Global Parasailing Equipment Market 2017-2021

Overview of the global parasailing equipment market

Market research analysts at Technavio predict that the global parasailing equipment market will grow at a CAGR of over 4% by 2021. This market research analysis identifies the rising interest in soft adventure sports as one of the primary growth factors for this market. The popularity of these soft adventure sports is mainly due to the need for leisure since the lifestyle of people is increasingly becoming hectic, especially in the urban areas. Water sports like scuba diving, wakeboarding, kitesurfing, parasailing, and surfing have become some of the most preferred recreational activities due to the rise in recreational expenditure, change in demographics, and a shift in consumer preferences. This increasing interest in recreational water sports will be a major driver for the growth of the parasailing equipment market.

The preference towards off-road parasailing is one of the major trends that will gain traction in the parasailing equipment market in the coming years. Off-road parasailing is usually started directly downwind from the vehicle since the canopy will swing itself downwind once it is off the ground. Like other forms of parasailing, off-road parasailing involves a passenger being towed by a vehicle specially designed for speeds that will lift the chute and uses 4X4 trucks instead of boats. The vehicle is usually driven at 25mph to keep the parasail in the air and possibilities of intense off-roading, depending on the area.

Competitive landscape and key vendors

The parasailing equipment market is highly competitive due to the presence of several players. The vendors operating in this marketspace compete on several factors such as price, quality, brand, and variety. The competition in the market, technological upgrades, and the changes in consumer preferences act as major challenges to vendor operations. To survive and succeed in the competitive environment, the vendors have the need to distinguish their product and service offerings through a clear and unique value proposition.

The leading vendors in the market are -

• Custom Chutes
• Sport Chutes Over Texas
• Commercial Water Sports
• Ascending Parachutes International
• Waterbird Parasails
• Sportlite

The other prominent vendors in the market include Alp Aksu Boats, Pegasus Parasails, NauticExpo, Paradise Mount, and Hovel International Parasail.

Segmentation by product and analysis of the parasailing equipment market

• Parasail
• Parasailing harness
• Parasailing tow line
• Parasailing protective gear

The tow lines act as the parasailer's lifeline and is available in lengths ranging from 600-1,200 feet and are usually made of polyethylene terephthalate. These materials allow stretching to enable slight bouncing of the participants as they are towed behind on the water body. According to this market research and analysis, the parasailing tow line segment accounted for the major shares of this global market during 2016.

Geographical segmentation and analysis of the parasailing equipment market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. This will mainly attribute to factors including the growing number of water sports enthusiasts, the increasing popularity of soft adventure sports, and the rising number of water sporting facilities. This region also has some of the best destinations for parasailing including Copacabana (Rio de Janerio, Brazil), Miami (Florida, US), Hawaii (US), Key West (Florida, US), and Great Lakes (Michigan and Wisconsin, US).

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 parasailing equipment market?
• What are the key market trends impacting the growth of the global parasailing equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global parasailing equipment market?
• What are the market opportunities and threats faced by the vendors in the global parasailing equipment market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global parasailing equipment market?

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

Parasailing is a recreational kiting activity where an individual is tugged behind a boat while attached to a uniquely designed canopy wing. This upcoming market research report on the parasailing equipment market is an integral part of Technavio's consumer and retail portfolio and offers key insights into the market space for various niche segments. Technavio's insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build effective growth strategies.

Additionally, by implementing an extensive research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the outdoor sports equipment sector, the upcoming market research report on the parasailing equipment market offers insights into the key market drivers, trends, and eminent challenges that will influence the growth of the key suppliers in this market space. To help clients develop effective market entry strategies, the upcoming report on the parasailing equipment market also offers a competitive landscape assessment, covering some players like Waterbird, Pegasus, and Sportlite.

This market research report on the parasailing equipment market also takes into account the growth of related market like the surface water sports equipment market, which is anticipated to post an impressive CAGR of around 11% during the assessment period. According to our analysts, the rapid rise in the popularity of adventure sports tourism is expected to impact the parasailing equipment market across the globe. Moreover, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the parasailing equipment market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry report on the parasailing equipment market also offers insights into fast-growing segments within the consumer and retail industry, including sectors like general retail goods and services and retail systems. Additionally, the report also presents intelligence into the changing competitive scenario and gives clients a holistic view of the future direction of the industry.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.