Surface Water Sports Equipment Market Expected CAGR

The global surface water sports equipment market is booming and is expected to continue increasing between 2020 and 2030. According to Future Market Insights (IMF), the surface water sports equipment market is very lucrative and well positioned to reach a growth of more than 5% over the next ten years. People’s growing interest in adventure water sports will drive sales.

The market is currently driven by frequent product launches and various technological advancements. For example, the advent of electric vehicles in nautical activities will encourage manufacturers to make their launches more attractive to consumers.

As a result, companies will focus on offering better technologies and high performance of their equipment. Studies suggest that smaller companies are likely to focus more on innovations to strengthen their footprint in the global market.

For example, a New Zealand-based startup called Manta5 recently combined electric vehicle technology with personal watercraft to deliver exciting new gear for surface water sports. He launched a water bike called XE-1, which is built with carbon fiber hydrofoils on an aluminum frame.

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The water bike is equipped with a propeller that keeps the machine out of the water when the cyclist picks up speed. It also has an exclusive gearbox connected to a hybrid chain and shaft transmission that keeps the machine streamlined.

Driven by the multitude of product launches seen at regular intervals, the global water sports equipment market will show impressive growth. IMF studies the various factors driving the market in detail in its recent market research.

The report offers a comprehensive overview of the global surface water sports equipment market, covering the factors enabling growth and key restraints. It offers in-depth market insights. Some of them are:

North America Expected to See Strong Demand for Surface Watersports Equipment
The market is expected to grow at a higher rate in East Asia
Markets in North America, Europe and East Asia are likely to experience a high degree of competition. Therefore, companies need to focus on technological advancements and product launches to gain the edge.
The advent of electric vehicles and AI will give a significant boost to the market
The unprecedented COVID-19 outbreak is expected to hamper growth. Lack of tourism due to the ongoing pandemic crisis could lead to a drop in sales of surface water sports equipment
“The market for surface water sports equipment is expected to experience considerable growth. Although it may experience a slowdown in sales due to the ongoing pandemic, the recovery is in place as soon as the coronavirus passes. rising investment will drive market growth in coming years,” a senior IMF analyst said.

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Who wins?

Some of the major companies operating in the global surface water sports equipment market are Paddle Surf, AIRE, Naish International, Rave Sports, O’Brien, BIC Sports, Aqua Marine, Belassi, BomBoard, Starboard, Solstice Sports, Surftech and Johnson Outdoors. .

Companies operating in the market usually focus on innovations. IMF observes an increase in research spending and spending to support product launches. While the market displays the presence of a significant number of established companies, it also offers immense prospects for small businesses and new entrants.

Obtain valuable insights into the Surface Water Sports Equipment Market

Future Market Insights, provides an unbiased analysis of the global surface water sports equipment market in its new offering, giving historical demand data (2015-2019) and forecast statistics for the period 2020-2030. The study discloses compelling information about the market. In terms of product, the market can be segmented into paddle sports equipment, ski sports equipment, board sports equipment. Based on the end user, the market can be segmented into beginner, professional, and intermediate. Based on consumer orientation, the market can be divided into adult and children, and based on price range, it can be divided into mass and premium. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa.

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key segment

type of product

paddle sports equipment
Ski sports equipment
Sliding sports equipment
Client orientation

Adults
Kids
Sales channel

Wholesalers/ Distributors
Hypermarkets/ Supermarkets
Exclusive shops
Multi-brand stores
Franchised sports chain stores
Independent outlets
Online retailers
Final user

Beginner
Intermediate
Professional
Price scale

Mass
Prime
Region

North America
Europe
Middle East and Africa
East Asia
South Asia
Oceania
Latin America

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About IMF:

Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

This press release was published on openPR.

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