Rise in demand for sailboats, the demand for tachometer and odometer is expected to rise during the forecast period.
PORTLAND, OR, UNITED STATES, November 1, 2021 /EINPresswire.com/ — Boat speedometer products are largely used in marine, boats, ships, sailbaots, and yachts. A boat speedometer is a device used to measure a boat’s speed relative to water. Boat speedometer is used on submarine and surface boats. Boat speedometer is available in two display modes, analog display and digital display.
The global boat speedometer market was valued at $353.3 million in 2020, and is projected to reach $558.5 million by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
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Rise in disposable income of population coupled with surge in spending on tourism activities boosts the demand for boat speedometer in sailboats and keelboats, thereby driving the growth of the global boat speedometer market. For instance, disposable income of Spain registered a growth of 5.9% from 2017 to 2020. Increase in trend of recreational boating across the globe is expected to boost the growth of the boat speedometer market. Boat speedometer is able to perform with 12V or 24V on all types of boats, which assists in maintaining the control and speed of boats and sailboats, thereby fueling the growth of the boat speedometer market.
Rise in sea borne trade augments the demand for boat and yacht systems, which is expected to contribute to the growth of the global boat speedometer market. Pressure gauges, voltmeters, pitometer, tachometer, and GPS speedometer some of the boat speedometer products available in the market that have been widely adopted in boat and yacht systems to maintain the speed of boats and keelboats.
The key players profiled in this report include Faria Beede Instruments, Inc, Veethree Group, Flir Systems Inc (Raymarine Plc), Nasa Marine Ltd, Gaffrig Performance Inc Cruzpro Limited, Autometer Products, Compx International Inc (Livorsi Marine Inc), nKe Marine Electronics, and SAN GIORGIO S.E.I.N. srl.
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