According to a new report from Allied Market Research titled “Global Boat Speedometer Market by Application, Type, Distribution Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030” The global boat speedometer market was valued at US$353.3 million in 2020 and is forecast to reach US$558.5 million by 2030 Reach million US$ and grow at a CAGR of 4.6% from 2021 to 2030. In 2020, Europe dominated the global boat speedometer market with a 56.5% market share.
Major players profiled in the market 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 SEIN srl.
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Boat speedometer products are mainly used in ships, boats, ships, sailboats and yachts. A boat speedometer is a device used to measure a boat’s speed relative to water. The boat speedometer is used on submarines and surface boats. The boat speedometer is available in two display modes, analog display and digital display.
The increase in the disposable income of the population coupled with an increase in spending on tourism activities are boosting the demand for boat speedometers in sailboats and keelboats, thereby driving the growth of the global boat speedometer market. For example, Spain’s disposable income grew by 5.9% from 2017 to 2020. The increase in recreational boating trend across the world is expected to boost the growth of boat speedometer market. Boat speedometers can be powered by 12V or 24V on all types of boats, which helps to maintain the control and speed of boats and sailboats, thereby promoting the growth of boat speedometer market.
The increase in maritime trade increases the demand for boat and yacht systems, which is expected to contribute to the growth of the global boat market…
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