Market Research Report
Sailboat Market Size, Share & Trends Analysis Report By Hull Type (Monohull, Multi-hull), Length (Up to 20 ft., 20-50 ft., Above 50 ft.), By Region, And Segment Forecasts, 2021 - 2028
|Sailboat Market Size, Share & Trends Analysis Report By Hull Type (Monohull, Multi-hull), Length (Up to 20 ft., 20-50 ft., Above 50 ft.), By Region, And Segment Forecasts, 2021 - 2028|
Published: October 22, 2021
Grand View Research, Inc.
Content info: 100 Pages
Delivery time: 2-10 business days
The global sailboat market size is expected to reach USD 7.03 billion by 2028, expanding at a CAGR of 2.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. Increased investments in research and development activities is one of the major drivers for the market growth. Companies are collaborating with international engineering firms, yacht designers, and technological innovation providers to develop new models. For instance, the HanseYachts Group uses Catia-a design software-which enables it to map the entire production and development process from the first design to the activation of production machines. Other companies are also adapting to changing market conditions and responding quickly to changing customer preferences to maintain their positions in the market.
The rising awareness about sustainability and the need to reduce carbon dioxide emissions have made suppliers and shipyards actively invest in more sustainable solutions. For instance, to offer a diverse portfolio that is more environmentally friendly, Rolls-Royce Power Systems is investing in the research and development of various sustainable technologies. Revenues generated on the sales of motor yachts account for a much smaller portion of the total revenue of the market compared to those generated on the sales of sailing yachts. Companies are expanding their product portfolios to include motor yachts. For instance, the HanseYachts Group continues to invest in expanding the product portfolio of its Sealine and Fjord brands and regionally expanding or reinforcing the dealer network.
Companies face intense competition in the international market. Consequently, changing economic conditions in key sales markets impact the demand for products despite the broad regional diversification of international dealer networks. The military conflicts in the Middle East could affect sales in Middle Eastern countries. The U.K.'s departure from the European Union and the continuing uncertainties regarding the future economic relations between the U.K and the European Union, loss in value of the Turkish lira, and trade protectionism in the U.S. could negatively affect unit sales for companies exporting boats in these countries.