According to the latest market research study released by Technavio, the global SUP board market is expected to grow at a CAGR of over 15% 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 SUP board market based on product type:
Global SUP board market shares by product type 2015
|
Paddle boards |
92.82% |
|
Paddles |
5.35% |
|
Paddle boarding accessories |
1.83% |
Source: Technavio
Global paddle boards market
In 2015, paddle boards accounted for the highest share of around 93% in the global SUP board market and is expected to grow at the fastest pace, registering the growth rate of around 15% during the forecast period. The rapid growth of this segment is due to the high costs of paddle boards and being the most necessary product for pursuing and practicing the sports. Paddle boards are mainly composed of the main body of the board and the paddle board fins. The kind of paddle boards and the number of fins attached to the paddle boards are dependent on their usage. Paddle boards are usually categorized as all-round paddle boards, race paddle boards, fitness or yoga paddle boards, and surf paddle boards.
“Among various types of paddle boards, the all-round paddle boards are the most frequently used paddle boards. All-round paddle boards are mostly used by beginners and for fishing purposes. This type of paddle board provides the rider with complete stability and sturdiness, allowing beginners to learn swimming efficiently.” says Poonam Saini, a lead analyst at Technavio for research on outdoor gear.
These numerous kinds of SUP boards enable different riders to adopt a style of paddle boarding that they are most comfortable with, allowing the market for SUP boards to grow freely among a variety of users.
Global paddles market
The global paddles market is expected to post a CAGR of around 14% during the forecast period. Paddles are designed for the different budget, abilities, heights, and the kind of paddle boarding being practiced. Plastic and aluminum paddles are cheaper options in the market whereas carbon fiber shafts and blades are much lighter, offering better performance. The paddle of a SUP board bears a greater resemblance to a canoe paddle than a kayak paddle. Like a canoe paddle, the paddle of a SUP board has only one blade and is therefore used for paddling a single side of the boat. The paddle of a SUP board has three main parts, such as the handle, shaft, and the throat and are quite long. The handle of the paddle is mainly the part that a rider holds on to while paddle boarding. However, the preference for paddle handle is merely a choice of comfort and convenience. The weight of a paddle makes a huge impact on the performance of the paddle, the lighter materials being much easier to maneuver in the water. However, paddles may also be constructed out of a combination of different materials.
Global paddle boarding accessories market
Paddle boarding accessories in the global SUP board market include leashes and type III personal floatation devices (PFDs). The global paddle boarding accessories market occupies the least share in the overall market. SUP boarders are also instructed to wear PFDs under a few circumstances. Type III PFDs are mainly designed for inland conditions; such PFDs are worn for specific activities like fishing vests or kayaking and SUP boarding life jackets. They are designed to ensure the wearer maximum comfort and continuous wear and to enable maximum mobility. These PFDs do not turn the wearer in the face-up position; instead, these keep the wearer floating in the vertical position.
The top leading vendors operating in the global SUP board market are:
- BIC Sport
- Naish
- Red Paddle
- Starboard
- Tower
Other prominent vendors in the market include AIRHEAD SUP, Aqua Marina, Imagine Paddle Surf Co., RAVE Sports, Solstice Sports, and Surftech.
A more detailed analysis is available in the Technavio report titled, ‘Global SUP Board Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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