At 5.1% CAGR, South & Central America Boat Sails Market is Projected to be Worth US$ 103.42 Million by 2031, says Business Market Insights

According to Business Market Insights research, the South & Central America boat sails market was valued at US$ 69.76 million in 2023 and is expected to reach US$ 103.42 million by 2031, registering a CAGR of 5.1% from 2023 to 2031. Shift toward electric sail boats or hybrid sail boats and growing demand for sustainable sailing materials are among the critical factors attributed to driving the South & Central America boat sails market growth.

Emissions from road, rail, air, and marine transportation account for ~25% of global CO2 emissions. According to the United Nations International Maritime Organization, marine traffic accounts for nearly 3% of global CO2 emissions. In recent years, the marine industry has been influenced by the push for sustainable and environmentally friendly alternatives, leading boat manufacturers to shift their focus to electric models. As concerns about climate change and pollution grow, manufacturers are looking into the potential of electric propulsion systems for cleaner and more efficient boating. The urgent need to reduce greenhouse gas emissions and combat climate change is mainly responsible for the shift to electric boat manufacturing. Traditional gasoline-powered boats pollute the air and water by emitting harmful exhaust gases and posing the risk of an oil spill. Electric boats, on the other hand, emit no direct emissions, providing a cleaner and more sustainable alternative. Boat manufacturers are making a significant contribution to the marine industry's greener future by embracing electric propulsion systems. This promotes the manufacturing and sales of electric or hybrid sailboats. The popularity of electric and hybrid sailboats is driving the development of advanced technologies that combine wind propulsion (sails) and electric power. This allows sailmakers to design sails that enhance the efficiency of electric motors. Sails that make the most of wind energy, for example, can extend battery life, improving hybrid boat performance and range. Thus, manufacturing and sales of electric or hybrid sailboats are expected to generate the demand for sails, acting as a trend for the boat sails market.

On the contrary, high initial and ownership costs of boats hamper the growth of the South & Central America boat sails market.

By type, the South & Central America boat sails market is bifurcated into mainsail & headsail and downwind & lightwind sails. The mainsail & headsail held 57.6% share of South & Central America boat sails market share in 2023, amassing US$ 40.15 million. It is projected to garner US$ 60.34 million by 2031 to register 5.2% CAGR during 2023–2031.

By application, the South & Central America boat sails market is segmented into cruising and racing. The cruising held 60.1% share of South & Central America boat sails market share in 2023, amassing US$ 41.95 million. It is projected to garner US$ 64.56 million by 2031 to register 5.5% CAGR during 2023–2031.

Based on country, the South & Central America boat sails market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 58.0% share of South & Central America boat sails market in 2023. It was assessed at US$ 40.47 million in 2023 and is likely to hit US$ 61.07 million by 2031, registering a CAGR of 5.3% during 2023–2031.

Key players operating in the boat sails market are North Sails GmbH; Doyle Sails International Ltd; Elvstrom Sails AS; Ullman Sails International Inc; Quantum Sails Design Group LLC; Wilfer Sails Technology (Heyuan) Co Ltd; OneSails International; Hyde Sails Ltd; Rolly Tasker Sails (Thailand) Co. Ltd.; and CHEONG LEE SAILMAKERS LTD, among others.

• In 2024: North Sails Apparel entered a partnership as an official clothing supplier to the Royal Ocean Racing Club.

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