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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).

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'

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.

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.

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GCC Spinnaker Pole Market

Product ID: SQMIG20L2014