PUBLISHER: Grand View Research | PRODUCT CODE: 1553416
PUBLISHER: Grand View Research | PRODUCT CODE: 1553416
The global canoe and kayak equipments market is anticipated to reach USD 727.8 million by 2030 and is anticipated to grow at a CAGR of 4.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rise of rental and sharing economy models is contributing to the market growth. Rental services provide access to high-quality equipment for short-term use, making paddling more accessible to a broader audience. In addition, some companies offer subscription models or membership programs that allow consumers to access a variety of equipment throughout the year. This flexibility enables new participants to participate in the sport and can eventually lead to increased sales as renters decide to purchase their gear.
Moreover, various governments are investing in developing and maintaining outdoor recreation infrastructure, including water trails, boat launches, and paddling parks. These investments improve access to paddling locations and enhance the overall paddling experience. In addition, government programs promoting physical activity and outdoor recreation encourage more people to take canoeing and kayaking. By facilitating access and providing incentives, these policies help stimulate interest in paddling sports and drive demand for related equipment.
Moreover, the role of educational programs and certification courses in promoting paddling sports is driving the market growth. Organizations such as the American Canoe Association (ACA) and the British Canoeing Association offer comprehensive training programs and certifications that educate paddlers on techniques, safety practices, and environmental responsibility. These programs equip paddlers with the necessary skills and knowledge. As a result, more individuals are encouraged to take canoeing and kayaking, knowing they can receive proper training and certification, which drives demand for quality equipment.