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Market Research Report

Marine Seats Market - Growth, Trends, and Forecast (2020 - 2025)

Published by Mordor Intelligence LLP Product code 938130
Published Content info 70 Pages
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Marine Seats Market - Growth, Trends, and Forecast (2020 - 2025)
Published: May 1, 2020 Content info: 70 Pages
Description

The global marine seats market is anticipated to register a CAGR of about 4% during the forecast period (2020 - 2025).

  • The rise in the tourism industry, increasing interest of people in recreational activities and marine tourism, are expected to fuel the demand of the marine seats in the forecast period.
  • Italy is the second-largest boat producer in the world after the United States and the first worldwide producer of superyachts. Italy is also the leading producer of boats in Europe, followed by the UK, the Netherlands, Germany, and France. The Italian industry holds the overall global leadership position in the various sectors of the nautical manufacturing chain. For instance, in 2019, Besenzoni has signed an agreement with FB Design. Both Italian companies will work cooperatively on advanced seating solutions for high-performance boats.
  • The boat rental companies are revitalizing the marine industry by offering the boats as per the requirements of the customers, with or without captain and fueled or to be fueled up to the need with additional facilities like ski and tubbing and many more. This service is being accepted by the consumers with both hands, which in turn pushing the boat rental companies to increase their fleet. This new trend will ultimately drive the marine seats market as the demand for boats will increase.

Key Market Trends

Increasing Marine Tourism Contributing the Marine Seats Market Growth

Tourism activities around coasts may include whale watching, diving, sailing, fishing, and cruising. Coastal and marine tourism is an important sector in many countries. Both tourism and recreational activities are expected to increase in the coming years as marine and coastal areas remain the top touristic destinations mainly in Europe. Cruise tourism is also predicted to grow in the near future.

According to UN Tourism Organization (UNWTO), international tourist arrival will reach 1.8 billion arrivals per year by 2030. The growth of tourist arrival will be faster in the developing regions as compared to the developed regions in which Europe will lead the tourist arrival with almost 780 million tourists by 2030.

Similarly, in Asia-Pacific and particularly China has huge potential for marine seats, As china have the easy availability of raw materials and manpower, also the Chinese government is trying to promote yachting as a leisure activity to be enjoyed by many, rather than a luxury commodity. In, 2016, the China State Council issued a circular to further promote and expand domestic service consumption on tourism. The circular included an announcement to formulate a yachting tourism development plan.

North America and Europe Is Expected to Lead the Marine Seats Market

Boats and water activities are the preferred recreational activities among the citizens of the United States and Europe. The United States holds the majority of marine boats and ship manufacturers, on the other hand, Europe have a number of routes to explore. In terms of manufacturing capabilities and exporting power the United States is in the top three suppliers and other countries are majorly European such as Germany, France, and Italy.

The participation of the government is very crucial to boost the marine industry. For instance, the U.S. Government has included recreational marine craft, part and accessory industry in the Recreational Transportation priority sector of the National Export Initiative (NEI), by this initiative U.S. exporters can increase their sales overseas in these sectors and in other foreign markets.

Seat manufacturers and boat manufacturers are working together to provide the best experience to the boat owners. For instance, in 2019, KingFisher Boats and Shockwave Seats were entered into a partnership for the Shockwave S5 marine suspension module. KingFisher will add this as an option to their offshore and coastal series boats.

Competitive Landscape

The global marine seats market is fragmented, has a number of local active players owing to less requirement of digitalization and technologically, cheap raw materials. Some of the major players in the market are Jiangsu Trasea Marine Seating Ltd, Stidd Systems Inc., and ScotSeat Group amongst others. Most of the players in the market are also active in the other seating industries such as automotive, motorsports, and heavy industry machinery.

The companies are expanding their presence by acquiring other market participants, forming alliances with boat and cruise manufacturers, introducing new technologies, tapping in new and unexplored markets. For instance,

  • Shockwave a Canadian marine seat company has an Integrated Control Environments (ICE) seating solution which is a suspension module that can hold occupants, electronics and other key components of a vessel inside a single unit. It employs triple-axis suspension, military-grade material, and patented design.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Table of Contents
Product Code: 69380

Table of Contents

1 INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Ship Type
    • 5.1.1 Yachts
    • 5.1.2 Cruise Ships
    • 5.1.3 Others
  • 5.2 By Component Type
    • 5.2.1 Pedestal
    • 5.2.2 Swivels
    • 5.2.3 Slides & Seat Mounts
    • 5.2.4 Others
  • 5.3 By Geography
    • 5.3.1 North America
      • 5.3.1.1 United States
      • 5.3.1.2 Canada
      • 5.3.1.3 Rest of North America
    • 5.3.2 Europe
      • 5.3.2.1 Germany
      • 5.3.2.2 United Kingdom
      • 5.3.2.3 France
      • 5.3.2.4 Rest of Europe
    • 5.3.3 Asia-Pacific
      • 5.3.3.1 India
      • 5.3.3.2 China
      • 5.3.3.3 Japan
      • 5.3.3.4 South Korea
      • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 Rest of the World
      • 5.3.4.1 Brazil
      • 5.3.4.2 Mexico
      • 5.3.4.3 United Arab Emirates
      • 5.3.4.4 Other Countries

6 COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 NorSap AS
    • 6.2.2 Stidd Systems, Inc.
    • 6.2.3 Shockwave seats
    • 6.2.4 Jiangsu Trasea Marine Seating Ltd
    • 6.2.5 ScotSeat Group
    • 6.2.6 Springfield Marine Company
    • 6.2.7 Grammer AG
    • 6.2.8 Ullman Dynamics
    • 6.2.9 Alu Design & Services AS
    • 6.2.10 Todd Marine

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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