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The sailboat market is estimated to grow by USD 811.18 million at a compound annual growth rate (CAGR) of 2.38% between 2022 and 2027. The growth of the market depends on several factors, including the increase in recreational tourism, digital marketing and increasing use of social media, and the increase in HNWI population.
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The increase in recreational tourism is notably driving market growth, although factors such as the high total cost of ownership of sailboats may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in recreational tourism is notably driving market growth. Individual sailing enthusiasts prefer to participate in recreational boating, which has increased customers' engagement with marina and charter services. This is driving the demand for sailboats in North America. Technological innovations, such as the adoption of remote controls and digital dashboards in sailboats, will contribute to the growth of the regional market.
The US and Canada are the major markets for sailboats in North America. The US accounts for almost two-thirds of the total revenue generated in North America. Boating is a major recreational activity in the US. Factors such as economic growth, increasing consumer confidence, and technological innovations by sailboat manufacturers are driving the growth of the market in the US. Sailboat manufacturers and stakeholders host boat show across different states in the country. Manufacturers use these shows to launch their latest products. Therefore, the market for sailboats in the US is expected to grow during the forecast period.
The implementation of e-freight documentation is a key trend in the market. The adoption of e-freight documentation is increasing in the global freight shipping industry. E-freight documentation replaces the paperwork related to cargo with electronic data and messages. The Bill of Lading (BoL) is the most important document in the transportation of sea cargo. It is issued by the carrier directly or through integrated forwarding agents. It also includes information about booking, the current position of the shipment, and the status of delivery.
The implementation of e-freight provides various advantages to seaborne transportation service providers. It reduces the end-to-end transfer time by around 24 hours, eliminates manual entry errors, and meets all international and local regulations set by regulatory authorities. Therefore, the benefits of e-freight documentation are estimated to enhance future opportunities during the forecast period.
The high total cost of ownership of sailboats is challenging market growth. Most people consider owning a sailboat a luxury. The average price of sailboats has been rising since 2020. For instance, the average retail selling price of sailboats grew at a rate of around 5% in 2020. The rise in average retail selling price has a major impact on the volume sales of sailboats.
Slip rental, insurance, maintenance, cleaning, and a state boating license are some of the other major costs associated with owning a sailboat. By considering such expenses, the total cost of ownership of a sailboat is USD 60,000 on average. Therefore, affording a sailboat is not economically feasible for low- and middle-income families. In emerging economies, the market for sailboats is very niche, as these boats are expensive. Therefore, the high total cost of ownership of sailboats may hinder the growth of the market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arcona Yachts AB - The company offers sailboats such as the Arcona 435, which combines speed and comfort with a focus on performance cruising. The company offers new and used sailboats.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market share growth by the monohull segment will be significant during the forecast period. A monohull has only one hull, which is built around a heavy keel. Monohulls may also have a swing keel, a centerboard, or a centerboard that sinks into an appendage of the hull itself. Raising the keel or board allows the boat to enter shallow waters and go upwind faster.
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The monohull segment was valued at USD 3,863.08 million in 2017 and continued to grow until 2021. Monohulls have excellent sailing performance in windy conditions, which is much better than that of most catamarans. In addition, they offer ease in boating applications, as they can sail at very sharp angles and upwind situations. These advantages are expected to propel the growth of the monohull segment of the market during the forecast period.
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Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is another key region of the global market. Individual sailing enthusiasts participate in recreational boating, which has increased customer engagement with marina and charter services. This is driving the demand for sailboats in North America. Recent technological innovations, such as the adoption of remote controls and digital dashboards in sailboats, will also contribute to the growth of the market in the region. The US and Canada are the major markets for sailboats in North America. Boating is a major recreational activity in the US. The growth of the market in the country is attributed to factors such as economic growth over the last decade, increasing consumer confidence, and technological innovations by sailboat manufacturers.
The Sailboat Market responds to various factors such as disposable income levels, demographic shifts, and economic conditions, influencing purchase decisions. With a growing emphasis on environmental consciousness, there's a rising demand for environmentally sustainable sailboats with efficient designs and electric propulsion systems powered by renewable energy sources. Technological advancements have led to innovations in sailboat construction, navigation systems, and automated sail controls, aligning with stringent environmental regulations.
Market dynamics include a diverse range of sailboat models catering to different end-user segments, from professional sailors to recreational enthusiasts, offering features like stability, seaworthiness, and interior space. Innovations in materials, propulsion technology, and safety equipment further enhance the sailboat experience, attracting modern sailors to explore the seas with confidence and comfo
The market forecasting report covers market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Sailboat Market Scope |
|
Market Report Coverage |
Details |
Page number |
144 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.38% |
Market growth 2023-2027 |
USD 811.18 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
1.4 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 36% |
Key countries |
US, Canada, Australia, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arcona Yachts AB, Bavaria Yachtbau GmbH, Black Pepper Yachts, Cantiere del Pardo Spa, Catalina Yachts, Doomernik Yachts, FAR EAST YACHTS Australia, Fountaine Pajot SA, Groupe Beneteau, Hallberg Rassy Varvs AB, HanseYachts AG, KJK Sports, Marlow Hunter LLC, McConaght Boats, MCP YACHTS, Pauger Carbon Composites, QUANTBOATS AG, Sydney Yachts, WeiChai Holding Group Co. Ltd., and WILKE AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market trends report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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