Water Sports Gear Market

Global Water Sports Gear Market Size (2024 to 2029)

The global water sports gear market size was worth USD 58.06 billion in 2023. The global water sports gear market is projected to register a CAGR of 3.6% from 2024 to 2029 and will be valued at USD 71.79 billion by 2029 from USD 60.15 billion in 2024.

Current Scenario of the Global Water Sports Gear Market

The Water sports gear market includes wetsuits, drysuits, hard hats, a swimming watch, a wrist dive computer, a swimming mask, goggles, etc.

Water sports gear is a set of tools and clothing that a person wears during water sports activities. The water sports equipment provides protection during such activities. These gears are used in water sports such as rafting, swimming, snorkeling, freediving, diving, and others. The water sports industry is focused on equipment integrated with automated technology. Therefore, water sports gear manufacturers are launching new equipment that is innovative and incorporates new features to stay competitive in the market. Hence, these factors are contributing to the growth of the Water Sports Equipment market in terms of sales value.

MARKET DRIVERS

Technological advancements in water sports gear are further expected to boost the global market during the forecast period.

Factors such as the growing number of water sports enthusiasts in North America and Europe and increased awareness of healthy lifestyles are the major factors driving the growth of the water sports gear market globally.

Water sports gear such as safety helmets, life jackets, Buoyancy Control Devices (BCD), dive computers, and others protect participants from injury, stimulating market growth. Besides, an increase in the number of water sports enthusiasts further drives the growth of the market. Besides, various initiatives by the governments of several countries to promote water sports and nautical tourism in their respective countries are also boosting the market boom. Nonetheless, continuous innovation and rapid growth of the online retail platform are supposed to provide immense opportunities for the growth of the water sports gear market during the forecast period.

MARKET RESTRAINTS

However, the low penetration of this equipment in developing nations is foreseen to act as a hindrance to the expansion of the water sports gear market in the coming years.

Impact of COVID-19 on the water sports gear market

The COVID-19 pandemic has caused a death blow to the water sports gear market with the strict lockdown conditions, temporary closure of sales channels and recreational centers, ban on travel, and others. The market is likely to take some time in the future to bounce back to its normal stage.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Water Sports Gear Market By Product Type

The clothing segment dominated the water sports gear market in 2023 and is likely to witness a promising CAGR in the global water sports gear market during the forecast period.

Water sports clothing fulfills different functions and provides protection to the body during activities performed underwater. For example, the drysuit keeps the body warm, excludes water, and offers protection against UV exposure, stings from marine organisms, and abrasion. This has driven the growth of the clothing segment in the water sports gear market.

Global Water Sports Gear Market By Age Group

In 2022, the adult segment held the dominant portion of the global water sports gear market.

 Water activities are beneficial to health. It lowers the risk of chronic and other diseases, which attract this age group to water activities. Thus, this has increased the number of participants in water sports activities, which in turn stimulates the demand for water sports gear in the market.

Global Water Sports Gear Market By Distribution Channel

In 2023, the franchise store segment recorded a significant share of the global water sports gear market.

This is because franchise stores provide a greater geographic presence to manufacturers through which they expand their customer base, making water sports equipment readily available to customers.

REGIONAL ANALYSIS

North America held the lion’s share in the worldwide market in 2023. The North American water sports gear market dominates the global business, due to the increasing adoption of a healthy lifestyle by consumers has resulted in an increase in the number of water sports enthusiasts, increasing demand for water sports gear in the North American region. This, in turn, is driving the growth of the North American water sports gear market.

KEY MARKET PLAYERS

Companies such as Adidas (Germany), Mikasa (USA), Nike (USA), Speedo International (UK), Billabong (Australia), Under Armor, Inc. (United States), Apollo Sports USA Inc. (United States), Aquatec (Duton Industry Co., Ltd) (Taiwan), Beuchat, Johnson Outdoors Inc. (United States), Sherwood Scuba (United States), WaterSports Planet, JSW Powersports (Australia), Rafting doo and Bashir Sport are currently playing a dominating role in the global water sports gear market.

DETAILED SEGMENTATION OF THE GLOBAL WATER SPORTS GEAR MARKET INCLUDED IN THIS REPORT

This research report on the global water sports gear market has been segmented and sub-segmented based on product type, age group, distribution channel, and region.

By Product Type

• Clothing
• Swimming fins
• Watches
• Life jackets
• Security helmets
• Swimming masks
• Goggles
• Buoyancy control devices (BCD)
• Others

By Age Group

• Kids
• Adults
• Geriatric

By Distribution Channel

• Specialty Stores
• Franchise Stores
• Online Stores
• Supermarkets/Hypermarkets

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa