LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global rafting equipment market is expected to grow at a CAGR of close to 2% during the forecast period.
This research report titled ‘Global Rafting Equipment Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
“The past decade has witnessed an increased emphasis on water sports by various government bodies, especially tourism boards, to increase the revenue generated from the tourism industry. Water sports like rafting are among the most preferred recreational activities because of the adventure and health benefits associated with them”, says Brijesh Kumar Choubey, a lead analyst at Technavio for outdoor gear research.
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The market research analysis categorizes the global rafting equipment market into three major product segments. They are:
- Protective rafting gear
- Rafting accessories
- Inflatable rafting boats
Global protective rafting gear market
This segment of the global rafting equipment market includes helmets, rescue throw bags, and personal floatation devices or PFDs. The segment occupies the highest share of the market and is also expected to grow at the fastest rate in comparison to all the other rafting equipment. This is primarily because protective rafting gear products are used in bulk by rafting participants and water sporting institutes. Apart from the need to equip rafting boats with different sizes and formats of most of these products, they also require periodic replacements. The average pricing for all these products together stands at about USD 100, which makes the segment have a sizeable share of the market.
Global rafting accessories market
The second important revenue generating segment in the rafting equipment market includes products like rafting paddles and dry bags. Like the inflatable rafting boats, paddles are also designed for different heights, abilities, budgets, and the kind of rafting being practiced. While plastic and aluminum paddles are cheaper options in the market, carbon fiber shafts and blades are much lighter, offering better performance. The average price of paddles is about USD 75, and their market is expected to grow at the second-fastest rate in comparison to all the other product segments.
Global inflatable rafting boats market
Inflatable rafting boats are a basic requirement for pursuing and practicing rafting. An inflatable rafting boat is composed of a lightweight boat with its sides and bows made with flexible tubes that contain pressurized gas. Some inflatable boats are also designed such that they can be disassembled and packed into a small volume of space for easy transportation. Various styles of one-way valves are also used to add or remove air from these inflatable boats. Some inflatable boats also include the feature of inter-communicating valves, which help reduce the effect of air loss due to punctures.
“Fabric bottom inflatable boats are the most commonly used inflatable boats for recreational purposes like white water rafting, water skiing, inflatable rescue boat racing, and fishing, because these boats can be easily deflated, folded, and stored in compact bags for convenient travel,” says Brijesh.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- AIRE
- HYSIDE Inflatables
- Maravia
- NRS
- SOTAR
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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