Global Watersports Equipment Expected to Reach $ 18.7
• Artificial indoor water sports facilities are expected to gain popularity in the global water sports equipment market, especially for kayaking and rafting. New water sports activities like flyboarding, blob jumping and various others are expected to gain popularity and drive the market in the years to come.
• Jet Ski experienced the strongest growth in terms of CAGR of consumer spending on its equipment. This figure was close to 10% over the period 2012-2017. The market is expected to register the highest growth again in the coming period, registering a CAGR of almost 12%.
• The predominance of female water sports participants is expected to increase over the forecast period. Likewise, participants in the 18-30 age group would also show a significantly higher share in 2022.
• Although the Americas would remain the market leader in terms of consumer spending in 2022, its share of the global market would decline due to increased tourism and brand awareness in the APAC and MEA region.
Major factors that are likely to support growth during the forecast period include growing interest of people in water sports activities, technological advancements made by market players, increasing participation rates and evolution. demographic. In recent years, it has been observed that artificial water bodies for kayaking and rafting are gaining popularity among water sports enthusiasts, a similar trend would facilitate the size of the market in the future. The US National Whitewater Center in Charlotte, North Carolina, USA has the world’s largest man-made river, suitable for rafters and kayakers. Technological changes have led to the development of more complex and technical water sports equipment and equipment. In addition, it paved the way for the improvement of many features of the product. Currently, the raw materials are developed in such a way as to withstand the corrosive atmosphere of the oceans, which not only increases the longevity of water sports equipment and equipment, but also makes such equipment and equipment more comfortable to use. More efficient and easier to use fins make it easy for divers of all types, from beginners to professionals, to navigate underwater. Ultimately, these technological improvements in equipment should make it much easier for people to enjoy water sports. A rapid growth in interest in underwater photography is visible among the population in recent years, especially in the APAC and MEA regions. This is a great opportunity for growth in participation rates in scuba diving and snorkeling and related equipment market.
Technological changes have led to the development of more complex and technical water sports equipment and equipment. In addition, it paved the way for the improvement of many features of the product. Currently, the raw materials are developed in such a way as to withstand the corrosive atmosphere of the oceans, which not only increases the longevity of water sports equipment and equipment, but also makes such equipment and equipment more comfortable to use. For example, rubber and plastics improve the perfect fit of masks and goggles, and treated glass improves safety for divers. More efficient and easier to use fins make it easy for divers of all types, from beginners to professionals, to navigate underwater. Ultimately, these technological improvements in equipment should make it much easier for people to enjoy water sports. A wide awareness among the population regarding the health benefits of water sports activities such as rafting, scuba diving, snorkeling and others is expected to increase the demand for equipment among the population. Increased public interest in recreational activities is leading many countries to organize events and championships that will increase awareness and participation rates in sport. In 2018, a surf expo is planned in Orlando, Florida, United States. Other similar events are expected to take place in different parts of the world. Such activities will increase the demand for water sports equipment in the years to come.
Ken Research analysts in their latest publication “Global Water Sports Equipment Market Outlook to 2022 – By Major Water Sports (Surfing, Scuba Diving, Jet Skiing, Snorkeling, Kitesurfing, Canoeing & Kayaking, Rafting and parasailing), by regions (Americas, Europe), APAC and MEA) ”believe that the promotion of equipment through training institutions, the introduction of free test and rental facilities offered by manufacturers and Stricter regulations requiring the use of safety equipment will help the global water sports equipment market during the forecast period.
The global Water Sports Equipment market is expected to register a positive CAGR of nearly 7% during the period 2017-2022.
For more information on the research report, refer to the link below:
Ankur Gupta, Marketing and Communication Manager
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