Spinnaker Pole: Introduction
- A spinnaker pole is a spar used in sailboats. A spinnaker pole helps control a variety of headsails.
- The product also has usage in jibs and genoas. Light weight spinnaker poles are popularly known as whisker pole.
Key Drivers of the Global Spinnaker Pole Market
- Rising cost of fossil fuel is driving sailboat manufacturers to invest in high quality spinnaker poles. It is specifically designed for sailing off the wind from a reaching course to a downwind.
- Rising disposable income in developing countries such as China, India, Mexico, Brazil, and South Africa is driving consumers to spend on luxury tourism. Traveling companies are promoting sailboat tourism activities. A sail with spinnaker pole helps these companies to save fuel costs. These factors are expected to boost the sale of different types of spinnaker pole products in the coming years.
New Opportunities from the Increasing Trend of Owning a Personalized Boat
- Rising number of high-net-worth individuals at the global level are driving the sales of personalized sailboats. These individuals prefer to purchase premium yachts for their leisure activities. Spinnaker pole is required in these sailboats, which is likely to create a new market avenue in the near future.
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High Cost of Spinnaker Poles a Market Restraint
- Spinnaker pole is a customized product. Most of the companies manufacture the product as per customer demand. It is not possible to manufacture spinnaker poles in mass volume. As a result, the average cost of spinnaker poles is high. This factor is expected to slow down the market growth.
Spinnaker Pole Market in Asia Pacific to Expand Significantly
- North America is a prominent market for spinnaker poles globally, and the market in the region is estimated to maintain its dominance in the near future. Rising number of sailboats including dinghies and yachts in the U.S. and Canada are likely to create new growth opportunities for the spinnaker pole market.
- Europe accounted for second largest share in the spinnaker pole market. European countries produce the maximum number of spinnaker poles and export it to other countries. Germany, France, and the Netherlands are key exporters of sailboats at the global level.
- The market in Asia Pacific is estimated to expand at a rapid pace. Increasing consumer spending on traveling for luxury tourism and exclusive travel is driving companies to invest in yachts. This factor is projected to boost the sales of spinnaker poles in this region. Moreover, government subsidies are driving foreign companies to invest in Asia Pacific to gain a market share.
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Key Players Operating in the Global Market
The global spinnaker pole market is fragmented in nature. Large number of small and medium players are present in the spinnaker pole market. Companies are working on product innovation and development to consolidate their market share. Majority of the companies operate their market at the domestic level. However, some global players are working on merger and acquisition strategies to increase their market share in different geographical locations. Few of the key players operating in the global spinnaker pole market are listed below:
- AG+ SPARS
- Competition Composites
- Allen Brothers
- Axxon Composites
- CST Composites
- Offshore Spars
- Optiparts - Windesign
- Hall Spars & rigging
- Heol Composites
- Southern Spars
- Pauger Carbon
- Selden Mast AB
Global Spinnaker Pole Market, by Product Type
Global Spinnaker Pole, by End-use
Global Spinnaker Pole, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.