The global marine audio market is expected to reach an estimated $2,195.4 million by 2023 and it is forecast to grow at a CAGR of 2.5% from 2018 to 2023

LONDON, Dec. 3, 2018 /PRNewswire/ -- Trends, opportunities and forecast in marine audio market to 2023 by product 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)

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The future of the global marine audio market looks good with opportunities in the inboard, outboard, and sterndrive market. The global marine audio market is expected to reach an estimated $2,195.4 million by 2023 and it is forecast to grow at a CAGR of 2.5% from 2018 to 2023. The major drivers for this market are the growth in recreational boats production and increasing customer demand for better quality sound systems.

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

marine audio market by product

marine audio market

marine audio manufacturers

The study includes the marine audio market size and forecast for the global marine audio market through 2023, segmented by component, boat type, and region, as follows:

Marine Audio Market by Component ($ Million and Thousand Units from 2012 to 2023)
Speaker Subwoofer Stereo Receiver Amplifier

Marine Audio Market by Boat Type ($ Million in 2017)
Inboard Outboard Sterndrive Others

Marine Audio Market by Region ($ Million and Thousand Units from 2012 to 2023)
North America US Canada Mexico Europe Italy United Kingdom France Germany Asia Pacific Australia China Taiwan New Zealand The Rest of the World Brazil
Some of the marine audio companies profiled in this report include SONY, Harman, Clarion, JVC, Pioneer, Fusion, Rockford, JL Audio, Wet Sounds, and MTX Audio and others.

On the basis of its comprehensive research, Lucintel forecasts that the speakers will remain the largest segment and subwoofer will experience the highest growth over the forecast period due to increasing customer demand for better quality multimedia entertainment products.

Within this market, marine audio system for inboard will remain the largest boat type and it is expected to show highest growth over the forecast period due to rising demand of cruise in the emerging markets.

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

Some of the features of "Marine Audio Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global marine audio market size estimation in terms of value ($M) and volume (Thousand Units) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.
Segmentation analysis: Global marine audio market size by various applications such as component, and boat type in terms of value and volume shipment.
Regional analysis: Global marine audio market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of marine audio in the global marine audio market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of marine audio in the global marine audio market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

This report answers the following 11 key questions:
Q.1. What are some of the most promising, high growth opportunities for the marine audio market by product 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 key challenges and business risks in this marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market?
Q.5. What are the business risks and competitive threats in this marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market?
Q.6. What are the emerging trends in this marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market?
Q.8. What are the new developments in the marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market? Which companies are leading these developments?
Q.9. Who are the major players in this marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing services in this marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) market and how big of a threat do they pose for loss of market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the marine audio (marine audio system market, marine stereos market, boat stereos market, recreational boat sound system market, marine electronics) industry

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