Research Nester has released a report titled “Watersport Accessories Market: Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
During the calendar year 2020, according to the statistics by the United States Coast Guard, 5265 recreational boating accidents in the U.S. were recorded. Moreover, this included 3191 injuries and 767 deaths. The statistics also stated that close to USD 62.5 Million was the cost of damage to property caused due to such accidents.
With the increasing interests for watersport activities amongst individuals, the concern for accidents related to such sports is also on the rise. Hence, it has become very much necessary to follow safety protocols so as to lower such incidences. The regulatory bodies, along with the government of nations around the globe are working towards driving awareness for safety in watersports, which is one of the major factors anticipated to contribute to the demand for accessories for watersports, and in turn accelerate the market growth.
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The global watersport accessories market is anticipated to grow with a CAGR of 2.6% during 2021-2028. 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. The market is segmented by product into foot straps, leashes, harnesses, traction pads, and others. In the year 2019, amongst all these segments, the leashes segment registered the largest market revenue of USD 1359.3 Million, and it is further expected to reach USD 1383.2 Million by the end of 2028.
The global watersport accessories market is segmented on the basis of geography into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. By the end of 2028, the market in North America is anticipated to attain the largest market revenue of USD 1076.7 Million by growing with a CAGR of 2.3% over the forecast period. Further, in 2019, the market in the region registered the largest market revenue of USD 1058.5 Million.
However, the lack of sustainable raw materials for manufacturing the accessories is one of the major factors anticipated to hamper the market growth.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
This report also provides the existing competitive scenario of some of the key players of the global watersport accessories market, which includes company profiling of 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.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Watersport Accessories Market: Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall global watersport accessories industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global watersport accessories market in the near future.
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