What is the global market size of GCC Spinnaker Pole Market?

GCC Spinnaker Pole Market size was valued at USD 56.15 billion in 2021 and is poised to grow from USD 59.07 billion in 2022 to USD 88.61 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).

GCC Spinnaker Pole Market Size, Share, Growth Analysis, By Material(aluminum and carbon), By Boat Length(small boat, midrange boat and big boat), By Application(professional sports and cruising), By Distribution channel(online and offline) - Industry Forecast 2024-2031

Report ID: SQMIR20L2046 | Region: Regional | Published Date: April, 2024
Pages: 202 | Tables: 110 | Figures: 80

GCC Spinnaker Pole Market Regional Insights

UAE was in control of the market and made more money. Rising residential demand, a highly developed cold chain and logistics sector, and government programs to build social infrastructure are some of the key drivers of the UAE market expansion. The market is expected to be driven in the coming years by rising consumer awareness of the benefits of building structure insulation. Saudi Arabia is anticipated to experience the fastest rate of regional market expansion due to the rapid expansion of the residential and commercial construction industries and the adoption of various green building standards.

GCC Spinnaker Pole Market Report Snapshots

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GCC Spinnaker Pole Market size was valued at USD 59.07 billion in 2022 and is poised to grow from USD 62.14 billion in 2023 to USD 93.22 billion by 2031, at a CAGR of 5.20% during the forecast period (2024-2031).

The GCC spinnaker shaft market is decently divided in nature, because of the presence of a few players. To stay competitive and expand their customer base in the market, major players use new product development, acquisitions, mergers, and agreements as their primary development strategy. 'Ronstan International', 'Selden Mast', 'Z-Spars', 'Harken, Inc.', 'Profurl', 'Forespar', 'Wichard', 'Tylaska Marine Hardware', 'Antal Srl', 'Schaefer Marine', 'Lewmar Marine', 'Sparcraft', 'Hall Spars & Rigging', 'Ocean Yacht Systems', 'Carbonautica', 'Southern Spars', 'Marlow Ropes', 'Navtec Rigging Solutions', 'Reckmann Yacht Equipment', 'Colligo Marine', 'In January 2024, the 2023-24 Global Solo Challenge witnessed an incredible display of sailing mastery by Cole Brauer (USA) as she navigated the perilous waters of Cape Horn. In the world of solo sailing, few achievements are as remarkable as this feat. Brauer's journey around the legendary cape showcased remarkable strategy, skill, and resilience, marking her as a standout competitor in the challenging sport. ', 'In July 2023, the sailing vessel J/133 Pintia, skippered by Gilles Fournier and Corinne Migraine, surged ahead of Sunrise III on corrected time. Meanwhile, Tom Kneen's JPK 1180 took advantage of its joker card, deploying a new six-meter carbon spinnaker pole for downwind sailing. This addition, along with some flat-cut conventional spinnakers, aims to address weaknesses in Sunrise's performance, particularly VMG downwind in light winds. Navigator Tom Cheney aboard the British boat described it as "an interesting experiment," as they compete closely with Pintia and maintain a lead over Dawn Treader. ', 'In December 2023, the Italian Swan 65 Translated 9, skippered by Vittorio Malingri, achieved a significant victory in the 2023-24 Ocean Globe Race. Crossing the finish line on December 12, the team secured first place in line honors, provisional IRC, and Flyer Class. The second leg of the race commenced on November 5, covering a challenging 7250-nautical mile course to Auckland, New Zealand. '

The rising cost of fossil fuels has prompted manufacturers of sailboats to invest in high-quality GCC spinnaker poles in recent years. It was made specifically to sail against the wind, going from a reaching course to a downwind one. Consumers in developing nations are being encouraged to spend money on luxury tourism by rising disposable income. Sailboat tourism activities are being promoted by recreational and traveling businesses all over the country, which may increase demand for spinnaker poles because they save money on fuel. The sale of personalized sailboats is being driven by an increasing number of high-net-worth individuals at the level. For their leisure activities, these individuals prefer to purchase premium yachts. These sailboats require a spinnaker pole, which is likely to open up a new market opportunity soon. GCC spinnaker pole sales are likely to rise as a result of these factors in the coming years.

Traveling companies are promoting sailboat tourism activities and people buying personalized sailboats for enjoyment purposes are the key trends in the spinnaker pole market. As the price of fossil fuels rises, boat manufacturers are investing in high-quality spinnaker poles. It was designed to sail against the wind, from reaching to going downwind. As their disposable income rises, consumers in emerging nations like China, India, Mexico, Brazil, and South Africa are spending more on luxury tourism. Travel agencies are promoting sailboat tourism. By using a sail with a spinnaker pole, these businesses can reduce their fuel costs.The sale of various spinnaker pole products is expected to rise as a result of these factors in the coming years.

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GCC Spinnaker Pole Market Size, Share, Growth Analysis, By Material(aluminum and carbon), By Boat Length(small boat, midrange boat and big boat), By Application(professional sports and cruising), By Distribution channel(online and offline) - Industry Forecast 2024-2031

GCC Spinnaker Pole Market Regional Insights

GCC Spinnaker Pole Market Report Snapshots

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