The global water sports equipment & supplies market is expected to increase at a CAGR of 5.3% over the next forecast period, thereby reaching a total market size of close to $60 billion by the end of the year 2021. Sport has increasingly gained importance as one of the most active and exciting recreational forms of entertainment. This has led to unprecedented growth in the sales of water sports equipment and supplies, both offline and online.
In this report, the focus will be on segment trends and other market dynamics such as pricing, marketing strategies, supply chain, and channel structures. By the time of this article, there are five major segments that have shown an increase in sales over the last few years. These are surf, wakeboarding/sailing, windsurfing, water skiing, and para-sailing.
Although the major growth areas recorded so far are related to leisure and recreation activities, there are certain segments that have shown robust growth in the last few years. One of these is the water sports equipment and supplies market for aqua Lung. This has been fuelled by several promotions and offers by leading companies such as Aqua Lung, Aquaman, AquaVantage, Aqua Lung, Oceanic Outlets, etc., as well as by positive media coverage and positive PR campaign implemented by Aqua Lung.
Water Sports Equipment
In aqua Lung, the focus is on its comprehensive range of accessories to cater to a wide variety of water sports activities and styles. Accessories include helmets, gloves, flotation devices, paddles, wetsuits, caps, boards, and more. With the increasing popularity of water sports activities, a number of manufacturers have launched their own lines of aqualung products in order to take advantage of this growing sector. Some of the leading brands are Cans, Duratone, Durafl, Hydroxycut, Oceanic Outlets, and more.
The accessories market for the Aqua Lung brand has continued to develop and expand due to strong marketing strategies adopted by the company. While some segments have declined, others have grown substantially. In the men’s water sports equipment segment, growth has been notable with an increase in the total units sold (over half) and the variety of products launched. In the ladies’ segment, growth has been less, but products are launching regularly. The overall result of growth in the Aqua Lung brand is encouraging considering the continuing high demand in this segment.
A Much Ado
Another significant development in the water sports equipment and supplies market for the brand is the inclusion of new product types such as surfboards. This has come as a major surprise considering that surfboards have been a part of the product type for many years. However, the new surfboards being introduced by the company have received rave reviews from customers and experts alike. These boards sport the new technologies that are making them much more durable and flexible while providing the user with an excellent surfboard riding experience. Other accessories being added to the Surf Shop line include surfboards for kids and women’s boards.
New strategies adopted by the company in its product development and business management are also contributing factors to the growth of the brand. These strategies adopted by the company have resulted in new product types and major innovations in many areas. These innovations have been contributed to various segments of business, including apparel for professional athletes and golf professionals. Further, the company has launched its own digital signage platform which is helping it achieve widespread interest in the brand’s offerings.
Based on the above-discussed points, it is expected that Aqua Lung will emerge as the leader in the water sports equipment and supplies market in North America in the coming years. While this growth is expected to continue in the coming years, it is prudent to continue to have a close watch on the market and to take advantage of opportunities as and when they arise. This can be done by regularly visiting retail outlets, discount stores, and online outlets to sample the wares being sold by the company. Further, it is recommended to take advantage of special offers and discounts announced by retailers and other suppliers during the forecast period.