APAC's Growing Contribution to the Global Marine Seats Market

Posted by Sandeep Roy on August 4th, 2023

The Global Marine Seats Market is experiencing steady growth, and it is estimated to be valued at USD 1.6 billion in 2022. The market is projected to reach USD 1.9 billion by 2027, growing at a Compound Annual Growth Rate (CAGR) of 4.9% from 2022 to 2027.

Several factors contribute to the growth of this market:

Rise in Seaborne Trade: The increasing volume of seaborne trade has led to the expansion of the marine industry, which, in turn, drives the demand for marine seats in commercial vessels.

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Developments in the Military Sector: The military sector is witnessing advancements in naval equipment and vessels, leading to a higher demand for specialized marine seats in military ships.

Increasing Number of Global Cruise Passengers: The growing popularity of cruise vacations is boosting the demand for cruise ships, which requires comfortable and functional marine seats for passengers.

Market Segmentation:

The marine seats market is segmented based on components, ship types, seat types, end-users, and regions.

Components: The market includes various components like frames, foams, vinyl upholstery, armrests, and others that contribute to the comfort and safety of marine seats.

Ship Types: The market caters to both military and commercial ships, with different seating requirements for each segment.

Seat Types: Different seat types are available, such as captain seats, passenger seats, crew seats, and general seats, each designed for specific onboard roles and comfort levels.

End Users: The market serves Original Equipment Manufacturers (OEMs) and the aftermarket segment, which involves maintenance, repair, and overhaul (MRO) companies responsible for upgrading and servicing marine seats.

Regions: The market is analyzed across North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW).

Market Trends:

Increasing Demand for Fishing and Marine Activities: The fishing industry, including both recreational and commercial fishing, is witnessing significant growth, driven by rising awareness of the health benefits of fish consumption and the popularity of recreational fishing.

Growing Demand for Passenger Seats: The demand for motorboats and recreational marine activities is increasing, leading to a rise in the demand for passenger seats used in motorboats.

Aftermarket Segment Dominance: The aftermarket segment, comprising MRO companies, holds a significant share in the marine seats market as they are responsible for replacing and upgrading marine seats in existing ships.

Regional Analysis:

Europe: The Europe region dominates the marine seats market, driven by the presence of major shipbuilding industries and the popularity of cruising and water sports activities.

Key Players:

Major players in the marine seats market include West Marine (US), Sun Marine (Netherlands), Recaro (Netherlands), Allsalts (Canada), and Shockwave (Canada).

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Sandeep Roy

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Sandeep Roy
Joined: August 7th, 2019
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