Rising number of tourists in APAC and
MEA region, rising government support for maintaining and preserving snorkeling
sites, Increase in participation in water sports activities and use of updated
technology in product designing were regarded as the drivers of growth for the
year 2012-2017.
Global
Snorkeling Market has been highly
fragmented on a global level however; various manufacturing companies have
strong hold in their regional/home markets. In the year 2017, the global
snorkeling equipment market accounted for the share of 11.8% in the global
water sports equipment market. Growth in the market was highly supported by
government efforts in various countries including Spain, Dubai, Italy, India,
and Australia over the past few years. These attempts in terms of higher
sport-marketing were done to increase the revenue generated from the tourism
industry. The largest market for snorkeling equipment in the world during the
period 2012-2017 was Americas, followed by APAC.
Technology
innovations, rising popularity of the sport, spreading awareness of the health
benefits of snorkeling, growing interest of consumers in outdoor recreational
activities, availability of wide range of snorkeling equipment and online
retail market have primarily surged market growth. It is observed that most
established snorkeling equipment manufacturers depend on small factories or
outsourced processes for manufacturing equipment parts. Moreover, the suppliers
also do not depend on one particular manufacturer for their revenues. The major
customer set for the snorkeling equipment market is institutions that conduct
water sports and individual customers. During last 5 years, the market has
witnessed an increased emphasis on water sports activities by various
government bodies especially tourism boards in the leading markets like
Americas and APAC. In an attempt to generate higher revenue from the tourism
industry, various tourism boards especially in the US, France, Germany and in
developing countries of APAC, have been putting great efforts to promote
Snorkeling and other similar water sports activities amongst tourists &
travelers to generate higher revenues.
Influenced
by the health benefits of the sport including enhancing lungs strength and
strengthening of vital muscles throughout the body, such as calves, ankles,
quads, hamstrings and hip flexors, among others, new customers have been
attracted to the market.
The
report titled “Global
Snorkeling Equipment Market Outlook to 2022 – By Equipments (Snorkels,
Snorkeling Masks, Snorkeling Fins and other accessories), By Region (Americas,
Europe, APAC and MEA) and By Distribution Channel (Company Stores &
Specialty Stores, Hypermarkets, Online Stores, Small Retail Stores)”
observed that the snorkels are expected to be the leading snorkeling equipment
in the market supported by an increased replacement rate and being the most
important equipment in the snorkeling equipment market. It is anticipated that
the snorkeling equipment market revenue shall reach USD 2.1 billion by the year
2022.
For more information on the research report, refer to below link:
Related Reports:
The report covers market introduction, market nature, value chain
analysis and market size on the basis of consumer expenditure in detail. Market
Segmentation by Equipments (Canoes & Kayaks and Gear & Accessories), by
Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by
Distribution Channel (Company Stores and Specialty Stores, Online,
Hypermarkets/Department Stores/Supermarkets and Others) have been given prime
importance.
The report is useful for water sports equipment manufacturers, rafting
equipment manufacturers, distributors, specialty sporting goods stores,
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.
The report facilitates the reader with the identification and in-depth
analysis of the existing and future trends and issues that impact the industry.
The report apprises the reader on the growth in the future depending upon
changing industry dynamics in coming years. The report is useful for water
sports equipment manufacturers, Jet Ski equipment manufacturers, distributors,
specialty sporting goods stores, 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.
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Ken Research
Ankur Gupta, Head
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