USD 59.07 billion
GCC Spinnaker Pole Market Size, Share, Growth Analysis, By Material(aluminum and carbon), By Boat Length(small boat, midrange boat and big boat), By Application(professional sports and cruising), By Distribution channel(online and offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR20L2046 |
Region:
Regional |
Published Date: April, 2024
Pages:
202
|Tables:
110
|Figures:
80
GCC Spinnaker Pole Market Insights
GCC Spinnaker Pole Market size was valued at USD 59.07 billion in 2022 and is poised to grow from USD 62.14 billion in 2023 to USD 93.22 billion by 2031, at a CAGR of 5.20% during the forecast period (2024-2031).
A sailboat's spinnaker is supported by a spinnaker pole, or spar. A spinnaker pole aids in the management of numerous headsails. Additionally, the product can be used in jibs and genoas. Whisker poles are a common name for lightweight spinnaker poles.
A spinnaker boom is another name for a spinnaker pole. It is used to secure the sail's corner and extend the spinnaker's foot beyond the boat's edge. Due to the rapid growth of the tourism industry, water sports, and the purchase of customized boats for personal enjoyment, the spinnaker pole market is expanding. Spinnaker poles, on the other hand, are not a product that is mass-produced in large quantities. Businesses manufacture spinnaker poles in accordance with the requirements of their clients because they are a bespoke product.
The spinnaker pole costs more to customize because of this. The spinnaker pole market's expansion may be severely hampered by this. In the spinnaker pole industry, numerous businesses are developing and introducing new products. The technological sophistication of these new products is higher than that of their previous product line.
The company uses these new products a lot because they work better and more effectively. For instance, Selden Mast AB will introduce a cruising-themed carbon mast spinnaker in December 2020.This furling spinnaker made of carbon fiber is made to fit a big headboard and full roach furling mainsail. As a result, these new products are widely used in the industry and also improve cruising boat performance.
US GCC Spinnaker Pole Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Aluminum
Fastest Growth
Carbon
Growth Rate
5.20% CAGR
GCC Spinnaker Pole Market ($ Mn)
Country Share for GCC Region (%)
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GCC Spinnaker Pole Market Segmental Analysis
The GCC Spinnaker pole market is segmented on the basis of By material, By boat length, By distribution channel, By application and By region. Whereas, By Material Is sub segmented into the aluminum and carbon. By Boat length is sub segmented into the small boat, midrange boat and big boat. By Application is sub segmented into professional sports and cruising. The Distribution channel is sub segmented into the online and offline. Based on region, the GCC Spinnaker Pole Market is segmented into Saudi Arabia, Qatar, UAE, Kuwait, Oman, and Bahrain.
GCC Spinnaker Pole Market Analysis by Material
Based on the material, In 2021, the aluminum segment held the most market share, accounting for nearly three-fifths of the GCC spinnaker pole market. It is anticipated that this position of leadership will continue for the duration of the forecast. This is because more people are interested in sailing around the world. However, due to an increase in sailing activities, the carbon segment is anticipated to exhibit the highest CAGR of 11.1% during the forecast period.
GCC Spinnaker Pole Market Analysis by Distribution Channel
On the basis of distribution channel, The online segment is expected to maintain its lead position throughout the forecast period, accounting for the largest share in 2021 and contributing nearly two-thirds of the market. This is because e-commerce websites offer huge deals and discounts. In addition, the segment is anticipated to exhibit the highest CAGR of 11.0%.
GCC Spinnaker Pole Market By Material
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GCC Spinnaker Pole Market Regional Insights
UAE was in control of the market and made more money. Rising residential demand, a highly developed cold chain and logistics sector, and government programs to build social infrastructure are some of the key drivers of the UAE market expansion. The market is expected to be driven in the coming years by rising consumer awareness of the benefits of building structure insulation. Saudi Arabia is anticipated to experience the fastest rate of regional market expansion due to the rapid expansion of the residential and commercial construction industries and the adoption of various green building standards.
