Sailboat Market is expected to expand at the highest CAGR of 2.4% over the forecast period

Sailboat Industry Overview

The global sailboat market size was valued at USD 5.84 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 2.4% from 2021 to 2028.

The growth can be attributed to continuous research and development initiatives and a rise in the number of virtual trade shows. Companies are focused on the development of innovative, new yachts developed using ultra-modern production techniques and materials. The latest innovations and technological advancements made on the boats and boat engines help in increasing the demand for sailboats and help market players to maintain their market positions. The COVID-19 pandemic has contributed to digitalization in the industry. The prospects of virtual shows and live-streaming in near future are anticipated to create growth opportunities for the market.

Gather more insights about the market drivers, restrains and growth of the Global Sailboat Market

The COVID-19 pandemic significantly impacted the sailboat industry in the Americas and Europe and slowed down the production of sailboats across the world. This resulted due to the crisis measures taken by countries, which left some employees unavailable to complete existing orders, and in part to the delay in deliveries of parts needed for production. The cancellation of several boat shows, events, and competitions led to a decline in the sales of sailboats in Q1 and Q2 of 2020. The decline affected both consumer spending and exports. On the other hand, operational and production costs were adversely affected by disruptions in the delivery of parts from foreign countries to manufacturing sites and employee absences due to lockdowns and social distancing.

The pandemic has prompted digitalization initiatives in the market. Most boat shows across the world have been canceled and customers are attending virtual trade shows as an alternative. In the long term, such events are much cheaper to operate than real trade shows; moreover, purchase decisions no longer have to await certain trade shows, which can be expected to result in a better distribution of orders in the coming years. For instance, in February 2021, the Virtual Vancouver International Boat Show had 14,103 registrations. The virtual show featured highly interactive and innovative virtual showrooms with vast video content, product listings, chat room capabilities, and live-streaming.

Factors such as military conflicts in the Middle East, the U.K.’s departure from the European Union, loss of the value of the Turkish lira, and trade protectionism in the U.S. could create uncertainties regarding future economic relations between countries. This could affect unit sales as dealers find it difficult to provide security for down payments to companies exporting boats in these countries.

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Connected Ship Market: The global connected ship market size was valued at USD 6.0 billion in 2019 and is expected to witness a CAGR of 5.4% over the forecast period.
Yacht Charter Market: The global yacht charter market size was valued at USD 6.5 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027.

Market Share Insights

September 2021: During the ON THE HORIZON 2021 event, Groupe Beneteau announced the introduction of hybrid and electric propulsion systems for the EXCESS, DELPHIA, and BENETEAU brands.
August 2019: Bavaria Yachts announced the launch of two sailing yachts C45 and C50 at the Yachting Festival in Cannes, France.

Key Companies profiled:

Some of the prominent players in the global sailboat market include: