Surface Water Sports Equipment Market by Product, Consumer Orientation, Price Range, Sales Channel

Description

List of Tables

[190 Pages Report] The Surface Water Sports Equipment Market size was estimated at USD 6.00 billion in 2023 and expected to reach USD 6.41 billion in 2024, at a CAGR 7.32% to reach USD 9.84 billion by 2030.

Surface water sports equipment encompasses a broad array of gear and apparatus designed to facilitate various recreational activities conducted on or above the surface of water bodies, such as lakes, rivers, and oceans. These sports are popular worldwide and include a range of activities, each requiring specialized equipment to ensure performance, safety, and enjoyment. Increased interest in water sports driven by health and wellness trends, the growth of coastal tourism, and international water sports events can significantly boost demand. Additionally, the development and availability of water sports equipment made using sustainably sourced and eco-friendly materials has further accelerated the growth of the industry. However, stringent safety regulations regarding the design and development of surface water sports equipment and growing incidences of equipment product recalls impede widespread production or utilization of the equipment. Additionally, the need for frequent maintenance and complexities associated with the production and utilization of certain devices and equipment hampers the adoption among end-users. However, key players are exploring the integration of smart technology into equipment to overcome technical and maintenance limitations and improve performance tracking. Furthermore, brand collaborations, social media marketing approaches, and partnerships with celebrities for advertising the latest equipment products to a wide consumer base have created new avenues of growth for the industry.

KEY MARKET STATISTICS
Base Year [2023]	USD 6.00 billion
Estimated Year [2024]	USD 6.41 billion
Forecast Year [2030]	USD 9.84 billion
CAGR (%)	7.32%

Product: Growing demand for versatile and safe board sports equipment among water sports enthusiasts

Board sports equipment includes items designed for activities where the participant is on a board, such as surfing, wakeboarding, paddleboarding, and windsurfing. Consumers who prefer board sports seek the thrill of balancing and maneuvering on waves or pulled behind a boat. The products in this category often emphasize durability, performance, and versatility for different water conditions. Paddle sports equipment caters to activities such as kayaking, canoeing, and stand-up paddleboarding (SUP), which require paddles to propel and steer. Enthusiasts of paddle sports often value the full-body workout and the ability to leisurely explore waterways. Demand for this equipment sometimes skews towards portability, comfort, and stability. Ski sports equipment is specific to water skiing, including activities such as slalom, trick, and jump skiing. This niche enjoys the attention of individuals driven by speed and complex maneuvers. Users often prioritize equipment based on fit, performance, and specific features that facilitate their type of skiing.

Consumer Orientation: Advancements in kids equipments for safety concerns

Adults engaged in surface water sports typically prefer equipment that provides durability, performance, and comfort. Preference among adult consumers often leans towards high-quality materials and advanced features that cater to enthusiastic amateurs and professionals alike. Kids' preferences in surface water sports equipment tend towards safety, simplicity, and fun elements. Parents and guardians prioritize purchasing equipment that ensures the safety of children, including items with built-in flotation and adjustable settings for growing bodies. Simplicity in surface water sports equipment design allows for easier handling and control, which is essential for beginners, and colorful, appealing aesthetics play a significant role in attracting young learners.

Price Range: Rising inclination towards mass segment for cost effectiveness

The mass segment of the surface water sports equipment market caters to the broad consumer base that prioritizes affordability and accessibility over premium features. The entry-level to mid-tier products that offer basic functionality and durability necessary for casual or beginner enthusiasts in the mass segment. Price points in the mass segment are strategically set to ensure maximum market penetration and higher volume sales. The premium segment of the surface water sports equipment market serves customers who are willing to pay a higher price for advanced features, superior build quality, and brand prestige. Consumers in the premium segment are typically experienced water sports enthusiasts or professionals prioritizing top-line equipment with improved performance, durability, and brand reputation and are willing to invest in equipment that offers these benefits.

Sales Channel: Increased preference for exclusive stores for personalized service experience

Exclusive stores offer customers a specialized shopping experience, offering high-quality, brand-specific equipment, and expert advice for purchasing surface water sports equipment. The personalized service, along with the opportunity to see, touch, and sometimes try the equipment, are important factors for shoppers inclined towards the exclusive stores. Hypermarkets and supermarkets cater to the mass market, often carrying a wide range of products under one roof. Hypermarkets and supermarkets appeal to shoppers looking for convenience and competitive pricing and are preferred by consumers who require mass surface water sports equipment. Wholesalers and distributors are the preferred channels for businesses such as rental shops, water sports instructors, or small retailers, as they offer large quantities of products at discounted rates.

