Home Blog Increasing Government Funding for the Development of Marine Tourism to Lead Market Growth

Increasing Government Funding for the Development of Marine Tourism to Lead Market Growth

The marine tourism industry and adventure sports have witnessed tremendous growth in recent times. Marine seats are widely used in super yachts, commercial vessels, pleasure boats, military crafts, workboats, and trawlers. Expanded vinyl also referred to as polyvinyl chloride (PVC) mostly used for the production of marine seats and cushions. These types of seats are mounted under the deck and over the deck as per the boat type. Manufacturers use high-quality materials that come with long-lasting colors and ensure safety measures for the marine environment. The key features of marine seats such as shock absorption, proper dimensions, contouring, cushioning, and seat height make them comfortable for use.

 

The marine seat market is growing at a substantial rate with the rising investments and increasing research activities by leading players of the industry who are looking to upgrade their product portfolio. In addition to this, growing awareness regarding the benefits of upgrading to advanced technologies is also one of the key factors responsible for market growth. Rapid improvement in marine infrastructure has opened lucrative opportunities for ship owners to excel in their business. Furthermore, growing marine tourism in different regions of the world has fueled the demand for marine seats. Moreover, the rise in trade activities in a developing nation has boosted demand for cargo ships and large vessels that have large marine seats to safely accommodate people on board, augmenting the market growth.

 

COVID-19 Impact on Marine Seats Market

The marine seat market has witnessed substantial growth in the last several years. However, the ongoing COVID-19 pandemic has hit the market growth and resulted in restraining factors as manufacturers will experience lack of demand for marine seats. COVDI-19 outbreak has forced seat manufacturers to reduce their production & installation operations due to shortage of manpower as well as interrupted supply chain. In the wake of coronavirus spread, there is reduced demand for consumption of sea-food products. This has impacted the marine trade as well as fishing activities across the globe. A travel restriction during lockdown phases has also affected travel activities and marine leisure. However, with some relaxation on travel, the industry is again looking to resume its operations.

 

  • In terms of ship type, the global market for marine seats is divided into commercial and military. Among these, the commercial segment is expected to grow at a higher rate in the coming years. Motorboats are anticipated to exhibit a rise in high demand with the growing tourism industry.
  • By seat type, the market is segmented into general seats, captain seats, and crew seats. The generate seat segment is projected to witness a significant surge in growth owing to increasing interest in recreational motorboats and cruising activities.
  • Based on end-user, the market for the marine seat is characterized into OEM and aftermarket. Out of these, the OEM segment is exhibiting a surge in demand for new ships and vessels across various industries.

 

The involvement of the government is crucial for encouraging manufacturers to put more effort into excelling their business and contribute to market growth. Companies present in the market are increasing their presence by focusing on untapped markets unveil potential opportunities. Additionally, they are forming a strategic alliance and introducing new technologies to boost business operations. The United States holds the majority of marine ships and boat manufacturers as they find more demand in the region supported by the positive business environment.

 

Deep-dive Insights on Marine Seats Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/marine-seat-market

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