The report provides a comprehensive analysis of global parasailing market introduction, market nature, market size and market segmentations by Equipments (Parasailing Tow Line, Parasailing Harness, Parasail and Parasailing Protective Gear), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others). The report extensively covers the entire value chain persisting in global parasailing market, analyst recommendations, SWOT Analysis along with competition scenario and competitive landscape of major players including Custom Chutes, Ascending Parachutes International, Waterbird Parasails, Sportlite, Alp Aksu Boats, Pegasus Parasails, Nautic Expo, Paradise Mount, Hovel International Parasail and others. The report facilitates the reader with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry. It provides the reader an idea regarding growth in the future depending upon changing industry dynamics in coming years. The report is useful for water sports equipment manufacturers, parasailing equipment manufacturers, distributors, specialty sporting goods stores, department stores, e-commerce portals, customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.
Analysts at Ken Research in their latest publication “Global Parasailing Equipment Market Outlook to 2022 – by Equipments (Parasailing Tow Line, Parasailing Harness, Parasail and Parasailing Protective Gear), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others)” has anticipated that owing to the sustained efforts towards better brand & product marketing by parasailing equipment manufacturers and rise in popularity of parasailing as a professional sport in different regions will aid the global parasailing equipment market in future.
- Parasail priced up to USD 2,500 is the highest selling products in the market. These are generally bought by professionals, parasailing camps, adventure sports agencies and rental stores. These are primarily bought through company stores and specialty stores.
- South Africa, Australia, New Zealand, Brazil and Mexico have been major hotspots for catering high demand for parasailing activities in 2017.
- US has been the market leader in terms of manufacturing and consumption demand of parasailing equipments worldwide. Major players operating in the region include Custom Chutes and Ascending Parachutes International. These players would dominate the competition landscape even in the forecasted period due to higher investments done towards new product launches and brand marketing activities.
- Owing to rise in stringent government regulations expected in future, protective parasailing gear products’ share is expected to expand within the parasailing equipment category in the forecast period.
Growth in the market was supported by the factors such as an increasing interest towards water sports activities in the developing countries especially in France, Germany, Australia, South Africa and New Zealand. Other factors such as high replacement rate of the parasailing equipments, technological advancements to enhance safety and spread of awareness of the physical and mental benefits associated with the sport have surged market growth. One of the major innovations done in their products includes the redesign of the original 16-panel parasail, to a more efficient, high lift, low drag canopy (HLLD). This development work continues into its second decade and allows commercial parasail operators to fly larger canopies with heavier payloads in a safer environment.
A high rate of replacement of major parasailing equipments has been a strong factor that supported market growth. Parasailing is a very risky and highly adventurous sport. It manifests a high risk of losing life in case of ignorance of even smallest of safety checks. Hence, majority of the equipments used for parasailing are chosen according to the manufacturer’s instructions. Technological advancements are generally made towards using best quality and long lasting material, to enhance safety associated with the sport. Hence, the replacement rate of the equipments is higher in comparison to the other water sports equipments. In addition, there has been an increase in the number of water sports facilities worldwide that has raised the number of parasailing destinations. For instance, the Andhra Pradesh government in India launched multiple number of water sports facilities in 2016, with the purpose of providing multiple options for adventure water sports activities that includes parasailing. Moreover, in the recent years parasailing activities like wheelchair parasailing have gained a significant importance among the people.
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Ankur Gupta, Head Marketing & Communications