Boats with Hydraulic Steering - Market information Best answer on the web
Author:
mike
06 27th, 2010 in
xn--00t609f.com
edit
Part of the fun of this job is turning a microscope on something you've always taken for granted. I live (and grew up) near the water in Nova Scotia, self-proclaimed as "Canada's Ocean Playground." From my window I can see everything from yachting marinas, to a major industrial shipyard, to the docks of our East-Coast naval fleet. Although this question required much more research than I'd anticipated when I took it on, I don't regret the time I've spent. It's been an interesting insight into an industry that helps drive my local economy.
In the years since 1936, when William Wagner pioneered small-boat manual hydraulics, the definition of "small-boat" has become more flexible. Once common only on working boats or large yachts, systems are now designed and built specifically for boats as small as 5 metres. My research over these past days has been an eye-opener; it would certainly seem that there's a business opportunity in this market.
I will apologise in advance for the rough nature of this answer. In all too many cases (to paraphrase the Chinese proverb) I've not so much "given you a fish", or even "taught you to fish", as much as "pointed you to the fishing hole". Unfortunately, as I'd indicated in my initial clarification request, solid numbers are hard to come by. Still I believe I've located sources that can provide you with better data, which in itself is a good thing.
Let's begin by arriving at a useable definition of the "global market". Since the lack of hard statistics is recognized and deplored even within the boating industry, I've had a long and serious look for some worthwhile numbers to work from. Fortunately, late in my search, I turned up the website of the International Boating Industry News.
The IBI News has, on its website, a list of 20 "Key Markets", together with the approximate numbers of recreational boats for each country. These numbers are not quite "apples to apples", as different countries use different criteria (Canada's, for example, includes canoes) but they should be reasonably accurate. The top five countries (US, Canada, France, Sweden, and Italy) report an aggregate total of 28.5 million recreational boats between them, with the US holding the lion's share at 17 million. The remaining fifteen countries report just under 4.4 million pleasurecraft. This would place US marketshare at just over 50% of the "Key Markets", which in turn should represent the bulk of the world market. Allowing for those regions not represented in the "Key Market" analysis, US marketshare probably represents just under half of the world market. The complete "Key Market Facts" page is found here: http://www.ibinews.com/ibinews/key_mkt_facts/index.htm
This is not intended to be comprehensive of course. There is no mention at all of Asia in the list, for example. Further, the list is based on "boats owned", rather than "boats sold". However, it is logical to assume that the countries where the most boats are owned, are the countries where the most boats are sold, in roughly similar proportion. Obviously individual markets will vary from year to year, but this assumption should be reasonably reliable.
As for "recreational boats", since this is a fairly flexible term, I've focussed the majority of my attention on powered boats of 15-20m (roughly 50-60 feet) and under. I've also looked at some sites geared more toward sailing boats or larger yachts, but the following information is targeted to the former.
1. Who are the manufacturers of hydraulic steering systems for boats and what are their global market shares?
I have not yet come across any comprehensive lists of manufacturers, but to judge from what I've found, these are the major players in the hydraulic steering market.
