The market for water sports products is expected to reach $58.5 billion by the year

Selbyville, Del., Oct. 15, 2024 (GLOBE NEWSWIRE) —

Water sports products Market size was valued at $38.4 billion in 2023 and is expected to grow at a CAGR of over 4.9% from 2024 to 2032, driven by increasing enthusiasm for water sports.

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More and more people are gravitating towards outdoor adventures and taking part in activities such as surfing, kayaking, paddleboarding and snorkeling. This increased interest is largely due to the desire for fitness, stress relief and social interaction. Data from the National Marine Manufacturers Association suggests a 7% increase in watersports participation over the past five years. As enthusiasm for these activities grows, so does the appetite for the associated equipment, clothing and accessories. Additionally, social media plays a pivotal role in portraying watersports as both fun and attainable, encouraging wider participation and investment in premium equipment.

The entire water sports products market is classified based on product type, age group, end use, distribution channel and region.

The industry divides its offering into surfing products, safety products and diving products. In 2023, the security products segment emerged as the leader with sales of $19.41 billion and is forecast to reach $30 billion by 2032. The dominance of safety products in the water sports sector can be attributed to increased safety awareness among participants and strict government regulations. As water activities become more popular, so does the demand for protective equipment – from life jackets and helmets to personal flotation devices (PFDs).

Segmenting the water sports products market by end users reveals two categories: individuals and commercial companies. In 2023, the commercial sector commanded a significant market share of 65% and is expected to grow at a CAGR of 4.8% during the forecast period. The commercial segment, which includes water sports resorts, adventure tourism and leisure centers, plays a central role in the water sports product landscape. These companies make significant investments in safety equipment, boats, kayaks and other equipment to serve their extensive customer base.

North America leads the water sports products market, generating $13 billion in revenue in 2023. Sales are expected to reach $20 billion by 2032. The rich culture of water sports activities in the region, coupled with high participation rates, is driving the industry forward. North America’s diverse waters – from expansive oceans to tranquil lakes – allow for a variety of activities, including kayaking, paddleboarding and jet skiing. Cultural bias further reinforces this approach, as activities such as surfing, wakeboarding and sailing are firmly anchored in the region’s lifestyle.

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Major players in the water sports products market include Airhead Sports Group, Aqua Lung International, Beuchat, Body Glove, Cressi SpA, Hobie Cat Company and Hurley. Inc, Liquid Force, Mares SpA, Naish International, O’Brien Watersports and Tabata Co., Ltd. among other things.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology and Scope

1.1 Market scope and definition

1.2 Basic estimates and calculations

1.3 Forecast calculation

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid Sources

1.4.2.2 Public sources

Chapter 2 Summary

2.1 Market 360⁰ Summary, 2018 – 2032

2.2 Business trends

2.3 Regional trends

2.4 Product Type Trends

2.5 Distribution channel trends

Chapter 3 Market Insights

3.1 Industry ecosystem analysis

3.2 Important news and initiatives

3.2.1 Partnership/Collaboration

3.2.2 Merger/Acquisition

3.2.3 Investment

3.2.4 Product launch and innovation

3.3 Regulatory landscape

3.4 Impact forces

3.5 Analysis of consumer purchasing behavior

3.5.1 Demographic development

3.5.2 Factors that influence the purchasing decision

3.5.3 Acceptance of consumer products

3.5.4 Preferred distribution channel

3.5.5 Preferred Price Range

3.6 Growth drivers

3.6.1 Growing interest in water sports activities

3.6.2 Expand tourism and leisure activities:

3.7 Industry Pitfalls and Challenges

3.7.1 Fluctuations in demand depending on the season

3.8 Analysis of growth potential

3.9 Raw material analysis

3.10 Trading Analysis

3.10.1 Export data

3.10.2 Import data

3.11 Porter’s analysis

3.12 PESTEL analysis

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