Boat Steering System Market
Boat steering system is an equipment used to effectively maneuvering the boat traveling on the surface of water bodies. Boat steering system made of wheel, helm, steering cable, and cable connections. These components are linking between wheel and engine. Among all these components helm is the most important component as help is used to convert pull and push motion of the cable, moving the propeller right, left, or to amidships. All these system is controlled by helmsmen located on the deck of the boat. Moreover, Most of the ships uses rotary type’s helms. These helms are that are used with gears to turn the rudder. Moreover, there are different types of steering such as hydraulic steering, manual steering, electro-hydraulic steering, and electric steering. Similar to other systems on a boat, it requires timely maintenance and inspection during the boating season. A boat steering wheel is part of the helm that connects to hydraulic, electric or mechanical systems
Market Dynamics
Rising water tourism industry all over the world is expected to fuel the global boat steering system market in the forecast period. For instance, in 2019, a report published by World Tourism Organization, United Nations specialized agency for world tourism, International tourism is increased over 4% in between 2017-18. Apart from tourisms, territorial waters security heavily investing in surveillance boats. The illegal cross border activities such as landing of illegal arms, gold etc. on rise, to prevent these incident government all across the world are investing in the costal patrolling and infra-structure. For instance, in February 2018, according to Union budget of India, an annual budget of India, Indian Cost Guard, a water security agency of India, is allocated with around US$ 565.52 Mn in 2018 from 438.38 in 2017 with 29% growth between2017-18. These factors are expected drive the global Boat steering system market in the forecast period.
Market Taxonomy
This report segments the global boat steering system market on the basis of propulsion system, by steering type, by sales channel, by boat type and region. On the basis of propulsion system, global boat steering system market is segmented into inboard, outboard and stern drive. On the basis of sales channel, the global boat steering system market is segmented into manual steering, hydraulic steering, electric power steering and electro-hydraulic steering. On the basis of sales channel, the global boat steering system market is segmented into original equipment manufacturer (OEM) and aftermarket. On the basis of boat type, the global boat steering system market is segmented into, small mid-size, large. On the basis of region, global boat steering system market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.
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Detailed Segmentation:
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