Global Flyboarding Equipment Market 2017-2021

Flyboarding equipment market analysis

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. This factor will significantly increase the flyboarding equipment market size in the forthcoming years. Water sports like scuba diving, surfing, and snorkeling 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 flyboarding equipment market development during the forecast period.

Flyboarding equipment market growth based on geography

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 the next four years.

Flyboarding equipment market forecast: Competitive landscape and key vendors

The global flyboarding equipment market is marked by the presence of well-established vendors in the Americas and Europe. To gain a competitive advantage, suppliers are compelled to distinguish their product and service offerings through a clear and unique value proposition. Vendors operating in this space compete on different factors like price and quality while focusing on various strategies to increase their shares in the global market. The current competition, coupled with upgrades in technology and consumer preferences, is expected to keep the market buoyant over the coming years.

Leading vendors in the market

• Adidas
• DEFY WaterFlight
• FlyDive
• Stratospheric Industries
• Zapata Racing

Flyboarding equipment market segmentation by retail format

• Sporting goods retailers
• Department stores hypermarkets, and supermarkets
• Online retailers

During 2016, the sporting goods retailers dominated the flyboarding equipment market and accounted for a significant part of the overall market share. The advantage of sporting goods retailers to offer popular brands is the key contributor to the popularity of this segment. With the increasing competition and rising awareness, the growth rate of this segment is expected to decline in the next few years.

Flyboarding equipment market segmentation by product type

• Flyboards
• Flyboard protective gears

In this market study, analysts have estimated the flyboard segment to dominate the flyboarding equipment market during the forecast period. The primary reason for the dominance of this segment is that these boards are relatively expensive as compared to other flyboarding equipment and are the most necessary product for pursuing and practicing the sport.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global flyboarding equipment market?
• What are the key market trends impacting the growth of the global flyboarding equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global flyboarding equipment market?
• What are the market opportunities and threats faced by the vendors in the global flyboarding equipment market?
• Trending factors influencing the market shares of the Americas, Europe, and ROW.
• What are the key outcomes of the five forces analysis of the global flyboarding equipment market?

Technavio also offers customization on reports based on specific client requirement.

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