The global hydro-flyers market to grow at a CAGR of 3.06% during the period 2017-2021.
Global Hydro-flyers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The global on-the-water sports gear and equipment market is expected to grow at a relatively faster rate than the other product segments of the global water sports gear and equipment market.
One trend in the market is introduction of novel water sports activities. Owing to the growing interest and participation in water sports activities, several novel water sports are being introduced. Among these sports, jet-powered hoverboards and inflatable catapults are garnering more interest.
According to the report, one driver in the market is innovations in product technology. Innovations in product technology are driving the global hydro-flyers market. Various vendors in the market are offering hydro-flyers with advanced technologies. The increasing number of launches of innovative water sports equipment is a key factor that is expected to significantly contribute to the market's growth during the forecast period. Competitors are now focused on the introduction of innovative product offerings with respect to design, color, shape, and weight to meet the needs of individual consumers.
Further, the report states that one challenge in the market is high price of hydro-flyers leading to preference for rentals. Hydro-flyers are relatively priced high, which tends to restrict potential market growth, especially among individuals engaging in flyboarding for recreational purposes.