Market Overview:
The global compasses market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for compasses in commercial outdoor use and professional use applications. Additionally, the growing popularity of adventure sports is also propelling the growth of the global compasses market. North America dominates the global compasses market, followed by Europe and Asia Pacific. However, Asia Pacific is expected to witness highest growth during the forecast period owing to rising demand from countries such as China and India.
Product Definition:
A compass is a navigational instrument that shows direction. It consists of a magnetized needle that points north and south, and a circular housing that protects the needle. The compass is important for navigation because it allows sailors to find their bearings even when they can't see the stars or landmarks.
Magnetic Compass:
Magnetic compass is a directional instrument, which helps in determining the direction to any destination. It consists of a magnetized needle, which points towards the Earth's magnetic field for finding directions. The needle of magnetic compass can be made of plastic or metal and it varies according to the type depending upon its applications.
The global market for Magnetic Compass is expected to witness significant growth over the forecast period owing to its varied usage in navigation.
Non-magnetic Compasses:
Non-magnetic compasses are used in compasses to overcome the magnetic effect for accurate readings. The magnetic effect is caused by the movement of iron particles within a magnetized environment, which can cause systematic errors in measurements. Non-magnetic compasses eliminate this problem by using an electric current that flows through the needle and produces an electromagnetic field around it, causing it to point towards true north with no variation.
Application Insights:
The commercial outdoor use segment led the global compass market and accounted for more than 60.0% share of the total revenue in 2017. The growth can be attributed to rising demand from end-use industries such as construction, automotive, mining and oil & gas. Increasing investments in infrastructure development across various regions are expected to augment product demand over the forecast period.
Professional use of compasses is expected to grow at a CAGR of XX% from 2018 to 2030 owing to increasing application scope in aviation industry including piloting aircrafts and ships at sea for safe navigation.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness a considerable growth rate of 4.6% over the forecast period, owing to increasing maritime activities and shipbuilding sector in the U.S., Canada, and Mexico. Moreover, growing offshore oil & gas exploration activities are projected to drive product demand further in this region over the next eight years.
Growth Factors:
- Increasing demand for navigation and positioning devices in automotive and aerospace industries
- Growing popularity of smartphones and other mobile devices with built-in compasses
- Proliferation of location-based services that use compass data to enhance user experience
- Advances in compass technology that improve accuracy and performance
- Increased awareness about the benefits of using compasses for outdoor activities
Scope Of The Report
Report Attributes
Report Details
Report Title
Compasses Market Research Report
By Type
Magnetic Compass, Non-magnetic Compasses
By Application
Commercial Outdoor Use, Professional Use
By Companies
Silva, Brunton, Ritchie Navigation, Kasper & Richter, SUUNTO, Northrop Grumman Sperry Marine B.V, TRU-NORD, MecArmy, Prometheus Design Werx, Cammenga, Bushnell Outdoor Products, Dalvey Limited, Sir Jack’s, SIRS Navigation, TOKYO KEIKI INC., IXBlue, Simrad (Navico), Gem Elettronica Srl, Yokogawa Denshikiki, Raytheon Anschütz, Teledyne, Maretron, Kongsberg
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
156
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Compasses Market Report Segments:
The global Compasses market is segmented on the basis of:
Types
Magnetic Compass, Non-magnetic Compasses
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Outdoor Use, Professional Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Silva
- Brunton
- Ritchie Navigation
- Kasper & Richter
- SUUNTO
- Northrop Grumman Sperry Marine B.V
- TRU-NORD
- MecArmy
- Prometheus Design Werx
- Cammenga
- Bushnell Outdoor Products
- Dalvey Limited
- Sir Jack’s
- SIRS Navigation
- TOKYO KEIKI INC.
- IXBlue
- Simrad (Navico)
- Gem Elettronica Srl
- Yokogawa Denshikiki
- Raytheon Anschütz
- Teledyne
- Maretron
- Kongsberg
Highlights of The Compasses Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Magnetic Compass
- Non-magnetic Compasses
- By Application:
- Commercial Outdoor Use
- Professional Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compasses Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Compasses are a navigational tool that help sailors and pilots find their way. They consist of a magnetic needle that points north and south, along with an orienting magnet.
Some of the major players in the compasses market are Silva, Brunton, Ritchie Navigation, Kasper & Richter, SUUNTO, Northrop Grumman Sperry Marine B.V, TRU-NORD, MecArmy, Prometheus Design Werx, Cammenga, Bushnell Outdoor Products, Dalvey Limited, Sir Jack’s, SIRS Navigation, TOKYO KEIKI INC., IXBlue, Simrad (Navico), Gem Elettronica Srl, Yokogawa Denshikiki, Raytheon Ansch¼tz, Teledyne, Maretron, Kongsberg.
The compasses market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Compasses Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Compasses Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Compasses Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Compasses Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Compasses Market Size & Forecast, 2020-2028
4.5.1 Compasses Market Size and Y-o-Y Growth
4.5.2 Compasses Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Magnetic Compass
5.2.2 Non-magnetic Compasses
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Outdoor Use
6.2.2 Professional Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Compasses Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Compasses Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Magnetic Compass
9.6.2 Non-magnetic Compasses
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Outdoor Use
9.10.2 Professional Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Magnetic Compass
10.6.2 Non-magnetic Compasses
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Outdoor Use
10.10.2 Professional Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Magnetic Compass
11.6.2 Non-magnetic Compasses
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Outdoor Use
11.10.2 Professional Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Magnetic Compass
12.6.2 Non-magnetic Compasses
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Outdoor Use
12.10.2 Professional Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Magnetic Compass
13.6.2 Non-magnetic Compasses
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Outdoor Use
13.10.2 Professional Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Compasses Market: Competitive Dashboard
14.2 Global Compasses Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Silva
14.3.2 Brunton
14.3.3 Ritchie Navigation
14.3.4 Kasper & Richter
14.3.5 SUUNTO
14.3.6 Northrop Grumman Sperry Marine B.V
14.3.7 TRU-NORD
14.3.8 MecArmy
14.3.9 Prometheus Design Werx
14.3.10 Cammenga
14.3.11 Bushnell Outdoor Products
14.3.12 Dalvey Limited
14.3.13 Sir Jack’s
14.3.14 SIRS Navigation
14.3.15 TOKYO KEIKI INC.
14.3.16 IXBlue
14.3.17 Simrad (Navico)
14.3.18 Gem Elettronica Srl
14.3.19 Yokogawa Denshikiki
14.3.20 Raytheon Anschütz
14.3.21 Teledyne
14.3.22 Maretron
14.3.23 Kongsberg
