Global Stand Up Paddle Board Market 2016-2020
About Stand-Up Paddle Board
The soft adventure sporting goods market, especially SUP board, holds great growth potential globally. It is mainly driven by the growing interest of consumers in outdoor recreational activities and the availability of a wide range of SUP boards. In addition, the tourism industry has also encapsulated water sports among the various activities available for domestic and international tourists.
Technavio’s analysts forecast the global stand-up paddle board market to grow at a CAGR of 15.05% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global stand-up paddle board market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of SUP boards and accessories to individual consumers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Stand-Up Paddle Board Market 2016-2020
Technavio recognizes the following companies as the key players in the global stand-up paddle board market: BIC Sport, Naish, Red Paddle, Starboard, and Tower.
Other Prominent Vendors in the market are: AIRHEAD SUP, Aqua Marina, Imagine Paddle Surf Co., RAVE Sports, Solstice Sports, and Surftech.
Commenting on the report, an analyst from Technavio’s team said: “I-SUPs provide easy storage and portability option, convenient for most SUP boarding enthusiasts. Unlike rigid SUPs, which take up quite some space and can be difficult to be stored in apartments, an I-SUP can be easily placed in a closet or a car trunk. Generally, traditional SUPs provide a much sturdier balance and stability in comparison to I-SUPs. I-SUPs also stand as the economical option while purchasing a SUP board. An I-SUP costs much lesser than the traditional SUP, offering value for money, especially to enthusiasts who surf often.”
According to the report, increased consumers' preference for nature-based outdoor adventures can lead to the demand for water sporting equipment. The increased interest in recreational water sports is expected to be a key driver of the global SUP board market during the forecast period. Along with traditional water sporting activities, the youth today is participating and showing a budding interest in many novel water sports activities, including SUP boarding.
Further, the report states that SUP boards are relatively high priced, and this associated price with SUP boarding tends to restrict the potential market growth, especially among people engaging in paddle boarding casually. The average cost of quality SUP boards is more than $2,050. This high cost of SUP boards offered by global vendors results in a significant challenge to the renowned global vendors. This is because many people do not purchase such high-priced paddle boards and only prefer renting them.
BIC Sport, Naish, Red Paddle, Starboard, Tower, AIRHEAD SUP, Aqua Marina, Imagine Paddle Surf Co., RAVE Sports, Solstice Sports, Surftech.