In-the-Water Sports Equipment Market Size Is Set To Grow By $4.88 Bn From 2024-2028
The global in-the-water sports equipment market size is estimated to grow by USD 4883.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 3.51% during the forecast period.
Key Market Trends Fueling Growth
In-the-water sports, including swimming and water polo, have been prominent at the Olympics since their inception. Equipment for these sports, such as inflatable catapults, water jetpacks, and polo balls from brands like Mikasa and Adidas, enable participation and recognition in international competitions. Other equipment like surfboards, kayaks, and water polo clothing from brands like Billabong and Under Armour cater to leisure and adventure activities.
Market Challenges
The global in-the-water sports equipment market is facing restrictions due to FINA’s ban on high-tech swimsuits made from non-permeable materials like nylon composites and spandex. This has affected product lines in swimming, water polo, and other sports, impacting brands such as Adidas, Mikasa, Baden, Billabong, Turbo, and Under Armour. The market includes adventure sports, surfing, snowboarding, and recreational activities in swimming pools and resorts. Key trends are ticketing merchandise and guided tours for water sports like flyboarding.
Research Analysis
The In-the-Water Sports Equipment Market encompasses a wide range of products for various water sports activities, including surfing and snowboarding, enabled by Western media and Television shows. Key equipment include electric surfboards like Zapata Flyboard, inflatable catapults for flyboarding, and water jetpacks. These sports have gained popularity among millennials, leading to increased demand for water sports ticketing, merchandise, and resort facilities. Additionally, recreational activities such as kayaking, diving, swimming, and team sports are also driving market growth.
Market Research Overview
The In-the-Water Sports Equipment Market encompasses a diverse range of products used for various water activities. These include surfboards, wetsuits, fins, snorkeling equipment, diving gear, kayaks, and paddleboards. Surfing sports involve surfboards and wetsuits for riding ocean waves. Swimming and snorkeling require wetsuits, masks, fins, and snorkels. Diving activities involve diving suits, tanks, regulators, and other essential equipment. Kayaking and paddleboarding involve kayaks or paddleboards, paddles, and necessary safety gear. Producers of these sports equipment cater to the needs of both recreational and professional users, ensuring top-notch quality and functionality. The market for in-the-water sports equipment continues to grow, driven by increasing consumer interest and advancements in technology.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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