Water sports equipment market,Kite Harness market,Technological advancement in Kiteboarding equipment,Kiteboard market,Global Kiteboarding equipment market : Ken Research

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Submitted: June 04, 2018

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Submitted: June 04, 2018

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The report titled “Global Kiteboarding Equipment Market Outlook to 2022 - by Equipments (Kite Boards, Accessories, Kites & Protective Gear), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand, by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others) and by Equipment Price” provides a comprehensive analysis of global kiteboarding equipment market. The report covers market introduction, market nature, value chain analysis and market size on the basis of consumer expenditure. Market segmentation based on Equipments (Kite Boards, Accessories, Kites & Protective Gear), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand, by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others) and by Equipment Price have been well interpreted and presented in the report. The report also includes competitive landscape, company profiles for major players (Cabrinha, Naish International, F-One, North Kiteboarding, Switch Kites, Crazy Fly and Slingshot Sports) in the market, market share of major players and analyst recommendation.

The report will facilitate the reader with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry and has anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for water sports equipment manufacturers, distributors, specialty sporting goods stores, kiteboard equipment manufacturers, department stores, e-commerce portals, customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.

Market Size & Overview

Market Overview: Globally, International tourist arrivals and international tourism expenditure has been increasing at a steady pace over the review period (2012-2017). Coupled with an increase in interest of people towards soft adventure sports, rising popularity of Kiteboarding & adventure sports and growing awareness regarding fitness-benefits of opting Kiteboarding has supported growth in this industry. Americas has been the biggest market in terms of expenditure incurred by consumers in Kiteboarding equipment’s followed by Europe, APAC and Middle East & Africa. Increase in demand has also been affected by growing base of Millennial, higher per capita income in major markets, presence of well-established players and expanded distribution network in new regions/countries.

Market Size: Increase in variety of Kiteboarding equipment’s available in the market, primarily, in terms of size, quality, capacity and utility, major players have been using diverse product portfolios and aggressive marketing & sales strategies to position themselves in the market. This has helped the market to grow at a CAGR of close to 6% during 2012-2017. Increased trade has been observed amongst major producing and consuming countries. Several leading manufacturers have invested huge amount in research & development segment to foster product innovations to increase durability and sturdiness of Kiteboarding equipments. By and large, Global Kiteboarding equipment market has increased by significant amount in the review period.

Market Segmentation

By Equipment: As of 2017, kiteboards accounted for the highest share in the kiteboarding equipment market in terms of consumer expenditure. Kiteboards form the most important rather necessary equipment for kiteboarding. The safety of the sport highly depends on the use of right type and size of kiteboards. This however, makes the kiteboards expensive. The price of kiteboards starts from below USD 400 which goes even beyond USD 800. Some of the major manufacturers of kiteboards include Cabrinha, Naish International, Slingshot and others. Accessories used in kiteboarding include Flying Lines, Control Bars and Kite Harnesses. Kiteboarding accessories accounted for second highest share in the kite boarding equipment market. The power kites that are used for kiteboarding are of two types, namely leading edge inflatables and foil kites. Kites, in 2017, accounted for a share third highest share in terms of consumer expenditure. Average size of a kite used in kiteboarding varies between 5 meters to 17 meters. In terms of consumer expenditure, protective gear accounted for the least share in the kiteboarding equipment market. Protective gear includes helmets, wetsuits, safety hook knives, board leashes and signaling devices. To gain repeat business, major players in the market are focusing on manufacturing protective gear with advanced safety features and having different designs and colors. 

By Region: The global Kiteboarding equipment market was dominated by Americas in the year 2017. The region occupies the largest share owing to the presence of well-established water sports infrastructure and large number of Kiteboarding enthusiasts. In the recent years, Kiteboarding has been adopted as a recreational activity along with being taken-up professionally. Europe accounted for the second largest share in the Kiteboarding equipment market. The presence of increased number of water sporting sites across Europe makes it the second-largest revenue contributor. APAC region also witnessed growth in demand for Kiteboarding equipments with an increase in both consumption and production especially in Australia, Taiwan, Indonesia, Vietnam and Japan. Middle East and Africa has accounted for the lowest share in the Kiteboarding equipment market in 2017. Major reasons to support such low revenue generation are low participation rates, less number of Kiteboarding facilities available and low awareness amongst population regarding Kiteboarding a sports event.

 

By New and Existing Demand: In the year 2017, it has been observed that the repeat demand from existing users has accounted for a larger share in the market. With up-gradation of products and new launches, customers replace their current equipments with the advanced ones. Moreover, with rising competition in various regional and global championships and more number of canoeing and kayaking camps being established to attract tourism, repeat demand from existing customers is very strong. Influenced by the benefits of the sport including, balance training, endurance training and strength training-tool for legs and calves, new customers have been attracted to the market.

By Distribution Channel: Company Stores and Specialty Stores dominate the market in 2017. This sales channel has been highly popular since major large scale manufacturers of Kiteboarding equipments usually operate through own brand stores that exclusively sell equipments of their brand. These are known as Exclusive Brand Outlets of the companies located in various countries across the world. The purchase of sports equipments online has been gaining high popularity over the years. Online stores have accounted for second highest contribution in 2017. Some of the major online retailers selling sports equipments are Amazon and Alibaba. Hypermarkets, have accounted for an equal double digit share in terms consumption expenditure. This is because these outlets offer a closer evaluation of products and provide the required support and information to consumers, especially through expert customer service personnel. Some of the well-known stores include Walmart and Tesco.

By Equipment Price: As of 2017, Kiteboards that are priced between USD 401 – USD 800 are generally bought by the individual customers and are available in the company stores, specialty stores, online stores and in hypermarkets. They account for the highest share in the kiteboard market. Kites in similar price range also lead the market share in terms of consumer demand in 2017.

Competitive Landscape

Competition in the global Kiteboarding equipment market is highly fragmented due to the presence of large number of regional players. In Americas, the competition is concentrated with majority of market leaders having control in terms of market share. Majority of manufacturing facilities are based in this region leading to large exports to countries such as UAE, South Africa and India. Similarly is the scenario in Europe. The major players in the market carry out both manufacturing as well as trading. Competition in APAC and Middle East & Africa is still in the growing phase & highly fragmented. There are about 10-15 major Kiteboarding equipment manufacturers operating in the global market. Majority of manufacturing clusters of these major manufactures are located in North America and Europe. These players compete against each other on the basis of parameters such as price, product differentiation (product portfolio size and product innovations), distribution network, geographical penetration/geographical presence and research & development activities.

Future Analysis and Projections

Global Kiteboarding equipment market has been anticipated to showcase a sound growth at a CAGR of close to 8% during the forecast period (2017-2022). Growth during this period is expected to be supported by the rising popularity of Kiteboarding as a recreational and profession activity, increase in the number of Kiteboarding championships and tournaments, increase in demand from Millennial, increased awareness regarding fitness benefits of Kiteboarding, expanding geographical presence of major manufacturers, intensifying distribution channels, expansion of online retailing, new product launches, government initiative to promote the usage of protective Kiteboarding equipments and others.

For more information on the research report, refer to below link:

https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-kiteboarding-equipment-market/149545-95.html

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