Marine Audio System Market: Trends, Opportunities and Competitive Analysis

Marine Audio System Market: Trends, Opportunities and Competitive Analysis

Marine Audio Market Trends and Forecast

The future of the global marine audio market looks promising with opportunities in the inboard, outboard, and sterndrive market. The global marine audio market is expected to reach an estimated $2.5 billion by 2027 and it is forecast to grow at a CAGR of 6.8% from 2021 to 2027. The major drivers for this market are the growth in recreational boats production and increasing customer demand for better quality sound systems.

Emerging Trends in the Marine Audio Market

Emerging trends, which have a direct impact on the dynamics of the industry, includes development of multi-zone marine stereo receivers and the introduction of Wi-Fi stereos.

A total of 118 figures / charts and 65 tables are provided in this 151 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of marine audio market report; please download the report brochure.

Marine Audio Market by Segments

Lucintel forecasts that speakers will remain the largest segment and subwoofer will experience the highest growth over the forecast period. The study includes trends and forecast for the global marine audio market by component, boat type, and region, as follows:

Marine Audio Market by Component [Value ($ Million) and Volume (Thousand Units) from 2016 to 2027]:

• Speaker
• Subwoofer
• Stereo Receiver
• Amplifier

Marine Audio Market by Boat Type (Value $ Million Shipment Analysis in 2021)

• Inboard
• Outboard
• Sterndrive
• Others

Marine Audio Market by Region [Value ($ Million) and Volume (Thousand Units) from 2016 to 2027]:

• North America
• US
• Canada
• Mexico
• Europe
• Italy
• United Kingdom
• France
• Germany
• Asia Pacific
• Australia
• China
• Taiwan
• New Zealand
• The Rest of the World
• Brazil

List of Marine Audio Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies marine audio companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the marine audio companies profiled in this report includes.

• SONY
• Harman
• Clarion
• JVC
• Pioneer
• Fusion
• Rockford
• JL Audio
• Wet Sounds
• MTX Audio

Marine Audio Market Insights

• Lucintel forecasts that speakers will remain the largest segment and subwoofer will experience the highest growth over the forecast period by component type due to increasing customer demand for better quality multimedia entertainment products.
• Europe is expected to remain the largest region due to higher production of recreational boat whereas Asia Pacific is expected to witness highest growth over the forecast period due to increasing boat production and growth in tourism & water sports activities.

Features of the Global Marine audio Market

• Market Size Estimates: Global marine audio market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global marine audio market size by various segments, such as by component in terms of value and volume.
• Regional Analysis: Global marine audio market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments and regions for the global marine audio market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global marine audio market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model

FAQ

Q1. What is the marine audio market size?

Answer: The global marine audio market is expected to reach an estimated $2.5 billion by 2027.

Q2. What is the growth forecast for marine audio market?

Answer: The marine audio market is expected to grow at a CAGR of 6.8% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the marine audio market?

Answer: The major drivers for this market are the growth in recreational boats production and increasing customer demand for better quality sound systems.

Q4. What are the major service types or end use industries for marine audio?

Answer: Marine audio system for inboard is the major segment by boat type for marine audio.

Q5. What are the emerging trends in marine audio market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include development of multi-zone marine stereo receivers and the introduction of Wi-Fi stereos.

Q6. Who are the key marine audio companies?

Answer: Some of the key marine audio companies are as follows:

• SONY
• Harman
• Clarion
• JVC
• Pioneer
• Fusion
• Rockford
• JL Audio
• Wet Sounds
• MTX Audio

Q7. Which marine audio customer type segment will be the largest in future?

Answer: Lucintel forecasts that speakers will remain the largest segment and subwoofer will experience the highest growth over the forecast period by component type due to increasing customer demand for better quality multimedia entertainment products.

Q8: In marine audio market, which region is expected to be the largest in next 5 years?

Answer: Europe is expected to remain the largest region due to higher production of recreational boat whereas Asia Pacific is expected to witness highest growth over the forecast period due to increasing boat production and growth in tourism & water sports activities.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising growth opportunities for the global marine audio market by component type (speaker, subwoofer, stereo receiver, and amplifier), by boat type (inboard, outboard, sterndrive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which region will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?

Q.5 What are the business risks and competitive threats in this market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are some of the changing demands of customers in the market?

Q.8 What are the new developments in the market and which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?

Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?

Q.11 What M&A activity has occurred in the last five years?

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