Dublin, Nov. 10, 2021 (GLOBE NEWSWIRE) — The “Sailboat Market Size, Share and Trend Analysis Report by Hull Type (Monohull, Multihull), Length (up to 20ft, 20 to 50 feet, above 50 feet), by region and segment forecast, 2021-2028” report has been added to from ResearchAndMarkets.com offer.
The global sailboat market size is expected to reach USD 7.03 billion by 2028, growing at a CAGR of 2.4% from 2021 to 2028
Increasing investment in research and development activities is one of the major drivers for the growth of the market. The companies collaborate with international engineering firms, yacht designers and technology innovation providers to develop new models.
For example, the HanseYachts group uses Catia, a design software, which allows them to map the entire production and development process, from the first design to the activation of production machines. Other companies are also adapting to changing market conditions and reacting quickly to changing customer preferences to maintain their position in the market.
The growing awareness of sustainability and the need to reduce carbon dioxide emissions has prompted suppliers and shipyards to actively invest in more sustainable solutions. For example, to offer a more environmentally friendly diversified portfolio, Rolls-Royce Power Systems invests in the research and development of various sustainable technologies.
Revenue generated from motor yacht sales represents a much smaller share of total market revenue compared to that generated from sailing yacht sales. Companies are expanding their product portfolios to include motor yachts. For example, the HanseYachts group continues to invest in expanding the product portfolio of its Sealine and Fjord brands and expanding or strengthening the regional dealer network.
Companies face intense competition in the international market. Consequently, changing economic conditions in key sales markets impact product demand despite the broad regional diversification of international dealer networks. Military conflicts in the Middle East could affect sales in Middle Eastern countries.
The United Kingdom’s departure from the European Union and continued uncertainties regarding the future economic relationship between the United Kingdom and the European Union, the loss of value of the Turkish lira and trade protectionism in the United States could adversely affect the unit sales of companies exporting boats to these countries. .
Sailboat Market Report Highlights
In terms of hull type, the monohull segment dominated the market in 2020 and is also expected to maintain its dominance over the forecast period. While sailing is popular in Western countries with longer coastlines, several sailboats for individual use for fun and playful activities during outings with friends or family. Thus increasing the popularity of one-day sailing monohull sailboats
In terms of length, the segment up to 20ft is expected to register a CAGR of 2.7% over the forecast period. The growth of the segment can be attributed to the increasing demand for small sailboats such as dinghies, beach catamarans and daysailers.
North America dominated the market in 2020. Europe is expected to grow at the highest CAGR of 2.9% during the forecast period. The growth of the regional market can be attributed to the presence of major market players and several local businesses and the growing popularity of boating activities
Market Driver Analysis
Analysis of market challenges
Analysis of market opportunities
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