Water sports gear and equipment include gear and equipment for any sports activity conducted in water, under water, and on water. The global water sports gear and equipment market is expected to grow at a CAGR of 5.37% during the forecast period. This growth can be attributed to the increasing interest for water tourism, including sailing and boating.
The report 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.
One of latest trends in the market is artificial water sports experiences. For every version of an outdoor adventure sport, an indoor version of the same is available today. This will likely become an important trend in the global water sports gear and equipment market during the forecast period. Water sports equipment are costlier in comparison to the other traditional sports equipment available in the market. Also, for most water sports, enthusiasts or athletes need to travel long distances during proper seasons to participate in that particular sports activity. Hence, the availability of these man-made facilities for the same is expected to boost the market's growth for significantly.
According to the report, one of the primary drivers in the market is increasing popularity and subsequent participation rates in water sports. Water sports like scuba diving, surfing, and snorkeling have become an inherent part of recreational activities over the past decade. Recently, various government bodies have actively started emphasizing the promotion of water sports to increase the revenue generated from the tourism industry across the globe. Many promotional campaigns are being run by both local governments and tour operators in several countries, which, in turn, are resulting in the growth of the water sports industry at large. Changing demographics and lifestyles, along with an increase in recreational expenditures, have been aiding in increasing the popularity of outdoor sports.