Boat speedometer is an important device, which is used to measure speed of boats or the ship in water. It becomes very important to measure the speed of the boat during any climatic change so that safety of people inside the boat can be ensured. Boat speedometer is also known by other name that is pitometer log. By using the boat speedometer or pitometer log relative speed of the boat with the water is measured. The boat speedometer can be used for both submarines and the surface boats. The speed which speedometer shows is directly fed to the navigation system of the boat or ship.

COVID-19 scenario analysis:

• The demand for boat speedometers is expected to decrease in the year 2020, owing to low demand from different industries such as marine industry, owing to lockdown imposed by government of many countries.
• COVID-19 pandemic has shut-down production of various products in the blanking machines industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the boat speedometers market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020, and is expected to cause a negative impact on the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of corona virus, thereby halting demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.

• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

Boat speedometer is essential component for the different kinds of boats such as sailboats and yachts which is necessary to analyze the speed of the boat. There are two types of the boat speedometer available in the market that is electric paddle wheel type speedometer and pitot tube type speedometer. In the pitot tube type of boat speedometer air inside the tube is compressed by using the water. Then that compressed air pressure is measured and it is then converted to the speed of the boat. In electric paddle wheel type of boat speedometer, force of the passing water turns the paddle wheel and then that speed is observed. After that it is then conveyed to the speedometer gauge which is at the helm of the boat.

Both these types of the boat speedometer are used in the modern boats or ships. The pitot tube which has been used in speedometer is made up plastic. The shape of that tube is similar to the long narrow triangle. The end of the narrow triangle sticks to the bottom of the hull in the water. When the boat moves in forward direction, water gets into the tube which is attached to that triangle. When water gets into the tube, the force of water pressurizes the air which is present inside the tube. The speed of the boat is measured based upon the pressure inside the tube. Higher the amount of pressure, higher is the speed of the boat. The speedometer takes the pressure of air and converts it into the speed and then displays that speed. 

New product launch to flourish the market:

Many companies in industrial heating equipment market are developing and introducing new products to the market. These new products are technologically more advanced than the previous range of their products. These new products are more efficient and effective in their performance and are widely used in the industry.

In February 2020, Nortek which is an expert in oceanographic instruments has launched newly developed speed log named as Doppler speed log. This speedometer is specially designed for large ships and boats. Many boat speedometers are able to give correct results when the conditions are ideal. But this speedometer is capable of providing accurate vessel speed even when the climatic conditions are not good.

Key driving factor for the growth of boat speedometer market:

Maintaining the proper speed of the boat is very important in order to prevent any dangerous situation such as failure in the boat machine or in any part of the boat. Hence, the demand for the boat speedometers is expected to rise during the forecast period.

Key restraining factor for the growth of boat speedometer market:

There are many alternatives for the speedometer of the boat which are available in the market and are also being used by the companies. These alternatives includes impeller log and propeller RPM. Hence, the availability of the alternatives could restrain the growth of boat speedometer market.

Key segments covered:

 
Yachts 
 
Others

Key benefits of the report:

• This study presents the analytical depiction of the boat speedometer market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• The report provides a detailed boat speedometer market analysis based on competitive intensity and how the competition will take shape in coming years.