Market Trends of Marine Seats Industry
This section covers the major market trends shaping the Marine Seats Market according to our research experts:
Increasing Marine Tourism Contributing Toward the Growth of the Marine Seats Market
Tourism activities around coasts may include whale watching, diving, sailing, fishing, and cruising. Coastal and marine tourism is an important sector in many countries. Both tourism and recreational activities are expected to increase in the coming years, as marine and coastal areas remain the top touristic destinations, mainly in Europe. Cruise tourism is also predicted to grow in future.
According to the UN Tourism Organization (UNWTO), international tourist arrival may reach 1.8 billion arrivals per year by 2030. The growth of tourist arrival will be faster in the developing regions, as compared to the developed regions, with Europe leading the tourist arrival with almost 780 million tourists by 2030.
Similarly, Asia-Pacific, particularly China, has huge potential for marine seats, as the country has the easy availability of raw materials and manpower. The Chinese government is trying to promote yachting as a leisure activity to be enjoyed by many, rather than a luxury commodity. In 2016, the China State Council issued a circular to further promote and expand domestic service consumption on tourism. The circular included an announcement to formulate a yachting tourism development plan.
North America and Europe is Expected to Lead the Marine Seats Market
Boats and water activities are the preferred recreational activities among the citizens of the United States and Europe. The United States holds the majority of marine boats and ship manufacturers. On the other hand, Europe has a number of routes to explore. In terms of manufacturing capabilities and exporting power, the United States is in the top three suppliers, along with the European countries, such as Germany, France, and Italy.
The participation of the government is very crucial to boost the marine industry. For instance, the US government included the recreational marine craft, part, and accessory industry in the recreational transportation priority sector of the National Export Initiative (NEI). Through this initiative, the US exporters can increase their sales overseas in these sectors and in other foreign markets.
Seat manufacturers and boat manufacturers are working together to provide the best experience to the boat owners. For instance, in 2019, KingFisher Boats and Shockwave Seats entered a partnership for the Shockwave S5 marine suspension module. KingFisher may add this as an option to its offshore and coastal series boats.
