accidents in boats and ships, thereby driving the growth of the global boat speedometer market.
Rise in disposable income of population in various countries, such as India, Japan, Brazil, and others, is expected to increase tourism activities, thereby driving the growth of the boat speedometer market. For instance, the disposable income of Japan grew by 6.5% from 2019 to 2020. Increase in demand for boat speedometers in recreational activities and boating activities globally drives the growth of the global boat speedometer market.
However, fluctuation in raw material prices and availability of substitutes, such as impeller log and propeller log, are anticipated to restraint the growth of the boat speedometer market. On the contrary, rise in water sports activities globally is anticipated to create growth opportunities for the global boat speedometer market.
The global boat speedometer market is segmented into application, type, distribution channel, and region. On the basis of application, the market is divided into motor boats, sailboats/yachts, and others. The motor boats segment dominated the market in 2020. On the basis of type, it is fragmented into analog and digital. The digital segment generated highest revenue in 2020. Depending on distribution channel, it is segregated into offline and online. The offline segment dominated the market in 2020.
Region-wise, the global boat speedometer market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Europe was the highest contributor to the global boat speedometer market share, and is anticipated to secure a leading position during the forecast period.
GLOBAL BOAT SPEEDOMETER MARKET SEGMENTS
Surge in demand for boat speedometer in modern boats, ships, and marine industry in various countries, such as India, China, Brazil, and others, drives the growth of the global boat speedometer market. In addition, maintaining the proper speed of boats and sailboats is very important to prevent any dangerous situation and avoid accidents in boats and ships, thereby driving the growth of the global boat speedometer market.
Rise in disposable income of population in various countries, such as India, Japan, Brazil, and others, is expected to increase tourism activities, thereby driving the growth of the boat speedometer market. For instance, the disposable income of Japan grew by 6.5% from 2019 to 2020. Increase in demand for boat speedometers in recreational activities and boating activities globally drives the growth of the global boat speedometer market.
However, fluctuation in raw material prices and availability of substitutes, such as impeller log and propeller log, are anticipated to restraint the growth of the boat speedometer market. On the contrary, rise in water sports activities globally is anticipated to create growth opportunities for the global boat speedometer market.
The global boat speedometer market is segmented into application, type, distribution channel, and region. On the basis of application, the market is divided into motor boats, sailboats/yachts, and others. The motor boats segment dominated the market in 2020. On the basis of type, it is fragmented into analog and digital. The digital segment generated highest revenue in 2020. Depending on distribution channel, it is segregated into offline and online. The offline segment dominated the market in 2020.
Region-wise, the global boat speedometer market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Europe was the highest contributor to the global boat speedometer market share, and is anticipated to secure a leading position during the forecast period.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging global boat speedometer market trends and dynamics.
- In-depth market analysis is conducted by global boat speedometer market estimations for the key market segments between 2020 and 2030.
- Extensive analysis of the global boat speedometer market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global boat speedometer market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global boat speedometer market.
GLOBAL BOAT SPEEDOMETER MARKET SEGMENTS
By APPLICATION
- Motor Boats
- Sailboats/Yachts
- Others
By TYPE
- Analog
- Digital
By DISTRIBUTION CHANNEL
- Offline
- Analog
- Digital
- Online
- Analog
- Digital
By REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- Faria Beede Instruments, Inc
- Veethree Group
- Flir Systems Inc (Raymarine Plc)
- Nasa Marine Ltd
- Gaffrig Performance Inc
- Cruzpro Limited
- Autometer Products
- Compx International Inc (Livorsi Marine Inc)
- nKe Marine Electronics
- SAN GIORGIO S.E.I.N. srl.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BOAT SPEEDOMETER MARKET, BY APPLICATION
CHAPTER 5: BOAT SPEEDOMETER MARKET, BY TYPE
CHAPTER 6: BOAT SPEEDOMETER MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: BOAT SPEEDOMETER MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Faria Beede Instruments Inc
- Veethree Group
- Flir Systems Inc (Raymarine Plc)
- Nasa Marine Ltd
- Gaffrig Performance Inc
- Cruzpro Limited
- Autometer Products
- Compx International Inc (Livorsi Marine Inc)
- nKe Marine Electronics and SAN GIORGIO S.E.I.N. srl
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 174 |
| Published | October 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 353.3 million |
| Forecasted Market Value ( USD | $ 558.5 million |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
