According to the latest market research study released by Technavio, the global water sports gear and equipment market is expected to grow at a CAGR of more than 5% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global water sports gear and equipment market based on sports:
Global water sports gear and equipment market share by sports 2015
|
In the water |
65.30% |
|
On the water |
27.70% |
|
Underwater |
7.00% |
Source: Technavio
The top three revenue contributing sports segments are discussed below:
Global in-the-water sports gear and equipment market
The in-the-water sports segment accounted for around 65% share of the global water sports gear and equipment market and is expected to grow during the forecast period owing to the increasing popularity and adoption of these sports. This segment includes all equipment and gear used for water aerobics, swimming, and water polo. The swimming gear and equipment include swimwear, swimming goggles, and swimming caps. The rising interest in swimming as an exercise, as a sport, and as a leisure activity will boost the market for swimming gear during the forecast period. Among various regions, APAC has the maximum adoption of swimming equipment.
“To come up with innovations and unique styles such as the moderate swimwear, vendors of the swimwear market are investing significantly. They are also introducing various new options for men’s swimwear. For example, La Perla’s men’s swimwear line includes products like swim jackets and swim vests. The swimwear segment though occupies a small portion at present, but it holds immense growth potential for the forecast period,” says Arushi Thakur, an industry expert at Technavio for research on outdoor gear.
Among various segments of swimming gear, the swimming caps is quite popular due to the high replacement rates of swimming caps, while the swimming goggles market is still growing as many people still prefer swimming without goggles. However, the rising awareness of the harmful effects of chlorine present in water, to the eyes will upsurge the demand of goggles during the forecast period. Water aerobics equipment includes aqua noodles, webbed glove, belts, cuffs, and dumbbells. The water polo equipment includes water polo goals, water polo caps, and water polo balls. This sport is popular in several European countries such as Canada, China, Brazil, Australia, and the UK.
Global on-the-water sports gear and equipment market
On-the-water sports gear and equipment market is the second-highest revenue generator of the global water sports gear and equipment market and is anticipated to grow at a fast rate in the coming years. The prevalent on-the-water sports are kayaking, jet-skiing, canoeing, surfing, and stand-up paddle boarding. Surfing is as one of the highest revenue generators in the global market and requires only a surfboard to perform. Canoeing is also a quite popular sport which involves paddling a canoe with a single-bladed paddle. Jet skiing is another famous water sport with a huge number of fans worldwide, as the sport does not require much technical skills. Stand-up paddle boarding has also gained prominence worldwide for outdoor racing on lakes, recreation, sightseeing, fitness, fishing, and paddle board yoga. The growing popularity of such water sports is expected to propel the market’s growth.
Global underwater sports gear and equipment market
Underwater sports gear and equipment include all equipment and gear used for scuba diving and snorkeling. Scuba diving equipment include products such as drysuits, rebreathers, wetsuits, buoyancy control devices (BCDs), computer and gauges, and masks among other significant equipment like weights and belts, tanks, and fins. Drysuits are made to provide divers with advanced thermal protection and are best for cold water, but can also be used in warmer water bodies. Rebreathers, on the other hand, include products like regulators, snorkels, and octopus and is used by scuba divers to breathe underwater. The BCD jackets are worn by divers to preserve neutral buoyancy under water, as these jackets have bladders. Similarly, wetsuit’s materials keep the diver warm by trapping a small amount of water between the suit and the diver’s skin, which then gets heated by the diver’s body. In the computer and gauges section, the dive computers can monitor all the aspects of diving, while the diving gauges keep track of how much air supply is left and how deep a diver is underwater. Similarly, compasses keep track of the relative position of the diver to the boat, while the masks are used to create an air space between the diver’s eyes and the surrounding water, which helps the diver to see clearly. Snorkeling equipment include products such as snorkels, snorkeling vests, snorkeling masks, snorkeling fins, and underwater cameras. A snorkeling mask provides one with an underwater view, while snorkeling fins are used for underwater locomotion. A snorkel, on the other hand, is used by snorkelers to inhale air from above the water surface while being submerged under water.
The top leading vendors operating in the global water sports gear and equipment market are:
- American Underwater Products
- Aqua Lung International
- Cressi
- Tabata
- Wilderness Systems
Other prominent vendors in the market include Apollo Sports USA, AQUATEC – DUTON INDUSTRY, BAUER COMPRESSORS, Beuchat International, Billabong, Body Glove, Dive Rite, Johnson Outdoors, Mares, and Sherwood Scuba.
A more detailed analysis is available in the Technavio report titled, ‘Global Water Sports Gear and Equipment Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Diving Suit Market 2016-2020
- Global Sports and Fitness Wear Market 2016-2020
- Global Scuba Diving Equipment Market 2016-2020
- Global Swimwear Market 2016-2020
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