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Global Canoeing and Kayaking Equipment Market to Grow at a CAGR of 3.50% During the Period 2017 - 2021; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Canoeing and Kayaking Equipment Market 2017 - 2021” research report to their website


Lewes, DE -- (SBWIRE) -- 02/07/2017 -- Report forecast the global canoeing and kayaking equipment market to grow at a CAGR of 3.50% during the period 2017-2021.

Increased awareness of a healthy lifestyle and growing number of water sports enthusiasts are the major factors boosting the water sports equipment market in the Americas. The Americas is expected to maintain its leading position during the forecast period as well. A large number water sporting sites spread across Europe and outdoor sports enthusiasts make it the second-largest revenue contributor to the global water sports equipment market. France and Germany are the major contributors to the market in Europe. APAC is a fast-growing region among all the other geographic regions in the global water sports equipment market. South Korea and Australia are the prime markets for water sports equipment in the region, along with other prominent countries such as Indonesia, Hong Kong, Taiwan, Thailand, and Singapore.

The report covers the present scenario and the growth prospects of the global canoeing and kayaking equipment market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:
- Americas
- Europe

According to the report, one driver in market is increased adoption of canoeing and kayaking. Water sports, including scuba diving, surfing, canoeing and kayaking, and snorkeling, have become an inherent part of recreational activities in the past decade. Recently, there has been increased emphasis on water sports by various government bodies, especially tourism boards, in an attempt to increase the revenue generated from the tourism industry. Various promotional campaigns are being run by governments and tour operators in different countries, which are adding to the popularity and associated growth of the water sports industry on the whole. Changing demographics and lifestyles, along with an increase in recreational expenditures, have helped in increasing the popularity of outdoor sports.

Further, the report states that one challenge in market is high costs of canoes and kayaks leading to preference for rentals. Canoes and kayaks are relatively high priced, and this associated price with canoeing and kayaking tends to restrict the potential market growth, especially among people engaging in canoeing and kayaking casually. The average cost of quality canoes and kayaks is more than $1,500, and this high cost of canoes and kayaks offered by global vendors results in a significant challenge to the renowned global vendors, as most of the end-users, especially in the developing regions of Indonesia and Cambodia, are reluctant to use such highly priced canoes and kayaks, which in turn affects the revenue of the global canoeing and kayaking equipment market. Moreover, casual stand-up canoeing and kayaking enthusiasts tend to rent canoes and kayaks rather than buying them, which further hampers the growth.

Global Canoeing and Kayaking Equipment Market 2017-2021, 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.

key players in the global canoeing and kayaking equipment market: AIRE, BIC Sport, HYSIDE, NRS, and SOTAR.

Other Prominent Vendors in the market are: AIRHEAD, Aqua Marina, Ocean Kayak, Malibu Kayaks, Rave Sports, and Vanguard Inflatables.

Market driver
- Growing number of water sporting facilities worldwide.
- For a full, detailed list, view our report

Market challenge
- High costs of canoes and kayaks leading to preference for rentals.
- For a full, detailed list, view our report

Market trend
- Fitness benefits associated with canoeing and kayaking.
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 69 pages and 26 Exhibits "Global Canoeing and Kayaking Equipment Market 2017 - 2021" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product type, Market segmentation by retail formats, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

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