$55.2 billion from water sports equipment industry to 2027 – rafting and scuba diving activities drive demand in the market

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water sports equipment market

has increased the number of participants in water sports activities, which in turn drives the demand for water sports equipment in the market

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, March 8, 2022 /EINPresswire.com/ — The water sports equipment market trend is expected to increase during the forecast period, owing to the increase in the number of customer interests in fitness and health, exploration of life under -marine, learning new skills and gaining unique experiences

According to a new report published by Allied Market Research, titled “water sports equipment market By Product Type, Age Group and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020-2027”, the global water sports equipment market size was valued at $43.2 billion in 2019 and is expected to reach $55.2 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027. Water sports equipment is one of the most integral parts of water sports. They are used as a portable product that provides safety and increases efficiency in performing water sports activities such as snorkeling, rafting, diving, swimming, kneeboarding and others. These include safety helmets, life jackets, swim masks and goggles, swim fins, wetsuits, swimsuits and others. Furthermore, the expansion of distribution channels has made water sports equipment products easily accessible to customers, which in turn contributes to the overall growth of the water sports equipment market.

Water sports equipment such as safety helmets, life jackets, buoyancy control devices (BCDs), dive computers and others protect water sports participants from injury. For example, the buoyancy control device allows divers to change lanes underwater and prevents the diver from falling deep into the chasm and also allows cave and wreck divers to enter the air environment by completely safe. In addition, safety helmets protect the heads of swimmers and others from injury. So, this advantage offered by these water sports gears has increased their demand among users including trainers and sportsmen. This in turn contributes to the water sports equipment market share in terms of sales value.

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The global water sports equipment market is segmented on the basis of product type, age group, distribution channel and region. By product type, it is categorized into water sports wear, swimming fins, swimming mask and goggles, BCD (buoyancy control device), watches, life jackets, safety helmets and others. By age group, the water sports equipment market is divided into children, adults and geriatrics. Based on the distribution channel, the market is divided into specialty store, franchise store, online store, supermarket/hypermarket and others. Regionally, the Water Sports Equipment Market is analyzed across North America (US, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, South Korea and Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).

By product type, the watches segment is expected to grow at the highest CAGR of 5.39% during the forecast period. This is attributed to the built-in, waterproof IOT (Internet of Things) swim watch that allows swimmers and athletes to track timing, pace, distance, stroke count, lap count, stress level, heart rate, online training logs, etc. Thus, helping athletes and other water sports enthusiasts to monitor, track, analyze and improve their performance is driving the demand for popular swim watches among swimmers. This in turn is expected to provide immense market opportunities for water sports equipment in terms of sales value.

Additionally, by age group, the children’s segment is expected to grow at a highest CAGR of 4.07% in terms of sales value during the water sports equipment market analysis period. Indeed, nowadays, children are not limited to studies only, but also focus on extra-curricular activities to learn and explore new things. Thus, they also actively participate in activities such as swimming, boating, surfing, rowing and others.

Moreover, by distribution channel, the online store segment is expected to be the fastest growing segment in terms of sales value during the forecast period. Indeed, online platforms or e-commerce are becoming a popular medium for the purchase of sporting goods including water sports equipment among customers due to the easy availability of water sports equipment and benefits they provide, such as product information. functional attribute, time-saving function and easy home delivery to customers.

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Main results of the study

By product type, the water sports apparel segment accounted for the highest market share in 2019, growing at a CAGR of 1.95% from 2020 to 2027.

By age group, the adult segment accounted for the highest market share in 2019, growing at a CAGR of 2.6% from 2020 to 2027.

By distribution channel, the franchise store segment accounted for the largest water sports equipment market share in 2019, growing at a CAGR of 2.51% from 2020 to 2027.

By region, North America occupied the maximum water sports equipment market share in 2019 and is expected to lead the market during the forecast period of the water sports equipment market.

The major players operating in the global water sports equipment industry are Cressi SpA, Aqua Lung International, JOHNSON OUTDOORS INC., Tabata Co., Ltd., Mares SpA, Beuchat, O’Brien, Oneill, Puma and Speedo International.

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Contents ;-
CHAPTER 1 INTRODUCTION

1.1.Description of the report
1.2. Main benefits for stakeholders
1.3.Key Market Segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analysis tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Main results of the study
2.2.CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Definition and scope of the market
3.2. Key findings

3.2.1. Main pockets of investment

3.3. Porter’s Five Forces Analysis
3.4. Market dynamics

3.4.1.Drivers

3.4.1.1.Increases security
3.4.1.2.Increase in the number of water sports enthusiasts
3.4.1.3.Government initiatives for the promotion of water sports

Similar report :-
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David Correa
Allied Analytics LLP
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