Boat Steering System Market sails through the great wave of opportunities such as flourishing marine tourism

Posted by Daniel Brown on January 10th, 2023

Global Boat Steering System Market, By Propulsion System (Stern drive, Inboard, and Outboard), By Steering Type (Electro-Hydraulic Steering, Hydraulic Steering, Manual Steering, and Electric Power Steering), By Sales Channel (Aftermarket and OEM (Original Equipment Manufacturer)), By Boat Type (Large, Small, and Mid-Size) and by Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), is projected to attain a market valuation of US$ XX million in 2021 and is anticipated to grow at a CAGR of XX% during the forecast period (2021-2028), as mentioned in a new report published by Coherent Market Insights.

The hydraulically operated boat steering wheel is attached to the hull by a series of pipes and hoses. The steering pump, transmission pump, and battery power supply all go in one long flexible pipe. There is an arm on the front of the boat that rotates when you rotate the wheel. This arm also moves when you change the steer angle.

Growing popularity of water-based sports, marine tourism, and increasing number of boat ownerships in parallel to the rising disposable incomes and increased affordability is expected to propel growth of the boat steering system market throughout the forecast period.

Furthermore, the growing shipbuilding sector amidst rising freight transportation is expected to support the growth of the boat steering system market during the forecast period.