The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Oct. 3, 2023 /PRNewswire/ — As per The Business Research Company’s Sailboat Global Market Report 2023, the sailboat industry is poised for steady growth as it navigates through the year 2023. According to the latest market report, the global sailboat market size is expected to reach $6.39 billion in 2023, reflecting a compound annual growth rate (CAGR) of 4.8% from its 2022 value of $6.09 billion. This growth trajectory is expected to continue, with projections indicating a market size of $7.52 billion in 2027 at a CAGR of 4.2%.
Driving Factors
Several factors are steering this growth in the global sailboat market. Rising government support, rapid urbanization, a growing population, increasing water sporting events, boat shows, the influence of social media, and the growing number of high-net-worth individuals are setting the course for market expansion.
Learn More On The Sailboat Market Report –https://www.thebusinessresearchcompany.com/report/sailboat-global-market-report
Fragmented Market Landscape
The global sailboat market presents a fragmented landscape, characterized by numerous small players. In 2022, the top ten competitors collectively accounted for 19.10% of the total market. Leading the pack was Groupe Beneteau with a 9.27% market share, followed by Ferretti S.p.A., Jeanneau, HanseYachts AG, Bavaria Yachtbau GmbH., Catalina Yachts, Fountaine Pajot, Dufour Yachts, Nautor’s Swan, and Island Packet.
AI-Driven Innovation
Innovation takes center stage in the sailboat market as companies focus on harnessing artificial intelligence (AI) to optimize sailboat performance, enhance safety, and improve decision-making. AI algorithms and machine learning techniques are being applied to various aspects of sailing, including hull and sail design, steering optimization, tactics, and weather prediction. For instance, SEA.AI introduced the OSCAR System in August 2022, integrating AI, thermal, and low-light cameras to enhance offshore cruising safety.
Regional Outlook
North America takes the lead as the largest region in the sailboat market, boasting a market worth $2.1 billion in 2022. This market accounted for 0.01% of the region’s GDP, with per capita consumption at $4.18, significantly higher than the global average. Favorable government initiatives, exemplified by the US government’s $20 million grant program to support boating infrastructure and outdoor recreation in March 2023, contribute to the North American sailboat market’s robust performance.
Request A Free Sample Of The Sailboat Market Report – https://www.thebusinessresearchcompany.com/sample.aspx?id=7217&type=smp
Market Segmentation
The global sailboat market is segmented into three key categories:
By Type: Ketch, Cutter, Junk
By Length: Up to 20 ft, 20-50 ft, Above 50 ft
By Application: Recreation, Racing, Sail Training
Among these segments, the monohull category stands out with the highest growth potential. It is projected to gain $714.7 million in global annual sales by 2027.
The global sailboat market sets sail on a promising journey, fueled by innovation, government support, and a growing global interest in water sports and recreational activities. As the sailboat market continues to evolve, stakeholders can anticipate a buoyant future with opportunities for growth and advancement in this dynamic sailboat market.
View More Similar Market Reports:
Ship And Boat Building And Repairing Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/ship-and-boat-building-and-repairing-global-market-report
Ship Repairing Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/ship-repairing-global-market-report
Boat Building Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/boat-building-global-market-report
Interested to know more about The Business Research Company?
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
The World’s Most Comprehensive Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: healthcare research reports
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Logo: https://mma.prnewswire.com/media/1751581/3970581/tbrc_logo.jpg
SOURCE The Business Research Company