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The in-the-water sports equipment market size is forecast to increase by USD 6.09 billion at a CAGR of 4.43% between 2022 and 2027. Market growth relies on several pivotal factors, including the surging interest and engagement in water sports, continuous advancements in aquatic sports equipment, and the escalating consumer inclination towards fitness activities. As more individuals embrace water-based recreational pursuits like surfing, paddleboarding, and swimming, the demand for high-quality and innovative gear intensifies. Technological progress fuels the development of cutting-edge equipment designed to enhance performance, safety, and overall user experience in water sports. Moreover, the growing focus on personal health and wellness drives consumers to prioritize fitness-related endeavors, leading to increased demand for sports equipment tailored to aquatic workouts. These converging trends create a fertile ground for market expansion, offering opportunities for industry players to innovate, diversify product offerings, and capitalize on the evolving preferences of enthusiasts and fitness-conscious consumers alike.
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The market offers a divers range of gear for enthusiasts engaging in activities like diving, kayakers, and swimmers in surface water bodies. Innovations like Saxdor boats cater to the needs of team sport and resort rentals, while flyboarding and inflatable catapults provide thrilling experiences in television shows. Ride ticketing systems streamline access to water sports attractions, attracting participants from diverse backgrounds. Additionally, Taiwan serves as a hub for manufacturing high-quality water sports equipment for global distribution.
This market report extensively covers market segmentation by product (sports gear and sports apparel), type (swimming, water aerobics, and water polo), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the sports gear segment will be significant during the forecast period. The water sporting gear comprises all water sporting equipment used for sports, such as water aerobics, swimming, and water polo. During the forecast period, both the water sporting gear and apparel segments are expected to gain pace with the rising popularity of different types of water sporting activities.
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The sports gear segment was the largest segment and was valued at USD 11.70 billion in 2017. People have more spending power to invest in recreational activities like water sports, including the purchase of specialized gear, as economies grow and disposable incomes rise. The water sports industry has experienced significant growth, and companies producing water sports gear have been reacting to the growing demand by advancing and offering a wide range of innovative products catering to various skill levels and preferences. The trend of outdoor recreation and interest in water sports is likely to continue, driving further growth in the water sports gear segment as well as the global market in focus.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The major markets in this region are the US and Canada in North America and Brazil in South America. Among these, the US is the largest market for water polo equipment. Swimming is the fourth most popular recreational activity in the US. North America is the largest share of the global water polo equipment market, and its share is expected to grow further during the forecast period.
However, the winters in this region are very cold, and this acts as a major hindrance for water sports businesses in the region. Although, promotional campaigns and initiatives have had a favorable influence on the growth of the market in North America. For instance, The Swimming Saves Lives Foundation initiated a nationwide campaign in the US. This campaign was aimed at lowering the number of adult drownings. Such initiatives driving participation in water sports are fueling the revenue growth of the market in the region during the forecast period.
The market is buoyant, catering to enthusiasts in sports and leisure activities like snowboarding and water sports enablers. Innovations like the electric surfboard and Zapata Flyboard enhance the thrill of adventure sports. With rising interest among Millennials, offerings such as aquatic hover and water jetpacks gain traction. Facilities like swimming pools and resorts support various water-based activities while ticketing and guided tours streamline access for participants. Additionally, merchandise and parking facilities complement the overall experience for enthusiasts. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing interest and participation is a major factor driving the market growth. Over the past decade, watersports, including water polo, swimming, scuba diving, surfing, and snorkelling, the major sports become popular recreational activities. Various government bodies have also increased their focus on these sports events. To increase the revenue from the tourism industry, various campaigns promoting water sports have been organized by several governments and tour operators. For instance, Kenya is trying to promote itself as a water sports destination. Globally, many countries have exclusive regulatory bodies for different water sports that organize and promote sports in the country. A few examples of such exclusive regulatory bodies are Water Polo Australia and US Water Polo.
Moreover, these factors, along with varying demographics and lifestyles and growing expenditure on recreation, are supporting to expand the popularity of water sports. Therefore, the interest and participation in these sports are rising and boosting the market growth during the forecast period.
An increase in the number of female participation is an emerging trend shaping the market growth. The participation of women in different sports has increased across the globe over the past few years. The shrinking of the gender gap between the number of male and female athletes in the Olympic Games is considered one of the biggest achievements. With an equal number of men and women participating in some water sports, the participation of women has been particularly high over the last few years.
For instance, an equal number of men and women participated in diving in the London Olympics Games and Paralympics Games. The US sent the maximum number of women players in these games. Such trends are expected to drive market growth during the forecast period.
Strict regulations on high-tech swimsuits are a significant challenge hindering market growth. Scientifically advanced fabrics and materials such as nylon composites and spandex are generally used to make high-tech swimsuits. These swimsuits were mostly used in different events of swimming competitions as they helped lower the resistance of normal fabrics.
However, FINA banned the use of these swimsuits in swimming competitions and set up certain guidelines for the manufacturing of swimsuits such as it should be permeable and should not contain any metal, rubber, or polyurethane. It also set certain coverage requirements banning the use of neck-to-ankle suits in both men's and women's competitions. Such strict regulations may hinder market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 17 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2022 for the following segments.
The market is fueled by the growing popularity of adventure activities and the influence of Western media showcasing these sports. Products like the water polo ball and water polo clothing cater to enthusiasts looking to engage in aquatic sports like water polo. Brands like Baden and Billabong offer a diverse product line to meet the varied needs of water sports enthusiasts. Rental services further enhance accessibility to equipment, allowing individuals to enjoy activities such as flying foxes, heli skiing, and blob jumping. Geographical analysis helps identify regions with high demand, while innovative products like the Subwing and surf parks continue to attract enthusiasts seeking thrilling experiences.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.43% |
Market growth 2023-2027 |
USD 6.09 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.15 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, China, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, Apollo Sports USA Inc, Aqualung Trading, BEUCHAT INTERNATIONAL S.A.S, Boardriders Inc., Cressi Sub Spa, Descente Ltd., Head, Johnson Outdoors Inc., JumpKing International LLP, KAP7 International, Mikasa Corp., Nike Inc., Obrien, Pentland Brands Ltd., Turbo Swim, and Under Armour Inc. |
Market dynamics |
Parent market analysis, Market growth and trends inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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