Global Marine Wind Sensor Market 2017-2021

This market research study identifies Garmin, Gill Instruments, and Renewable NRG System as the leading players in the global marine wind sensor market. A comprehensive analysis of this market is also presented by application (powerboats and yachts) and by geography (Europe, the US, and ROW).

Overview of the global marine wind sensor market

According to Technavio’s market research report, the global marine wind sensor market will grow at a steady rate and post a CAGR of close to 4% during the forecast period. The decrease in fuel prices that is motivating consumers to purchase boats, will be one of the major factors driving the growth prospects of the global marine wind sensor market throughout the estimated period. The supply-demand gap of oil has resulted in the decline in crude oil prices. This will boost the sales volume of boats and push the demand for marine wind monitors. Factors such as the growth in domestic oil production in the US and the increased production of crude oil in Russia that will further slow down the demand for oil and reduce oil prices, will also fuel the adoption of marine wind sensors during the forecast period.

The growing preference for ultrasonic wind sensors in the marine industry will be one of the key trends that will gain traction in the marine wind sensor market. A number of benefits associated with ultrasonic wind sensors including low maintenance, better response to wind gusts, use of advanced wind speed gauges, accurate measurement of the wind speed, immediate calculation of the speed, and ability to prevent the formation of ice, will boost the acceptance of ultrasonic wind sensors among various end users, which will in turn, fuel the growth of the marine wind sensor market.

Competitive landscape and key vendors

The marine wind sensor market is characterized by the presence of a limited number of well-established vendors. The growing number of powerboat sales, the rising sales of yachts, and the increasing interest in water-based recreational activities in countries such as the US, Canada, Brazil, Australia, and Europe will offer significant growth opportunities for the vendors. The marine wind sensor market is highly competitive and the vendors are increasingly focusing on making huge investments in research and developmental activities and enhancing their customer base. Factors such as technological advancements, government regulations, and the entry of new players will intensify the competitive environment in the wind speed meter market.

Key vendors in this market are -

• Garmin
• Gill Instruments
• Renewable NRG System

Other prominent vendors in the market include Biral, LAMBRECHT meteo, Thies Clima, and Vaisala.

Segmentation by application and analysis of the marine wind sensor market

• Powerboats
• Yachts

The global marine wind sensor market was dominated by the powerboats segment during 2016 and the segment will continue its dominance during the forecast period as well. Powerboats are mainly equipped with outboard engines over inboard engines since they are fuel efficient, inexpensive, and have a low maintenance cost in comparison to inboard engines. The increasing sales of powerboats equipped with outboard engines will directly influence the adoption of marine wind sensors in the wind speed meter market.

Segmentation by geography and analysis of the marine wind sensor market

• Europe
• US
• ROW

In terms of geographic regions, Europe dominated the marine wind sensor market during 2016 and is likely to retain its market dominance during the next few years as well. The increasing demand and adoption of marine wind speed instrument in countries such as Finland, France, Spain, Italy, and Germany, will be a major factor driving the growth of the wind speed meter market in Europe.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global marine wind sensor market?
• What are the key market trends impacting the growth of the global marine wind sensor market?
• What are the challenges to market growth?
• Who are the key vendors in the global marine wind sensor market?
• What are the market opportunities and threats faced by the vendors in the global marine wind sensor market?
• What are the trending factors influencing the market shares of Europe, the US, and ROW?
• What are the key outcomes of the five forces analysis of the global marine wind sensor market?

Technavio also offers customization on reports based on specific client requirement.

Technavio’s reports for the industry overlay a wide range of product markets including automotive components, automotive electronics, and automotive manufacturing. In addition to providing information on a varied range of parameters including the shift in customer behavior and several aspects driving the market’s growth, Technavio’s reports also include a detailed insight of the prominent vendors, their latest products and services, market size, and the competitive scenario.

By considering a triangulated research approach of quantitative and qualitative research methods and by covering multiple factors including the rising demand for an array of products across geographical regions, research analysts at Technavio offer insights into how to develop effective business strategies for this market space. This upcoming market research report on the global marine wind sensor market for the assessment period of 2017 to 2021 offers insights derived from the data collected from several reliable sources of information such as channel partners, key stakeholders, manufacturers, and various regulatory bodies.

This upcoming industry report on the global marine wind sensor market also considers the growth of resembling markets such as marine powerboats batteries and automotive hydromechanical variable transmission systems market, which are expected to grow at a CAGR of around 4% and close to 67%, respectively until 2021. According to our industry experts, the growth of the boating industry will result in the high sales of powerboats. Wakeboard and ski boats, personal watercraft, aluminum fishing boats, pontoon boats, and fiberglass runabouts accounted for the majority of the powerboat sales. To help businesses enhance their market share, Technavio also offers customized reports based on the specific requirements of numerous clients.

The upcoming industry research report for global marine wind sensor market also identifies the market drivers, key trends, coupled with the major challenges currently experienced by vendors in the automotive components sector. It also offers insights into automotive services and the auto accessories market.