Market Overview:

The Global Water Sports Gear Market was at $ 43.2 billion in 2019 and is expected to reach $ 55.2 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027.

Water sports gear are specially designed for sports activities underwater and in water. Water sports gear include swim cap, wetsuit, dry bag, skim board, swim watch, swim goggles, and more. These outfits and kits are made of expanded neoprene, polyester, polypropylene, spandex, and other materials that make this equipment flexible and durable. Due to all these characteristics, consumers are more inclined towards water sports gear.

Recent Developments:

The Scorpion's flexible cressi back plate, lightweight harness and trims, strongly elastic air cell gives it a minimal feel and profile, but it also has 40+ pounds of lift, cargo pockets, and built-in weights which is capable of supporting up to 20 lbs.

Market Drivers and Restraints:

Water sports gear such as safety helmet, life jackets, buoyancy control device (BCD), dive computers and others protect participants from injury, which stimulates market growth. Also, the hike in the number of water sports enthusiasts is supporting the developments in this market. In addition, various government initiatives in different countries to promote water sports and nautical tourism in their respective countries are also driving the growth of the global water sports gear market. However, the low penetration in several emerging economies is anticipated to limit the rapid expansion of the water sports gear business over the outlook period. Nonetheless, the continued innovation and rapid growth of the online retail platform is foreseen to provide an immense opportunity for the growth of the water sports gear market in terms of sales value during the conjecture period.

Impact of Covid-19:

The impacts of the coronavirus pandemic are detected in all sectors of the world. The analysis studies the effect of COVID-19 on the current market and assesses significant variations in the trends and growth patterns of the surface water sports gear sales market. In addition, it has an innovative centrifugal impact of the future and current effect of coronavirus on industry developments.

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Report is segmented as:

By Product Type

Water Sports Clothes
Swim Fins
Swim Mask & Goggles
BCD (Buoyancy Control Device)
Watches
Life Jackets
Safety Helmets
Others
By Age Group

Kids
Adult
Geriatric
By Distribution Channel

Specialty Store
Franchise Store
Online Store
Supermarket/Hypermarket
Others
The online market is expected to dominate the distribution channel during the forecast period, as online platforms offer various offers such as discounts, return policies, delivery options, and various options such as online banking, cash on delivery, etc.

Geographical segmentation:

Based on geography, the global water sports gear market is divided into regions of the Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these, North America held the maximum share of the water sports gear market in 2019 and is expected to dominate the market during the outlook period.

Key market players:

Some of the major players in analyzed in this report include Cressi S.p.A., Aqua Lung International, JOHNSON OUTDOORS INC., Tabata Co., Ltd., Mares S.p.A, Beuchat, O’Brien, Oneill, Puma and Speedo International.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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