Asia Pacific Boat Sails Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis.
No. of Pages: 124 | Report Code: BMIRE00032006 | Category: Automotive and Transportation
No. of Pages: 124 | Report Code: BMIRE00032006 | Category: Automotive and Transportation
The Asia Pacific Boat Sails Market size is expected to reach US$ 265.48 million by 2031 from US$ 156.95 million in 2023. The market is estimated to record a CAGR of 6.8% from 2023 to 2031.
The Asia Pacific boat sails market is segmented into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. The region is emerging as a key player in the global boat sails market. As the region's economies, particularly China and India, continue to grow, there is a rising interest in recreational boating and sailing activities, which is driving the demand for boat sails. Moreover, the rapid economic development and ongoing urbanization are driving economic growth within Asia Pacific.
Asia Pacific Boat Sails Market Strategic Insights
Get more information on this report Asia Pacific Boat Sails Market Segmentation Analysis
Key segments that contributed to the derivation of the Asia Pacific Boat Sails Market analysis are
The growing government investment in water tourism is expected to emerge as a significant opportunity for the global boat sails market, fueling both short-term and long-term growth prospects. As governments worldwide recognize the economic potential of marine and coastal tourism, they are increasing their investments in infrastructure, policy initiatives, and promotional efforts to stimulate growth in the sector. This heightened focus on water-based tourism is directly driving demand for recreational boats, including sailboats, thus creating a favorable environment for boat sails market expansion. In January 2024, the Government of India announced its plans to invest US$ 707.33 million (INR 60,000 crores) by 2047 in river cruise tourism and the development of green vessels. Hence, government investments in water tourism are playing a pivotal role in offering lucrative growth opportunities for the global boat sails market. These efforts help raise the profile of boating activities, increase the number of tourists visiting key coastal and maritime locations, and, consequently, spur the demand for both boat sales and boat rental services.
Based on country, the Asia Pacific boat sails market comprises Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. China held the largest share in 2023.
China, as one of the largest economies in the world, has witnessed significant growth in the boating and maritime sectors in recent years. In China, rising living standards have increased the demand for luxury consumer items, particularly those used in the boating sector. According to the China Transport Association's Cruise Yacht Branch, the total number of yachts in China will grow from 38,100 to 163,510 between 2020 and 2025. The rising middle-class population and increasing disposable income in China have led to a surge in the demand for recreational boats and yachts, fueling the need for boat sails. China's participation in the America's Cup and other international sailing competitions has driven interest in advanced, high-performance sails. China's cruise industry is experiencing consistent growth, supported by the visa-free policy for international visitors and the revival of the global cruise market. China's cruise economy is another factor driving the market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 156.95 Million |
| Market Size by 2031 | US$ 265.48 Million |
| CAGR (2023 - 2031) | 6.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia Pacific
|
| Market leaders and key company profiles |
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Some of the key players operating in the market include North Sails GmbH; Doyle Sails International Ltd; Elvstrom Sails AS; Ullman Sails International Inc; Quantum Sails Design Group LLC; Wilfer Sails Technology (Heyuan) Co Ltd; OneSails International; Hyde Sails Ltd; Rolly Tasker Sails (Thailand) Co. Ltd.; CHEONG LEE SAILMAKERS LTD, and among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Asia Pacific Boat Sails Market is valued at US$ 156.95 Million in 2023, it is projected to reach US$ 265.48 Million by 2031.
As per our report Asia Pacific Boat Sails Market, the market size is valued at US$ 156.95 Million in 2023, projecting it to reach US$ 265.48 Million by 2031. This translates to a CAGR of approximately 6.8% during the forecast period.
The Asia Pacific Boat Sails Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Boat Sails Market report:
The Asia Pacific Boat Sails Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Boat Sails Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Boat Sails Market value chain can benefit from the information contained in a comprehensive market report.
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