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Spinnaker Pole Market to Reach $1.25 Bn, Globally, by 2030 at 10.6% CAGR: Allied Market Research.
Surge in demand for luxury tourism, rise in disposable income, and shift toward alternative sources of energy drive the growth of the global spinnaker pole market. However, high costs associated with yacht charter hinder the market growth. On the other hand, change in sailboat and yacht infrastructure present new opportunities in the coming years.
Based on material, the aluminum segment held the highest market share in 2020, accounting for nearly three-fifths of the global spinnaker pole market, and is estimated to maintain its leadership status throughout the forecast period. This is due to surge in demand for sailing across the world. However, the carbon segment is projected to manifest the highest CAGR of 11.1% from 2021 to 2030, owing to rise in sailing activities.
Based on distribution channel, the online segment accounted for the largest share in 2020, contributing to nearly two-thirds of the global spinnaker pole market, and is projected to maintain its lead position during the forecast period. This is due to huge offers and discounts on e-commerce sites. Moreover, this segment is expected to portray the largest CAGR of 11.0% from 2021 to 2030. The report includes analysis of the offline segment.
Based on region, Europe , followed by North America , held the highest market share in terms of revenue 2020, accounting for nearly three-fifths of the global spinnaker pole market. This is because Europe produces the most spinnaker poles and exports them to other countries. Moreover, this region is expected to witness the fastest CAGR of 11.4% during the forecast period.
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