BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the size of global yacht shell doors market to grow at a CAGR of 7.5% during the forecast period between 2022 and 2028 to reach a value of USD 412.5 million by 2028. The global yacht shell doors market is expanding due to rapidly growing travel and leisure sector and rising consumer spending. Opportunities for the yacht shell door market are expected in the upcoming years due to the expansion of sales and distribution channels in developing countries to allow private businesses access. The size of the fleet is expected to significantly increase due to increased public and private spending on tourism and leisure activities, which will increase demand for new yacht shell doors, especially in developed economies. The adoption rate of yacht shell doors is expected to increase significantly over the forecast period because of the implementation of strict regulations governing passenger safety.
Global Yacht Shell Doors Market – Overview
Due to their aesthetic appeal and practicality for loading and unloading cargo, yacht shell doors are becoming more popular in the shipbuilding and marine vehicle industries, which is propelling the market growth. The rapid growth of the tourism industry has led to an increase in the number of high-net-worth individuals (HNWI) and their increased interest in recreational and leisure activities, which has increased the global sales of marine vessels, such as yachts, ferries, and cruise ships. The rise in marine vessel sales is expected to spur demand for all their parts, including yacht shell doors, supporting market expansion. The demand for yacht shell doors has increased because of the implementation of strict regulations about the safety of passengers at sea. Even though yacht shell doors offer a variety of advantages, sales of these watertight doors are being hampered by their high price and requirement for ongoing maintenance.
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Global Yacht Shell Doors Market – Technology Advancements
The introduction of strict regulations about the safety of passengers in the water has increased demand for yacht shell doors. Market leaders are placing more emphasis on creating and releasing novel watertight and blast-proof yacht shell doors. The demand for recreational boats and yachts is rising quickly as consumer spending on leisure and recreation continues to rise in nations, such as the United Kingdom, the Netherlands, and Italy. Hence, several marine vehicle manufacturers are aiming to introduce novel vessels to meet this growing demand. For instance, the Dutch yacht manufacturer Feadship announced the release of its new 76.5-meter motor yacht, Boardwalk, in 2020. Boardwalk features two MTU engines, a steel hull, an aluminum superstructure, and more than four shell doors. The market for yacht shell doors in Western Europe is expected to grow because of such launches.
Global Yacht Shell Doors Market – Segment Information
Global yacht shell doors market has segments, such as Downward Opening, Simple Hinged Upward Opening, Pantograph Side Hinged Opening, and Roto-translating Hinged Upward Opening based on opening type; Hydraulic and Electric based on category; and Mega Yacht, Cruise Ship, Naval Vessels, Research Vessels, Offshore, Ferries, and Others based on yacht type. The mega yacht segment is projected to dominate global yacht shell doors market, accounting for most of the market share.
Impact of COVID-19 on Global Yacht Shell Doors Market
The Covid-19 pandemic harmed the global market for luxury yachts for several reasons, including the temporary closure of production facilities, disruptions in the supply chain, shortage of raw materials, and a decline in end-user demand. Due to the post-pandemic rise in interest in recreational and leisure activities, the global luxury yachts market is gradually recovering.
Competitive Landscape
Prominent players in global yacht shell doors market include Sea Power, Cramm, Ocean Group, Fassmer GmbH & Co. KG., Cen-Tex Marine, SeaNet SA, AdvanTec Marine, Saajos Group, Houdini Marine Windows, Nauticexpo, Winel Industry Group, and NAVINT. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global yacht shell doors market.
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