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Water Sport Accessories Market Segmentation by Product (Footstraps, Leashes, Harnesses, Traction Pads, and Others); by Distribution Channel (Online, and Offline); and by Buyer Type (Surfboards, and Individuals) – Global Demand Analysis & Opportunity Outlook 2019-2028

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Extensive insights into the Growth of Water Sport Accessories Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • June 1, 2020: Rip Curl International Pty Ltd. announced that its limited-edition wetsuit, the E-Bomb E7, which has 25% more stretch and is 10% lighter than E6, is now available for sale globally. The wetsuit is available in 3/2mm or4/3mm thickness.

Global Watersport Accessories Market Highlights Over 2019 - 2028

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, by growing with a CAGR of 2.6% during the forecast period, i.e., 2021-2028. The market is anticipated to grow primarily on account of the growing awareness for safety in watersports, followed by the growing number of participants for recreational watersport activities. According to the statistics by the United States Coast Guard, 5265 recreational boating accidents in the U.S. were recorded during the calendar year 2020. This included 767 deaths due to recreational boating accidents, followed by 3191 injuries and damage to property worth around USD 62.5 Million. Moreover, according to the statistics by the Outdoor Industry Association, outdoor participation amidst COVID-19 increased significantly. In the year 2020, 160.7 Million Americans of ages 6 and above were known to participate in at least one outdoor activity. This was an increase by 7.1 Million participants than the previous year.

Watersport Accessories Market GraphThe global watersport accessories market is also anticipated to grow on account of the increasing trade of watersports equipment globally. According to the statistics by the International Trade Center (ITC), imports of water-skis, surfboard, and other water-sport equipment around the world increased from USD 1107056 Thousand in the year 2013 to USD 1627522 Thousand in the year 2019. CLICK TO DOWNLOAD SAMPLE REPORT

Imports of Water-Skis

Global Watersport Accessories Market Regional Synopsis

Regionally, the global watersport accessories market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst the market in these regions, the market in North America is anticipated to garner the highest market share throughout the forecast period and also 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. The market in the region is further projected to grow with a CAGR of 2.3% during the forecast period. The growth of the market in the region can primarily be attributed to the increasing interests amongst individuals in the region for different watersport activities, such as kayaking, rafting, canoeing, and others. In other statistics by the Outdoor Industry Association, in the year 2018, rate of first-time participants for whitewater kayaking registered to as 56%, whereas sea or touring kayaking registered 53%. Moreover, rafting, stand up paddling, canoeing, and recreational kayaking stood to 49%, 48%, 31% and 29% respectively.

Rate of First-Time Participants Graph

The market in Europe is anticipated to garner the second-leading market share and further generate a revenue of USD 671.6 Million by the end of 2028. Amongst the countries in the region, the market in Spain registered the largest market revenue of USD 122.9 Million in the year 2019, and is further expected to hold the highest market share by generating a revenue of USD 120.7 Million by the end of 2028. Alternatively, the market in Netherlands is anticipated to grow with the highest CAGR of 2.9% during the forecast period.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges Impacting the Growth of the Global Watersport Accessories Market

Growth Drivers

  • Growing Need to Address Safety Concerns Caused due to Watersport Activities
  • Increasing Participation for Different Watersport Activities

