Wakeboarding Equipment Market Investment Opportunities in Competitive Environment

The popularity of extreme sports has grown significantly in this decade, which has, in turn, led to the growth of related industries including wakeboard equipment market. The growing popularity of wakeboarding has increased the demand for wakeboarding equipment. There has been a sudden spurt  in the population of sports enthusiasts globally, which has catalyzed the wakeboarding equipment demand. North America has been the largest wakeboarding equipment market but, in the recent past, there has been an increase in the demand from Asia Pacific and Europe. The wakeboarding equipment revenues have been multiplying at over 10% annually.

Distribution challenge for wakeboarding equipment market

The development of sales channels has been a challenge for the wakeboarding equipment manufacturers. The key sales channels for wakeboarding equipment include sports retailers, departmental stores, hypermarkets and supermarkets, and online retail. The density of sports retailers is low in the emerging countries, which is a challenge for the wakeboard manufacturers. The online purchase of wakeboarding equipment is surging due to which the key vendors are focusing on the development of this channel.

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Wakeboarding equipment – a market with no demand-supply gap

A lot of water-sport infrastructure transformations have been happening across the globe, which has catalyzed the demand for wakeboarding equipment. Nearly a decade ago, wake parks did not have a defined structure as they were nearly non-existent in terms of specific design. The rise in social media and gaining coverage of water sports on TV channels have improved the wakeboarding equipment sales. The high pace of growth has left less space for the wakeboarding equipment providers to fulfill the demand and supply gap. Most of the wakeboarding equipment that is consumed is manufactured globally. The demand for eco-friendly wakeboarding equipment has been on the rise. The key manufacturers of the wakeboarding equipment have been increasing the availability of the wakeboarding equipment in the countries with high consciousness for eco-friendly products.  The anticipated inclusion of wakeboarding in the 2020 Olympics is further expected to drive the demand for the wakeboarding equipment globally.

Wakeboarding equipment – a market with no demand-supply gap

A lot of water-sport infrastructure transformations have been happening across the globe, which has catalyzed the demand for wakeboarding equipment. Nearly a decade ago, wake parks did not have a defined structure as they were nearly non-existent in terms of specific design. The rise in social media and gaining coverage of water sports on TV channels have improved the wakeboarding equipment sales. The high pace of growth has left less space for the wakeboarding equipment providers to fulfill the demand and supply gap. Most of the wakeboarding equipment that is consumed is manufactured globally. The demand for eco-friendly wakeboarding equipment has been on the rise. The key manufacturers of the wakeboarding equipment have been increasing the availability of the wakeboarding equipment in the countries with high consciousness for eco-friendly products.  The anticipated inclusion of wakeboarding in the 2020 Olympics is further expected to drive the demand for the wakeboarding equipment globally.

North America adds another 100 thousand wakeboard participants

North America is the largest wakeboarding equipment market globally, and it has added 100 thousand wakeboarding participants between 2017 and 2018. In 2017, there were over three million wakeboarding participants in North America. This has kept the demand for wakeboarding equipment market in the region afloat.

Europe also has a considerable wakeboarding equipment market. The popular wakeboarding holiday locations in Europe include Serbia, Spain and Italy. The surge in the number of water parks, water sports schools and water sports clubs have amplified the demand for wakeboarding equipment in Europe and the Asia Pacific.

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