Any survey of the market will quickly determine that Teleflex is the dominant player in this arena. Their Canadian site claims 85% marketshare in North America for their SeaStar and Capilano brands. Recently they've acquired Morse and Hynautic, thereby emphasizing their commitment to market dominance. On this page, they describe acquisitions as a key part of their strategy. It must be working; they claim consistent 20% growth for the last quarter-century and I've seen nothing online to contradict this. They're everywhere! http://www.teleflexcanada.com/COMPANY/theCoF2.html
Main Teleflex Morse website:
http://www.tfxmarine.com/
A summary and partial breakdown of Teleflex's 2001 earnings may be found at this page, on IBI: http://www.ybw.com/ibinews/newsdesk/20020114103603ibinews.html
More detailed information may be found in Teleflex's 2001 Annual Report. Their marine unit is included in the "Commercial" category, which accounted for 41% of total revenues. The numbers you'd be interested in are on page 24. http://ccbn3.mobular.net/ccbn/7/39/42/
Vetus den Ouden is a Dutch-based company with over 35 years in the field. They sell a wide range of other gear as well as hydraulic systems. Founder Willem den Ouden recently sold 75% of the company to investment firm Alpinvest Holdings, as a strategy to fund future growth. He retains 25% of the company. Interestingly, this report at IBI news http://www.ybw.com/ibinews/newsdesk/20011014081519ibinews.html indicates that they are now subcontracting their manufacturing. The company's main site is at: www.vetus.com
IBI's overview of the boating industry in the Netherlands estimates Vetus' annual turnover at 50 million Euros (note that this is for all product lines): http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_netherlands.htm
Kobelt Manufacturing Ltd. is based in the Greater Vancouver area (British Columbia). They have been in the business since 1962, and seem to emphasize a higher-than-usual level of craftsmanship in their product. Their approach is to offer bronze and stainless steel components at a price only moderately above competitive products made of less-durable materials. http://www.kobelt.com/
I have been unable to source any sales figures for Kobelt, but Industry Canada lists them in the $5-$10M CDN range (click on "complete profile"): http://strategis.ic.gc.ca/cgi-bin/allsites/search/basic/viewhits?lang=e&file=H225649_2
Hydrive is an Australian manufacturer, with a wide range of small-boat manual and power hydraulic steering systems. Their range places them squarely in competition with Teleflex's "Baystar" and "Seastar" lines, focussing on craft from 5-15metres. The discussion of space constraints in the "Outboards and Sterndrives" section of their site is especially interesting for anyone wishing to enter the small-craft market. I have been unable to locate financial data for them, but perhaps one of my Australian colleagues could provide some guidance? http://www.hydrive.com.au/
Marine Machine is a specialized builder of hydraulic steering systems for racing and performance boats. http://www.marinemachine.com/
Italian manufacturer Ultraflex has a full line of mechanical and hydraulic systems. Their American division, UflexUSA, dedicates a page of its website to their Performax line of hydraulic steering products: http://www.uflexusa.com/prod02.htm
IMCO Marine is a family-owned business based in Nevada. They have been manufacturing a range of products for twenty years. Their hydraulic steering products are found on this website: http://www.imcomarine.com/stern/
Wagner brand hydraulic steering systems are produced and sold by Summer Equipment Ltd. of Vancouver, BC. They do not appear to be active in the recreational boat market. Summer's Wagner Steering website is at: http://www.wagnersteering.com/index.html#About
Industry Canada places them in the $1-5M CDN category:
http://strategis.ic.gc.ca/cgi-bin/allsites/search/basic/viewhits?lang=e&file=H225649_2
Two other companies seem to have inherited portions of the Wagner legacy. They appear, from their sites, to focus more on large yachts and small to mid-sized commercial vessels, but I include them for the sake of thoroughness. AutoNav, successors to Wagner, are headed by William Wagner's son Paul: http://www.autonav.com/index.htm
Industry Canada's short report on AutoNav places them in the $5-10M CDN sales category: http://strategis.ic.gc.ca/cgi-bin/sc_coinf/ccc/cccsrch
The principals of Jastram Engineering, in North Vancouver, Canada, were all previously in responsible positions at Wagner. Jastram also retrofits and rebuilds hydraulic steering systems. http://www.jastram.ca/
Industry Canada places Jastram in the $1-5M CDN range:
http://strategis.ic.gc.ca/cgi-bin/allsites/search/basic/viewhits?lang=e&file=H225649_2
Marol Hydraulics apparently manufactures steering systems for boats "up to 100 feet", though they proved to have no visible footprint online. I suspect that, like AutoNav and Jastram, their product line is aimed mainly at large yachts and smaller commercial vessels. You should be able to obtain information from their North American distributor: Alaska Diesel Electric, 4420 14th Avenue N.W., P.O. Box 70543, Seattle, WA 98107 Tel: 206-789-3880 Fax: 206-782-5455
As of this time, I have been unable to verify the existence of any other manufacturers. I am convinced that there must be more, but they have eluded me to date. It seems unlikely, for example, that there should be NO manufacturers of this product in Asia. I suspect that any further manufacturers either have minimal web presence (or perhaps a non-English web presence) or are purely regional players.
As regards market size, Teleflex's annual report, will give you a notion of the revenues their marine division generated. Extrapolating from their sales should give you a reasonable benchmark of total US sales, which in turn could be assumed as 40-50% of the worldwide market. This is tenuous, and perhaps IBI or SSI (see below) may be able to provide you with a more closely-reasoned estimate, but it is the best I can offer after researching the question intensively.
