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The surface water sports equipment market share is expected to increase by USD 11,211.88 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.31%.
This surface water sports equipment market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers surface water sports equipment market segmentation by product (apparel and others), type (surfing, boarding, sailing, skiing, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The surface water sports equipment market report also offers information on several market vendors, including Absolute Outdoor Inc., AIRE Inc., Belassi GmbH, Blue Sea Watersports, BomBoard LLC, Escalade Inc., Imagine Nation Sports LLC, Johnson Outdoors Inc., Kent Water Sports LLC, KJK Sports, Magnus Amusement Machines Pvt. Ltd., Marine Products Corp., Miami Nautique International, Naish International, North Technology Group LLC, Oriental Recreational Products Shanghai Co. Ltd., Starboard Co. Ltd., Sunny Water Sports Products Pvt. Ltd., SURFTECH LLC, Vanguard Inflatables, and Wing Group among others.
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The growing number of water sporting facilities globally is notably driving the market growth, although factors such as the high degree of risks involved with surface water sports may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the surface water sports equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Surface Water Sports Equipment Market Driver
The growing number of water sporting facilities globally is one of the major drivers impacting the surface water sports equipment market growth. Water Sports Industry (FAWI) project, which aims to improve facilities for the water sports industry. The project is aimed at professionalizing and economically strengthening the water sports industry through sustainable development, upgrades, quality improvements, and cross-border collaborations in the water sports segment.
These collaborations are mainly concentrated around the Flemish-Dutch border, in the maritime region of the Southwest Netherlands, West Flanders, Northwest France, and Southeast England. Also, countries in APAC are significantly contributing toward water sports activities. Thus, the growing number of water sporting facilities in various countries around the globe will drive the growth of the market during the forecast period.
Key Surface Water Sports Equipment Market Trend
Increasing participation in surface water sporting activities is one of the major trends influencing market growth. The female-to-male participation ratio was approximately 40:60. The increasing participation in various water sporting activities has also led to a rise in the number of water sports tournaments across the world, further propelling the growth of the market. The United States Rafting Association Championships divide the country into three regions: Western, Central, and Eastern. Each region follows the rules of the IRF in competitions to determine a winner.
The champions from the regions then race at the United States Rafting Association (USRA) National Championship Race, which then determines the US team for the World Rafting Championships. Across the various sports categories tracked by the Sports and Fitness Industry Association (SFIA), water sports witnessed the largest year-over-year increase in participation at 2.3% in 2022 compared to 2021. Thus, the growing participation in water sports will drive the growth of the market during the forecast period.
Key Surface Water Sports Equipment Market Challenge
Unfavorable weather conditions are one of the major challenges impeding market growth. Unfavorable weather conditions negatively impact water sporting activities such as flyboarding, scuba diving, snorkeling, jet skiing, stand-up paddle boarding, and rafting to a great extent. Changes in weather patterns such as extreme heat, cold, and humidity can lead to unpleasant diving and water sporting experiences.
Using water sporting equipment during extreme weather conditions can be a serious safety hazard to participants as it becomes difficult to manage the equipment in turbulent weather. During the rainy season, which lasts between July and September, severe thunderstorms and hurricanes can develop in the US, while, during winters (November to January), there is heavy snowfall. The Ring of Fire is present in the basin of the Pacific Ocean, leading to the development of various seasonal uncertainties, which further hinder the market in APAC and North America. Owing to bad weather and monsoon, adventure sports such as surface water are stopped completely.
This surface water sports equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global surface water sports equipment market as a part of the global leisure products industry within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as price, quality, and brand to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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46% of the market’s growth will originate from North America during the forecast period. The US is the key market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The growing interest in recreational sports activities, the increasing number of overseas and domestic tourists, rapid growth in surfing championships and events, and the presence of prominent vendors will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic negatively impacted the growth of the market in North America. However, the initiation of large-scale vaccination drives since 2021 has led to a decline in the number of COVID-19 cases in the region. This has resulted in the lifting of lockdowns and the resumption of surface water sporting events by following COVID-19 safety norms and keeping players in bio bubbles to ensure the safety and smooth conduct of sporting events. For instance, in April 2022, RIP CURL PRO NATIONALS, a 3-day surf competition, was held in Canada. Such events are expected to increase the demand, which, in turn, will drive the growth of the market in North America during the forecast period.
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The market share growth in the apparel segment will be significant during the forecast period. The rising popularity of activewear products is likely to spur the growth of this segment, with marketers continually rolling out new lines of water sports equipment to cater to customer requirements.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Surface Water Sports Equipment Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.31% |
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Market growth 2022-2026 |
USD 11,211.88 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.52 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 46% |
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Key consumer countries |
US, Mexico, Australia, France, and Italy |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Absolute Outdoor Inc., AIRE Inc., Belassi GmbH, Blue Sea Watersports, BomBoard LLC, Escalade Inc., Imagine Nation Sports LLC, Johnson Outdoors Inc., Kent Water Sports LLC, KJK Sports, Magnus Amusement Machines Pvt. Ltd., Marine Products Corp., Miami Nautique International, Naish International, North Technology Group LLC, Oriental Recreational Products Shanghai Co. Ltd., Starboard Co. Ltd., Sunny Water Sports Products Pvt. Ltd., SURFTECH LLC, Vanguard Inflatables, and Wing Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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