Global Paddle Sports Equipment Market 2017-2021

Overview of the global paddle sports equipment market

Technavio’s market research report predicts that the global paddle sports equipment market will grow at CAGR of nearly 13% during the forecast period. One of the primary drivers of this market’s growth is the rising number of water sporting facilities globally. Seen as a new business opportunity in several coastal cities and regions with water bodies, the interest in recreational water sporting activities is growing significantly. On the other hand, numerous initiatives are being undertaken for the promotion and expansion of water sporting facilities globally. For instance, Andhra Pradesh in India launched several water sports facilities in the region like parasailing, rafting, water skiing, and speed boating. In addition to that, the state also introduced activities like seaplanes and amphibious vehicles, Jeep parasailing, and paramotoring at various destinations, which is likely to boost this market’s growth.

One of the latest trends that will gain traction in the market is the fitness benefits associated with paddle sports. Fitness benefits from rafting and canoeing and kayaking provide effective cardiovascular workout and strength training to build muscles of the shoulders and arms. Moreover, the sport also offers improvements in balance and coordination with the regular rafting activities and many have adopted rowing, canoeing, kayaking, and pilates as other fitness workouts. Thus, watersports fitness activity is used as a unique selling proposition to market products in an efficient manner, which will further add to this market’s growth.

Competitive analysis and key vendors

The vendors in the largely competitive global paddle sports equipment market mainly compete based on factors like price, quality, brand, and variety. To gain a competitive edge over the others, it becomes important for the suppliers to be unique with their product offerings through a clear and distinguished value proposition. Technological advancements and shift in the consumer preferences in the markets pose as hurdles for the vendor offerings, and different companies have varied strategies to hike their market shares.

Key vendors in the market are:

• AIRE
• BIC Sport
• HYSIDE inflatables
• NRS
• SOTAR

Other prominent vendors include Aqua Marina, Kwik Tek, Malibu Kayaks, Johnson Outdoors, RAVE Sports, and Vanguard Inflatables.

Segmentation by product and analysis of the paddle sports equipment market

• Standup paddle boarding equipment
• Canoeing and kayaking equipment
• Rafting equipment

During 2016, the standup paddle boarding equipment segment led the global paddle sports equipment market and is anticipated to dominate the market during the forecast period. The standup paddle boarding equipment market comprises of the sub-segments like paddle boards, paddles, and paddle boarding accessories, of which, the paddle board segment will lead the market as it is an essential component for continuing and practicing the sport. Also, there are a variety of paddle boards available in the market, which will drive this segment’s growth over the coming years. 

Geographical segmentation and analysis of the paddle sports equipment market

• Americas
• Europe
• ROW

In terms of geography, the global paddle sports equipment market was led by the Americas during 2016 and is expected to grow at a quicker pace in the next four years. The growth of this market in the region is attributed to the increase in participation rates in paddle sports such as paddling, canoeing, kayaking, rafting, and standup paddle boarding. Furthermore, the involvement of the teenagers and establishing championships for paddle sports will also help in promoting and developing proper infrastructure for the growth of the sport which, in turn, will assist the growth of global paddle sports equipment market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global paddle sports equipment market?
• What are the key market trends impacting the global paddle sports equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global paddle sports equipment market?
• What are the market opportunities and threats faced by the vendors in the global paddle sports equipment market?
• Trending factors influencing the market shares of the Americas, Europe, and ROW.
• What are the key outcomes of the five forces analysis of the global paddle sports equipment market?​

Technavio also offers customization on reports based on specific client requirement.

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