Challenges

  • Lack of Sustainable Raw Materials for Manufacturing the Accessories

Global Watersport Accessories Market Segmentation Synopsis

The global watersport accessories market is segmented by product into footstraps, leashes, harnesses, traction pads, and others. Out of these, 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. On the basis of distribution channel, the market is segmented into online and offline, out of which, the offline segment is projected to hold the highest market share, while the online segment is expected to grow with the highest CAGR of 3.5% during the forecast period. The market is also segmented by buyer type into surfboards manufacturers and individuals, out of which, the surfboards manufacturers segment registered the highest market share in the year 2019 and is further expected to hold the same during the forecast period. Alternatively, the individuals segment is projected to grow with the highest CAGR of 3.6% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global watersport accessories market that are included in our report are 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.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Introduction
    1. Market Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Market Size Estimation
  4. Executive Summary – Global Watersports Accessories Market
  5. Analysis of Market Dynamics
    1. Growth Drivers
    2. Market Trends
  6. Major Roadblocks for the Market Growth
  7. Impact of COVID-19 on the Watersports Accessories Market
  8. Key Market Opportunities
  9. Pricing Analysis
  10. Industry Value Chain Analysis
  11. Competitive Structure
    1. Market Share Analysis, 2019
    2. Competitive Benchmarking
    3. BOARDS & MORE GmbH
    4. Fanatic
    5. ION
    6. DUOTONE
    7. Boardriders, Inc.
    8. Rip Curl International Pty Ltd.
    9. Naish International (Nalu Kai Incorporated)
    10. F-One
    11. Neil Pryde Limited
    12. Dakine IP holdings LP
    13. Chinook Sailing Products
    14. JP-Australia
    15. Tecno Unlimited Srl (I-99)
    16. North Shore Inc.
    17. North Actionsports B.V. (Mystic Boarding)
    18. Tahe Kayaks OU
    19. Witchcraft Windsurfing
    20. Fin Control Systems Pty Ltd (FCS)
    21. Creatures of Leisure
    22. Ocean & Earth International
    23. International Surf Alliance, Lda. (Roam Surf)
    24. Pro-Lite Inc.
    25. Decathlon SA (OLAIAN)
  12. Global Watersports Accessories Market
    1. Global Watersports Accessories Market Outlook
    2. Global Watersports Accessories Market, in USD Million (2019–2028)
    3. Global Watersports Accessories Market, in Thousand Units (2019–2028)
      1. Market Segmentation by:
        1. Product, 2019–2028 (USD Million & Thousand Units)
          1. Footstraps, 2019–2028 (USD Million & Thousand Units)
          2. Leashes, 2019–2028 (USD Million & Thousand Units)
          3. Harnesses, 2019–2028 (USD Million & Thousand Units)
          4. Traction Pads, 2019–2028 (USD Million & Thousand Units)
          5. Others, 2019–2028 (USD Million & Thousand Units)
        2. Distribution Channel, 2019–2028 (USD Million & Thousand Units)
          1. Online, 2019–2028 (USD Million & Thousand Units)
          2. Offline, 2019–2028 (USD Million & Thousand Units)
        3. Buyer Type, 2019–2028 (USD Million & Thousand Units)
          1. Surfboard Manufacturers, 2019–2028 (USD Million & Thousand Units)
          2. Individuals, 2019–2028 (USD Million & Thousand Units)
  13. North America Watersports Accessories Market
    1. North America Watersports Accessories Market Outlook
    2. North America Watersports Accessories Market, in USD Million (2019–2028)
    3. North America Watersports Accessories Market, in Thousand Units (2019–2028)
      1. Market Segmentation by:
        1. Product, 2019–2028 (USD Million & Thousand Units)
          1. Footstraps, 2019–2028 (USD Million & Thousand Units)
          2. Leashes, 2019–2028 (USD Million & Thousand Units)
          3. Harnesses, 2019–2028 (USD Million & Thousand Units)
          4. Traction Pads, 2019–2028 (USD Million & Thousand Units)
          5. Others, 2019–2028 (USD Million & Thousand Units)
        2. Distribution Channel, 2019–2028 (USD Million & Thousand Units)
          1. Online, 2019–2028 (USD Million & Thousand Units)
          2. Offline, 2019–2028 (USD Million & Thousand Units)
        3. Buyer Type, 2019–2028 (USD Million & Thousand Units)
          1. Surfboard Manufacturers, 2019–2028 (USD Million & Thousand Units)
          2. Individuals, 2019–2028 (USD Million & Thousand Units)
        4. Country-wise Watersports Accessories Market
  14. Europe Watersports Accessories Market, in Thousand Units (2019–2028)
  15. Asia Pacific Watersports Accessories Market, in Thousand Units (2019–2028)
  16. Latin America Watersports Accessories Market, in Thousand Units (2019–2028)
  17. Middle East & Africa Watersports Accessories Market, in Thousand Units (2019–2028)
  18. Analyst Review
  19. Primary Interview Analysis

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