GCC Spinnaker Pole Market By Region
- Largest
- Fastest
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GCC Spinnaker Pole Market Dynamics
GCC Spinnaker Pole Market Drivers
Rapidly Increasing Fuel Cost to Bolster Demand for Spinnaker Poles
- The rising cost of fossil fuels has prompted manufacturers of sailboats to invest in high-quality GCC spinnaker poles in recent years. It was made specifically to sail against the wind, going from a reaching course to a downwind one. Consumers in developing nations are being encouraged to spend money on luxury tourism by rising disposable income. Sailboat tourism activities are being promoted by recreational and traveling businesses all over the country, which may increase demand for spinnaker poles because they save money on fuel. The sale of personalized sailboats is being driven by an increasing number of high-net-worth individuals at the level. For their leisure activities, these individuals prefer to purchase premium yachts. These sailboats require a spinnaker pole, which is likely to open up a new market opportunity soon. GCC spinnaker pole sales are likely to rise as a result of these factors in the coming years.
GCC Spinnaker Pole Market Restraints
Fluctuation in Economy Slowed Down Market Growth
- Post pandemic, the market hit an all time low due to lower investment and sales. This could slow the growth of the GCC spinnaker pole market.
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GCC Spinnaker Pole Market Competitive Landscape
The GCC spinnaker shaft market is decently divided in nature, because of the presence of a few players. To stay competitive and expand their customer base in the market, major players use new product development, acquisitions, mergers, and agreements as their primary development strategy.
GCC Spinnaker Pole Market Top Players Company Profiles
- Ronstan International
- Selden Mast
- Z-Spars
- Harken, Inc.
- Profurl
- Forespar
- Wichard
- Tylaska Marine Hardware
- Antal Srl
- Schaefer Marine
- Lewmar Marine
- Sparcraft
- Hall Spars & Rigging
- Ocean Yacht Systems
- Carbonautica
- Southern Spars
- Marlow Ropes
- Navtec Rigging Solutions
- Reckmann Yacht Equipment
- Colligo Marine
GCC Spinnaker Pole Market Recent Developments
- In January 2024, the 2023-24 Global Solo Challenge witnessed an incredible display of sailing mastery by Cole Brauer (USA) as she navigated the perilous waters of Cape Horn. In the world of solo sailing, few achievements are as remarkable as this feat. Brauer's journey around the legendary cape showcased remarkable strategy, skill, and resilience, marking her as a standout competitor in the challenging sport.
- In July 2023, the sailing vessel J/133 Pintia, skippered by Gilles Fournier and Corinne Migraine, surged ahead of Sunrise III on corrected time. Meanwhile, Tom Kneen's JPK 1180 took advantage of its joker card, deploying a new six-meter carbon spinnaker pole for downwind sailing. This addition, along with some flat-cut conventional spinnakers, aims to address weaknesses in Sunrise's performance, particularly VMG downwind in light winds. Navigator Tom Cheney aboard the British boat described it as "an interesting experiment," as they compete closely with Pintia and maintain a lead over Dawn Treader.
- In December 2023, the Italian Swan 65 Translated 9, skippered by Vittorio Malingri, achieved a significant victory in the 2023-24 Ocean Globe Race. Crossing the finish line on December 12, the team secured first place in line honors, provisional IRC, and Flyer Class. The second leg of the race commenced on November 5, covering a challenging 7250-nautical mile course to Auckland, New Zealand.
GCC Spinnaker Pole Key Market Trends
- Traveling companies are promoting sailboat tourism activities and people buying personalized sailboats for enjoyment purposes are the key trends in the spinnaker pole market. As the price of fossil fuels rises, boat manufacturers are investing in high-quality spinnaker poles. It was designed to sail against the wind, from reaching to going downwind. As their disposable income rises, consumers in emerging nations like China, India, Mexico, Brazil, and South Africa are spending more on luxury tourism. Travel agencies are promoting sailboat tourism. By using a sail with a spinnaker pole, these businesses can reduce their fuel costs.The sale of various spinnaker pole products is expected to rise as a result of these factors in the coming years.
GCC Spinnaker Pole Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the aluminum segment held the most market share, accounting for nearly three-fifths of the GCC spinnaker pole market. UAE was in control of the market and made more money. Rising residential demand will bring lucrative growth opportunities for players operating in the GCC spinnaker pole market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 59.07 billion |
| Market size value in 2031 | USD 93.22 billion |
| Growth Rate | 5.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| 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 |
GCC Spinnaker Pole Market Recent Developments
|
| 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 Spinnaker Pole 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 Spinnaker Pole 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 Spinnaker Pole 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 Spinnaker Pole 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 Spinnaker Pole Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GCC Spinnaker Pole 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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