Sailing Dinghy Masts Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, France, Australia, Germany, Japan - Size and Forecast 2024-2028

Sailing Dinghy Masts Market Size 2024-2028 

The sailing dinghy masts market size is forecast to increase by USD 333.1 million,at a CAGR of 4.83% between 2024 and 2028.  In the realm of sailing dinghies, market growth is driven by several factors. Firstly, there's an increasing focus on customer engagement in marinas and recreational boating activities. Governments worldwide are investing in aqua-tourism initiatives to boost this trend. Secondly, vendors are launching new services to cater to the evolving needs of sailing dinghy enthusiasts. These offerings range from advanced sailing courses to maintenance and repair services, ensuring a seamless sailing experience. The combination of government support and innovative vendor offerings is fueling the sailing dinghy masts market's growth, making it an exciting space to watch.

What will be the Size of the Market During the Forecast Period?

For More Highlights About this Report, Request Free Sample

Market Dynamic

Key Market Driver

Increasing customer engagement in marinas and recreational boating activities is notably driving the sailing dinghy masts market growth. The global sailing dinghy masts market witnesses strong demand due to increased consumer involvement in marina and recreational boating activities. The US was the largest market for recreational boating in 2021. The recreational boating industry in the US is expected to surpass USD28 billion by 2026 and witnessed growth continuously over the last decade. In 2020, boating activities were halted temporarily due to pandemic-related restrictions, which negatively impacted the global sailing dinghy masts market. However, in 2021, the global sailing dinghy masts market regained momentum with the lifting of pandemic restrictions, large-scale vaccination drives, and a declining number of COVID-19 cases. A large part of this growth stems from marina and charter boat services operating in the US. Since owning and maintaining a leisure boat is very expensive, people in the US with mid-level and low-level annual incomes are shifting from the concept of boat ownership to boat rentals (boating experiences) offered by company-operated leisure/recreational boating service providers. Hence, marinas in the country are generating a huge demand for boat rentals. With the increasing consumer shift toward marinas, the demand for sailing dinghy masts is expected to rise further during the forecast period.

Significant Market Trends

The growing number of HNWI people, which is boosting the development of marinas globally is the primary trend driving the sailing dinghy masts market growth. Owning a recreational or leisure boat is very expensive. Therefore high-net-worth individuals (HNWIs) are the major buyers of these luxury sailing dinghies. Hence, the growth of the market largely depends on the global HNWI population. Leisure boating is one of the major recreational activities among such people globally. Major boat manufacturers and operators have been registering strong financial results since 2016. This is mainly attributed to the increasing HNWI population and its interest in buying leisure boats. Since this segment of customers can afford to engage in leisure boat-related activities, it is expected that a significant amount of investments will be made in the building of new advanced sailing dinghies, which will result in boosting the demand for sailing dinghy masts during the forecast period.

Major Market Challenge

The high risk of maritime accidents is the major challenge impeding the sailing dinghy masts market growth. Global maritime statistical data shows that most maritime accidents involve sailing dinghies. The number of sailing dinghy accidents in the US is high. For instance, the US Coast Guard reported a 25% jump in boating fatalities in the summer of 2021 when compared to the same season in 2020. Casualty numbers have been increasing due to growing interest in boating activities. Operator inattention, operator inexperience, not paying heed to potential threats, excessive speed, and machinery failure rank among the top five primary factors responsible for accidents involving sailing dinghies. The increasing number of sailing dinghy accidents is becoming a concern for different stakeholders in the market. Most tourists who participate in water sports for recreation do not have sufficient knowledge or training. The lack of the knowledge and skills required for water sports and boating may lead to drowning or other serious accidents. The most common injuries during boating activities are sprains, fractures, head lacerations, and concussions. Fatalities during boating activities are increasing significantly. Therefore, the increasing number of boat accidents has resulted in a decline in boat registrations, which might hinder the growth of the global sailing dinghy masts market during the forecast period.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AG Plus SPARS: The company offers Sailing dinghy masts for racing purposes, such as D54, D57S, D57M, D61, D65, and D66, which can be customized.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Allspars Ltd.
• Chinook Sailing Products
• Gaastra Windsurfing
• Goya Windsurfing
• Heol Composites
• Kona Windsurfing AB
• New Zealand Rigging Ltd.
• Norfolk Marine Chandlers Ltd.
• North Actionsports Group
• Pauger Carbon Composites
• Pinnell and Bax Ltd.
• Point 7 International PTE LTD.
• Sailing Chandlery Ltd.
• Selden Mast AB Sweden
• Severne
• Synergy Sports Inc.
• The GUN SAILS
• West Coast Sailing
• Z Spars International Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Type 

The  aluminum segment is estimated to witness significant growth during the forecast period. In 2023, aluminum accounted for the largest share of the global sailing dinghy masts market. Aluminum is preferred by sailing dinghy mast designers and builders for its enriched properties such as better weldability, high durability, and higher corrosion resistance compared to sailing dinghy masts made of other metals such as steel.

Get a glance at the market share of various regions Download the PDF Sample

The aluminum segment accounted for USD 391.90 million in 2018 and showed a gradual increase during the forecast period. It is lightweight compared to other materials, which is driving the demand for aluminum to procure sailing dinghy masts. Therefore, the increasing requirements for sailing dinghies for leisure and commercial purposes, along with the myriad benefits of using aluminum to procure sailing dinghy masts, will fuel the growth of the market in focus during the forecast period. 

Regional Analysis

For more insights on the market share of various regions Download PDF Sample now!

North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Individual boaters in the region prefer taking up recreational boating as an experience over boat ownership. This shift in preference has increased customer engagement in marina and charter services, which is a major factor driving the demand for sailing dinghy masts for rental in North America. The US and Canada are the two major markets for sailing dinghy masts in North America. Boating is one of the major recreational activities preferred by people in the US. Factors such as positive economic growth in the country over the last decade, increasing consumer confidence, and technological innovations by sailing dinghy masts manufacturers are expected to drive the market in focus to grow in the US during the forecast period. 

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type Outlook
  • Aluminum
  • Carbon
  • Fiberglass
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

You may also interested in below market reports:

1. Sailboat Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, Australia, Germany, UK - Size and Forecast

2. Catamaran Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, Italy, UK - Size and Forecast

3. Leisure Boat Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Italy, Canada, UK, France - Size and Forecast

Market Analyst Overview

Modern sailboats cater to diverse preferences, from racing sailboats with sleek carbon fiber mast systems to cruising yachts and superyachts equipped with aluminum masts and sloop rigs. Horizontal battens and in-mast furling mainsails optimize handling during bluewater cruise sailboats adventures, while keels and rudders ensure stability and control. Sustainability initiatives drive the use of eco-friendly products and high-strength materials like stainless steel and renewable resources in rigging solutions and boom designs. For enthusiasts, wave riding and freeriding experiences integrate wave plates for enhanced performance in water sports. From gaff-rigged sloops to Bermuda rigs, each sail type offers unique characteristics for recreational sailing and competitive racing alike. The evolution towards sustainable mast materials underscores a commitment to environmental responsibility in the sailing community, blending tradition with innovation to navigate the waves with efficiency and style.

Download PDF Sample

What are the Key Data Covered in this Market Forecast

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies