The global watercraft accessories market is projected to grow from US$ 6,901.1 Mn in 2021 to US$ 12,382.9 Mn by
2032, with sales growth at a healthy CAGR of 6% throughout the forecast
period. Rising demand for watercraft accessories from diverse end use
sectors including military & defense, amusement parks, coastal
tourism & shipping company, and cargo logistics is a key factor
driving growth in the global market.
Watercraft accessories consist of products such as life vests, tow ropes, boat dock line, boat fenders, etc., widely used by professionals and hobbyists for fishing and water sport
activities. These accessories play a key role in improving the safety of
watercraft passengers during water transportation and other
recreational activities.
As recreational boating and water sports become more popular, demand for watercraft accessories is projected to
grow at a healthy pace during the forecast period.
Similarly, rapid expansion of tourism industry, introduction of new government
regulations, and increasing water parks will have a positive impact on
the watercraft accessories market.
Furthermore, increased freight logistics in several geographic regions and growing usage of watercraft
in logistics are likely to create lucrative opportunities for watercraft
accessories manufacturers in coming years.
Key Takeaways from Market Study
- Based on type, the life vest segment is projected to grow at a CAGR of 5% during the forecast period.
- By sales channel, the online sales channel segment is projected to create an absolute $ opportunity of US$ 2,996.9 Mn between 2022 and 2032.
- Based on end use, coastal tourism & shipping company segment is projected to hold around 27% of the market share in 2022.
- TheS. watercraft accessories market is expected to exceed revenues worth US$ 1,802.7 Mn by the end of 2032.
- Watercraft accessories market in India is likely to grow at a robust pace of around 2% CAGR during the forecast period.
- Demand for watercraft accessories in China is estimated to grow at a value CAGR of 8% between 2022 and 2032.
“Rise in coastal tourism industry and increase in maritime trade activities
will continue to provide a strong impetus to the growth of the
watercraft accessories market,” says a Future Market Insights analyst.
Market Landscape
Among the industry's key players are Yamaha Motor Corporation, WireC,
Bombardier Recreational Products Inc., IRM Offshore and Marine Engineers
Private Limited., Covercraft Industries, LLC, BEXCO NV, Kawasaki Motors
Corp., AXIOM CORDAGES LIMITED, Samson Rope Technologies, TEUFELBERGER,
DAN-FENDER, Garware Technical Fibres Ltd., EVOLUTION TRADING (SHANGHAI)
CO.LTD, SHEICO Group, ABSOLUTE OUTDOOR, INC. and others.
These key manufacturers are focusing on increasing their regional market share
and are involved in making their direct presence in the local markets by
expanding their dealer network. They are collaborating with local
distributors to supply their products globally.
Key Segments Covered In Watercraft Accessories Market Analysis
By Type:
- Life Vest
- Tow Ropes
- Boat Dock Line & Storage
- Boat Fenders
- Boat Cover
- Others
By End Use:
- Military & Defence
- Amusement Parks
- Professional & Hobbyist
- Coastal Tourism & Shipping Company
- Offshore Vessel
- Cargo Logistics
By Sales Channel:
- Online
- Offline
- Multi Brand Store
- Speciality Store
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East & Africa
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of
the global watercraft accessories market, presenting historical demand
data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the global watercraft
accessories market based on type, end use, sales channel, and region.
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