Over and above the growth seen during the review period, the global market for water sports equipment is predicted to expand significantly at a single digit CAGR. The growing popularity of water sports, technological developments made by market participants, increased participation rates—especially among women—shifts in demography, among other things, are some of the main drivers that would encourage growth. Growth would be aided by the expansion of the markets for various sports equipment, particularly in the American and Asian Pacific areas. These markets include those for surfing, scuba diving, jet skiing, snorkelling, kiteboarding, canoeing, kayaking, rafting, and parasailing.
The construction of various water sports facilities around the world has been fuelled by rising consumer interest in outdoor leisure activities and increased participation among all age groups. In the upcoming years, it is anticipated that there will be a significant expansion in the market for water sports equipment and accessories due to the growing popularity of recreational water sports. The emergence of more and more innovative water sports equipment is a recent development that is expected to have a significant impact on market expansion throughout the course of the projected period. The numerous initiatives taken by different governments to encourage water sports and water tourism in their respective nations also aid in the market's expansion. Numerous countries have started programs to aid in the development of water sports facilities, which has fuelled the expansion of the market for water sports gear and accessories. . The restricted availability of water sports gear and accessories in developing regions is expected to restrain the growth of the market for water sports equipment. Although the market for gear and accessories for water activities is expanding, these products come with a number of potentially catastrophic risks. The COVID-19 rules of the government also had an impact on the market's growth.
Water Sports Equipment Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Aqua Lung International, BIC Sport, Billabong, Cabrinha, Dongguan Eyson Lifesaving Equipment, Johnson Outdoors, Naish International, O’NEILL, Quiksilver, SEA-DOO, Seavenger, Tabata Co. Ltd.
Global Water Sports Equipment Market Segmentation:
By Major Water Sports: Based on the Major Water Sports, Global Water Sports Equipment Market is segmented as; Canoeing and Kayaking, Jet Skiing, Kiteboarding, Rafting and Parasailing, Scuba Diving, Snorkelling, Surfing.
By Gender: Based on the Gender, Global Water Sports Equipment Market is segmented as; Female, Male.
By Age: Based on the Age, Global Water Sports Equipment Market is segmented as; Under 18 years, 18 – 30 years, 31 – 50 years, Above 50 years.
By Region: The Americas made up the largest portion. The lifestyle in this region, particularly in the US, includes activities with the water. The US is the country that contributes the most to the region's market revenue, followed by Canada, Brazil, Argentina, Mexico, and Colombia. Europe held the second-largest market share for water sports equipment worldwide. Europe is the second-largest revenue contributor to the global market for water sports equipment due to the abundance of water sports venues and outdoor sports lovers. One of the regions with the fastest growth is APAC. The smallest market share belonged to the Middle East and Africa.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.