In-the-water sports equipment market size is expected to grow by USD 5.78 billion from 2021 to 2026: A descriptive analysis of five forces model, market dynamics, and segmentation

NEW YORK, Feb. 9, 2023 /PRNewswire/ — According to Technavio, the global in-the-water sports equipment market size is estimated to grow by USD 5.78 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 3.91% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 45% of the market’s growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on market size, request a sample report

Technavio has announced its latest market research report titled Global In-the-Water Sports Equipment Market

In-the-water sports equipment market – Five forces
The global in-the-water sports equipment market is fragmented, and the five forces analysis covers–

  • Bargaining power of buyers

  • The threat of new entrants

  • Threat of rivalry

  • Bargaining power of suppliers

  • Threat of substitutes

  • For an interpretation of Porter’s five forces model – Buy the report!

In-the-water sports equipment market – Customer landscape

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

In-the-water sports equipment market – Segmentation assessment

Segment overview
Technavio has segmented the market based on product (sports gear and sports apparel), type (swimming, water aerobics, and water polo), and distribution channel (offline and online).

  • The sports gear segment will account for a significant share of the market’s growth during the forecast period. The growth of this segment is attributed to factors such as the rising popularity of different types of water sporting activities and the reopening

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3% CAGR in In-the-Water Sports Equipment Market

NEW YORK, Dec. 23, 2021 /PRNewswire/ — North America and Europe registered high demand for water sports gear and equipment, and APAC experienced an increase in the sales of such equipment owing to the increasing popularity of water sports in the region.

Attractive Opportunities in In-The-Water Sports Equipment Market by Product, Distribution Channel, Type, and Geography – Forecast and Analysis 2021-2025

The market is also growing in the Middle Eastern and Central American countries with an increase in the popularity of adventure and water sports.

Key In-the-Water Sports Equipment Market Report Highlights:

  1. Market growth 2020-2025: USD 4.39 billion

  2. Growth momentum & CAGR: Accelerate at a CAGR of about 3%

  3. YoY growth (%): 1.66%

  4. Performing market contribution: North America at 44%

  5. Key consumer countries: US, UK, France, China, Canada

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Regional Market Analysis

North America will register the highest growth rate of 44% among the other regions. Therefore, the in-the-water sports equipment market in North America is expected to garner significant business opportunities for the vendors during the forecast period. The US and Canada are the key markets for in-the-water sports equipment market in North America.

  • The participation rate in water sports is the highest among the millennials and is about 20%. The millennials are followed by Gen Z, with an average participation rate of about 29%. The popular water sports in the region are canoeing, fishing, kayaking, rafting, sailing, scuba diving, snorkeling, water polo, stand-up paddle-boarding, surfing, water skiing, and wakeboarding.

  • The market for in-water sports equipment will also grow due to the increasing relaxation of lockdown regulations and the opening of sports clubs, water

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