As for market share, revenue for Teleflex and Vetus is a matter of public record, and may readily be compared. Although I am not familiar with the nomenclature of Italian businesses, my impression is that Ultraflex is a publicly-traded company, and their annual report should be readily available. As indicated above, Industry Canada has categorized the Canadian builders by total revenues. This is necessarily a rough comparison, but it seems to be the best available information for now.
2. How many hydraulic steering systems are sold on new boats in the world per year? How many hydraulic steering systems are sold in the marine aftermarket in the world per year?
The methodology spelled out in the following section will also give you a rough "head count" on US sales of boats with hydraulic steering. Aftermarket steering upgrades, however, may be the toughest "hard number" to find. The two local dealers who were willing to offer me a "guesstimate" placed the ratio at roughly 10 new boats for every retrofit, but this is not a statistically viable sample by any stretch.
E-mailing or phoning a few of the larger dealers should broaden the sample enough to answer your purpose. Had I thought through this part of your question a little sooner (he confesses sheepishly) I'd have done a broad-based e-mail to numerous dealers. However, given the limited shelf life of a question at Google Answers, and the delays inherent in waiting for replies, this is probably best done from your end.
It would probably be good to try a few dealers specializing in primarily in retrofits/upgrades (rather than boat sales), as they might also have some suggestions for you that could be incorporated into product design. A word of caution: you may want to deliberately choose dealers who install more than one brand of steering. A dealer with a single loyalty is probably more likely to offer a "heads-up" to the manufacturer of the product he sells.
3)What boat companies are the biggest users of hydraulic steering systems? How many boats per year do these companies sell?
Sales figures for boatbuilders are not easy to come by online, either. However, I have learned through a citing in an academic paper that Statistical Surveys Inc. of Cincinnati, Ohio, tracks new boat sales for the US industry. A Google search on that name yields several references in boating and RV publications, but no contact information. They remained stubbornly invisible to on-line phone directory searches, as well. I suspect that the NMMA must have contact information for SSI, since their own official stats packages make heavy reference to that company's research. If all else fails, perhaps your nearest library would have a Cincinnati directory.
Other potential sources of hard data are the IBI News, and Boats.com. IBI has full versions of the country reports I've linked to from this page, with fuller data, available for sale. They also offer more deeply detailed "Market Surveys". Currently available surveys treat the French, Italian, and German markets, with more to come: http://www.ibinews.com/ibinews/mkt_info/market_surveys.htm
Boats.com is endorsed by the NMMA and the MRAA, and is intended to be the definitive online resource of the boating industry. At present, 80% of North American boatbuilders are represented on this site. A contact person is provided at the bottom of this page: http://www.boats.com/press/pr.jsp?fn=pr020418_1.jsp
In order to establish a rough working baseline of which US companies sell the most boats, while you are waiting for reports from the above sources, you may wish to return to the Boats.com site. Their "Top 20" lists give a running history for the last year of the site's most-searched-on brands in four categories: Powered new, powered pre-owned, sail new, and sail pre-owned. Of course this does not necessarily translate into sales (lots of people look at Lamborghini’s, relatively few buy them), but it should be a reasonably good guide. The archive of "Top 20" lists, and other press releases, may be found at this link: http://www.boats.com/press/press.jsp
Having settled on the top builders, there is a tedious but obvious methodology for determining their reliance on hydraulic steering: 1) Order their brochures, or visit their websites, and trudge through the listed models. 2) Check model-by-model for hydraulic steering as a standard feature. You may wish to follow the traditional route of hiring a student to do this.
An obvious flaw in this method is that it will not reveal how often hydraulic steering is purchased as an upgrade. For that information, I'd suggest an alternative approach: contact the boatbuilders directly. After all, you're not going to be competing with them! You may also make some useful contacts in the process, for when you bring your product to market.
Another point worthy of your attention is specific market niches that might be heavier users of hydraulic steering. Waterskiing, for example, requires both a powerful (high-torque) engine and long, straight runs. Bass boats, also, are typically run at high speeds for extended periods. These niches may yield good markets for you, even if those specialty manufacturers do not show among the top 10/20/50 overall. An academic paper containing recent SSI sales figures for the top builders of waterski boats may be found at this link: http://www.cba.ua.edu/~astrickl/ElanSkiboat-12-17.doc
The subject of this paper, by the way, seems like a real up-and-comer; you may want to partner with them!
