3% CAGR in In-the-Water Sports Equipment Market | Industry Size, Share, Global Analysis, Regional Trends, Opportunity Assessment, and Comprehensive Research Study till 2025

NEW YORK, Dec. 23, 2021 /PRNewswire/ -- North America and Europe registered high demand for water sports gear and equipment, and APAC experienced an increase in the sales of such equipment owing to the increasing popularity of water sports in the region.

The market is also growing in the Middle Eastern and Central American countries with an increase in the popularity of adventure and water sports.

Key In-the-Water Sports Equipment Market Report Highlights:

1. Market growth 2020-2025: USD 4.39 billion
2. Growth momentum & CAGR: Accelerate at a CAGR of about 3%
3. YoY growth (%): 1.66%
4. Performing market contribution: North America at 44%
5. Key consumer countries: US, UK, France, China, Canada

Want more data and information that is not included in this report? Reach out to our analysts and get this report can be personalized according to your needs. Speak to an Analyst.

Regional Market Analysis

North America will register the highest growth rate of 44% among the other regions. Therefore, the in-the-water sports equipment market in North America is expected to garner significant business opportunities for the vendors during the forecast period. The US and Canada are the key markets for in-the-water sports equipment market in North America.

• The participation rate in water sports is the highest among the millennials and is about 20%. The millennials are followed by Gen Z, with an average participation rate of about 29%. The popular water sports in the region are canoeing, fishing, kayaking, rafting, sailing, scuba diving, snorkeling, water polo, stand-up paddle-boarding, surfing, water skiing, and wakeboarding.
• The market for in-water sports equipment will also grow due to the increasing relaxation of lockdown regulations and the opening of sports clubs, water sports events, and others. This will drive the need for in-water sports equipment and accessories, which will concurrently drive the market in focus during the forecast period.

For Additional Information about the regional market: Request for a free sample report.

Key Vendors and Vendor Strategies

adidas AG, Arena SPA, Baden Sports Inc., Boardriders Inc., KAP7 International, Mikasa Corp., Nike Inc., Pentland Brands Ltd., Turbo Swim, and Under Armour Inc. among other are a few of the key vendors in the In-the-Water Sports Equipment Market.

• The business segments of adidas AG involves Footwear, Apparel, and Hardware. The company offers female swimsuits, male briefs, goggles, and others.
• Arena SPA offers swimwear, equipment, sportswear and others for women, men, girls, and boys. The company also offers racing swimsuits, training swimwear, shaping swimwear, beach wear, goggles, caps, and others.
• Baden Sports Inc. offers water polo sports equipment which have been consistently used by sports champions.

Download our free sample report to get a brief understanding about various other vendors and the vendors strategies.

Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the In-the-Water Sports Equipment Market.

• Technological advances in water sports equipment:
• The rise in the launch of innovative water sports equipment, including in water sports equipment, is expected to contribute to the growth of the market during the forecast period. The key competitors in the market are innovating their products in terms of design, color, shape, and weight to meet the needs of individual consumers. The demand for water sports equipment is increasing as the number of beginners transitioning to seasoned recreational water sports enthusiasts is rising. Thus, many water sports equipment manufacturers are offering new lightweight and advanced equipment to cater to their requirements. Some examples of technologically advanced swimwear include thermal swimwear and UV-protection swimsuits.

To know about a few other market drivers, trends, and challenges.

Download our free sample report

Here are Some Similar Topics-

Life Jacket Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025: The life jacket market has the potential to grow by USD 1 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 6.54%. Download Exclusive Free Sample Report

Scuba Diving Equipment Market by Product, Distribution Channel, and Geography - Forecast and Analysis: The scuba diving equipment market has the potential to grow by USD 537.80 million during 2020-2024, and the market's growth momentum will accelerate at a CAGR of 3.42%. Download Exclusive Free Sample Report

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio