Water Sports Equipment Market Trends 2023, Global Industry Share, Growth Drivers, Key Manufacturers, Challenges, Opportunities and Future Outlook 2032: SPER Market Research
Products made for different water-related sports like kayaking, surfing, diving, and swimming are referred to as water sports equipment. Surfboards, kayaks, goggles, snorkels, fins, swimsuits, and other protective gear fall under this category. The water sports equipment market is being driven by various factors such as technological advances, rising interest in water sports, and the growing popularity of beach tourism. Revenue and average revenue per capita are the two components of this market.
According to SPER market research, ‘Water Sports Equipment Market Size -By major water Sports, By Gender, By Age Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Water Sports Equipment Market is predicted to reach USD 70.42 billion by 2032 with a CAGR of 3.83%.
Drivers: Equipment such as buoyancy control devices (BCD), dive computers, safety helmets, and life jackets keeps participants in water sports safe. For example, divers can change lanes underwater and avoid falling into a deep abyss thanks to the buoyancy control system. It also provides a safe environment for above-ground wreck and cave diving. Safety helmets also protect other people’s heads and the heads of swimmers. As a result, these advantages increase consumer demand for water sports gear, boosting the industry.
Challenges: influencing variables and domestic market regulation changes that have an effect on the market’s present and future tendencies. Some of the key indicators utilized to predict the market situation for certain countries are data points like consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and upstream and downstream value chain analysis. When presenting a forecast analysis of the nation data, factors such as the availability and presence of global brands, the difficulties they encounter from the intense or minimal rivalry from local and domestic brands, the effect of trade routes and domestic tariffs, are also taken into account.
The pandemic’s impact on the market for in-the-water sports equipment from both a local and global perspective. This research describes the market characteristics, size, and growth of the In-The-Water Sports Equipment industry, which is divided into three categories: kind, utility, and patron sector. Moreover, it offers a thorough assessment of the chemicals involved in improving the market both before and after the COVID-19 epidemic.
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Geographically, North America and Europe are anticipated to lead the global market for water sports gear and equipment during the projected period. This can be ascribed to the abundance of water sporting locations in both regions. Furthermore, the growing number of people who like water activities in nations like France, Germany, and the United States is offering producers a profitable opportunity.
Furthermore, Global leader for Water Sports Equipment Market is Gotham, &Aqua Lung International, BIC Sport, Billabong, Cabrinha, Dongguan Eyson Lifesaving Equipment, Johnson Outdoors.
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.
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Water Sports Equipment Market Outlook
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