Wakeboard Market Records Higher Digit CAGR Over Forecast Period 2018 To 2028

Declining participation in water sports activities continue to create challenges for wakeboard manufacturers. There has been a steady decline in water participation rates, as other appealing recreational activities have gained traction.

According to a research conducted by the Outdoor Industry Association, over 144 million Americans participated in various types of outdoor activities at least once in 2016. However, the young adult participation in wakeboarding activities declined from 617,000 in 2015 to 572,000 in 2016.

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The overall participation in water sports activities declined in the U.S. in 2016, and the scenario remains similar across the globe, which may impact the growth of the wakeboard market negatively.

Manufacturers are also experimenting with a variety of raw materials such as foam, wood core, and graphite to improve the durability and cost-efficiency of wakeboards.

Apart from the length and raw materials used to manufacture wakeboards, the properties of fins have a major influence on the purchasing decisions of consumers.

According to the water conditions and types of wakeboarding, the demand for depth, length, and width of fins may vary. However, considering a large number of beginner rides, manufacturers are producing larger fins that offer more stability to the new riders.

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Latin America (Mexico. Brazil)
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Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)

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Wakeboarding is receiving a push from the efforts of the wakeboarding associations and water sport bodies. Nevertheless, leading organizations in the wakeboarding market, such as the World Wake Association (WWA), are putting efforts to promote wake sports across the world.

By organizing amateur as well as professional wakeboard events and tournaments on a global platform, these organizations are encouraging water sports enthusiasts to participate in wakeboard activities.

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