Global Water Polo Equipment Market 2016-2020

Overview of the global water polo equipment market

Technavio’s market research analyst predicts the global water polo equipment market to generate revenues of over USD 700 million by 2020. Water polo is one of the popular sports of in-the-water sports activities, which has gained prominence over the years. The rising popularity of water polo in Olympics is one of the primary factors boosting the market for water polo equipment. This sport is gaining acceptance among all age groups, where the maximum participation comes from the youth. Owing to the growing inclusion of water polo in the extracurricular activities of several schools, the manufacturers are coming up with sustainable and disposable water polo suits. These products are eco-friendly and made of recycled fabrics. Also, several vendors are focusing on the introduction of innovative product offerings in terms of design, color, shape, and weight, to meet the requirements of individual consumers. They are launching new lightweight and more advanced equipment to cater to the changing consumer preferences. The surging interest in recreational water sport and increasing number of water pools will act as major drivers for the global water polo equipment market in the coming years.

In terms of geography, the Americas accounted for the major share in the global water polo equipment market in 2015 and is expected to grow at a rapid rate during the forecast period. Much of the region’s growth can be attributed to the increasing participation of millennials in the water sports activities such as water polo. The US is the largest contributor to the water polo equipment market. It has an aggregate of over 10 million swimming pools, and swimming accounts for the fourth-most popular recreational activity in the country. Also, several initiatives are being carried out to increase people’s engagement in water sports activities. For instance, to reduce accidental drowning deaths, the Swimming Saves Lives Foundation in the US initiated a nationwide campaign and recommended that children and adults learn to swim.

Competitive landscape and key vendors

The global water polo equipment market is characterized by the presence of established players with a wide range of product offerings. The market is anticipated to witness a rise in production capacity with several market players embracing advanced technological methods of producing water polo equipment. The market is expected to expand its growth in Asian countries like Singapore and Indonesia. The acquisition of new brands would offer massive opportunities for the leading competitors to maintain their dominance in the global water polo equipment market during the forecast period.

Leading vendors in the market are -

• Adidas
• Mikasa
• Nike
• TYR

Other prominent vendors in the water polo equipment market include Baden, Billabong, KAP7, Speedo International, Turbo, and Under Armour.

Product segmentation and analysis of the water polo equipment market

• Swimsuits
• Balls
• Caps
• Goal posts

The swimsuits segment dominated the market during 2015 and will continue to dominate the market over the forecast period. The growing demand for swimsuits can be attributed to their enhanced features and frequent purchase as they are more prone to wear and tear. Vendors are continuously improving their products and improvising their promotional strategies to sustain themselves in the competitive market. They are encouraging celebrity endorsement and are making massive investments in R&D. These strategies play a significant role in augmenting the popularity of sporting goods among consumers. Moreover, a rise in participation by youth and female participants will lead to a sizeable growth of this segment during the predicted period.  

Segmentation by distribution channel and analysis of the water polo equipment market

• Sports and specialty stores
• Department stores, hypermarkets, and supermarkets
• Online retail

In 2015, sports and specialty stores dominated the global water polo equipment market. These retail channels comprise popular brands of water polo equipment and offer a broad range of product portfolio. For instance, DICK's Sporting Goods is a prominent sports and specialty stores. However, with the convenience and several discount techniques adopted by online retailers, the online platform is expected to grow significantly in the coming years. Some of the most popular online retailers that sell water polo equipment are Amazon, eBay, and King of Water Sports.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global water polo equipment market?
• What are the key market trends impacting the growth of the global water polo equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global water polo equipment market?
• What are the market opportunities and threats faced by the vendors in the global water polo equipment market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
• What are the key outcomes of the five forces analysis of the global water polo equipment market?

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Related reports:

• Global Water Sports Gear and Equipment Market 2016-2020