Boat Steering System Market, By Propulsion System (Inboard, Outboard, Stern drive), By Steering Type (Manual Steering, Hydraulic Steering, Electric Power Steering and Electro-Hydraulic Steering), By Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket), By Boat Type (Small, Mid-Size and Large) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published In : Feb 2020

Code : CMI1481

Pages :130

Formats :

Excel and PDF

Industry : Automotive and Transportation

Boat Steering System MarketSize and Trends

Market Insight-Global Boat Steering System Market

Market Overview

A boat steering system refers to equipment designed to help in effectively maneuvering the boat traveling on the surface of water bodies. The system acts as an actuating mechanism and link between the rudder and the steering wheel controlled by the helmsmen located on the deck of the boat. The boat steering system is comprised of the helm, steering cable, wheel, and cable connections, which all connect wheel to the engine. The helm is the most critical part, which converts the wheel’s rotary motion push-pull motion on the cable. This ultimately moves propeller right, left or amidships. Majorly helms are rotary types 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.

The global boat steering system market was valued for US$ 672.5 Mn and 742,293.0 in terms of volume in 2019.

arket Trends

Outboards are expected to hold dominant position in the global boat steering system market

On the basis of design of boat, outboard boats hold dominant position in the global boat steering system market followed by inboards and sterndrives. This is owing to simplicity design by which these steering systems can be installed, as well as the improvement in deck space, which provides more room to consumers as the engine is conveniently attached on the stern of the boat. Moreover, outboard engines are more fuel-efficient, have better power-to-weight ratio, and offer better acceleration than other propulsion systems.

Low aftermarket sales to continue during the forecast period

Aftermarket sales for boat steering systems account for low market share due to low breakdown rate, replacement rate and the preference of consumers to stick to the default steering system present on a boat. Moreover, weak retailing activity is another factor hindering the market share for aftermarket sales.