Surface Water Sports Equipment Market - Comprehensive Evaluation of Regional Markets, Technology, Types and Applications | Future Industry Update
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Increasing interest in recreational activities such as water sports is offering business opportunities in coastal regions or cities having water bodies (such as lakes or rivers). This is expected to drive the market growth for surface water sports equipment over the forecast period. The water sports sector is highly labor intensive, which further creates various service opportunities. This in turn is expected to further enhance market growth prospects over the forecast period. Additionally, other factors such as technological advancements to improve the product structure and to enhance the performance of the equipment, and rising awareness about the importance of healthy routines is further projected to drive the surface water sports equipment market in the coming years. Increasing interest of customers in outdoor and water sports leisure activities with rising number of water sports enthusiasts is further anticipated to spur the market growth during the forecast period. Increasing disposable income has also encouraged customers to explore various outdoor activities such as mountaineering, surfing, snowboarding, and trekking. Surfing is undertaken by people of all age groups and has influenced the participation of female surfers across the world. This in turn has resulted in positive surface water sports equipment market growth. However, high degree of risk involved in surface water sports may hinder the market growth over the forecast period.
The global surface water sports equipment market can be segmented based on product, distribution channel, and region. Based on product, the surface water sports equipment market is categorized into paddle sports equipment, ski sports equipment, and board sports equipment. Further, paddle sports equipment segment includes stand-up paddle boarding, rafting, and kayaking canoeing equipment. Ski sports equipment segment is further categorized into PWC’s, telescoping paddle, protective gear, and other accessories. Paddle sports equipment segment is anticipated to account for major share in the market in terms of revenue over the forecast period. Increasing number of water sports enthusiasts and growing awareness about healthy lifestyles is expected to boost the market growth over the forecast period.
The distribution channel for surface water sports equipment market is bifurcated as sporting goods retailer, online retail, and departmental stores. Sporting goods retailer distribution channel is expected to contribute majorly to the surface water sports equipment market growth. Availability of large number of product options coupled with accessibility of popular brands of various equipment is further projected to boost the growth of the segment.
Based on region, the surface water sports equipment market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The surface water sports equipment market in North America is expected to account for major share during the forecast period. Rising interest of people in active outdoor recreational activity is anticipated to fuel the market growth. Furthermore, various championships have encouraged customers to increase their participation and enhance the popularity of the sport, leading to growth of tourism in various regions such as Middle East & Africa and Asia Pacific.
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Prominent players operating in the global surface water sports equipment market are Imagine Paddle Surf, AIRE, Naish International, Rave Sports, O'Brien, BIC Sport, Aqua Marina, Belassi, BomBoard, Starboard, Solstice Sports, Surftech, Airhead SUP Accessories, Wing Inflatables and Vanguard Inflatables.
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