London, 16 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global wetsuits market 2015-2019, which is expected to grow at a CAGR of 4.15% during the forecast period of 2014-2019.
The recent increase in the number of people who are opting for recreational activities is driving the prospects of growth in this market. An increase in watersports and recreational activities such as surfing, diving, and water-skiing are expected to foster the demand for wetsuits. Adventure watersports attract individuals who want to take time off from their workload and relax. Outdoor recreational activities assist in reducing stress and also improve mental health.
“A rise in average life expectancy has been observed over the years, especially in developed economies. People with better standards of living in such nations are more likely to stay active longer and invest in high-quality sports goods,” says Faisal Ghaus, Vice President of Technavio.
“Increased emphasis on healthy lifestyles and continuous efforts of striking a balance between work and leisure has propelled the demand for outdoor sports activities.”
Key Market Drivers:
- Growing Occurrence and Participation Rate of Triathlon Events.
- Growing Demand for Women’s Wetsuits.
- Advances in Technology.
- Rise in Watersports Participation in Southeast Asia.
Key Market Trends:
- Rise in E-commerce.
- Increased Disposable Income.
- Shift toward Health Consciousness.
Key Market Vendors:
- Billabong International Ltd.
- O’Neill Inc.
- Patagonia Inc.
- Quiksilver Inc
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