Regional Insights

The Americas region, particularly the US and Canada, supports a thriving market for water sports and equipment driven by a strong economy and a culture that values outdoor recreation. The coastal states, with their extensive shorelines, have a particularly high concentration of water sports enthusiasts. Customer purchasing behavior in the Americas indicates a trend toward high-end, specialized equipment for serious hobbyists, as well as an increasing interest in eco-friendly products. There are also significant investments in promoting water safety and sustainable practices within this industry. EU countries have a robust market for surface water sports equipment, with coastal nations such as Spain, Portugal, and France leading in consumption. EU consumers are increasingly concerned with sustainability, and there is ongoing research and development aimed at creating more eco-friendly materials and manufacturing processes. Safety standards are also an important priority in the EU, leading to stringent regulations for surface water sports equipment. The APAC region is characterized by the presence of a growing middle-class population that is increasingly demanding premium leisure activities and equipment due to its higher disposable incomes. The preference for water sports equipment in this region is driven by cost-effectiveness and durability. Government support for promoting tourism activities and investments in water sports facilities has further fuelled the growth of surface water sports equipment in the APAC region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Surface Water Sports Equipment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Surface Water Sports Equipment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Surface Water Sports Equipment Market, highlighting leading vendors and their innovative profiles. These include AIRE Inc., Airhead by Aqua-Leisure Recreation, LLC, Akona Adventure Gear, Allen Brothers, Aqua Marina, Aquaglide, BeachBox, BELASSI GmbH, Bhawna Engineering Works, Blue Wave Products, Inc., Body Glove, BomBoard, Cyclops Marine Limited, HO Sports, Imagine Surf, Jetpilot, Naish International by Kubus Sports, O'Brien Watersports, Rae Sport Pvt Ltd., Rave Sports by Escalade Inc., Solstice Sports, SRR Aqua, SURFTECH, LLC, Tahe Outdoors, ThunderMonkey, Vanguard Inflatables, Wing Inflatables, and WOW Watersports.

Market Segmentation & Coverage

This research report categorizes the Surface Water Sports Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Board Sports Equipment
- Paddle Sports Equipment
- Ski Sports Equipment

Consumer Orientation
- Adults
- Kids

Price Range
- Mass
- Premium

Sales Channel
- Exclusive Stores
- Hypermarkets/ Supermarkets
- Wholesalers/ Distributors

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Surface Water Sports Equipment Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Surface Water Sports Equipment Market?

3. What are the technology trends and regulatory frameworks in the Surface Water Sports Equipment Market?

4. What is the market share of the leading vendors in the Surface Water Sports Equipment Market?

5. Which modes and strategic moves are suitable for entering the Surface Water Sports Equipment Market?

Product Code: MRR-957C47F9430B

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising expenditure on tourism activities and expansion of coastal tourism
  - 5.1.1.2. Growing demand for sustainable and eco-friendly water sports equipment
  - 5.1.1.3. Increasing water sports championships and tournaments across the world
- 5.1.2. Restraints
  - 5.1.2.1. Incidences of product recall of surface water sports equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements to improve the safety and performance of surface water sports equipment
  - 5.1.3.2. Adoption of social media marketing strategies and celebrity endorsements for advertising equipment
- 5.1.4. Challenges
  - 5.1.4.1. Need for frequent maintenance and complexities associated with development and usage
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing demand for versatile and safe board sports equipment among water sports enthusiasts
- 5.2.2. Consumer Orientation: Advancements in kids equipments for safety concerns
- 5.2.3. Price Range: Rising inclination towards mass segment for cost effectiveness
- 5.2.4. Sales Channel: Increased preference for exclusive stores for personalized service experience
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Surface Water Sports Equipment Market, by Product

6.1. Introduction
6.2. Board Sports Equipment
6.3. Paddle Sports Equipment
6.4. Ski Sports Equipment

7. Surface Water Sports Equipment Market, by Consumer Orientation

7.1. Introduction
7.2. Adults
7.3. Kids

8. Surface Water Sports Equipment Market, by Price Range

8.1. Introduction
8.2. Mass
8.3. Premium

9. Surface Water Sports Equipment Market, by Sales Channel

9.1. Introduction
9.2. Exclusive Stores
9.3. Hypermarkets/ Supermarkets
9.4. Wholesalers/ Distributors

10. Americas Surface Water Sports Equipment Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Surface Water Sports Equipment Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Surface Water Sports Equipment Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Red Sea Global partners with global water sports brand North Sails
- 13.3.2. Red Sea Global Launches New Water Sports and Diving Brands to Deliver Above and Below Water Experiences at The Red Sea and Amaala
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio