Boat Console Market to Witness Comprehensive Growth by 2029
Posted: Aug 02, 2019
Boat console is a device which is used to control and steer the boat. It is also used to monitor boat functions and to control the electrical systems of the boat. Boat consoles can be of different types depending upon the type of the boat such as, sailing boat, super yachts, motorboats and cruisers. The boat console can also be customized acceding to the customer’s requirements. Generally vinyl clad material, brushed aluminum gauge panel, carbon fiber panel etc. are used to manufacture the boat console to provide a better and comfortable staring experience.
Furthermore, the design and construction of a boat console depends upon its end user preference, if the end user is personal boat then the console is used is customized in design. However, if it is used in commercial boat than the console can be of standard design offered by the company.
Boat Console Market: Dynamics:
The growing travel and tourism industry across the globe is driving the demand of new boats and yachts in marine tourism. Also, increasing recreational activity, increasing number of high net worth individuals (HNWI) projected to increase the demand for personal and luxury boats. These are expected to be the prominent factors significantly contributing in the growth of global boat console market during the forecast period. Furthermore, the boat and marine vessel manufacturer are strategically focusing on developing luxury boats and yachts which could cater to the advancing demands of the customers and it is expected to impact the boat console market positively in the upcoming years. Manufacturers of the boat are focusing on increasing the luxury features with improved work-life characteristics for a better experience.
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Additionally, governments efforts in prominent countries such as, the US and China to create interest of boating among the masses expected to create demand for commercial boats and boost the market over the forecast period. This is projected to create opportunities for further growth of boat console over the forecast period.
However, the growing environmental issues owing to the use of certain materials during boat console manufacturing is anticipated to hamper the growth of the boat console market over the forecast period.
Boat Console Market: Segmentation:
Boat console market can be segmented into boat type, sales channel, end user and region.
On the basis of boat type, global boat console market is segmented into:
- Sailing boats
- Super yachts
On the basis of sales channel, global boat console market is segmented into:
- Original Equipment Manufacturer (OEM)
On the basis of end user, global boat console market is segmented into:
- Commercial Boat
- Personal Boat
Boat Console Market: Regional Outlook:
North America is projected to be one of the prominent market for boat console owing to increasing number of marine tourism activities and high number of tourist boat and commercial boats in the region. Furthermore, the Europe boat console market is projected to show significant growth during the forecast period due to increasing investments in marine tourism in the region.
Furthermore, the Asia Pacific region is expected to exhibit high growth in the marine vessel market, which is projected to boost the market of boat console in the region. Also, significant increase in tourism in Asia Pacific countries such as China, India, etc. is projected to significantly drive the market of boat console in the region over the forecast period. Latin America region is expected to have moderate growth in the boat console market during the forecast period.
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Boat Console Market: Market Participants:
Some of the market participants in the global boat console market are:
- Precision Subsea
- Marine Electrical Products, Inc.
- Concept Boats
- Sportsman Boats
- NauticStar Boats, LLC
- Mahindra & Mahindra Ltd
- Robalo Boats, LLC
- Regulator Marine, Inc.
- Maverick Boat Group, Inc.
- White River Marine Group, LLC.
- Invincible Boat Company
- BAHAMA BOAT WORKS, LLC.
- Yamaha Motor Corporation
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