LONDON--(BUSINESS WIRE)--The global wakeboarding equipment market is expected to grow at a CAGR of almost 12% during 2020-2025, according to the latest market research report by Technavio. The research report offers a detailed analysis on the pandemic impact, emerging opportunities, and business recovery options for the stakeholders in the consumer discretionary industry. The pandemic-oriented insights provided in the report also help clients in getting updated with vendor movements, logistics and supply chain operations in the related markets facing direct & indirect COVID-19 impact.
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Consumer Discretionary Industry and Market Highlights
- Consumer discretionary industry will have a Negative impact due to the pandemic
- Wakeboarding equipment market is expected to witness Negative growth during 2020-2024
- Consumer discretionary industry will witness Indirect impact while heading toward the new normal
- Wakeboarding equipment market demand is likely to Increase in 2020 compared to 2019 due to Positive YOY
The growing popularity and subsequent adoption of wakeboarding has been a prominent factor in boosting the market growth during the forecast period. An increase in the demand for eco-friendly wakeboarding equipment will also impact the market as well as consumer durables and apparel industry positively in the forthcoming years.
By product, the protective gear segment is expected to dominate the wakeboarding equipment market during the forecast period. Factors responsible for this growth are the rising use of life jackets and helmets, awareness of injuries, and strict instructions to wear protective gear.
By geography, North America held the largest wakeboarding equipment market share during 2020-2025. The region will contribute the highest growth due to the presence of several championships and events and increasing participation of women in wakeboarding.
Technavio’s vendor landscape provides a framework to estimate the growth map for various markets in the consumer durables and apparel industry, while also categorizes the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters. Some of the prominent players in the market are Airhead Sports Group, Boardriders Inc., BuyWake.com, Connelly Skis LLC, and Dongguan Yongsheng Lifesaving Equipment Co. Ltd.
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