4. What is the threshold between hydraulic steering and cable steering (i.e. Do boats usually have hydraulic rather than cable because they
are longer, heavier, faster, what?) And at what measurement would the
threshold be? (i.e. I would need an answer such as "speed determines
the steering system and any boat that goes over 40 mph would use
hydraulics")
The "breakpoint" between mechanical and hydraulic steering is not quite as hard and fast as it might once have been. There is general consensus that the faster and more powerful your boat is, the more you need it, but various sources differ on specifics.
This article at marinenews.com recommends going hydraulic after 5m (!) or 100 horsepower. The author retrofitted a Teleflex SeaStar unit to his own boat: http://www.marinews.com/boating/btn-articles/btn_steeringeasy.html
Another article, though, notes that newer and less expensive units have brought the hydraulic option to boats of less than 6m: http://www.marinews.com/boating/btn-articles/ba_hydrive.htm
This page, from a dealer of mechanical and hydraulic steering systems, offers a useful discussion of the issues involved: http://www.westmarine.com/webapp/commerce/command/ExecMacro/west_advisor.d2w/show_advisor?fn=286.htm&store_num=6
Ultraflex's website offers a useful chart for prospective customers. In their scheme of things, hydraulic steering is recommended for outboards over 30', and inboards or sterndrives over 35': http://www.ultraflexgroup.it/ut/ultraflex/ultraflex.html
Raw speed is not a conclusive factor. Many fast bass boats use mechanical steering, with hydraulic steering as an upgrade. Baja Marine, who specialize in hot boats at hot prices, use mechanical power steering on most of their models, in order to meet their price points (more on the price issue later). Hydraulic steering is standard only on the outboard versions of their Islander models, single or dual outboards totalling 225-300hp. Evidently, outboards are more difficult to control than inboards of comparable power. http://www.bajamarine.com/models/model_specs.asp?ser=6&mod=250+Islander+Outboard
Having settled on hydraulic steering, the next step is to calculate which system is suitable for one's boat. Manufacturers seem to offer complete DIY kits and also individual components for custom systems. For a useful discussion on the ins and outs of hydraulic steering "a la carte", see this page at the Vetus den Ouden site (this is marginal to our topic, but it may help you in planning your own product line): http://www.vetus.com/products/hydr_steer/hydraulic_steering-correct.htm
To summarize, hydraulic steering is "more desirable" on boats of 30-35ft and up, or in power configurations in the 100-150hp range and above. More and more, though, hydraulic steering is seen as a desirable upgrade on smaller or less-powerful boats as well, simply as a matter of comfort and convenience. Certainly though, the larger and more expensive a boat is, the more likely it will be to have hydraulic steering as standard equipment.
5. At what price range of boats does hydraulic steering become a
"standard" feature?
As mentioned in question (4) above, price is a reasonably reliable predictor of hydraulic steering, within a given class of boat. Bear in mind, however, that a "high-end" price tag in one class will be "entry-level" in another. Also, companies target different demographics and market niches. Baja Marine, for example (see above), price their craft very aggressively. Want a 20-footer under $25K that'll do 60mph? They've got your boat!...but it won't have hydraulic steering, because of their marketing focus on price points.
To give you something to go forward with, I've looked at the Tracker and Bayliner lines, which have been consistently at or near the top of Boats.com's "Top 20" lists. The results were interesting, but you'll want to repeat the process with a LOT of brands, to get useable numbers.
