Marine Seats Market expected to reach .5 billion by 2025, at a CAGR of 4.7%
Posted by Sandeep Roy on September 3rd, 2019
This report provides a deep-dive analysis of the Marine Seats Market from 2019 to 2025. It discusses the industry and technology trends currently prevailing in the market, along with the drivers, challenges, and opportunities that are influencing the market growth.
The Marine Seats Market is projected to grow from USD 1.9 billion in 2019 to USD 2.5 billion by 2025, at a CAGR of 4.7% during the forecast period. The marine seats market in North America is expected to witness substantial growth during the forecast period due to the increasing investments in the recreational boating industry and increasing demand for motor boats. Manufacturers are focused on developing technologically-advanced marine seats. For instance, Ullman Dynamics manufactures ergonomically perfect suspension seats for high speed crafts.
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The commercial marine seats segment is expected to grow at the highest CAGR during the forecast period. The commercial segment includes bulk carriers, cruise ships, passenger ferries, dry cargo vessels, tankers, gas tankers, research vessels, dredgers, fishing vessels, motor boats, and other vessels (offshore supply vessels, other offshore vessels). Suspension seating is expected to replace conventional marine seats in high speed crafts over the next few years due to their higher shock absorption capacity and greater levels of control. Demand for highly efficient marine seats, which consume less energy, is fueling the growth of the marine seats market.
The aftermarket segment is estimated to account for a larger share of the marine seats market in 2019. Early wear and tear of marine seats and marine upholstery in a wide range of vessels, such as military and commercial vessels, is expected to drive the aftermarket for marine seats.
In terms of geographic coverage, the marine seats market has been segmented into four regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of The World, which includes the Middle East and Latin America. North America is estimated to account for the largest share of the marine seats market in 2019. Recreational boating, especially in countries such as the US, the UK, Italy, and Japan, has led to an increased demand for marine seats.
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The trend of suspension systems in marine seating across numerous high-speed crafts in tandem with the increasing investments for it and the advancements in marine upholstery are expected to open opportunities for the market. Companies are anticipated to tap into these opportunities to increase their presence in the marine seats industry during the forecast period.
Key Market Players
The key players in the marine seats market are West Marine (US), Norsap (Norway), TRESEA (China), Scott Seats (Scotland), and STIDD Systems (US).
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About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 304
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