Asia Pacific Boat Sails Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The Asia Pacific boat sails market is projected to grow significantly, reaching an estimated US$ 265.48 million by 2031, up from US$ 156.95 million in 2023, reflecting a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2023 to 2031.

Executive Summary and Market Overview

The Asia Pacific boat sails market encompasses several key countries, including Australia, India, China, Japan, South Korea, and other regions within Asia Pacific. This region is becoming increasingly important in the global boat sails market. The economic growth in countries like China and India is fostering a growing interest in recreational boating and sailing, which in turn is boosting the demand for boat sails. Additionally, rapid urbanization and economic development across the region are contributing to this growth.

Market Segmentation Analysis

The Asia Pacific boat sails market can be categorized based on type and application. In terms of type, the market is divided into mainsail & headsail and downwind & lightwind sails. The mainsail & headsail segment dominated the market in 2023. When segmented by application, the market is divided into cruising and racing, with the cruising segment holding the largest market share in the same year.

Market Outlook

Government investment in water tourism is anticipated to create significant opportunities for the boat sails market, promoting both short-term and long-term growth. As governments recognize the economic benefits of marine and coastal tourism, they are increasing investments in infrastructure and policy initiatives to stimulate growth in this sector. This focus on water tourism is expected to drive demand for recreational boats, including sailboats, thereby fostering a conducive environment for the expansion of the boat sails market. For instance, in January 2024, the Indian government announced plans to invest US$ 707.33 million (INR 60,000 crores) by 2047 in river cruise tourism and the development of eco-friendly vessels. Such investments are crucial for enhancing the visibility of boating activities, attracting tourists to coastal and maritime areas, and consequently increasing the demand for both boat sales and rental services.

Country Insights

The Asia Pacific boat sails market is further analyzed by country, with China leading the market share in 2023. As one of the world's largest economies, China has experienced notable growth in its boating and maritime sectors. Rising living standards have spurred demand for luxury items, particularly in the boating industry. According to the China Transport Association's Cruise Yacht Branch, the number of yachts in China is expected to rise from 38,100 in 2020 to 163,510 by 2025. The expanding middle class and increasing disposable income in China are driving the demand for recreational boats and yachts, which in turn boosts the need for boat sails. Furthermore, China's involvement in prestigious sailing events like the America's Cup has heightened interest in high-performance sails. The growth of China's cruise industry, supported by a visa-free policy for international visitors and the recovery of the global cruise market, is also a significant factor propelling market growth.

Company Profiles

Key players in the Asia Pacific boat sails 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 companies are employing various strategies such as market expansion, product innovation, and mergers and acquisitions to enhance their product offerings and increase their market presence.

In summary, the Asia Pacific boat sails market is poised for substantial growth driven by economic development, increased interest in recreational boating, and supportive government initiatives in water tourism.

Product Code: BMIRE00032006

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Asia Pacific Boat Sails Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 Raw Material Providers:
- 4.2.2 Manufacturers:
- 4.2.3 End Users:
- 4.2.4 List of Vendors in the Value Chain

5. Asia Pacific Boat Sails Market - Key Market Dynamics

5.1 Asia Pacific Boat Sails Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Popularity of Recreational Boating
- 5.2.2 Growing Marine Tourism
- 5.2.3 Increasing Disposable Incomes
5.3 Market Restraints
- 5.3.1 High Initial and Ownership Costs of Boats
5.4 Market Opportunities
- 5.4.1 Increasing Government Investments in Water Tourism
- 5.4.2 Growing Demand for Sustainable Sailing Materials
5.5 Future Trends
- 5.5.1 Shift Toward Electric Sail Boats or Hybrid Sail Boats
5.6 Impact of Drivers and Restraints:

6. Asia Pacific Boat Sails Market - Analysis

6.1 Asia Pacific Boat Sails Market Revenue (US$ Million), 2021-2031
6.2 Asia Pacific Boat Sails Market Forecast Analysis

7. Asia Pacific Boat Sails Market Analysis - by Type

7.1 Mainsail and Headsail
- 7.1.1 Overview
- 7.1.2 Mainsail and Headsail: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Downwind and Lightwind Sails
- 7.2.1 Overview
- 7.2.2 Downwind and Lightwind Sails: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. Asia Pacific Boat Sails Market Analysis - by Application

8.1 Cruising
- 8.1.1 Overview
- 8.1.2 Cruising: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Racing
- 8.2.1 Overview
- 8.2.2 Racing: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. Asia Pacific Boat Sails Market - Country Analysis

9.1 Asia Pacific
- 9.1.1 Asia Pacific Boat Sails Market - Revenue and Forecast Analysis - by Country
  - 9.1.1.1 Asia Pacific Boat Sails Market - Revenue and Forecast Analysis - by Country
  - 9.1.1.2 Australia: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.2.1 Australia: Asia Pacific Boat Sails Market Share - by Type
    - 9.1.1.2.2 Australia: Asia Pacific Boat Sails Market Share - by Application
  - 9.1.1.3 China: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.3.1 China: Asia Pacific Boat Sails Market Share - by Type
    - 9.1.1.3.2 China: Asia Pacific Boat Sails Market Share - by Application
  - 9.1.1.4 India: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.4.1 India: Asia Pacific Boat Sails Market Share - by Type
    - 9.1.1.4.2 India: Asia Pacific Boat Sails Market Share - by Application
  - 9.1.1.5 Japan: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.5.1 Japan: Asia Pacific Boat Sails Market Share - by Type
    - 9.1.1.5.2 Japan: Asia Pacific Boat Sails Market Share - by Application
  - 9.1.1.6 South Korea: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.6.1 South Korea: Asia Pacific Boat Sails Market Share - by Type
    - 9.1.1.6.2 South Korea: Asia Pacific Boat Sails Market Share - by Application
  - 9.1.1.7 Rest of Asia Pacific: Asia Pacific Boat Sails Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.7.1 Rest of Asia Pacific: Asia Pacific Boat Sails Market Share - by Type
    - 9.1.1.7.2 Rest of Asia Pacific: Asia Pacific Boat Sails Market Share - by Application

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning and Concentration

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Overview
11.4 Market Initiative
11.5 Mergers & Acquisitions

12. Company Profiles

12.1 North Sails GmbH
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Doyle Sails International Ltd
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Elvstrom Sails AS
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Ullman Sails International Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Quantum Sails Design Group LLC
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Wilfer Sails Technology (Heyuan) Co Ltd
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 OneSails International
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Hyde Sails Ltd
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Rolly Tasker Sails (Thailand) Co. Ltd.
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 CHEONG LEE SAILMAKERS LTD
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About Us