Tracker offers standard hydraulic steering only on their top-of-the-line Deep V model, the Targa 2000, at $24995 (the entry model in this line is priced at $5495). Tracker also sells the Nitro brand of bass boats, which they claim is the sales leader. Nitro's standard line of bass boats ($10595 to $22595) does not include hydraulic steering, but their flagship "9" series ($24995 to $32995) does. Within their SunTracker line of pontoon boats (starting at $8695) the Party Cruiser 32 ($25695) and Party Hut 30 ($20895) included "hydraulic-assisted" steering. Interestingly, not all of the $20K+ SunTrackers include this feature. All prices from Tracker's site, in USD. http://www.trackermarine.com/
Pickings were slimmer in the Bayliner brand. None of their Capri runabouts, Ciera cruisers, or Rendezvous deckboats offered standard hydraulic steering. Only their Motoryacht line includes hydraulic steering, rather predictable given that they start at significantly over $100,000. However, things get more interesting when we consider Bayliner's "Trophy" brand of fishing boats. When equipped with an outboard of 200hp or more, three Trophy boats include standard hydraulic steering: the Centre Console 2103 ($33043); and Walkaround models 2302 ($36927) and 2509 ($41524). These prices are from Bayliner's site, and represent the lowest base price in each case for a craft with a 200hp outboard. This would suggest that Bayliner targets a more upscale clientele. http://www.baylinerboats.com/Bayliner-Home.html
The above confirmed the information given to me by a local dealer, who'd said that while some boats came in at lower price points, hydraulic steering started to be common at around $50K CDN, which equates pretty closely to $35K USD.
Again, generating similar numbers from a larger sample of manufacturers will require a week or two of drudge work on someone's part. Boat manufacturers have not been immune to the craze for Flash animation, so some of the sites I've visited have been maddeningly slow (pretty, though!). Before embarking on that particular quest it will be useful to decide whether you want to work with "street" (dealer) pricing, or MSRP.
Conclusion:
It seems there's a definite business opportunity in this market.
On the one hand, Teleflex's ongoing acquisition of rivals creates an opportunity to cash in on the inevitable backlash (Microsoft, anyone?). Secondly, with the arrival of hydraulic steering in the entry-level market, it would seem that this product is due for the sort of boom that marked GPS, cel phones, and DVD players (to pick a few) as they became more affordable. I make these comparisons advisedly, because as a longtime electronics retailer I watched those products mature. My former employer test-marketed one model of GPS, for example, a few years ago at $799CDN. It bombed. Now they sell numerous models starting in the low $100 range, and sales are brisk.
In terms of new-boat sales, the action seems to be in the middle and upper size/price ranges. As a retrofit, if you are able to bring a suitable product to market, an inexpensive upgrade for existing smaller boats might be a good bet. If nothing else, it's a market that's new enough not to have been penetrated extensively by the current players.
One final word, redundant though it may be... As a former retailer, I can tell you that in any field I know of, dealers appreciate products and companies that don't give them grief. Make a good product, for sure, but for best results pay special attention to your relations with your distributors and dealers. To paraphrase W P Kinsella, "make it easy to fix problems, and they will come".
IBI Country Reports: Online Abstracts for the "Big Five"
US
http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_usa.htm
Canada
http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_canada.htm
France
http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_france.htm
Sweden
http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_sweden.htm
Italy
http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_italy.htm
Search strategy:
After doing this for a week, it feels like it might be easier to just list the keywords I DIDN'T search on!
I've made extensive use of Google searches, of course, and the following keywords proved most useful (not all at once, of course, and in varying combinations):
"hydraulic steering" marine manufacturer boat boats boatbuilder sales "sales figures" "quarterly report" "annual report" distributor “recreational boating” publication authoritative “pleasure craft”
As I worked, of course, I would frequently stumble across a useful reference, which would lead to new searches under the names of individual companies.
I made heavy use of the websites of IBI News, Boats.com, and the various manufacturers. Industry Canada’s “Strategis” website was something I’d already known about, so I pounded away at various keywords until I found the correct information. I also used Google Directory, DMOZ, and other industry-specific directories. I have not listed the industry directories separately, as they will come up in vast numbers as you search on those keywords. In any case, they bred more frustration than useable data.
I have proofread this answer until my eyes were red and bloodshot, and I THINK I put in everything I’d intended to. If I’d inadvertently referred to something that’s not here, please let me know. Likewise, in every situation where I was not able to provide information, I have attempted to supply at least a reasonable source or workable methodology for obtaining a good approximation. If I’ve left anything unclear in doing so, again, please let me know.
You will probably need some time to digest and follow up on this material. If you find that I’ve opened up some new areas of interest for you (I hope I have), we would love to see you come back with some more questions. Of course, I’ll be keeping my notes in order to have a leg up on my colleagues!
