Rising number of tourists in APAC and MEA region, rising government support for maintaining and preserving snorkeling sites, Increase in participation in water sports activities and use of updated technology in product designing were regarded as the drivers of growth for the year 2012-2017.
Global Snorkeling Market has been highly fragmented on a global level however; various manufacturing companies have strong hold in their regional/home markets. In the year 2017, the global snorkeling equipment market accounted for the share of 11.8% in the global water sports equipment market. Growth in the market was highly supported by government efforts in various countries including Spain, Dubai, Italy, India, and Australia over the past few years. These attempts in terms of higher sport-marketing were done to increase the revenue generated from the tourism industry. The largest market for snorkeling equipment in the world during the period 2012-2017 was Americas, followed by APAC.
Technology innovations, rising popularity of the sport, spreading awareness of the health benefits of snorkeling, growing interest of consumers in outdoor recreational activities, availability of wide range of snorkeling equipment and online retail market have primarily surged market growth. It is observed that most established snorkeling equipment manufacturers depend on small factories or outsourced processes for manufacturing equipment parts. Moreover, the suppliers also do not depend on one particular manufacturer for their revenues. The major customer set for the snorkeling equipment market is institutions that conduct water sports and individual customers. During last 5 years, the market has witnessed an increased emphasis on water sports activities by various government bodies especially tourism boards in the leading markets like Americas and APAC. In an attempt to generate higher revenue from the tourism industry, various tourism boards especially in the US, France, Germany and in developing countries of APAC, have been putting great efforts to promote Snorkeling and other similar water sports activities amongst tourists & travelers to generate higher revenues.
Influenced by the health benefits of the sport including enhancing lungs strength and strengthening of vital muscles throughout the body, such as calves, ankles, quads, hamstrings and hip flexors, among others, new customers have been attracted to the market.
The report titled “Global Snorkeling Equipment Market Outlook to 2022 – By Equipments (Snorkels, Snorkeling Masks, Snorkeling Fins and other accessories), By Region (Americas, Europe, APAC and MEA) and By Distribution Channel (Company Stores & Specialty Stores, Hypermarkets, Online Stores, Small Retail Stores)” observed that the snorkels are expected to be the leading snorkeling equipment in the market supported by an increased replacement rate and being the most important equipment in the snorkeling equipment market. It is anticipated that the snorkeling equipment market revenue shall reach USD 2.1 billion by the year 2022.
For more information on the research report, refer to below link:
The report covers market introduction, market nature, value chain analysis and market size on the basis of consumer expenditure in detail. Market Segmentation by Equipments (Canoes & Kayaks and Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets/Department Stores/Supermarkets and Others) have been given prime importance.
The report is useful for water sports equipment manufacturers, rafting 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.
The report facilitates the reader with the identification and in-depth analysis of the existing and future trends and issues that impact the industry. The report apprises the reader on the growth in the future depending upon changing industry dynamics in coming years. The report is useful for water sports equipment manufacturers, Jet Ski 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.
Ankur Gupta, Head Marketing & Communications