NEW
YORK, July 9, 2024 /PRNewswire/ -- Canoeing
requires essential equipment such as canoes or kayaks, paddles,
personal flotation devices (PFDs), safety gear (like helmets and
throw bags), and appropriate clothing (including wetsuits or
drysuits). The global canoeing and kayaking equipment market is
projected to grow by USD 150.6
million from 2024-2028, driven by increasing recreational
kayaking preferences and a trend towards artificial water sports
experiences. However, the high initial costs of canoes and kayaks
often lead consumers to prefer rental options, presenting a
challenge for market expansion. Key players in this market include
AIRE Inc., Airhead Sports Group, Aqua Marina, and others.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Sports goods retailers, Department stores/hypermarkets and
supermarkets, Online retail, and Others), Product (Canoes and
kayaks and Accessories), and Geography (North America, Europe,
APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
AIRE Inc., Airhead
Sports Group, Aqua Marina, Baroda Polyform Pvt Ltd, Confluence
Outdoor, Gumotex Group, HYSIDE Inflatables, Imagine Nation Sports
LLC, Johnson Outdoors Inc., Kirton Kayaks LTD., Northshore Kayaks,
NRS Inc., Obrien, Pyranha Mouldings Ltd, Rockpool Kayaks Ltd., Sea
Kayaking, Tahe Outdoors France SASU, Valley Kayaks, Venture Kayaks,
and YOLO Kayaks
|
Key Market Trends Fueling Growth
The global canoeing and kayaking equipment market is
experiencing a notable trend with the increasing popularity of
artificial water bodies for these activities. These man-made
facilities provide water sports enthusiasts with a convenient and
accessible option, allowing them to engage in their preferred
activities throughout the year, regardless of seasonal limitations.
Notable examples include the US National Whitewater Center in
Charlotte, North Carolina, which
houses the world's largest artificial river suitable for rafters
and kayakers. Similarly, Kielder Water in northern Europe is a significant man-made lake that
attracts tourists for canoeing and water skiing. Furthermore, the
emergence of surf parks integrated with artificial wave technology
is a growing trend, with at least 10-15 such parks scheduled to
open in Russia, Spain, and Hawaii in the coming years. These developments
not only cater to the demand for water sports but also create
opportunities for related businesses, such as restaurants and
lodging establishments, to flourish. Consequently, the growth of
artificial water sports experiences is expected to significantly
drive the canoeing and kayaking equipment market during the
forecast period.
The Canoeing and Kayaking Equipment market is experiencing
notable trends. Governmental programs promoting water accessibility
boost sales. High-quality equipment is in demand, driven by
customers seeking safe and durable gear. Weather conditions and
transportation to waterbodies impact market size. Rival water
sports and security issues influence consumer choice. Skill level,
economic downturns, and physical restrictions also factor in. Age,
boating activity, and degree of risk influence product
distinctiveness. Surface water sports, paddle sports contests, and
mountaineering expand the product structure. Accessories, sporting
goods retailers, online retail, departmental stores, adventure
sports, outdoor recreation, adventure tourism companies, and rental
services cater to diverse customer needs. Fitness and health,
design and materials, paddlesports events, outdoor activities, and
social media influence market dynamics. Income levels impact
customer purchasing power.
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Market Challenges
• The canoeing
and kayaking equipment market faces a significant challenge due to
the high cost of canoes and kayaks, which restricts potential
growth, particularly among casual users in developing regions such
as Indonesia and Cambodia. The average cost of quality canoes
and kayaks exceeds USD1,500, making
it an expensive hobby for many. As a result, consumers often opt
for renting equipment instead of purchasing it. Rental centers have
gained popularity due to the wide range of brands and options they
offer, as well as the ability for customers to try before they buy.
Amateur users who do not engage in canoeing and kayaking frequently
prefer this option. However, this trend poses a challenge to global
vendors, as rental revenue does not contribute significantly to
their revenue streams. Additionally, the availability and
purchasing power of consumers in certain regions further limit the
market's growth potential.
• The Canoeing
and Kayaking Equipment market faces several challenges.
Governmental programmes and regulations impact market growth.
