Product Code: ETC049327 | Publication Date: Jul 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Singapore boat market is estimated to grow at a CAGR of 8.3% during the forecast period 2020-2026. Factors such as increasing tourism, growing urbanization and rising disposable income are expected to drive the growth of the Singapore boat market in the coming years. Additionally, initiatives taken by the government to promote water sports activities are also anticipated to contribute significantly towards the development of this industry in Singapore.
Increasing Tourism - The number of tourists visiting Singapore has increased significantly over recent years; leading to higher demand for commercial vessels for touristic purposes such as sightseeing trips and fishing charters providing an impetus for the growth of recreational boats in this region.Growing Urbanization - Rapidly increasing population along with improved lifestyle patterns have resulted in a surge in demand for recreational boating activities among people living in cities propelling further growth opportunities for small vessel makers operating in this market space.Rising Disposable Income ??? With continuous improvement in economic conditions, individuals now have more disposable income which they prefer investing into leisure activities like sailing or rowing on rivers, lakes or sea shores driving up sales within recreational boating segments across Singapore
High Ownership Cost ??? Boats are expensive due their costliness associated with maintenance and upkeep charges making it difficultfor people from lower middle class segmentto own one resulting into reduced customer base throughout this vertical.Lack Of Awareness & Unstable Regulations ??? Many consumers lack awareness about operation rules & regulations related tobuying/selling boats while there is no certainty regarding laws governingthe ownership& taxation system inhibiting furtherexpansion prospects within this domain
Some prominent players operating acrossSingapore boat industry includeBavaria Yachtbau GmbH (Germany), Brunswick Corporation(USA), Ferretti Group (Italy), Marine Products Corp.(USA) , Sunseeker International Ltd.(UK)among others
The outbreakof COVID-19 pandemic has adversely impacted many industriesand marine sectors were not spared either; leading to complete suspension of industrial production across key countries amidst lockdown enforcedby respective governments worldwide thus hindeing growth potentials within Singapore boat marketspace overcoming near future scenarios
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Singapore Boat Market Overview |
3.1 Singapore Country Macro Economic Indicators |
3.2 Singapore Boat Market Revenues & Volume, 2020 & 2030F |
3.3 Singapore Boat Market - Industry Life Cycle |
3.4 Singapore Boat Market - Porter's Five Forces |
3.5 Singapore Boat Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.6 Singapore Boat Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.7 Singapore Boat Market Revenues & Volume Share, By Power, 2020 & 2030F |
4 Singapore Boat Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Singapore Boat Market Trends |
6 Singapore Boat Market, By Types |
6.1 Singapore Boat Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Singapore Boat Market Revenues & Volume, By Type, 2020-2030F |
6.1.3 Singapore Boat Market Revenues & Volume, By Outboard, 2020-2030F |
6.1.4 Singapore Boat Market Revenues & Volume, By Inboard, 2020-2030F |
6.1.5 Singapore Boat Market Revenues & Volume, By PWC, 2020-2030F |
6.1.6 Singapore Boat Market Revenues & Volume, By Others, 2020-2030F |
6.2 Singapore Boat Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Singapore Boat Market Revenues & Volume, By Fishing, 2020-2030F |
6.2.3 Singapore Boat Market Revenues & Volume, By Watersports, 2020-2030F |
6.2.4 Singapore Boat Market Revenues & Volume, By Sailing, 2020-2030F |
6.2.5 Singapore Boat Market Revenues & Volume, By Others, 2020-2030F |
6.3 Singapore Boat Market, By Power |
6.3.1 Overview and Analysis |
6.3.2 Singapore Boat Market Revenues & Volume, By Engine-Powered Boats, 2020-2030F |
6.3.3 Singapore Boat Market Revenues & Volume, By Sail-Propelled Boats, 2020-2030F |
7 Singapore Boat Market Import-Export Trade Statistics |
7.1 Singapore Boat Market Export to Major Countries |
7.2 Singapore Boat Market Imports from Major Countries |
8 Singapore Boat Market Key Performance Indicators |
9 Singapore Boat Market - Opportunity Assessment |
9.1 Singapore Boat Market Opportunity Assessment, By Type, 2020 & 2030F |
9.2 Singapore Boat Market Opportunity Assessment, By Application, 2020 & 2030F |
9.3 Singapore Boat Market Opportunity Assessment, By Power, 2020 & 2030F |
10 Singapore Boat Market - Competitive Landscape |
10.1 Singapore Boat Market Revenue Share, By Companies, 2023 |
10.2 Singapore Boat Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |