Overview of the global water sports gear and equipment market

Technavio’s market research analyst predicts the global water sports gear and equipment market to grow at a CAGR of more than 5% between 2016 and 2020. The market for water sports gear and equipment is primarily driven by the rising curiosity of consumers in outdoor recreational activities, accessibility to a wide range of water sporting equipment and facilities, and augmented e-commerce businesses, especially in the Americas. Such increased participation rates across all age groups for water sports have led to the establishment of many water sporting facilities across the globe. Recently, various government bodies have actively started accentuating the promotion of water sports to increase the revenue generated from the tourism industry worldwide. With the growing inclination towards recreational water sports, the global water sports gear and equipment market will witness a significant growth over the next four years.

In 2015, the global water sports gear and equipment market was dominated by the Americas, which is also expected to be the fastest-growing region in the market during the forecast period. Much of the region’s growth can be attributed to the rising popularity of soft adventure sports, including some water sports. The millennial population segment accounts for the highest participation in water sports. The most popular water sports in the region are canoeing, fishing, kayaking, rafting, sailing, scuba diving, snorkeling, stand-up paddle boarding, surfing, water skiing, and wakeboarding.

Competitive landscape and key vendors

The presence of several big and mid-sized players makes the global water sports gear and equipment market extremely competitive and fragmented. Several vendors in the market are also focusing on revamping their production techniques and increasing efficiency and innovation. Over the next four years, this market is anticipated to witness a sizable growth in production capacity as most players are embracing advanced technological methodologies of producing water sports gear and equipment. To increase their shares in the global market, several companies are also focusing on diverse strategies such as mergers and acquisitions.

Leading vendors in the market are 

• American Underwater Products
• Aqua Lung
• Cressi
• Tabata
• Wilderness Systems

Other prominent vendors in the water sports gear and equipment market include Apollo Sports USA, AQUATEC - DUTON INDUSTRY, BAUER COMPRESSORS, Beuchat International, Billabong, Body Glove, Dive Rite, Johnson Outdoors, Mares, and Sherwood Scuba.

Segmentation by sports and analysis of the water sports gear and equipment market

• Underwater sports gear and equipment market
• In-the-water sports gear and equipment
• On-the-water sports gear and equipment

The underwater sports gear and equipment segment dominated the market and accounted for the largest market share during 2015. Underwater sports gear and equipment include all equipment and gear used for snorkeling and scuba diving. Scuba diving is the highest revenue contributing segment in this market owing to the high sales of scuba diving apparel, especially wetsuits. With the rapid popularity and usage of diving computers and gauges, this market segment will witness rapid growth rate over the forecast period.

Product segmentation and analysis of the water sports gear and equipment market

• Water sports equipment
• Water sports apparel

The water sports equipment segment will be the major revenue generating segment in the market and will continue to dominate the market during the forecast period.  Water sporting equipment includes equipment for sports such as swimming, water aerobics, water polo, snorkeling, scuba diving, boating, jet skiing, canoeing, paddle boarding, rowing, surfing, rafting, kayaking, wakeboarding, water skiing, knee boarding, windsurfing, sailing kite surfing, snow skiing, and deep-sea fishing. With the rising popularity of different types of water sporting activities like paddle boarding, wakeboarding, and shoe skiing, the water sporting equipment segment will grow considerably.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global water sports gear and equipment market?
• What are the key market trends impacting the growth of the global water sports gear and equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global water sports gear and equipment market?
• What are the market opportunities and threats faced by the vendors in the global water sports gear and equipment market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
• What are the key outcomes of the five forces analysis of the global water sports gear and equipment market?

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

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• Global Swimwear Market 2016-2020