Thank you again for an interesting and challenging assignment!
-Chromedome
A common frustration for GA researchers is to spend hours digging up information, only to be told at the end, by the asker, that "I already found all that."
Are there specific sites/information sources that you would like to explicitly EXCLUDE?
Boat cost is another variable. Builders making very economical boats tend to begin to use power steering at slightly higher horsepower ranges than premium builders. Men may be happy muscling a boat around, but if they want their wife to drive while they and the kids ski all weekend, power steering they might also opt for power steering.
The American Boat & Yachting Council (ABYC) sits a number of standards in this industry http://www.abycinc.org
Seems like if you are estimating the potential market for a steering system, you might first define what type of drives it could be used on. Can this fit on outboards, stern drives, inboards, water jets, etc.? Even if it can be used on all drives types, it is highly probably that it lends itself to one type of drive more than the others. Which type is that? Will it be an aftermarket system, be installed by boat builders or be installed at factories producing marine drives? Are you talking about external power steering? In real life, most recreational boating frills (power steering on smaller high speed boats) are bound for the U.S. market or for luxury boats overseas. Your chances of selling power steering to some guy in the middle of nowhere that does not speak English with a 40 year old underpowered powerboat and no money are pretty minimal. There are overseas applications, but you might want to initally focus on the U.S.
I am not suggesting you post the answers to the questions above. But I am suggesting that if you arm yourself with the answers to those questions and examine marine drive production data. You might reach a much better estimate of market potential than trying to estimate worldwide boat production.
When using marine drive production data, you need to remove those used for repowering.
Digger
I've been working on your question since yesterday, and I've gotten together perhaps 40-50% of your answer. Good thing I have a personal interest! I come from a long line of fishermen and boat builders, so (even though I didn't follow in that tradition) your question rang a chord for me.
The toughest part to gather up is hard figures. For example, (to address just one aspect of your question) if you search previous questions here, using "marketshare" as your keyword, you will find that for most industries we've researched, firm numbers have been unavailable. Or, as often, available only in the form of a pricey report. So, my question is:
What data is acceptable to you? Companies' own figures? Trade publications, insofar as I can source them? Or would you require something on the order of a manufacturer's association? If a for-pay report exists (they typically cost hundreds or even thousands) do you need purchase information?
Secondly, "global" information is proving rather stubborn. I may, however, be able to secure you a reasonable estimate by 1) determining the size of the North American market, and 2) cross-checking a few sources for estimates of the North American market as a percentage of the world market. Would this sort of "back door" approach be acceptable?
Looking forward to your response, a "gunwales awash in information"
-Chromedome
As far as the quality of the numbers, as long as you can tell me where you got the figures from, then that would be acceptable. Whether they be from manufacturers or trade associations or wherever. I just want some numbers that are more than just someone's guess or intuition. As far as figuring out the global numbers from a "backdoor" approach, that is fine also. Just let me know what assumptions you used to get to the answer and give some source or reasoning for these assumptions. If you can find a report that has the type of information I am looking for and it is available for a fee, please direct me to that also. My company is not adverse to paying for information even if it is costly. Thanks for your interest and I look forward to your answers!
When I first did those searches, I cut-and-pasted the URL's into my e-mail client and clicked them (a workaround in lieu of a "preview" button here onsite)and at that time, they worked. I would assume that they were cached for a period, and then dumped from the cache. I should have thought to check that again after a day or two, I guess. Gotta make a note of that for next time.
To access the information I'd cited, go to the main "Strategis" site, at http://strategis.ic.gc.ca/
Click the logo for English site, and you should find a "quick search" box front & centre on their page. The following keywords will bring you to each respective report:
Kobelt Manufacturing
Summer Equipment
Autonav
Jastram Engineering
In each case, the first listing to come up will be the report you're looking for.
Other documents that result from these searches may be of interest to you as well. Some of them deal with the individual companys' patents, for example.
Again, my apologies for the inconvenience.
-Chromedome
I just wanted to drop a quick word to let you know you've not been forgotten. I've been in "waiting for return e-mail/message/phone call limbo" for the past several days, so this has taken more time and effort than I'd originally projected.
