Global Boat Accessories Market by Type (Deck, Collision Bulkhead, Watrtight Transverse Bulkhead, Ship's Side, Engine, Oar), By Application (Civil Boat, Commercial Boat, warship) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The global boat accessories market is projected to reach USD 4.0 billion by 2028 from USD 2.4 billion in 2018, at a CAGR of 10.5% during the forecast period (2021-2028). The key factors driving this growth are increasing demand for leisure activities and rising disposable income globally; increased investment on infrastructure projects, and improved safety standards across the globe.
 

Boat Accessories Market Size And Share

The global boat accessories market, by type is projected to grow from USD 0.97 billion in 2018 to USD 425 million by 2028 at a CAGR of 12.0% during the forecast period (2021-2028). The demand for deck and engine are highest among all types due to their safety features such as collision bulkhead and watertight transverse bulkhead respectively; these two types account for nearly 92% share of the total revenue globally. In terms of application, the civil and commercial boats accounted for majority share with more than 87% contribution in 2018 owing primarily to increased investments on infrastructure projects across regions including Asia Pacific that has spurred an increase in leisure activities related industries such as cruise industry which contributes significantly towards the growth of overall demand for boat accessories globally.

Asia Pacific is the largest regional market in terms of revenue with more than 38% share and it is estimated to remain dominant during forecast period owing to rapid growth in infrastructure projects across regions such as India, China and Australia that has spurred an increase in leisure activities related industries such as cruise industry which contributes significantly towards the growth of overall demand for boat accessories globally. North America region follows Asia-Pacific closely by accounting for around 29% share due to increased investments on infrastructure projects across regions including Canada, Mexico, US and Caribbean islands etc., which have fueled a rise in demand for recreational boats among people living there. Europe accounted for 21%, Latin America followed closely at 16%. However, Middle East & Africa recorded lowest market share in the global market. Asia Pacific is expected to have fastest growth with CAGR of 12%, with China alone accounting for over 25% demand by 2028 end. The increased investments on infrastructure projects such as ports, waterways etc., has fueled a rise in leisure activities including cruise industry which contributes significantly towards the growth of overall demand for recreational boats among people living there.
 

On basis of type, demand for Deck accounted for nearly 67% of global boat accessories market.

• Demand from Civil Boat segment exceeded that from Commercial and Military segments with over 38%. The high share of deck type was attributed to the fact that boats are primarily used in leisure activities which require a lot of space on decks such as swimming pools, slides etc., whereas military vessels tend not to have any recreational facilities, hence their preference towards bulkhead types.

• Collision Bulkheads is expected to be fastest growing product in North America at 15%, followed by Europe (13%), Latin America (11%) and Asia Pacific (12%). On basis of application, Marine Industry holds around 74 per cent share globally while other applications account for around 26%. Military expenditure has increased in the recent years to keep up with the modernization process.

• Ship's Sides accounted for 41% share in Europe, followed by Latin America (24%), Asia Pacific (19%) and North America (13%). Collision Bulkheads was largest product type segment of Global Boat Accessories Market which exceeded that from Commercial and Military segments with over 38%. The high share of deck type was attributed to the fact that boats are primarily used in leisure activities which require a lot of space on decks such as swimming pools, slides etc., whereas military vessels tend not to have any recreational facilities, hence their preference towards bulkhead types.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Boat Accessories Market Report Segments:

The market is segmented by Type Deck, Collision Bulkhead, Watrtight Transverse Bulkhead, Ship's Side, Engine, Oar and By Application Civil Boat, Commercial Boat, warship.

Some of the companies that are profiled in this report are:

1. Thormarine
2. IMS Groups
3. Railway Specialties
4. Ocean Group
5. Remontowa Hydraulic Systems
6. Westmoor Engineering
7. Baier Marine
8. Pacific Coast Marine
9. Van Dam
10. AdvanTec Marine
11. Juniper Industries
12. MML Marine

Boat Accessories Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Boat Accessories Market

Overview of the regional outlook of the Boat Accessories Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Boat Accessories Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Boat Accessories Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Deck

                2. Collision Bulkhead

                3. Watrtight Transverse Bulkhead

                4. Ship's Side

                5. Engine

                6. Oar

                1. Civil Boat

                2. Commercial Boat

                3. warship

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Boat Accessories Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Boat Accessories Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.