Oceania Kiteboarding Equipment Market Is Projected To Expand At A CAGR of Around 13.5% during 2022–2032

As per a recent published report by Fact.MR, a market research and competitive intelligence provider, the global kiteboarding equipment market is anticipated to exceed a valuation of US$ 909 million in 2022, and expand at an impressive CAGR of 14.7% over the forecast period of 2022 to 2032. Increasing participation in recreational water sports is majorly driving market expansion across regions.

 

Rising involvement of sports enthusiasts in recreational water sports continues to boost the sales of recreational water sport products such as kiteboards, kites, kite bars, and other surfing accessories. For instance, according to the National Marine Manufacturers’ Association (NMMA), more than 181 million people in the United States participated in recreational water sporting activities in 2020.

 

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Kiteboarding, which has become increasingly popular in recent years, is no exception, and is expected to gain high traction, which is expected to push the  sales of kiteboarding equipment beyond US$ 3.6 Billion by the end of 2032.

 

Key Takeaways from Market Study

• 141 – 150 cm kiteboards are likely to witness sales of close to US$ 1.5 billion by 2032.
• Based on equipment/gear, kiteboards and kite bars are likely to hold a market share of around 18% and 31%, respectively, by 2032.
• The 9 – 13 meters segment in kite size is likely to expand at a CAGR of 15.6% over the forecast period of 2022-2032.
• Based on region, demand for kiteboarding equipment is expected to increase at CAGRs of 14.5% and 12.7% in Europe and Middle East & Africa, respectively.
• Together, North America and Europe are likely to represent over 75% of overall market share in 2022.
• The market in East Asia is expected to be valued at US$ 293 million by 2032.

 

“Increasing number of active participants in international games to aid higher adoption of kiteboarding equipment,”says a Fact.MR analyst.

 

Market Development

Brands associated with kiteboarding equipment are developing kites and kiteboards for entry level participants. The trend of easy accessibility of kiteboards to participants at the beginner level continues to augment the sales of kiteboards, thereby accelerating growth of the market. Sports associations are focusing on organizing trade shows to enhance the popularity of the sport, developing higher consumer engagement.

 

Market participants are improving their brand presence through promotional activities at international events and through sponsorships. Market frontrunners have captured significant market share through robust distribution networks and integrated sales channels, avoiding margin leakage. Long-term partnerships across sales channels have enabled manufacturers to generate consistency in demand.

 

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Market Segments Covered in Kiteboarding Equipment Industry Research

• By Equipment/Gear:
• Kiteboards
• Twin-Tip Kiteboards
• Light Wind Kiteboards
• Wave Kiteboards
• Foil Kiteboards
• Other Types
• Kites
• C-Kites
• Hybrid C-Kites
• Delta Kites
• Foil Kites
• Kite Bars
• 3-Line Kite Bars
• 4-Line Kite Bars
• 5-Line Kite Bars
• Kite Harness
• Waist Harness
• Seat Harness
• Safety Gears
• Eye Protection Gear
• Impact and Flotation Vests
• Helmets
• Accessories
• Straps and Bindings
• Kite Pumps
• Wind Meters
  
  
• By Kiteboard Size:
• <130 cm Kiteboards
• 131 – 140 cm Kiteboards
• 141 – 150 cm Kiteboards
• >150 cm Kiteboards

 

• By Kite Size:
• <8 meter Kites
• 9 – 13 meter Kites
• 14 – 18 meter Kites
• >18 meter Kites

 

• By Consumer Orientation:
• Kiteboarding Equipment for Men
• Kiteboarding Equipment for Women
• Unisex Kiteboarding Equipment
• Kiteboarding Equipment for Kids

 

• By Sales Channel:
• Specialty Sports Outlets
• Direct to Customers
• Supermarkets & Hypermarkets
• Third-party Online

 

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Competitive Landscape

According to the kiteboarding equipment industry analysis, North Kiteboarding, F-One, Best Kiteboarding, Cabrinha Kites, RICCI INTERNATIONAL SRL, Go Foil, Inc., Duotone, Slingshot Sports, Naish International, Peter Lynn Kiteboarding, Nobile Sports Sp. z o.o., Airush Kiteboarding, Fly Surfer Kiteboarding, Crazy Fly s.r.o., Eleveight, Switch Kiteboarding, Core Kiteboarding GmbH, Kite Attitude, Fletcher Chouinard Designs, Inc, and Lite Wave Designs are identified as key manufacturers of kiteboarding equipment.

 

These companies depend on a blend of organic & inorganic strategies to increase penetration across productive markets. Such approaches include partnerships and collaborations, new product launches, acquisitions of emerging players, and strengthening of global and regional distribution networks.

* This article was originally published here