South & Central America Boat Sails Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis.
No. of Pages: 113 | Report Code: BMIRE00032008 | Category: Automotive and Transportation
No. of Pages: 113 | Report Code: BMIRE00032008 | Category: Automotive and Transportation
The South & Central America Boat Sails Market size is expected to reach US$ 103.42 million by 2031 from US$ 69.76 million in 2023. The market is estimated to record a CAGR of 5.1% from 2023 to 2031.
The South & Central America boat sails market is segmented into Brazil, Argentina, and the Rest of South & Central America. The boat sails market in South & Central America is relatively small compared to other regions. Still, it is gradually expanding, driven by an increase in recreational boating and a rise in interest in sailing as a sport and leisure activity. Moreover, as disposable income rises, people are investing in recreational activities. This has fueled recreational boating in the region, leading to increased demand for boats equipped with high-performance sails. Brazil is one of the largest recreational marine markets in the region. An extensive coastline, beautiful beaches, and an increasing number of affluent tourists make it an ideal location for recreational boating, yachting, and related water sports. The country's vast coastline, booming middle class, increasing number of boating enthusiasts, and growing tourism industry contribute to an expanding market for recreational boats and related accessories, including boat sails. Various global market players provide sails in the region. The presence of market players such as North Sails contributes to the South & Central America boat sails market.
Key segments that contributed to the derivation of the South & Central America Boat Sails Market analysis are type and application.
The growing demand for sustainable and eco-friendly sailing material is rapidly transforming the global boat sails market, driven by an increase in environmental awareness and a shift in consumer preferences toward more sustainable sailing material choices. Sails are predominantly made from new plastics, chemicals, and virgin fibers, but some latest developments may help address sustainability that leads to the development of eco-friendly sails. Key firms operating in the boat sail market are taking steps toward eco-friendly sailing materials. OneSails manufactures sails that can be broken down for recycling after use, while Elvstrom provides an EKKO line of laminate sails made entirely of recycled materials. As the global emphasis on environmental sustainability grows, boat manufacturers, sailing enthusiasts, and marine businesses are looking for more environmentally friendly materials. This shift is anticipated to create an opportunity for sail manufacturers to innovate and offer sails made of renewable, recyclable, or biodegradable materials. Sailboat owners are increasingly choosing products with a low environmental impact, both in terms of materials used and production processes. Manufacturers who offer sails made from sustainable materials or promote a lower carbon footprint in their manufacturing processes can cater to this new generation of environmentally conscious customers. Thus, the growing demand for sustainable sailing materials is expected to provide a growth opportunity for the boat sails market.
Based on country, the South & Central America Boat Sails Market comprises Brazil, Argentina, and the Rest of South & Central America. Brazil held the largest share in 2023.
Brazil is one of the largest economies in the region, which significantly contributes to the boating market growth. The country takes part in a wide range of sailing events and has a strong maritime culture. The country's coastal cities, such as Rio de Janeiro, Paulo, and Santa Catarina, contributed to the rise in sailing activities. The Brazilian government's investment in marine infrastructure development can contribute the tourism in the country. Marine tourism or cruising activities can create lucrative opportunities for growth in the country. The growing trend of using sailboats for cruising will encourage individuals and companies to invest in high-quality boats and sails for long-distance travel, leisure activities, and exploration.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 69.76 Million |
| Market Size by 2031 | US$ 103.42 Million |
| CAGR (2023 - 2031) | 5.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
|
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.; and CHEONG LEE SAILMAKERS LTD, 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 South & Central America Boat Sails Market is valued at US$ 69.76 Million in 2023, it is projected to reach US$ 103.42 Million by 2031.
As per our report South & Central America Boat Sails Market, the market size is valued at US$ 69.76 Million in 2023, projecting it to reach US$ 103.42 Million by 2031. This translates to a CAGR of approximately 5.1% during the forecast period.
The South & Central America 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 South & Central America Boat Sails Market report:
The South & Central America Boat Sails Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Boat Sails Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Boat Sails Market value chain can benefit from the information contained in a comprehensive market report.
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