Overview of the bowling equipment market
Extensive research carried out by the analysts at Technavio has shown that the global bowling equipment market will witness steady growth and will post a CAGR of more than 4% over the forecast period. Bowling is gaining immense popularity in the hospitality sector and some of the most popular resorts in tourist cities like Orlando, Las Vegas, and New York have started including bowling alleys. Such bowling alleys are built at the time of building the resorts or at a later stage. As bowling is a sport that is enjoyed by families, adults, and kids alike, the presence of bowling alleys in resorts helps the guests to engage in recreational activities during their stay. However, the bowling alleys at resorts are usually not as large as bowling alleys should be, but are smaller so that they fit within the resort. Therefore, pioneering bowling chains like Bowlmor Lanes, Lucky strike, and Splitsville are joining hands with luxury resorts to provide customers the same experience as that of playing in a professional bowling center, which will also boost this market’s growth over the next four years.
One of the recent trends gaining significant traction in the market is the increasing popularity of cosmic or extreme bowling. The bowling alley for such bowling is more of a hybrid alley, and the look and feel of the alley reflect the cosmos and the universe, which is accentuated with black lighting. During cosmic or extreme bowling, the bowling alley is converted into a virtual disco, with throbbing music, computer-programmed lighting effects, fog machines, balls, pins, and lanes which glow in the dark using ultraviolet lighting. The ambiance is more of a disco night setting, which greatly appeals to the teens and young adults who like a party atmosphere.
Competitive landscape and key
Overview of the global sports ATV equipment market
Technavio’s market research analyst predicts the global sports ATV equipment market to grow steadily at a CAGR of above 5% by 2021. One of the primary drivers for this market is the growing popularity of off-road recreational activities. The popularity of such activities can be attributed to the need for leisure with a busy lifestyle of today's global population, especially in the urban areas. This rising popularity of off-road activities has propelled sports enthusiasts to take up activities like backpacking, scuba diving, rafting, snorkeling, mountain biking, and dirt racing. On a global scale, the need for leisure is especially evident among people who come under the age bracket of 25-44 years. For instance, in 2015, nearly half of the US population belonging to this age group, participated in such off-road recreational activities. This increasing interest in off-road recreational activities across the globe is expected to propel the sports ATV equipment market in during the forecast period.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. With governments encouraging off-road recreational activities by allocating land for sports events like dirt racing, desert racing, and mountain racing is the major reason for the growth of the sports ATV equipment market in the region. Moreover, a rapid increase in the exports of sports ATV equipment across the globe will further contribute to the growth of the sports ATV equipment market in the coming years.
Competitive landscape and key vendors
Overview of the global rafting equipment market
The global rafting equipment market is anticipated to grow at a steady rate and will post a CAGR of close to 2% during the forecast period. The growing number of water sports facilities worldwide will drive the growth prospects for the global rafting equipment market for the next four years. One of the major factors responsible for the growing demand for rafting equipment is the surge in water sports sector, which is highly labor intensive and creates stable employment opportunities. Also, many economies are taking initiatives to promote the growth and expansion of water sporting facilities on a global level. For instance, the Water Sports Industry (FAWI) project aims at improving the facilities for the water sports industry. Furthermore, focusing on key elements such as sustainable development, upgrades, quality improvements, and cross-border collaborations in the water sports segment, the demand for water sports and rafting equipment will further increase.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. One of the major factors responsible for the market segment’s growth in the region is the rising participation rates in paddle sports such as paddling, canoeing and kayaking, rafting, and stand-up paddle boarding.
Competitive landscape and key vendors
The global rafting equipment market is highly
Overview of the global racket sports equipment market
Market research analysts at Technavio predict that the global racket sports equipment market will grow steadily during the next four years and post a CAGR of almost 3% by 2021. Due to the increased participation of frequent players, the recent years witnessed an increase in the number of racket sports tournaments across the world. This market research analysis identifies this increase in number of tournaments as one of the primary growth factors for this market. It has been observed that the frequent players account for more than half of the revenue generated through the sales of tennis rackets. In addition to the major tennis tournaments like the Australian Open, Wimbledon, Roland Garros, and the US Open, the Association of Tennis Professionals (ATP) organizes several other tennis tournaments every year. Furthermore, the Badminton World Federation (BWF) recently introduced the 12-leg Super Series Badminton League for promoting the sport. Such initiatives will not only increase the popularity of the sport, but also result in attracting more customers, in turn, driving market growth.
This market research and analysis estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the predicted period. The increased popularity of squash in the region that results in constantly rising the number of regular players in countries such as the US and Canada will be a major factor driving market growth. Moreover, the popularity of tennis, the rising number of frequent or regular tennis players, and the increase in demand for
Overview of the global flyboarding equipment market
Technavio’s market research analyst predicts the global flyboarding equipment market to grow steadily at a CAGR of above 3% by 2021. One of the primary growth drivers for this market is the rising popularity and subsequent participation in water sports across the globe. Water sports like scuba diving, surfing, and snorkelling have become a significant part of recreational activities over the past decade. To capitalize on this growing popularity of water sports, various government bodies have actively started promoting water sports to increase the revenue generated from the tourism industry. Multiple promotional campaigns are being run by both local governments and tour operators in several countries, which, in turn, are resulting in the growth of the water sports industry at large. Moreover, changing demographics and lifestyles, coupled with an increase in recreational expenditures will propel the growth of the global flyboarding equipment market during the forecast period.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The high participation rate in water sports in the region is the key contributor to the growth of this market in the region. The highest participation rate stems from the millennial population in the Americas. Also, in an attempt to further in the popularity of water sports in the region, the governments are planning to establish championships that will further propel the growth of the flyboarding equipment market in
Overview of the global canoeing and kayaking equipment market
Technavio’s market research analyst predicts the global canoeing and kayaking equipment market to grow steadily at a CAGR of above 3% by 2021. The rising interest levels of sports enthusiasts in soft adventure sports activities, is the key driver contributing to the growth of this market. In 2015, a growing number of sports enthusiasts showed interest in alternative physical activities like outdoor and adventure sports including backpacking, scuba diving, rafting, snorkeling, stand-up paddle boarding, canoeing and kayaking, and leaf peeping. Among these activities, water sports like canoeing and kayaking have become one of the most preferred recreational activities in the past few years. This is primarily due to the adventure and the health benefits associated with canoeing and kayaking. Moreover, to escalate the revenue generated from the tourism industry, governments across the globe are promoting the water sports industry by implementing promotional campaigns and hiring tour operators. These promotional programmes coupled with the increasing interest in water tourism will propel the growth of the global canoeing and kayaking equipment industry during the forecast period.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. The dominance of this region can be attributed to the increased participation rates in paddle sports, including paddling, canoeing, kayaking, rafting, and stand-up paddle boarding from the people in this region. Further, to increase the popularity