The global canoeing and kayaking equipment market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The rise in the number of recreational boating accidents is driving the growth of the global canoeing and kayaking equipment market. According to the US Coast Guard Safety Statistics Report released in 2020, the total number of accidents increased by 26.3% and the number of non-fatal injured victims increased to 24.7%. The fatality rate was 6.5 deaths per 100,000 registered recreational vessels. This rate represents a 25.0% increase from the 2019 fatality rate of 5.2 deaths per 100,000 registered recreational vessels. Where the cause of fatality was known, 75.0% of fatal boating accidents victims drowned. Out of the drowning victims, 86.0% were not wearing a life jacket. The most common vessel types involved in reported accidents were open boats, kayaks, and pontoons. thus, the adoption of safety equipment is anticipated to avoid major accidents, which in turn will fuel the demand for the global canoeing and kayaking equipment market.
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The rising participation in outdoor recreational activities is one of the major factors driving the growth of the global canoeing and kayaking equipment market. According to the data published by Maritime New Zealand in 2021, 45.0% of adult New Zealanders had participated in recreation boating at least once in 2019. The 45.0% was an increase from 42.0% in 2017. In addition, as per the data published by Outdoor Industry Association in 2020, 50.7 of Americans participated in at least one outdoor activity in 2019, out of which 46.2% accounted for female participants. Also according to the Bureau of Economic Analysis, the outdoor recreation economy accounted for 1.8% of the total Gross Domestic Product of the nation in 2020. The industry segments such as boating, biking, camping, and RVing experienced significant sales and unprecedented growth.
Looking toward the demand for canoeing and kayaking equipment, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2019, Gearlab launched Deck Pod and Line of Kayak Accessories. Both sides of Gearlb Deck Pod consist of a snag-free slot for the bilge pump and paddle boat. The Deck Pod can also fit a 3-liter hydration system, and the built-in tube hold design provides easy access. Thus, launches are anticipated to drive the growth of the global canoeing and kayaking equipment market.
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Competitive Landscape-
Aire Inc., BIC Sport, and Johnson Outdoors Inc., among others
By Product
- Canoes & Kayaks
- Accessories
By Distribution Channel
- Sports Goods Retailers
- Online Retail
- Others
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Scope of the Report
The research study analyzes the Global Canoeing and Kayaking Equipment industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Canoeing and Kayaking Equipment Market Report
1. What was the Global Canoeing and Kayaking Equipment Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Canoeing and Kayaking Equipment Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Canoeing and Kayaking Equipment Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Canoeing and Kayaking Equipment market.
- The market share of the Global Canoeing and Kayaking Equipment market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Canoeing and Kayaking Equipment market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Canoeing and Kayaking Equipment market.
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