New Market Research Projects Americas to be the Fastest Growing Region in the Global Canoeing and Kayaking Equipment Market

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Technavio, a tech-focused market research companyt, has published a new analysis on the global canoeing and kayaking equipment market, which is expected to grow at a CAGR of more than 3% during the forecast period 2017-2021.

Based on geographical segmentation, Technavio market researchers stegment the global canoeing and kayaking equipment market into the following key regions: the Americas, Europe, and ROW.

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Canoeing and kayaking equipment market in the Americas: The increasing participation rates in paddle sports, including paddling, canoeing, kayaking, rafting, and stand-up paddle in this region will fuel the growth of the market. In 2016, America recorded the highest participation in canoeing and kayaking events in the entire world. Among these sports, rafting gained significant traction, with about 25 million people participating in the sport during 2015. The increasing popularity of this sport will make the Americas the fastest growing region in the market.

According to Brijesh Kumar Choubey, a lead analyst at Technavio, specializing in research on outdoor gear, “The establishment of various championships and tournaments will fuel the growth of the canoeing and kayaking equipment market in the Americas. The rising number of teenage enthusiasts to engage in the recreational sports activities will boost the demand for this equipment in the region.

Canoeing and kayaking equipment market in Europe: The presence of water sporting sites spread across Europe makes it the second-largest revenue generating region in the global market. France, Germany, Turkey, Italy, Spain, and Belgium are major water sporting sites in the European market. The advent of water tourism and adventure tourism in the region is encouraging the Government to endorse events and attract more tourist to the European market.

Canoeing and kayaking equipment market in ROW: Emerging countries like South Korea, Australia, Indonesia, Hong Kong, Taiwan, Thailand, and Singapore are attractive water sports destination and are fuelling the growth of the market in this region. Other developing countries like China and India are still evolving in the market for water sports and are expected to gain momentum during the forecast period.

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The top vendors operating in the global canoeing and kayaking equipment market are:

  • AIRE
  • BIC Sport
  • NRS

Other prominent vendors in the market include AIRHEAD, Aqua Marina, Ocean Kayak, Malibu Kayaks, Rave Sports, and Vanguard Inflatables.

A thorough study is available in the Technavio report titled, ‘Global Canoeing and Kayaking Equipment Market 2017-2021’. Technavio also customizes reports by additional regions and specific sectors upon request.

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