Global Rafting Equipment Market Overview
In the past few years, river rafting has gained immense popularity as a recreational activity, which has, in turn, increased the demand for rafting equipment. Rafting has emerged as an adventurous outdoor activity for all age groups across the globe. Despite the thrill of the movement, rafting requires specific equipment to address safety concerns such as an inflatable boat, life jackets, helmets, paddles, drysuits and wetsuits and throws bags. According to CNN, around 530 people have died while rafting between 2007 and 2017. These facts further voice the safety concerns and the need for awareness towards the use of rafting equipment during the activity.
Global Rafting Equipment Market Dynamics
The key factors driving the demand for water sports and rafting equipment market are the focus of government bodies in cross-border collaboration, sustainable development, and quality improvements. Many regional governing bodies have also started promoting water sports, such as rafting, to generate the revenue from the tourism industry across the globe. The change in lifestyle of people and their expenditure in the recreational sporting activities drive the growth of the global market of rafting equipment. The incremental investment of small manufacturers in the rafting equipment market increases the competition across the globe; this drives the dynamics of the market. Growing popularity for rafting and other recreational activities have also promoted the sales of rafting equipment in the global market and will witness growth over the forecast period, 2018-2028. Recognition of the International Rafting Federation is also expected to aid in the expansion of rafting equipment market.
The rafting equipment market is mainly affected by some challenges such as increased cost of inflatable rafting boats which leads to the preference of rental boats. Recreational rafting primarily depends on the weather conditions and is a seasonal sport this will restraint the global rafting equipment market growth. Many people fear the high degree of risk in recreational sports and prevent themselves to involve in such activities which subsequently controls the global rafting equipment market.
The latest trend in recreational sporting is the demand for artificial water sports experiences, and it pulls the global rafting equipment market towards growth.
Global Rafting Equipment Market: Segmentation
Global Rafting Equipment Market Segmentation according to product type:
- Inflatable boats
- Life Jackets
- Rafting Paddles
- Aluminum Paddles
- Carbon Paddles
- Rescue Throw Bags
Global Rafting Equipment Market Segmentation according to sales channel:
- Online Retail or E-commerce
- Sporting goods retail
- Supermarkets or departmental stores
Rafting Equipment Market Segmentation by region:
- North America
- Latin America
Global Review of Rafting Equipment Market
The participation of tourism boards at a regional and global level in the sports led to a rise in recreational sports tournaments which further drives the growth of rafting equipment market.
The improvement of e-commerce business and the growing curiosity of people towards recreational activities are the primary driving factors of the rafting equipment market across the globe. The majority of manufacturer and exporter which leads the rafting equipment market are in North America and Europe.
USA and Canada is the largest market for rafting equipment and will continue to dominate in the forecast period, 2018-2028. The global rafting equipment market is competitive due to the presence of many prominent and middle-sized players. The key factors responsible for the growth of the rafting equipment market is the increasing participation of regional players in the global market.
Global Rafting Equipment Market: Prominent Players
Some of the prominent players in the rafting equipment market are SOTAR, Maravia, AIRE, Rave Sports, Aqua Marina, HYSIDE, Vanguards, NRS, Wing Inflatables and some others. In the global market, these players of rafting equipment are mainly focusing on developing the quality of the product at a minimal cost. They introduced two new fabric named as Lexatron and Hypalon for rafting equipment which is stronger, durable and light in weight over the conventional fabric PVC. According to our research, the overall market for rafting equipment is expanding and will continue to grow in forecast period 2018-2028.
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