Global Marine Audio Market Scope 2024, Forecast To 2033
8 Mar, 2024
The marine audio market has seen marginal growth, increasing from $1.84 billion in 2023 to $1.87 billion in 2024, with a CAGR of 1.5%. Factors such as increased demand for recreational boating and economic growth have contributed to this growth. Forecasts indicate marginal growth to $2.01 billion by 2028, with a CAGR of 1.8%, attributed to environmental concerns and growth in electric boats. Major trends include waterproof technology development and enhanced connectivity options, alongside sustainability and eco-friendly products.
Global Marine Audio Market Key Driver
The marine audio market is anticipated to witness growth, propelled by the expanding recreational boating industry. This sector, dedicated to the production, distribution, and utilization of boats and related equipment for leisure, has experienced significant economic growth. For example, in May 2023, the National Marine Manufacturers Association reported a 36% increase in the annual economic impact of recreational boating, reaching $230 billion in 2023. This surge supported over 812,000 jobs. Consequently, the demand for marine audio systems is expected to rise, providing boaters with entertainment and reliable sound quality in the unique marine environment.
Get A Free Sample Of The Global Marine Audio Market ReportGlobal Marine Audio Market Segments
The marine audio market covered in this report is segmented –
1) Product:Speaker, Subwoofer, Stereo Receiver, Amplifier
2) Boat Type:Inboard, Outboard, Sterndrive, Other Boats
3) Technology:Wired, Wireless
4) Sales:Original Equipment Manufacturer (OEM), Aftermarket
By Geography: The countries covered in the marine audio market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the marine audio market in 2023. Asia-Pacific is expected to be the fastest-growing region in the marine audio market report during the forecast period. The regions covered in the marine audio market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Marine Audio Industry Players
Harman International; Garmin; Sony Corporation; JBL; Crestron; Pioneer Corporation; West Marine; JL Audio; JVC Corporation; Kenwood Corporation; KICKER; Boss Audio Systems; Steinway Lyngdorf; Merdian; MTX Audio; The Faurecia Clarion Electronics Co. Ltd.; Stinger; Rockford Corporation; Paradigm; Memphis Car Audio; James Loudspeaker; MB Quart; Poly-Planar LLC; Maxxsonics USA; Sonance; Stillwater Designs and Audio Inc.; Wet Sounds.
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Marine Audio Market Overview
Marine audio is a technology that enables boaters and yacht owners to listen to music, podcasts, or other media on their boats. These are often waterproof and shock-resistant to withstand the extreme circumstances of being near the ocean, usually mounted in the cabin or cockpit, and are used to play music aboard boats.