Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Masts Market by Type (Aluminum, Iron, Wooden, Fiberglass, Other), By Application (Passenger Vessels, Merchant Vessels, Offshore Vessels, Naval Vessels) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Masts Market by Type (Aluminum, Iron, Wooden, Fiberglass, Other), By Application (Passenger Vessels, Merchant Vessels, Offshore Vessels, Naval Vessels) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 155121 3300 Machinery & Equipment 377 238 Pages 4.8 (40)

Market Overview:

The global mast market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for passenger vessels, merchant vessels, offshore vessels, and naval vessels across the globe. Furthermore, the increasing adoption of fiberglass masts in the marine industry is also contributing to the growth of this market. However, factors such as high installation and replacement costs are restraining the growth of this market. The aluminum mast segment is projected to grow at a CAGR of 5.8% from 2018 to 2030 due its low weight and corrosion resistance properties compared with other types of masts available in the market.

Global Masts Industry Outlook

Product Definition:

A mast is a tall structure on a ship or boat used to support sails, rigging, and communications antennas.


Aluminum is a metal and has the chemical symbol Al. It is silvery in color, soft, ductile & lightweight and can be easily recycled. It has the highest heat dissipation factor among all metals. Due to its light weight it dominates other materials like steel & iron in weight proportion for same size mast section. Aluminum masts are used on account of their lightweight properties which helps to reduce fuel consumption by 10% - 15%.


Iron is a metal and it's main group is called as IIA. It has two forms which are ferrous iron and steel. Ferrous means that have been strongly influenced by the element of iron; for instance, steel contains around 2% to 3% of iron. Steel can be hardened by heating it to high temperature which is then cooled gradually so that the steel remains hard throughout its whole structure; this process is known as annealing or heat treating.

Application Insights:

Passenger vessels were the largest application segment in 2015 and accounted for a revenue share of more than 60.0% in 2017. The growth of this segment is attributed to increasing demand from cruise liners, ferries, coastal passenger ships and others.

The use of masts as a platform for advertising or branding is one of the most popular methods used by various companies to generate revenue during leisure hours on board cruise ships or ferries. This has led to an increased number of such vessels being constructed over the past few years which would otherwise not have been feasible due to high production costs involved in their construction.

Merchant vessel was another significant application segment accounting for 23% market share by volume in 2015 and expected to grow at CAGR around 4% from 2016-2030 owing to growing trade between countries & regions such as Africa, Asia Pacific, South America etc.

Regional Analysis:

Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 60% of the overall industry in terms of revenue owing to high product demand from countries such as China, India, Japan, South Korea and Australia. In addition, increasing offshore drilling activities coupled with rising oil & gas exploration activities are projected to drive regional growth over the coming years.

The European market was valued at USD X million in 2017 and is anticipated to witness significant growth during the forecast period on account of growing maritime trade between Europe and Asia Pacific countries such as China, India Japan Indonesia etc.

Growth Factors:

  • Increasing demand for mobile data services: The increasing demand for mobile data services is one of the major growth drivers for the global mast market. This is because the deployment of mast infrastructure is essential to support high-speed mobile broadband networks.
  • Proliferation of 4G and 5G networks: The proliferation of 4G and 5G networks is another key factor that is expected to drive the growth of the global mast market in the coming years. This is because these advanced network technologies require robust and reliable infrastructure, which can be provided by masts.
  • Rising number of tower sharing agreements: The rising number of tower sharing agreements between telecom operators has led to an increase in demand for masts globally. This is because when two or more telecom operators share a single mast, it reduces costs and improves efficiency.

Scope Of The Report

Report Attributes

Report Details

Report Title

Masts Market Research Report

By Type

Aluminum, Iron, Wooden, Fiberglass, Other

By Application

Passenger Vessels, Merchant Vessels, Offshore Vessels, Naval Vessels

By Companies

Z-Spars, Axxon Composites, AG+SPARS, Heol Composites, Pauger Carbon, Seldén Mast, Sparcraft R.D.M, Southern Spars, Offshore Spars, C-Tech, Hall Spars & rigging, Brasker Masten, Formula Yacht Spars, Nemo Industrie, Reckmann, John Mast, Rondal, Yachttech, CST Composites, Forespar

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Masts Market Report Segments:

The global Masts market is segmented on the basis of:


Aluminum, Iron, Wooden, Fiberglass, Other

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.


Passenger Vessels, Merchant Vessels, Offshore Vessels, Naval Vessels

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:

  1. Z-Spars
  2. Axxon Composites
  4. Heol Composites
  5. Pauger Carbon
  6. Seldén Mast
  7. Sparcraft R.D.M
  8. Southern Spars
  9. Offshore Spars
  10. C-Tech
  11. Hall Spars & rigging
  12. Brasker Masten
  13. Formula Yacht Spars
  14. Nemo Industrie
  15. Reckmann
  16. John Mast
  17. Rondal
  18. Yachttech
  19. CST Composites
  20. Forespar

Global Masts Market Overview

Highlights of The Masts Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Aluminum
    2. Iron
    3. Wooden
    4. Fiberglass
    5. Other
  1. By Application:

    1. Passenger Vessels
    2. Merchant Vessels
    3. Offshore Vessels
    4. Naval Vessels
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Masts 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
  • Market Entry Strategies
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  • Consumer Insights
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  • Product & Brand Management
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Global Masts Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Masts are the tall, thin poles at the top of a ship or boat. They provide support for sails and other equipment.

