Touring SUP Market: Size, Growth Analysis, Opportunities, Business Outlook, Competitive Landscape and Forecast By 2020-2027
Surfing is observed as the fastest growing water sport from past few years and is significantly driving the global demand for touring SUP. Owing to modifications in design that has led to better applications of the product, touring SUP has become a global hit in the mainstream market. In alignment with constantly changing market dynamics, leading market players are incessantly offering diversification in products as well as channels of distribution to cater to demands of customers and ease supply of products. Rise in disposable income and growth in customer inclination toward board surfing propels growth of the transitional touring SUP market.
Growth in number of surfing activities has brought asurge in demand for touring stand-up paddle boards. Notable differences that makes SUPs a preferable option for customers is its compatibility to surf through water by making way with pointed edges and constant paddles. This brings excitement and a spirit of thrill among surfers that makes it a market highlight.
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The key market players profiled in the report include SUP ATX, Boardworks, Rave Sports Inc., EXOCETORIGINAL, BIC Sport, NRS, Tower Paddle Boards, Laird StandUp, SlingShot, C4 Waterman, Airhead, Naish Surfing, un Dolphin, RED Paddle, Coreban, F-one SUP, Clear Blue Hawaii, Sea Eagle, Hobie.
North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
COVID-19 Scenario Analysis:
Production shutdown scenario
Production and manufacturing operations for touring stand-up paddle boards have been ceased, owing to implications of COVID-19. This declined production rate, which, in turn, hampers the global revenue for the industry.
Decline in demand
COVID-19 has led to lockdown situations, which prevails across most regions. This, in turn, has prohibited external visits for surfing and similar outdoor recreational activities, which has led to decline in the market growth.
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Key Segments Covered:
• Solid SUP Boards
• Inflatable SUP Boards
• Consumer goods
• Surfing equipment industry
Key Benefits of the Report:
○ This study presents the analytical depiction of the global touring SUP industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global touring SUP market share.
○ The current market is quantitatively analyzed from 2020 to 2027 to highlight the global touring SUP market growth scenario.
○ Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
○ The report provides a detailed global touring SUP market analysis based on competitive intensity and how the competition will take shape in coming years.
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