Research Nester published a report titled “Watersport Accessories Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global watersport accessories market in terms of market segmentation by product, distribution channel, buyer type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global watersport accessories market is anticipated to grow with a CAGR of 2.6% during 2021-2028. The market is segmented by product into footstraps, leashes, harnesses, traction pads, and others, out of which, the leashes segment registered the largest market revenue of USD 1359.3 Million in 2019 and is further expected to reach USD 1383.2 Million by the end of 2028. The market is also segmented on the basis of distribution channel into online and offline. Amongst these, the online segment is expected to grow with the highest CAGR of 3.5% during the forecast period.
The global watersport accessories market is estimated to garner a revenue of USD 3038.1 Million by the end of 2028, up from a revenue of USD 2920.7 Million in 2019. Increasing concern for watersport related safety, and the increasing participation for watersport activities worldwide are some of the major factors anticipated to drive the market growth during the forecast period. Moreover, the rise in trade of watersports equipment is also anticipated to accelerate the market growth.
The global watersport accessories market is segmented on the basis of region into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America is anticipated to attain the largest market revenue of USD 1076.7 Million by the end of 2028, up from a revenue of USD 1058.5 Million in 2019, by growing with a CAGR of 2.3% over the forecast period.
Growing Awareness for Watersport Safety
The United States Coast Guard, in one of its statistics, stated that in the U.S., during the calendar year 2020, 5265 recreational boating accidents were recorded. This included 767 deaths and 3191 injuries. Besides this, cost of damage to property recorded to around USD 62.5 Million.
Backed by the rising concern for the increasing incidences of watersport activities, there is a growing need amongst individuals to use safety devices that can help to lower such incidences. The government of nations are also working rigorously towards raising the awareness for safety related to watersport activities, which is also anticipated to contribute to the growth of the market during the forecast period.
However, the lack of sustainable raw materials for manufacturing the accessories is expected to operate as key restraint to the growth of global watersport accessories market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global watersport accessories market which includes company profiling of BOARDS & MORE GmbH, Fanatic, ION, DUOTONE, Boardriders, Inc., Rip Curl International Pty Ltd., Naish International (Nalu Kai Incorporated), F-One, Neil Pryde Limited, Dakine IP holdings LP, Chinook Sailing Products, JP-Australia, Tecno Unlimited Srl (I-99), North Shore Inc., North Actionsports B.V. (Mystic Boarding), Tahe Kayaks OU, Witchcraft Windsurfing, Fin Control Systems Pty Ltd (FCS), Creatures of Leisure, Ocean & Earth International, International Surf Alliance, Lda. (Roam Surf), Pro-Lite Inc., Decathlon SA (OLAIAN), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global watersport accessories market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.