Global Water Bikes Market To Further Expand At A Cagr Of 25% By 2032

When globalization is intensifying day by day, many businesses call for global market research for actionable market insights and to support decision-making. The scope of the global Water Bikes Market report extends from market scenarios to comparative pricing between major players, cost, and profit of the specified market regions. Market drivers and market restraints mentioned in this market analysis report help businesses gain an idea about the production strategy. Also, the identity of respondents is also kept undisclosed and no promotional approach is made to them while analysing the data.

The Water Bikes Market report gives CAGR value fluctuation during the forecast period of 2022-2032 for the market. Important industry trends, market size, and market share estimates are analyzed and mentioned in the report. This report helps the firm in exploring new uses and new markets for its existing products and thereby, increasing the demand for its products. The market document provides an in-depth overview of product specification, technology, product type, and production analysis considering major factors such as revenue, cost, and gross and gross margin. The global Water Bikes Market report is comprehensive and opens the door to the international market for the products.

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Key Insights Offered in Water Bikes Industry Survey:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• COVID-19 Impact on Demand for Water Bikes and How to Navigate
• Recommendation on Key Winning Strategies

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Revenue Analysis of Water Bikes from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031

As per the research by Fact.MR, a market research and competitive intelligence provider, historically, from 2016 to 2020, market value of water bikes increased at around 11.5% CAGR, with the U.S., Canada, Spain, Italy, and China holding high shares in the global market.
With all considerations such as high price of water bikes, use of water bikes for racing, and upsurge in sales of electric water bikes, it has been revealed that water bikes market growth to 2031 is forecast to expand at a high CAGR of close to 24%.
• The global market expected to experience prominent growth in 2021 with worldwide revenue up 19.6% year-over-year. Fact.MR estimates that global revenue from water bikes will grow 9X reaching US$ 181.1 Mn by 2031, at a ten-year compound annual growth rate (CAGR) of 24%.
• As per Fact.MR's market insights, global market revenue totaled US$ 16.8 Mn in 2020.
• Demand for conventional water bikes is set accelerate at a moderate pace.
• Demand for hydrofoil water bikes is projected accelerate at a high pace.
• Top 2 manufacturers of water bikes held 79% market share in 2020.
• While demand was impacted by COVID-19, over the decade, long-term forecasts look good, especially for electric water bikes.

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Which Factors are Propelling Demand for Water Bikes?

Increasing urbanization and change in pace of living, with an increasingly hectic lifestyle becoming normal, has inclined consumers towards some form of activity, which has boded well for the demand for water bikes.
Water biking is one of the water sports activities that helps burn a significant number of calories due to the pedalling involved. Besides, it also helps relaxes the mind. Use of water bikes for racing is also pushing the market upwards.
The market is not yet solidly established around the world and ongoing product design and development is expected to aid expansion going further. Water bicycle market trends are customers opting for rental water bikes instead of buying new one and buying electric water bikes.
Manufacturers are increasingly taking efforts to develop electric water bikes ideal for multiple industries.

• For instance, Manta5, a leading brand in water bikes, has been emphasizing on design and development of fully electric models of water bikes.

Key Segments Covered in Water Bikes Industry Research

• By Technology

o Pontoon
o Hydrofoil
o Surfboard

• By Product Type

o Manual Water Bikes
o Electric Water Bikes

• By Ownership

o Personal Water Bikes
o Rental Water Bikes

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