Marine Seats Market's USD 1.9 Billion Projection

Posted by Sandeep Roy on October 27th, 2023

The Marine Seats Market in 2022 is estimated to be worth USD 1.6 billion and is expected to grow to USD 1.9 billion by 2027, representing a compound annual growth rate (CAGR) of 4.9% during this period. This growth can be attributed to several factors, including the increasing importance of seaborne trade, advancements in the military sector, and a rising number of global cruise passengers.

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One key driver for the marine seats market is the increasing demand for fishing and marine activities. The fishing industry has become more technologically advanced, leading to higher demand for marine boats and products, with the recreational fishing market gaining popularity. Additionally, the growing awareness of the health benefits of a fish diet has boosted the commercial fishing market, with Asia Pacific playing a crucial role in fish production and export.

The report also highlights that passenger seats, designed for ship passengers, are projected to grow at the highest CAGR during the forecast period, driven by the increasing demand for motorboats and recreational boating worldwide.

Furthermore, the aftermarket segment, which includes maintenance, repair, and overhaul (MRO) services, accounts for the largest share of the marine seats market in 2022, emphasizing the importance of servicing and upgrading existing ships.

In terms of regional dominance, Europe, with countries like Germany, France, and the UK, leads the market due to the presence of a well-established shipbuilding industry, a growing interest in cruising and watersports activities, and significant investments in the navy and coastguard sectors.

Key Market Players:

Key players in the Marine Seats Market include West Marine, Sun Marine, Recaro, Allsalts, and Shockwave, with the report covering industry trends and technological innovations from 2018 to 2027.

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