DUBLIN, January 19, 2022--(BUSINESS WIRE)--The "Boat Speedometer Market by Application, Type, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global boat speedometer market was valued at $353.3 million in 2020 and is expected to reach $558.5 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.
Boat speedometer is an important device that is used to measure speed of boats or ship in water. Boat speedometer is also known as pitometer log. Boat speedometer is being adopted in sailboats, ships, and yachts to display how fast the boat is moving on water. Boat speedometer becomes very important to measure the speed of boat during any climatic change so that safety of people inside the boat can be measured. Boat speedometer can be used on submarine and surface boats.
Surge in demand for boat speedometer in modern boats, ships, and marine industry in various countries, such as India, China, Brazil, and others, drives the growth of the global boat speedometer market. In addition, maintaining the proper speed of boats and sailboats is very important to prevent any dangerous situation and avoid accidents in boats and ships, thereby driving the growth of the global boat speedometer market.
Rise in disposable income of population in various countries, such as India, Japan, Brazil, and others, is expected to increase tourism activities, thereby driving the growth of the boat speedometer market. For instance, the disposable income of Japan grew by 6.5% from 2019 to 2020. Increase in demand for boat speedometers in recreational activities and boating activities globally drives the growth of the global boat speedometer market.
However, fluctuation in raw material prices and availability of substitutes, such as impeller log and propeller log, are anticipated to restraint the growth of the boat speedometer market. On the contrary, rise in water sports activities globally is anticipated to create growth opportunities for the global boat speedometer market.
The report provides an extensive analysis of the current and emerging global boat speedometer market trends and dynamics.
In-depth market analysis is conducted by global boat speedometer market estimations for the key market segments between 2020 and 2030.
Extensive analysis of the global boat speedometer market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global boat speedometer market forecast analysis from 2021 to 2030 is included in the report.
The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global boat speedometer market.
Rise in demand for cargo transformation through yachts
Increase in tourism activities
Increase in adoption of boat speedometer in watersports activities
Fluctuation in raw material prices
Presence of substitutes
Growth in water based tourism
By Distribution Channel
Rest of Europe
Rest of Asia-Pacific
Faria Beede Instruments, Inc
Flir Systems Inc (Raymarine Plc)
Nasa Marine Ltd
Gaffrig Performance Inc
Compx International Inc (Livorsi Marine Inc)
nKe Marine Electronics
SAN GIORGIO S.E.I.N. srl.
For more information about this report visit https://www.researchandmarkets.com/r/b5b6og
View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005513/en/
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