Global Watersports Gear and Equipment Market Overview: 2020-2027
Global Watersports Gear and Equipment Market is anticipated to reach US$XX billion by 2027 from US$XX in 2019, with the CAGR of XX% during the forecast period.
Water Sports equipment refers to a contrivance, frame or other device that a person may stand, lie, and sit upon. Watersports gear and equipment is primarily used in the water for the creation or sports, and not necessarily for transportation purpose. The gears include dry suits, safety helmets, wetsuits, wrist dive computer, swim watch, swim masks & goggles, and others used in the water sports games such as scuba diving, rafting, swimming, free diving, snorkeling, and others. Watersports gear and equipment excludes the clothing specifically used or any other items worn on the body except for wetsuit, and life jacket. Moreover, watersports can be an excellent mechanism for disabled people especially with mobility difficulties to provide physical activity opportunities.
The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, by equipment and applications.
Factors such as increasing number of water sports enthusiasts and increased consciousness towards healthy lifestyles are majorly driving the water sports gear and equipment market across the globe. Moreover, watersports can support economic development in the areas having access to inland water bodies like rivers, and lakes as well as coastal regions. Government initiatives for promoting water sports and technological advancement in the water sports equipment are contributing to the market growth. Furthermore, market players are focusing towards launching IOT (Internet of Things) enabled gears incorporating new features to remain competitive in the market.
Growing number of watersports activities at various tourist places across the world are anticipated to aid the market growth during forecast period. On the other hand, low penetration of watersports gear and equipment in developing regions is expected to hinder the market growth up to certain extent. However, increased demand for eco-friendly water sports gears and companies planning to invest more into the product development, production, and market share of water sports gear and equipment is likely to create ample opportunities for the market players over the forecast period.
Similarly, Global Watersports Gear and Equipment Market drivers and restraints are covered in the MMR report by region since each region has different market dynamics. Demand drivers and restraints are covered in a separate chapter by keeping the user’s convenience in mind. Drivers are divided by demand-side drivers and supply side.
Covid-19 impact on the global watersports gear and equipment market:
Travel and tourism industry witnessed a massive fall of international demand and became the most affected sectors amid global travel restrictions by many governments. World Tourism Barometer stated that, international tourist arrivals fell by 72% during January 2020 – October 2020 owing to the travel restrictions. Sudden downfall in the number tourists and travelers hampered the growth of watersports gear and equipment market.
Global Watersports Gear and Equipment Market
Based on product type, water sports clothes segment accounted for the largest market share in 2019, growing at a CAGR of XX%. By age group, adult segment is projected to grow at a highest CAGR of xx% during the forecast period 2019–2027 and to reach market share of $xx Mn by 2027 in the global water sports gear and equipment market. Water sports is a health enhancing activity which decreases the risk for chronic diseases and can be carried out by any person irrespective of the body type and size. This has accelerated the number of participants in water sports activities, which in turn is driving the demand for water sports gear and equipment in the market.
Global Watersports Gear and Equipment Market 1
North America is expected to account for the largest market share of xx% during the forecast period.
North America is expected to hold the largest market share during the forecast period due to the presence of major players like Mikasa, Nike, and Apollo Sports as well as availability of a wide range of water sporting equipment. Asia Pacific is expected to be the fastest growing region during the forecast period. Growth is attributed to the rapid increase in the young population and rising popularity of water sports activities like surfing, water polo, snorkeling, swimming, and scuba diving coupled with the health benefits offered by it. Europe and MEA are expected to generate the significant market share in global watersport gear and equipment market during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Watersports Gear and Equipment Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
Scope of Global Watersports Gear and Equipment Market
Global Watersports Gear and Equipment Market Segmentation by Product Type
• Water Sports Clothes
• Swim Fins
• Swim Mask & Goggles
• BCD (Buoyancy Control Device)
• Life Jackets
• Safety Helmets
Global Watersports Gear and Equipment Market Segmentation by Age Group
Global Watersports Gear and Equipment Market Segmentation by Distribution Channel
• Specialty Store
• Franchise Store
• Online Store
Global Watersports Gear and Equipment Market Segmentation by Region
• North America
• South America
• Middle East & Africa
Global Watersports Gear and Equipment Market Major Players
• Cressi Sub S. P. A.
• Under Armour, Inc.
• Apollo Sports USA Inc
• Aquatec – Duton Industry Co., Ltd
• Sherwood Scuba
• Aqua Lung International
• Johnson Outdoors Inc.
• Tabata Co., Ltd.
• Mares S.p.A
• O’Brien Watersports
• Oneill Retail Europe B. V
• Puma SE
• Speedo International Ltd
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Global Watersports Gear and Equipment MarketSource: Global Watersports Gear and Equipment Market
Global Watersports Gear and Equipment Market