Boat Speedometers Market Size, Share, Growth Analysis, 2021-2030 – Fastbreak Daily
The global market for boat speedometers has grown significantly over the past decade due to the increasing demand for cargo processing by ships, increasing tourism and increasing l adoption of the striking strap in water sports activities. However, fluctuations in the prices of raw materials and the presence of substitutes, such as log wheel and log propeller, hamper the growth of the market.
According to a new report released by Allied Market Research, titled, Global Marine Speedometer Market by Application, Type, Distribution Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030âThe global marine speedometer market was valued at $ 353.3 million in 2020 and is expected to reach $ 558.5 million by 2030, with a CAGR of 4.6% from 2021 to 2030. By 2020 , Europe led the global boat speedometer market with $ 56.5 million. % of market share.
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Boat speedometers are widely used in marine, boats, ships, sailboats and yachts. A boat speedometer is a device used to measure the speed of a boat in relation to water. The boat speedometer is used on submarines and surface boats. The boat speedometer is available in two display modes, analog display and digital display.
The increase in disposable income of the population coupled with the increase in spending on tourism activities is driving the demand for boat speedometers in sailboats and keelboats, leading to the growth of the global boat speedometers market. For example, the disposable income of Spain registered a growth of 5.9% from 2017 to 2020. The increasing trend of yachting across the world is expected to drive the growth of the speedometer market for boats. The boat speedometer is capable of working with 12V or 24V on all types of boats, which helps to maintain the control and speed of boats and sailboats, thus fueling the growth of the boat speedometer market.
Key market players
- Faria Beede Instruments, Inc
- Veethree Group
- Flir Systems Inc (Raymarine Plc)
- Nasa Marine Ltd
- Gaffrig Performance Inc Cruzpro Limited
- Autometer products
- Compx International Inc (Livorsi Marine Inc)
- NKe Marine Electronics
- SAN GIORGIO SEIN srl.
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Main benefits for stakeholders
- The report provides in-depth analysis of current and emerging trends and dynamics of the global Boat Speedometers market.
- An in-depth market analysis is performed by the global Ship Speedometer market estimates for key market segments between 2020 and 2030.
- An in-depth analysis of the global Boat Speedometers market is done by tracking key product positioning and monitoring major competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine existing opportunities.
- The forecast analysis of the global marine speedometer market from 2021 to 2030 is included in the report.
- Leading market players in the market are presented in this report and their strategies are thoroughly analyzed, which helps in understanding the competitive outlook of the global Boat Speedometers Market.
Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of âmarket research reportsâ and âbusiness intelligence solutionsâ. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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