Global Marine Wind Sensor Market to Grow Impressively at a CAGR of 3.89% during 2017-2021

(IT-NEWSWIRE.COM, July 20, 2017 ) The marine industry has come a long way as far as advancement in technologies has taken place in the recent past. The growth of boating industry is leading to higher sales of powerboats which are highly equipped with various technological features, one of them is wind sensor. Recently, the global market of marine wind sensor has witnessed moderate growth and also estimated to grow significantly. To explore additional details about the market, Market Research Hub (MRH) has broadcasted a latest study to its vast archive of research reports, with the title of “Global Marine Wind Sensor Market 2017-2021”. The research study displays the current scenario of the market and identifies the growth prospects for the coming years. Additionally, analysts have defined emerging trend as a factor that has the prospective to considerably impact the market and contribute to its growth or decline.

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Wind sensor is specifically designed for the rigors of the marine environment. The sensor computes instant and average wind speed and two-dimensional direction in the horizontal plane at the level of installation. Also, this sensor is solid-state with no moving parts, using ultrasonic measurement technology to detect wind speed and direction at speeds up to 60m/s. It has been analyzed that increase in the preference for ultrasonic wind sensors is one of the major trends contributing towards the growth of the market. Considering this fact, analysts have forecasted the global marine wind sensor market to expand at a CAGR of 3.89% during the period 2017-2021.

The report starts by presenting the detailed introduction of marine wind sensor, covering its life cycle, key market highlights, and overall market landscape. It has been studied that the decrease in fuel prices that is motivating consumers to purchase boats, will be one of the major factors driving the growth prospects of the global marine wind sensor market throughout the estimated period. Also, increased use of advanced automotive technologies in boats is showing positive growth opportunities for the market.

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Moreover, the market has been segmented on the basis of application, yachts and powerboats. Of these, the powerboat segment is gaining momentum. The technologies used in the manufacturing of marine powerboats are continually growing to accommodate the rising stringency of carbon emission and safety norms. OEMs develop advanced automotive technologies that can provide fuel economy benefits as well as advanced safety features.

In terms of geographic regions, the market has been analyzed in major regions including U.S., RoW and Europe. In 2016, Europe dominated the marine wind sensor market and is likely to retain its market dominance during the next few years as well. The increasing demand and adoption of marine wind detectors in countries such as Finland, France, Spain, Italy, and Germany, will be a major factor driving the market’s growth in Europe.

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At present, key vendors operating in this market are Garmin, Gill Instruments and Renewable NRG System.

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Global Marine Wind Sensor Market to Grow Impressively at a CAGR of 3.89% during 2017-2021