Boat Steering Wheels Market is anticipated to witness growth of 5% to 6% in forecast period.
According to the research study, boat steering wheels market is predicted to witness continuous growth in the next decade i.e. 2021-2031. The boat wheel is part of the complete steering arrangement that can comprise of the pedestal, helm, steering cables, helm controls, and other steering system parts.
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FACTS AT A GLANCE
Companies: Volantec.It,Exit Engineering SRL.,Kobelt Manufacturing Co. Ltd.,Multiflex,Stazo b.v.,Schmitt & Ongaro,VETUS,Metalstyle,Båtsystem,Craftsman Marine
Coverage: All major geographies and key segments
Segments:By Type(Racing,Classic); By Applications(Monohull,Multihull,Others)
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Increasing Adoption of Boats for Maritime Security
Powered boats are used for recreational, fishing, and maritime security purposes. These boats are been modified for security purposes. Illegal events on water bodies, combined with rising tensions between international borders in the current situation, have encouraged the growth in deployment of police force boats to guard such water bodies, with the main focus on harbours.
Guarding the coast is required against piracy, smuggling, and forced invasions, and also for rescue operations. This has increased the adoption of fast-moving boats. The boats used for these are powerful, nimble, and have quick action steering systems to move on the water bodies. This has increased the demand of boats, which, in turn, is projected to push the demand for boat steering wheels.
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Coastal and Marine Tourism to Lead the Growth
Marine tourism is same as of coastal tourism, but it concentrates more on water sports. Both of these are eco-friendly forms of tourism. The inclination of tourists attracted towards the marine tourism has led to the higher sales rate of boats globally.
This had an absolute positive impact on coastal and marine tourism, and thereby boosting the sales of market. Moreover the demand of the luxury ships, cruise boats and rescue boats has increased which has indirectly impacted to growth of the market
Thus, coastal and marine tourism has led to the increase in development of boats, which is indirectly driving the growth of the market.
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