November 30, 2021 09:27 ET | Source: Research Nester Research Nester

New York, New York, United States

New York, November 30, 2021 (GLOBE NEWSWIRE) - According to the U.S. Coast Guard, 5,265 recreational boating-related accidents were registered in the U.S. in that calendar year, including 3,191 injuries and 767 deaths in 2020. In addition, , The cost of property damage caused by such accidents resulted in a loss of 62.5 million US dollars. On the other hand, according to statistics from the World Health Organization (WHO), drowning was recorded as the third leading cause of death from unintentional injuries in the world in 2019. Statistics also show that about 236,000 people die from drowning every year.

Research Nester released a report titled "Global Water Sports Accessories Market", which conducts research for the forecast period, 2021-2028, and also includes a detailed competitive analysis of the major players operating in the market, and Their key statistics. Use different statistical tools for analysis. The report also includes an analysis of the product mix of the major players, as well as a brief introduction to their global geographic distribution.

Interest in water sports related activities is increasing day by day. The American Outdoor Industry Association stated in one of its statistics that despite the impact, the number of people in the 6-year-old and above age group participating in at least one outdoor activity increased by 7.1 million from 2019, reaching 160.7 million by 2020. The COVID-19 pandemic. In terms of participation rate, we have also observed an increase from 50.7% in 2019 to 52.9% in 2020. With the increase in water sports participation rate, more and more attention needs to be paid to the safety practices of different water sports activities. Therefore, the increasing demand for different water sports accessories to reduce the incidence of water sports related accidents is expected to drive market growth. During the forecast period, the global water sports accessories market is expected to grow at a compound annual growth rate of 2.6%. The revenue of this market in 2019 was US$2.920.7 billion and is expected to reach US$3.038.1 billion by the end of 2028.

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The global water sports accessories market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa based on geographic analysis. Outside of the markets in these regions, the North American market is expected to grow with the highest market share during the forecast period, and to achieve the largest market revenue of US$1.0767 billion by the end of 2028, which is higher than US$1058.5 in revenue of 1 million in 2019. The market in this region is expected to grow further at a compound annual growth rate of 2.3% during the forecast period. The market in this region is divided into the United States and Canada by country. Outside of the markets of these countries, the U.S. market is expected to occupy the highest market share during the forecast period and further reach $704.5 million in revenue in 2021. Alternatively, the Canadian market is expected to follow the highest compound annual growth rate during the forecast period of 2.5%.

The growth of the US market is mainly attributable to the increase in imports of water sports equipment in the country, followed by the increase in the number of people participating in water sports for the first time. According to statistics from the International Trade Center (ITC), the import of water skis, surfboards and other water sports equipment in the United States increased from US$37.329 million in 2013 to US$45.310 million in 2019. On the other hand, according to the statistics of the Personal Watercraft Industry Association, the sales volume of new personal boats reached 59,000 in 2016, an increase of 7.3% over the previous year. Statistics also show that about 981600 second-hand ships were sold in the same year. In addition, according to the statistics of the Outdoor Industry Foundation, the first participation rates of white water kayaking, sea or tourist kayaking, rafting, stand-up paddling, canoeing and recreational kayaking in 2018 were 56%, 53%, respectively. They are 49%, 48%, 31%, and 29%, respectively.

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On the other hand, the European market is expected to occupy the second largest share, and will grow further at a compound annual growth rate of 2.2% during the forecast period. The revenue of the regional market in 2019 was 665.1 million U.S. dollars and is expected to reach 671.6 million U.S. dollars by the end of 2028. The growth of the market in this region is mainly attributable to the increase in ship trade and water sports equipment. According to statistics from Eurostat, exports of boats and water sports equipment accounted for more than 50% of the total export of sporting goods in the EU-27 in 2019. In 2014, the export value of ships and water sports equipment was about 4.25663 billion U.S. dollars, which increased to about 7.546.1 billion U.S. dollars in 2019. The regional market is divided into the United Kingdom, Germany, Italy, France, Spain, Russia, the Netherlands and the rest of Europe by country. Among the countries in these regions, the Spanish market is expected to gain the highest market share, and will achieve market revenue of 120.7 million US dollars by the end of 2028, growing at a compound annual growth rate of 1.8% during the forecast period. Alternatively, the Dutch market is expected to grow at the highest compound annual growth rate of 2.9% during the forecast period.

The study further included North America (U.S., Canada), Latin America (Brazil, Mexico, Argentina, other parts of Latin America), Europe (UK, Germany, France, Italy, Spain, Hungary, Benelux [Belgium, Netherlands, Luxembourg] ], Northern Europe [Norway, Denmark, Sweden, Finland], Poland, Russia, rest of Europe), Asia Pacific (China, India, Japan, Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, other Asia Pacific), Middle East and Africa (Israel, Gulf Cooperation Council [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Middle East and other parts of Africa)).

The global water sports accessories market is subdivided into foot belts, belts, safety belts, traction pads, etc. by product. Among these market segments, the belt segment has the highest market revenue in 2019, at USD 1.359.3 million, and is expected to grow at a compound annual growth rate of 2.3% during the forecast period. It is estimated that by the end of 2028, this sector will receive the largest revenue of US$1.3832 billion. In North America, the division expects to have $507.2 million in revenue by the end of 2028. In addition, in the United States, by the end of 2021, the sector is expected to receive $338.5 million in revenue. At the same time, in Europe, the sector is expected to receive the largest market revenue by the end of 2028, reaching US$299.1 million. In Spain, it is expected that this sector will receive the largest market revenue of USD 48.3 million by the end of 2021, and will further grow at a compound annual growth rate of 1.6% during the forecast period.

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The global water sports accessories market is also divided into online and offline based on distribution channels. Among these market segments, the offline market segment is expected to receive the largest market revenue of US$1.9371 billion by the end of 2021. In addition, the online segment is expected to grow at the highest compound annual growth rate of 3.5% during the forecast period. In Europe, the offline market segment is expected to grow at the highest compound annual growth rate of 3.2% during the forecast period, while in Germany, the market segment is expected to grow at the highest compound annual growth rate of 3% during the forecast period. On the other hand, in the Asia-Pacific region, the offline market segment is expected to achieve the largest market revenue of US$288.2 million by the end of 2021, and will further grow at a compound annual growth rate of 3.4% during the forecast period. During the forecast period, the online segment is expected to grow at the highest compound annual growth rate of 4.9%. Among countries in the Asia-Pacific region, China's online market is expected to grow at the highest compound annual growth rate of 5.6% during the forecast period.

The global water sports accessories market is also segmented according to the types of buyers.

Global water sports accessories market, segmented by buyer type

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Our report includes some well-known industry leaders in the global water sports accessories market, including BOARDS & MORE GmbH, Fanatic, ION, DUOTONE, Boardriders, Inc., Rip Curl International Pty Ltd., Naish International (Nalu Kai Incorporated), F -One, Neil Pryde Limited, Dakine IP Holdings LP, Chinook Sailing Products, JP-Australia, Tecno Unlimited Srl (I-99), North Shore Inc., North Actionsports BV (Mystic Boarding), Tahe Kayaks OU, Witchcraft Windsurfing, Fin Control Systems Pty Ltd (FCS), Creatures of Leisure, Ocean & Earth International, International Surf Alliance, Lda. (Roam Surf), Pro-Lite Inc., Decathlon SA (OLAIAN), etc.

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