Some of the major players in the masts market are Z-Spars, Axxon Composites, AG+SPARS, Heol Composites, Pauger Carbon, SeldƒÂ©n Mast, Sparcraft R.D.M, Southern Spars, Offshore Spars, C-Tech, Hall Spars & rigging, Brasker Masten, Formula Yacht Spars, Nemo Industrie, Reckmann, John Mast, Rondal, Yachttech, CST Composites, Forespar.

The masts market is expected to register a CAGR of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Masts Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Masts Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Masts Market - Supply Chain
   4.5. Global Masts Market Forecast
      4.5.1. Masts Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Masts Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Masts Market Absolute $ Opportunity

5. Global Masts Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Masts Market Size and Volume Forecast by Type
      5.3.1. Aluminum
      5.3.2. Iron
      5.3.3. Wooden
      5.3.4. Fiberglass
      5.3.5. Other
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Masts Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Masts Market Size and Volume Forecast by Application
      6.3.1. Passenger Vessels
      6.3.2. Merchant Vessels
      6.3.3. Offshore Vessels
      6.3.4. Naval Vessels
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Masts Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Masts Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Masts Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Masts Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Masts Demand Share Forecast, 2019-2026

9. North America Masts Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Masts Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Masts Market Size and Volume Forecast by Application
      9.4.1. Passenger Vessels
      9.4.2. Merchant Vessels
      9.4.3. Offshore Vessels
      9.4.4. Naval Vessels
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Masts Market Size and Volume Forecast by Type
      9.7.1. Aluminum
      9.7.2. Iron
      9.7.3. Wooden
      9.7.4. Fiberglass
      9.7.5. Other
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Masts Demand Share Forecast, 2019-2026

10. Latin America Masts Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Masts Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Masts Market Size and Volume Forecast by Application
      10.4.1. Passenger Vessels
      10.4.2. Merchant Vessels
      10.4.3. Offshore Vessels
      10.4.4. Naval Vessels
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Masts Market Size and Volume Forecast by Type
      10.7.1. Aluminum
      10.7.2. Iron
      10.7.3. Wooden
      10.7.4. Fiberglass
      10.7.5. Other
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Masts Demand Share Forecast, 2019-2026

11. Europe Masts Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Masts Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Masts Market Size and Volume Forecast by Application
      11.4.1. Passenger Vessels
      11.4.2. Merchant Vessels
      11.4.3. Offshore Vessels
      11.4.4. Naval Vessels
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Masts Market Size and Volume Forecast by Type
      11.7.1. Aluminum
      11.7.2. Iron
      11.7.3. Wooden
      11.7.4. Fiberglass
      11.7.5. Other
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Masts Demand Share, 2019-2026

12. Asia Pacific Masts Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Masts Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Masts Market Size and Volume Forecast by Application
      12.4.1. Passenger Vessels
      12.4.2. Merchant Vessels
      12.4.3. Offshore Vessels
      12.4.4. Naval Vessels
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Masts Market Size and Volume Forecast by Type
      12.7.1. Aluminum
      12.7.2. Iron
      12.7.3. Wooden
      12.7.4. Fiberglass
      12.7.5. Other
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Masts Demand Share, 2019-2026

13. Middle East & Africa Masts Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Masts Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Masts Market Size and Volume Forecast by Application
      13.4.1. Passenger Vessels
      13.4.2. Merchant Vessels
      13.4.3. Offshore Vessels
      13.4.4. Naval Vessels
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Masts Market Size and Volume Forecast by Type
      13.7.1. Aluminum
      13.7.2. Iron
      13.7.3. Wooden
      13.7.4. Fiberglass
      13.7.5. Other
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Masts Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Masts Market: Market Share Analysis
   14.2. Masts Distributors and Customers
   14.3. Masts Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Z-Spars Overview Financials Developments Strategic Outlook
      14.4.2. Axxon Composites Overview Financials Developments Strategic Outlook
      14.4.3. AG+SPARS Overview Financials Developments Strategic Outlook
      14.4.4. Heol Composites Overview Financials Developments Strategic Outlook
      14.4.5. Pauger Carbon Overview Financials Developments Strategic Outlook
      14.4.6. Seldén Mast Overview Financials Developments Strategic Outlook
      14.4.7. Sparcraft R.D.M Overview Financials Developments Strategic Outlook
      14.4.8. Southern Spars Overview Financials Developments Strategic Outlook
      14.4.9. Offshore Spars Overview Financials Developments Strategic Outlook
      14.4.10. C-Tech Overview Financials Developments Strategic Outlook
      14.4.11. Hall Spars & rigging Overview Financials Developments Strategic Outlook
      14.4.12. Brasker Masten Overview Financials Developments Strategic Outlook
      14.4.13. Formula Yacht Spars Overview Financials Developments Strategic Outlook
      14.4.14. Nemo Industrie Overview Financials Developments Strategic Outlook
      14.4.15. Reckmann Overview Financials Developments Strategic Outlook
      14.4.16. John Mast Overview Financials Developments Strategic Outlook
      14.4.17. Rondal Overview Financials Developments Strategic Outlook
      14.4.18. Yachttech Overview Financials Developments Strategic Outlook
      14.4.19. CST Composites Overview Financials Developments Strategic Outlook
      14.4.20. Forespar Overview Financials Developments Strategic Outlook

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