Artificial indoor water sporting facilities are expected to gain increased popularity in the global water sports equipment market especially for kayaking and rafting. Owing To Technological Advancements, Changes in Manufacturing Processes, Growth Of Water Sports Infrastructure In Various Regions, Increasing Number Of Sports Championships Organized And Development Of Artificial Water Bodies.
New water sports activities like flyboarding, blob jumping and various others are expected to gain popularity and drive the market further in the coming years.
Jet Skiing has acquired the highest growth in terms of CAGR of consumer expenditure incurred on its equipments. This was close to 10% during 2012-2017. The market has been anticipated to capture highest growth again in the future period registering a CAGR of close to 12%.
Dominance of female participants in water sports is expected to rise in the forecast period. Similarly, participants in the age group of 18-30 years would also show a significantly higher share in 2022.
Although, Americas would remain to be the market leader in terms of consumer expenditure in 2022, its share in the global market would decrease owing to rise in tourism and awareness in APAC and MEA region.
Analysts at Ken Research in their latest publication “Global Water Sports Equipment Market Outlook to 2022 – By Major Water Sports (Surfing, Scuba Diving, Jet Skiing, Snorkeling, Kiteboarding, Canoeing and Kayaking, Rafting and Parasailing), By Regions (Americas, Europe, APAC and MEA)” believe that promotion of the equipments through training institutions, introduction of free trial and rental facilities offered by the manufacturers and stricter regulations mandating the use of safety equipments will aid the global Water sports equipment market in the forecast period.
Global water sports equipment market is expected to register positive CAGR of close to 7% during the period 2017-2022.
The major factors that may support growth during the forecast period includes rising interest among people for water sports activities, technological advancements carried out by the players in the market, increasing participation rates and changing demographics. In the recent years it has been observed that artificial water bodies for kayaking and rafting are gaining increased popularity among water sports enthusiasts, similar trend would facilitate market size in the future. The U.S. National Whitewater Center situated in Charlotte, North Carolina, US, has the largest artificial river in the world, which is suitable for rafters and kayakers. The technological changes have led to the development of more complex and technical water sports equipment and gear. Moreover, it has paved the way for improvements in many product features. Currently, raw materials are being developed in such a way that it withstands the corrosive ocean atmosphere, which not only increases the longevity of water sports gear and equipment, but also makes these gear and equipment more comfortable to use. More efficient and easy-to-use fins allow divers of all types, from beginners to professionals, to easily navigate underwater. Eventually, these technological improvements in equipment are expected to make it much easier for people to pursue water sports. A rapid growth in the interest for underwater photography is visible among the people in the recent years especially in the regions APAC and MEA. This is a great opportunity for growth in the scuba diving and snorkeling participation rates and related equipment market.
The technological changes have led to the development of more complex and technical water sports equipment and gear. Moreover, it has paved the way for improvements in many product features. Currently, raw materials are being developed in such a way that it withstands the corrosive ocean atmosphere, which not only increases the longevity of water sports gear and equipment, but also makes these gears and equipments more comfortable to use. For instance, rubber and plastics enhance the snug fit of masks and goggles and treated glass improves divers’ safety. More efficient and easy-to-use fins allow divers of all types, from beginners to professionals, to easily navigate underwater. Eventually, these technological improvements in equipment are expected to make it much easier for people to pursue water sports. Wide spread awareness among the people regarding the health benefits of the water sports activities such as rafting, scuba diving, snorkeling and others are expected to raise the demand for the equipments among the people. An increased interest among the people towards recreational activities is leading many countries to hold events and championships that shall raise the awareness and participation rates of the sport. In 2018, a surf expo is scheduled to be held in Orlando, Florida, US. More of such similar events are expected to be held in different parts of the world. Such activities shall raise the demand for water sports equipments in the coming years.
Key Topics Covered in the Report:
Global Parasail market
Snorkeling masks market
Surfing participation in US
Telescoping paddle market
Personal Watercraft market
Gear and accessories market
Global Surfboards market
Kiteboarding equipment market
Decompression chamber market
Snorkeling equipment market
Parasailing equipment market
Scuba diving equipment market
Global Water sports equipment market
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