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Boat Steering Systems - Global Market Trajectory & Analytics

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    Report

  • 372 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5139570

Global Boat Steering Systems Market to Reach $1.9 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Boat Steering Systems estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2027, growing at a CAGR of 6.8% over the analysis period 2020-2027. Outboard, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach US$1.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Inboard segment is readjusted to a revised 6.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $609.1 Million, While China is Forecast to Grow at 8.4% CAGR

The Boat Steering Systems market in the U.S. is estimated at US$609.1 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$71.6 Million by the year 2027 trailing a CAGR of 8.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$56.4 Million by the year 2027.

Sterndrive Segment to Record 5.8% CAGR

In the global Sterndrive segment, USA, Canada, Japan, China and Europe will drive the 5.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$95.2 Million in the year 2020 will reach a projected size of US$140.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 6.4% CAGR through the analysis period.

Select Competitors (Total 29 Featured) -

  • Excel Controlinkage Pvt. Ltd
  • HyDrive Engineering Pty Ltd.
  • Hypro Marine
  • Kobelt Manufacturing Co. Ltd.
  • Lecomble & Schmitt
  • Lewmar Limited
  • Northrop Grumman Sperry Marine B.V.
  • SeaStar Solutions®
  • Techno Italia Kft.
  • Twin Disc, Incorporated
  • Uflex
  • Vetus B.V.
  • ZF Friedrichshafen AG

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Boat Steering Systems - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
  • The First Vaccines Are Here! Will It Change the Existing Economic Realities? & Is it Really the Silver Bullet We Were Waiting For?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: COVID-19 Vaccines In Millions of Annual Doses For Years 2020 Through 2025
  • Recreation, Leisure, Tourism & Employment Rates, the Major Drivers of Non-Essential Boating Take a Massive Blow
  • Recreational Boats, Watercrafts & Yachts Sales Slumps Impacting All in the Value Chain
  • Unemployment Spike in 2020 Challenges Growth in Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • How Tourism & Leisure Industry Is Impacted by the Pandemic & What's the New Normal?
  • Global Tourism Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Pockets of Growth Surface, Largely in North America With COVID-19 Actually Pushing a Small Cohort of People to Adopt Surprisingly New Ways to Relax Amid the Pandemic Stress
  • Percentage of People Going to Boating Regularly in the US by Age Group: 2019
  • Boats & Boat Steering Systems: Definition, Scope & Types
  • Global % Share Breakdown of Boat Fleets in Operation by Type for the Year 2020
  • Recent Market Activity
  • Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Robust International Trade in Fisheries to Push Demand for Fishing Boats
  • Rising Seafood Consumption Brings a String of Opportunities for Commercial Open Catch Fishing Equipment Including Boats: Global Per Capita Fish Consumption (in Kg Per Person) by Region for 2020 & 2027
  • Focus on Modernizing Aging Fishing Boats & Expanding Fishing Fleets to Benefit All in the Boat Manufacturing Value Chain
  • Aging Fishing Boats Trigger Replacement Demand, Bringing in the Promise of Higher New Manufacturing Orders: Average Age of Fishing Boats & Vessels (In Years) As of the Year 2020
  • Rise of Sports Fishing as a Healthful Pastime to Drive Demand for Sports Fishing Boats in the Post COVID-19 Period
  • Expected Growth in Demand for Superyachts Post Pandemic to Benefit Boat Manufacturing Activities
  • Expected Gains in Yacht Building to Benefit OE Suppliers of Boat Steering Systems: Global Number of Superyachts 100 FT or Larger (In Units) for Years 2017, 2019, 2022 & 2024
  • Rise of Recreational Boating as a Hobby Spurs Opportunities for Growth in the Market
  • Easing of Restrictions Witness a Quick Recovery of Recreational Boating Bringing Hope & Cheer for the Boating Industry
  • Increased Indulgence in Boating Pleasure Opens New Growth Avenues for Boat Manufacturing, Parts/Components: Global Spending on Leisure Boats (In US$ Million) for Years 2020, 2023 & 2026
  • Self-Steering or Autopilot Boats Grow in Popularity
  • Fly By Wire Steering: Making the Switch from Cable to Electronic Throttle
  • Technological Advancements and Innovations Crucial to Sustain Market Growth
  • Introduction of Hybrid Propulsion System in Leisure Boats Presents Opportunities for Fully Electric Steering Systems
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Boat Steering Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Boat Steering Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Boat Steering Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Outboard by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Outboard by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Outboard by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Inboard by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Inboard by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Inboard by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Sterndrive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Sterndrive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Sterndrive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Hydraulic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Hydraulic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Hydraulic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for Electric Power by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for Electric Power by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for Electric Power by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Electro-Hydraulic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Electro-Hydraulic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Electro-Hydraulic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Manual by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Manual by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Manual by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Small by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Small by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Small by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Medium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Medium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 30: World 15-Year Perspective for Medium by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 31: World Recent Past, Current & Future Analysis for Large by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 32: World Historic Review for Large by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 33: World 15-Year Perspective for Large by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
AFRICA
  • Boat Steering Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 29

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Excel Controlinkage Pvt. Ltd
  • HyDrive Engineering Pty Ltd.
  • Hypro Marine
  • Kobelt Manufacturing Co. Ltd.
  • Lecomble & Schmitt
  • Lewmar Limited
  • Northrop Grumman Sperry Marine B.V.
  • SeaStar Solutions®
  • Techno Italia Kft.
  • Twin Disc, Incorporated
  • Uflex
  • Vetus B.V.
  • ZF Friedrichshafen AG