LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global paddle sports equipment market 2017-2021 report. This market research report also lists six other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global paddle sports equipment market is expected to grow at CAGR of close to 13% during the forecast period. The market is highly competitive due to advances in technology and rapid changes in consumer preference. Therefore, to survive and succeed in a competitive environment, it becomes imperative for the suppliers in the market to distinguish their product and service offerings through a clear and unique value proposition.
Vendors operating in this space compete on several factors such as price, quality, brand, and variety. Different companies focus on different strategies to increase their shares in the global market.
“The expansion of product lines is one such strategy, which would provide an opportunity to the leading players to maintain their dominance in the market during the forecast period. Moreover, the practice of sustainability is essential for future production and is followed by major competitors and other prominent competitors,” says Brijesh Kumar Choubey, lead retail goods and services analyst from Technavio.
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Technavio consumer and retail market research analysts identify the following key vendors:
AIRE
The company manufactures different water boats for sporting activities. These include rafts, canoes, kayaks, catarafts, standup paddle boards, and river tubes. Apart from these products, the company is involved in the manufacture of various water sporting accessories, such as bags, camping equipment, oars, oars accessories, kayak outfitting, etc.
BIC Sport
BIC Sport established itself as a world leader in the manufacture of windsurf. It also focuses on honing its technological manufacturing skills, which include focusing on sports, such as kayaking, junior racing dinghies, and standup paddle boarding, along with maintaining its leadership in the manufacture of surfing equipment.
HYSIDE Inflatables
The company started out with producing military grade pontoon bridges and life rafts. It produces rafts, kayaks, and catarafts. Along with its core products, the company also manufactures boat parts and accessories, boat care and repair products, safety and rescue products, and clothing for water sports. The company also looks at customizing watercraft for its consumers.
NRS
The company manufactures products such as rafting, kayaking, standup paddle boards, camping, and fishing equipment. Apart from these products, the company also manufactures various accessories for these sports. The company has also ventured into water sporting apparel along with, various sun protection and insulation products.
SOTAR
The company designs and manufactures rafts and kayaks. It currently offers a wide range of equipment, including, rafts, catarafts, and kayaks. The company also looks at custom building rafts and products. Apart from customization, the company also focuses on the production of technologically advanced products. The company credits itself for the pioneering use of computer-aided design, thermo-welded seams, and no-glue construction of boats.
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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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