According to the latest market research study by Technavio, the global paddlesports equipment market is predicted to grow at a CAGR of about 15% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global paddlesports equipment market regarding revenue and developing market trends. The report also consists of an up-to-date study and forecasts for various market sectors and all geographical regions.
Technavio research analysts categorize the market based on the product type
Global paddle boards market: The growth of the paddle board segment is attributed to the high requirement for these products for pursuing and practicing the sport. The vendors in the market are introducing designs and the number of fins attached to the paddle board depending on the intended use of this equipment. The various types of boards that are available in the market are round paddle boards, fitness or yoga paddle boards, race paddle boards, and surf paddle boards. The round paddle boards are the most common products used in the market, and they find high application among beginners and for fishing purposes.
“The vendors are using new materials to manufacture lightweight paddle boards to offer premium products to gain a competitive advantage over other players in the market. The race paddle boards that are being offered in the market have customizations such as a displaced hull, which allows the riders to slice through the water,” says Brijesh Kumar Choubey, a lead analyst at Technavio for research on general retail goods and services.
Global paddles market: The manufacturers are launching various products in the market that are customized as per the requirements of the consumers. These paddles are designed for different heights, abilities, budget, and the type of paddle boarding being practiced. The players are also using innovative materials like carbon fiber shafts and blades, which are much lighter and offer better performance. Such innovations and development will foster the growth in this market segment during the forecast period.
Global paddle boarding accessories market: The various accessories that fall in this market segment include leashes and type III personal floatation devices (PFDs). These different products offer additional safety and prevent the separation of the rider from the paddle boards. The vendors in the market are designing products that allow continuous wear and enable optimum mobility while ensuring maximum comfort to the rider.
The top vendors operating in the global paddlesports equipment market are:
- AIRE
- BIC Sport
- HYSIDE Inflatables
- NRS
- SOTAR
The other prominent vendors in the market include Aqua Marina, Kwik Tek, Malibu Kayaks, Johnson Outdoors, RAVE Sports, and Vanguard Inflatables.
A complete breakdown is available in the Technavio report titled, ‘Global Paddlesports Equipment Market 2017-2021’. Technavio also customizes reports by additional regions and specific segments upon request.
Other related reports:
- Global Jet Skiing Equipment Market 2017-2021
- Global Canoeing and Kayaking Equipment Market 2017-2021
- Global Water Sports Gear and Equipment Market 2016-2020
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