LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global parasailing equipment market is expected to grow at a CAGR of more than 4% during the forecast period.
This research report titled ‘Global Parasailing 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.
According to Sharan Jagannath, a lead analyst at Technavio for retail goods and services research, “The growth of the global parasailing equipment market is largely derived from the boom in the adventure tourism industry, which is expected to grow at a CAGR of close to 47% during the forecast period. The key factors contributing to the growth of the market include increasing urbanization, globalization, evolving lifestyles, changing demographics, and increasing awareness of new products.
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The market research analysis categorizes the global parasailing equipment market into four major product segments. They are:
- Parasails
- Parasailing harness
- Parasailing tow line
- Parasailing protective gear
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Global parasail market
A parasail or parasail canopy is a parachute. It is typically round and sometimes rectangular. A dome-shaped parasail is also popular. A parasail consists of many vents that allow better maneuverability in the air. Manufacturers design parasails to hold different amounts of weight. Parasails with higher weight limits such as 500 pounds can hold two or three people at the same time. They also come in different colors, mostly bright. Users also have a choice of customizing their own parasails.
Global parasailing harness market
Apart from parasails, harnesses are the most important equipment in parasailing. Harnesses are mostly used to connect the participants to the parasail lines using metal links, which are often made of high tenacity polypropylene webbing and 316 marine quality stainless steel.
Another type of harness is the body harness, which is used for the participant to sit on during the flight. It consists of a seating strap, lower back strap, an adjustable waist strap, and two leg straps. The market for parasailing harnesses in terms of replacement is moderate, as they last for more than six months after which they need to be replaced.
Global parasailing tow line market
A tow line acts as a parasailer's lifeline. It is available in many lengths, ranging from 600-1,200 feet. A tow line compatible with the winch system is usually made of polyethylene terephthalate, as the material allows stretching to enable slight bouncing of the participants as they are towed behind on the water body. Manufacturers have also come out with double braided lines to provide additional strength. They also have a waxed coating to reduce wear and tear. The tow lines need to be changed every 400 rides to avoid any accident or mishap.
Global parasailing protective gear market
Parasailing protective gear includes helmets, variometers, and hook knives. Helmets for parasailers are of two types: open-face and full-face helmets. Full face helmets are widely used for extreme parasailing and the open-face ones for other types of parasailing. These helmets come with adjustable chin straps that keep the helmet in place.
“The demand for protective gear is increasing worldwide because of government regulations on wearing protective gear. Parasailing helmets for aviation use provide the best impact protection, providing safety to parasailers who might hit the water, the boat, or land at high speed,” says Sharan.
Variometers provide information on altitude and descent rate. This provides parasailers necessary information about air currents, which would help them in changing altitude, as allowed by the tow line length. Hook knives are mainly used to cut through the chute lines if the participants land in water. This would help reduce the possibility of tangling in the lines, which could hamper swimming once in the water.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Custom Chutes
- Sport Chutes Over Texas
- Commercial Water Sports
- Ascending Parachutes International
- Waterbird Parasails
- Sportlite
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