High-quality equipment is essential for customer satisfaction, but
weather conditions and access to waterbodies can limit sales.
Transportation and storage are logistical issues, while rival water
sports and security concerns affect market share. Skill level,
economic downturns, physical restrictions, age, and degree of risk
influence customer base. Boating activities like canoeing and
recreational kayaking, paddle sports contests, mountaineering, and
adventure tourism companies offer opportunities. Product
distinctiveness, accessories, and sales channels (sporting goods
retailers, online retail, departmental stores, adventure sports,
and outdoor recreation) impact market structure. Age, income,
fitness and health, design and materials, paddlesports events,
outdoor activities, and social media influence customer
preferences. Safety and security concerns, skill level, and
economic conditions are key factors influencing market trends.
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challenges - Download a Sample Report
Segment Overview
This canoeing and kayaking equipment market report extensively
covers market segmentation by
- Distribution Channel
- 1.1 Sports goods retailers
- 1.2 Department stores/hypermarkets and supermarkets
- 1.3 Online retail
- 1.4 Others
- Product
- 2.1 Canoes and kayaks
- 2.2 Accessories
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Sports goods retailers- The global canoeing
and kayaking equipment market is dominated by the sporting goods
retailers segment. This distribution channel, which includes
vendors selling through sports specialty stores and vendor-specific
showrooms, is popular due to several customer benefits. These
advantages include the convenience of directly contacting vendors
for product negotiations, a wide variety of branded options with
significant stock-keeping units, better product assortment,
extended trial periods, and specialized staff knowledge. Retailers
like Decathlon, with over 1,500 stores in 49 countries and products
for 70 sports, cater to this need. Despite challenges such as
seasonal sales and inventory maintenance, the sports goods
retailers segment is expected to witness significant growth due to
its ability to offer a personalized shopping experience and expert
product advice.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Canoeing and Kayaking Equipment Market is a vibrant segment
of the Adventure Sports industry, catering to the growing demand
for Outdoor Recreation. Canoes and Kayaks offer a unique
Water-based Fitness and Health experience, allowing individuals to
explore various water bodies while enjoying the tranquility of
nature. Design and Materials play a crucial role in the production
of high-quality Canoeing and Kayaking Equipment. Paddlesports
Events and Outdoor Activities attract both amateur and professional
enthusiasts, driving the market's growth. Adventure Tourism
Companies and Rental Services offer access to this equipment for
those who may not own one. Social Media platforms and Governmental
Programmes promote awareness and participation in these activities.
Weather, Access to Waterbodies, Transportation, Storage, and Rival
Water Sports are essential factors influencing the market. Skill
level, Economic Downturns, Product Distinctiveness, Physical
Restrictions, Age, and Boating activity (recreational kayaking,
whitewater kayaking, etc.) also impact the demand for Canoeing and
Kayaking Equipment. Accessories such as life jackets, paddles, and
waterproof bags are essential for safety and enhancing the overall
experience. Security Issues, such as theft and damage, are concerns
for consumers. Skill level and age can influence the type and cost
of equipment required. Economic downturns may impact sales, but the
market's resilience and product distinctiveness keep it
thriving.
Market Research Overview
The Canoeing and Kayaking Equipment Market is a vibrant sector
of the Adventure Sports and Outdoor Recreation industries. This
market caters to customers seeking water-based activities for
fitness and health, offering various types of Canoes and Kayaks.
Design and materials play a crucial role in creating high-quality
equipment, ensuring durability and safety. Paddlesports events and
outdoor activities attract adventure tourism companies, providing
rental services for those new to the sport. Social media and income
growth fuel market expansion, with governmental programs and access
to waterbodies further supporting its growth. Weather,
transportation, storage, and access to waterbodies are essential
factors. Rival water sports, security issues, skill level, economic
downturns, product distinctiveness, physical restrictions, age, and
degree of risk also influence the market. The product structure
includes boats, paddles, accessories, and services from sporting
goods retailers, online retail, and departmental stores.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Sports Goods Retailers
- Department Stores/hypermarkets And Supermarkets
- Online Retail
- Others
- Product
-
- Canoes And Kayaks
- Accessories
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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