USD 366.7 million
GCC Boat Speedometer Market Size, Share, Growth Analysis, By Type(Digital and analog), By Distribution channel(Online and offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR25A2289 |
Region:
Regional |
Published Date: March, 2024
Pages:
223
|Tables:
59
|Figures:
64
GCC Boat Speedometer Market Insights
GCC Boat Speedometer Market size was valued at USD 384.3 million in 2022 and is expected to rise from USD 402.75 million in 2023 to reach USD 586.033 million by the end of 2031, by rising at a CAGR of 4.80% during the forecast period (2024-2031).
A boat speedometer is a crucial tool for calculating the speed of a ship or boat in the water. Pitometer log is another name for a boat speedometer. Sailboats, ships, and yachts all use boat speedometers to show how quickly a boat is travelling through the water. When there is a change in the weather, it is crucial to assess the boat's speed in order to gauge the safety of all on board. Both surface vessels and submarines can employ boat speedometers.
The boat speedometer market is expanding as a result of the surge in demand for boat speedometers in the modern boats, ships, and marine sector in numerous nations, including India, China, Brazil, and others. Additionally, keeping sailboats and boats moving at the right pace is crucial to avoiding dangerous situations and boat and ship mishaps, thus, expected to boost market expansion for boat speedometers. The growth of the boat speedometer market is anticipated to be constrained by fluctuations in raw material prices and the accessibility of substitutes like propeller log and impeller log. On the other hand, the rise in water sports activities around the world is anticipated to open up new opportunities for the market in the near future.
GCC Boat Speedometer Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Digital
Fastest Growth
Digital
Growth Rate
4.80% CAGR
GCC Boat Speedometer Market, 2021-2028 ($ Bn)
Country Share for GCC Region- 2021 (%)
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GCC Boat Speedometer Market Segmental Analysis
The GCC Boat Speedometer market is categorized on the basis of type, distribution channel, and region. Based on type, the GCC Boat Speedometer Market is segmented into digital, and analog. In terms of distribution channel, the GCC Boat Speedometer Market is bifurcated into online and offline.
GCC Boat Speedometer Market Analysis by Type
In terms of type, the digital sector held the largest share in 2022, accounting for more than two-thirds of the overall market share, and is predicted to maintain its lead throughout the forecast period. Additionally, from 2021 to 2030, the same segment is anticipated to experience the highest CAGR during the forecast period.
GCC Boat Speedometer Market Analysis by Distribution Channel
With respect to segmentation by distribution channel, the offline sector accounted for 84% of the market share, and is anticipated that it will maintain its dominance during the forecast period. However, from 2023 to 2030, the online category is predicted to hold the fastest CAGR.
GCC Boat Speedometer Market By Type , 2021 (%)
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GCC Boat Speedometer Market Regional Insights
The growth of tourism and the expansion of marine infrastructure are predicted to create new market prospects for boat speedometers. Kuwait, Bahrain, the United Arab Emirates, Oman, and Qatar are the leading nations in the GCC boat market. The development of the marine industry in Dubai and the GCC is supported by the cluster known as Dubai Maritime City (DMC), which is focused on the maritime industry in Dubai. Additionally, it is the first maritime-specific free zone ever constructed. Yacht manufacture, ship maintenance, maritime engineering, technology service providers, office space, and other housing and recreational facilities are among the facilities. Nearly 88% of the components in the UAE/GCC are imported, making it a market that is heavily dependent on imports. Most of the important component groupings that have been identified are imported from different nations, including the US, France, Italy, Netherlands, Germany, etc.
GCC Boat Speedometer Market By Type, 2021-2028
- Largest
- Fastest
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GCC Boat Speedometer Market Dynamics
GCC Boat Speedometer Market Driver
High Disposable Incomes of People to Augment Growth
- The rise in population disposable income in a number of nations, including India, Japan, Brazil, and others, is anticipated to boost tourism, which will fuel the expansion of the boat speedometer market. Japan's disposable income, for instance, increased by 6.5% between 2019 and 2020. The boat speedometer market is expanding as a result of the rising demand for boat speedometers in leisure and boating activities.
GCC Boat Speedometer Market Restraint
Changing Prices of Raw Materials May Hamper Growth
- The market for boat speedometers is expected to be constrained by the fluctuation in raw material prices and the accessibility of substitutes like impeller log and propeller log.
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GCC Boat Speedometer Market Competitive Landscape
The nature of the GCC Boat Speedometer Market is highly competitive and somewhat fragmented due to multiple companies operating in this market. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
GCC Boat Speedometer Market Top Player's Company Profiles
- Flir Systems Inc (Raymarine Plc)
- Nasa Marine Ltd
- Autometer Products
- Compx International Inc (Livorsi Marine Inc)
- nKe Marine Electronics
- SAN GIORGIO S.E.I.N. srl.
GCC Boat Speedometer Market Recent Developments
- In December 2020, NKE Marine Electronics developed instrument systems dedicated to navigation and performance.
GCC Boat Speedometer Key Market Trends
- The demand for boat and yacht systems rises as seaborne trade expands, and this is anticipated to support the expansion of the boat speedometer market. Some of the boat speedometer products on the market that have been widely adopted in boat and yacht systems to govern the speed of keelboats and boats include GPS speedometers, tachometers, pitometers, voltmeters, and pressure gauges. The market for boat speedometers is anticipated to grow, but this growth will be constrained by variations in the price of raw materials and the availability of substitutes like propeller and impeller log. On the other hand, the increased popularity of water sports around the world is anticipated to open up new opportunities for the boat speedometer industry.
GCC Boat Speedometer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our GCC Boat Speedometer Market analysis, in terms of type, the digital segment held the largest market share owing to high advantages. And in terms of distribution channel, the offline segment dominates the market growth due to preference; however, the online segment will grow more in forecast year due to its advantages. it is increasingly likely to acquire custom sailboats for leisure purposes as their disposable income and purchasing power increase, which is a key factor in the growth of the boat speedometer business.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 384.3 million |
| Market size value in the | USD 586.033 million |
| Growth Rate | 4.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GCC Boat Speedometer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GCC Boat Speedometer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GCC Boat Speedometer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GCC Boat Speedometer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GCC Boat Speedometer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GCC Boat Speedometer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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