Regional Players Continue to Hold Bulk Shares of Marine Seats Market
The marine seats market remains highly fragmented with regional players holding the bulk shares of the market. The absence of marine seats manufacturers in areas close to ports and other boating hubs is a vital reason which has allowed the local players to expand their presence in their region. On the other hand, leading market players operating in the marine seats market only account for 15% shares. These players continue to focus on new product launches, acquisitions, and research & development to consolidate their position in the marine seats market. Some of the key developments in the marine seats market have been listed below.
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- To capitalize on the growing demand of fishing boats, Lund launched an all new model of its Rebel product line, a 16 foot boat with a notable feature of the product being a rear flip seat.
- The growing demand for recreational boats has prompted manufacturers to further create consumer-centric designs. Brunswick, a leader in the recreation boating manufacturing, announced the launch of the Brunswick Fiberglass Boat Design and Technology Center (BFBTC). The center will focus on using fiberglass for manufacturing of boats and marine seats.
- Marine seats are expected to be in demand as boats manufacturers continue to manufacture new boats integrated with technology. MIT collaborated with Senseable City Lab to develop an autonomous boat by using 3D printing. A fleet of such boats is expected to aid in reducing congestion on roads and ferry people and goods.
Some of the prominent marine seats market players profiled in the report include Leader Accessories LLC, Wise Seats, Moeller Marine Products, Attwood Marine Products, DeckMate Boat Seats, Springfield Marine Company, Todd Marine Products, Tempress, Lipper Components Inc., Taco Marine, Grammer Group, Hansen Protection, Viotap Marine Products, Oceansouth Australia, and SanHui.
Increased Permeation of Boats in Tourism and Adventure Sports Uphold Growth
The demand for boats and other marine vessels for leisure and sporting activities is on the rise. Countries are focusing their tourism campaigns toward recreational activities, which has given rise to the term “blue economy” and has emerged as the largest revenue contributor to the tourism industry. Additionally, significant growth in the marine tourism industry, coupled with growing number of boat shows & events has been attracting consumers to invest in transport via leisure marine vessels. A recent report by the National Marine Manufacturers Association revealed prolific growth in the sales of boats in the US, estimating a 10-year high sales in recreational activities.
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These factors continue to drive growth of the marine seats market. In addition, growing consumer fascination toward luxurious maritime travel is prompting cruise operators to substantially increase their passenger seating capacity. According to multiple surveys, the capacity of cruise ships has increased by 50% to cope up with growing demand for maritime travel.