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.
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.
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:
Related
Reports
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
