Sailing to Success: Marine Seats Market Set for 4.9% CAGR Growth
Chicago, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The Marine seats market size is estimated to be USD 1.6 billion in 2022 and is projected to reach USD 1.9 billion by 2027, at a CAGR of 4.9% from 2022 to 2027. Growth of this market can be attributed to the rise in seaborne trade, developments in the military sector, and increasing number of global cruise passengers.
Major players in the Marine seats market include West Marine (US), Sun Marine (Netherlands), Recaro (Netherlands), Allsalts (Canada), and Shockwave (Canada). The report covers various industry trends and new technological innovations in the Marine seats market for the period, 2018-2027.
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https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107127122*Increasing demand for fishing and marine activities*
The increasing demand in fishing activities is driving the demand for marine seats. As the demand for fish and seafood continues to grow, the number of fishing vessels is also increasing. This is driving up the demand for marine seats, as each fishing vessel requires a certain number of seats for its crew. Fishing operations are becoming more efficient and productive, which is leading to increased demand for more comfortable and supportive marine seats. Fishermen often spend long hours working on their vessels, so having comfortable seats is essential for their well-being and productivity.
Fishing can be a dangerous occupation, so marine seats that are designed to improve safety are in high demand. This includes seats with features such as shock absorption, lumbar support, and armrests. Recreational fishing is a popular pastime for people of all ages, and the demand for marine seats in recreational fishing vessels is also growing.
Recreational fishermen often want marine seats that are comfortable, stylish, and durable. Marine seat manufacturers are responding to the increasing demand in fishing activities by developing new products and features that meet the needs of fishermen. For example, some manufacturers are developing marine seats with specialized features for different types of fishing, such as sport fishing, commercial fishing, and ice fishing.
Other manufacturers are developing marine seats with features that improve safety and comfort, such as shock absorption, lumbar support, and armrests. The increasing demand in fishing activities is a major driver of growth in the marine seats market. Marine seat manufacturers are well-positioned to capitalize on this growth by developing new products and features that meet the needs of fishermen.
*By SEAT type, Passenger seats market accounts for the highest market share in 2022.*
Passenger seats are meant for onboard ship passengers. These seats are designed according to the class of travel, that is, whether passengers are traveling in economy class or VIP class. These seats can be sold as single seats or as duplets or triplets.
The demand for motorboats is increasing across the globe, thereby leading to a rise in demand for passenger seats used in motorboats. Increasing disposable income of the masses has led to increased demand for recreational motorboats across the globe. According to the National Marine Manufacturers Association (NMMA), the US is the largest exporter of motorboats in the world.
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*By SEAT type, General seats market is PROJECTED to GROW AT HIGHEST CAGR DURING FORECAST PERIOD *
Other than specialized seats used by ship captains and crew members, there are general seating arrangements or general marine seats, which are used in dining rooms, conference rooms, meeting rooms, and other areas of ships.
The general seats segment is estimated to be USD 49 million in 2022 and is projected to reach USD 65 million by 2027, at a CAGR of 4.9% during the forecast period.
*By MARINE SEAT End User, Aftermarket segment accounts for the largest share of the total market in 2022.*
The aftermarket segment of the marine seats market includes maintenance, repair, and overhaul (MRO) companies, which primarily carry out services as well as maintenance and upgrade of ships. These companies install different components and systems in existing ships during their maintenance, repair, and overhaul. The damaged components of ships such as their hardware as well as equipment or systems installed in them that include power management systems, propulsion management systems, and safety & security systems are sent to MRO companies for their servicing as well as maintenance and upgradation. MRO or aftermarket companies also carry out the replacement of damaged equipment and components of ships that are beyond repair.
The MRO companies dealing in marine seats carry out the replacement of marine-grade vinyl upholstery in ships after a gap of 5 to 6 years. The aftermarket segment is estimated to account for a larger share of the marine seats market in 2022. This segment is estimated to be USD 944 million in 2022 and is projected to reach USD 1,196 million by 2027, at a CAGR of 4.8%.
*By MARINE SEAT End User, OEM segment to grow at a higher CAGR during the forecast period*
Original Equipment Manufacturers (OEMs) install different equipment and components in ships during their manufacturing to save the time required for the installation of different equipment and components in ships post their delivery. This also eliminates the requirement for a separate workforce to install equipment and components in ships post their delivery. Ullman Dynamics, TEK Seating, and NorSap are companies that offer marine seats for installation in new ships during their manufacturing. A rise in demand for motorboats for recreational activities is leading to an increase in the number of new motorboats, thereby leading to the growth of the OEM segment of the marine seats market.
The OEM segment is estimated to account for a share of 39.9 % of the marine seats market in 2022.
*Europe region accounts for largest market share in Marine seats market*
Germany, France, Spain, Italy, the UK, and Rest of Europe are considered for market analysis of Europe. Ullman Dynamics (Sweden), Grammer AG (Germany), and Scotseat (UK) are some of the major players in this region. Cruising and watersports activities are expected to increase in Europe due to the presence of Europe’s biggest river— Rhine—in Germany. The European shipbuilding industry is involved in the construction of large naval vessels such as cruise ships, ferries, mega yachts, submarines, and dredgers (offshore vessels). Whereas navy and coastguard investments in European countries has also been significant in recent times. Europe holds a strong position in the international market. The growth of the shipbuilding industry in Europe is one of the most significant factors contributing to the increased demand for marine seats in this region.
The Major players in Marine seats market includes West Marine (US), Sun Marine (Netherlands), Recaro (Netherlands), Allsalts (Canada), and Shockwave (Canada).
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