I have acquired enough raw information now, though, to be confident of a reasonable answer. I'll be spending the remainder of my weekend on the "distillation" process, turning it into a page or two of useable information. Unless someone weighs in at the last minute with some extra information, necessitating a re-write, I anticipate having a finished answer for you late on Monday.
Thank you for your patience!
-Chromedome
You'd mentioned in a clarification of your question that you'd been to the NMMA site, and looked at the statistics, but found them unhelpful given the lack of context.
As an afterthought, I've returned to the NMMA's "Facts and figures" page, and retrieved a few statistics to place in the context of my answer above.
Estimates of Outboard Boat Sales by Length and Type
http://www.nmma.org/facts/boatingstats/2001/files/boatsales.asp?bhcp=1
This chart breaks down the sales of outboard-powered boats by lenght and type. Looking at the largest product segments, "utility boats" at 22% of the market may be largely dismissed, for your purposes. These are primarily smaller, lower-powered boats.
"Bass Boats" and "Other Fishing Boats", at a combined total of 34.5% of the market, are more promising. In the appropriate power/size/price niches within that broad category, hydraulic steering is a valued feature. Additionally, anglers tend to be gregarious and competitive, so a successful launch in that market might yield a good return in "word of mouth".
Pontoon boats, at 17.7%, may again be safely ignored for your purposes. These are essentially nothing more than floating patios, build to party on. "Centre Consoles" and "Walkarounds", at a combined 15%, tended (my subjective impression) to be pricier, better-appointed boats, and so may also be worth directing extra attention to.
As for length, craft 21' and over (your best candidates for hydraulic steering) account for 28% of fiberglass boats, and 16% of aluminum. With regard to aluminum, bear in mind that many high-end bass boats (a legitimate target market) will be in the 18'-21' range, which includes another 23% of total aluminum boats sold, making a total of 39%.
Outboard Motor Sales by Horsepower
http://www.nmma.org/facts/boatingstats/2001/files/motorsales.asp?bhcp=1
In the year 2001, sales of outboards in the 200+ hp range (your best market) were 11.7% of all outboard motor sales. This top category has shown steady growth since 1997. Outboards in the 100-200hp range (also good candidates for hydraulic steering) accounted for another 20.3% of the total market, for a combined total of 32% of all outboard motor sales. Note that outboards in the 100-150hp range, while less demanding of hydraulic steering as single units, are frequently paired up on larger boats.
Estimates of Sterndrive Boat Sales Hull Material
http://www.nmma.org/facts/boatingstats/2001/files/hullmaterial.asp
Turning now to sterndrives, we find that "Runabouts" are far and away the largest category, with bowriders and cuddies accounting for a combined 71.6%. These will cover a wide range of styles and prices, of course, and not all will be suitable for your product. "Express cruisers", at 12.7%, and "Deck Boats", at 6.5%, are also worth a look. Again, there will be variance, but these will tend to be costlier, better-appointed craft.
Breaking down the total sales numbers for outboards and sterndrives by category will give you a fair grasp of the respective markets you are addressing.
Challenges and Opportunities
http://www.nmma.org/facts/boatingstats/challenges/index.asp?bhcp=1
Boatbuilders and dealers are facing many challenges in the marketplace. One that comes up repeatedly is cost, naturally enough. In marketing to boatbuilders and dealers, you need to be aware of this. A point you may wish to emphasize in your marketing is made in this article, cited in my answer above: http://www.marinews.com/boating/btn-articles/btn_steeringeasy.html
As the author points out, cable-based systems, unless maintained punctiliously, may require frequent springtime service and even cable replacements. This touches on the two "hot buttons" cited in this report: http://www.nmma.org/facts/boatingstats/challenges/qnty.asp?bhcp=1
Harping on that point will also draw help draw the teeth of the "purchase price" concern: http://www.nmma.org/facts/boatingstats/challenges/cost.asp?bhcp=1
Hopefully, this extra information will be of use to you.
-Chromedome
http://www.nsga.org/public/pages/index.cfm?pageid=556
This gives unit sales for 2002 Q1 for the US market, broken out by boat type. It also shows shipments by manufacturers (again by type, rather than by manufacturer, unfortunately)in a second set of numbers. These numbers were, again, obtained from Statistical Surveys Inc.
I hope this helps you with your project!
#If you have any other info about this subject , Please add it free.# |