CAGR of 3% in the water sports equipment market

Key water sports equipment market Report Highlights:

  1. Market Growth 2020-2025: $4.39 billion
  2. Growth momentum and CAGR: Accelerate to a CAGR of around 3%
  3. Annual growth (%): 1.66%
  4. Contribution to successful market: North America at 44%
  5. Main consumer countries: United States, United Kingdom, France, China, Canada

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Regional Market Analysis

North America will register the highest growth rate of 44% among other regions. Thus, the water sports equipment market in North America is expected to generate significant business opportunities for vendors over the forecast period. The United States and Canada are the key markets for the water sports equipment market in North America.

  • Participation in water sports is highest among millennials at around 20%. Millennials are followed by Gen Z, with an average turnout of around 29%. Popular water sports in the area are canoeing, fishing, kayaking, rafting, sailing, scuba diving, snorkeling, water polo, stand-up paddle boarding, surfing, water skiing and wakeboarding.
  • The market for water sports equipment is also set to grow owing to the increasing relaxation of lockdown regulations and the opening of sports clubs, water sports events and others. This will drive the need for water sports equipment and accessories, which will simultaneously drive the market over the forecast period.

For additional regional market information: Request a free sample report.

Top Vendors and Vendor Strategies

adidas AG, Arena SPA, Baden Sports Inc., Boardriders Inc., KAP7 International, Mikasa Corp., Nike Inc., Pentland Brands Ltd., Turbo Swim and Under Armor Inc. among others are some of the major suppliers of the Marlet. Water sports equipment market.

  • The business segments of adidas AG include footwear, apparel and hardware. The company offers women’s swimwear, men’s briefs, goggles and others.
  • Arena SPA offers swimwear, equipment, sportswear and more for women, men, girls and boys. The company also offers racing swimsuits, training swimsuits, shaping swimsuits, beachwear, goggles, caps and others.
  • Baden Sports Inc. offers water polo sports equipment that has been regularly used by sports champions.

Download our free sample report to get a brief understanding of various other vendors and vendor strategies.

Key Market Drivers

Our analysts have detailed insights into the major market drivers and their impact on the Water Sports Equipment market.

  • Technological advances in water sports equipment:
    • Increase in the launch of innovative water sports equipment including in water sports equipment is expected to contribute to the growth of the market over the forecast period. Major market competitors are innovating their products in terms of design, color, shape and weight to meet the needs of individual consumers. The demand for water sports equipment is increasing as the number of newbies transitioning into seasoned recreational water sports enthusiasts increases. Thus, many manufacturers of water sports equipment are offering new lightweight and advanced equipment to meet their needs. Some examples of technologically advanced swimwear include thermal swimwear and UV swimwear.

To know some other market drivers, trends and challenges.

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Scope of the water sports equipment market

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 3%

Market Growth 2021-2025

$4.39 billion

Market structure

Fragmented

Annual growth (%)

1.66

Regional analysis

North America, Europe, APAC, South America and MEA

Successful market contribution

North America at 44%

Main consumer countries

United States, United Kingdom, China, France and Canada

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

adidas AG, Arena SPA, Baden Sports Inc., Boardriders Inc., KAP7 International, Mikasa Corp., Nike Inc., Pentland Brands Ltd., Turbo Swim and Under Armor Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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