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Kiteboarding Equipment Market

Kiteboarding Equipment Market

Kiteboarding Equipment Market Analysis by Equipment/Gear (Kiteboards, Kites, Kite Bars, Kite Harness, Safety Gears), by Kite Size (<8 meter Kites, >18 meter Kites), by Consumer Orientation, by Sales Channel, by Region - Global Forecast 2022-2032

Kiteboarding Equipment Market
FACT420MR
  • Feb-2022
  • List of Tables : 92
  • List of Figures : 371
  • 170 Pages
  • Sports

Global Kiteboarding Equipment Market Outlook

The global kiteboarding equipment market is set to be valued at US$ 909 Mn in 2022, and is forecast to surpass US$ 3.6 Bn by 2032, surging ahead at an impressive CAGR of 14.7% from 2022 to 2032.

Report Attributes

Details

Kiteboarding Equipment Market Size (2021A)

US$ 804 Mn

Estimated Year Value (2022E)

US$ 909 Mn

Projected Year Value (2032F)

US$ 3.6 Bn

Global Growth Rate (2022-2032)

14.7% CAGR

North America Market Share (2021)

~42%

North America Market Growth Rate (2022-2032)

15.2% CAGR

Collective Value Share (U.S., Germany, U.K) (2021): Top 3 Countries

~40%

Market Share of Top 5 Companies (2021)

~24%

Key Companies Profiled

  • North Kiteboarding
  • F-One
  • Best Kiteboarding
  • Cabrinha Kites
  • RICCI INTERNATIONAL SRL
  • Go Foil, Inc.
  • Duotone
  • Slingshot Sports
  • Naish International
  • Peter Lynn Kiteboarding
  • Nobile Sports Sp. z o.o.
  • Airush Kiteboarding
  • Fly Surfer Kiteboarding
  • Crazy Fly s.r.o.
  • Eleveight
  • Switch Kiteboarding
  • Core Kiteboarding GmbH
  • Kite Attitude
  • Fletcher Chouinard Designs, Inc.
  • Lite Wave Designs
  • Other Market Players

The water sports equipment market was valued at US$ 25 Bn in 2021, whereas, sales of kiteboarding equipment reach US$ 804 Mn. As such, kiteboarding equipment enjoyed around 3% market penetration in the global water sports equipment market.

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2017-2021 Industry Analysis of Kiteboarding Equipment in Comparison to 2022-2032 Growth Forecasts

As per latest industry analysis published by Fact.MR, a market research and competitive intelligence provider, the global kiteboarding equipment market is expected to reach a valuation of around US$ 909 Mn in 2022. Sales of kiteboarding equipment are slated to accelerate at an impressive CAGR of 14.7% to reach US$ 3.6 Bn by 2032.

Demand for third-party online sales channels is likely to increase at a promising CAGR of 16% over the assessment period of 2022 to 2032.

Numerous kiteboarding teams and vendors have active social media channels and strong media presence as consumer feedback and engagement remain crucial for marketing.

North America is a prominent regional market due to rising demand for kiteboarding equipment in the U.S., which is anticipated to expand at a CAGR of 15.2% and reach a market value of US$ 1.1 Bn by 2032.

The South Asia region will hold market value of around US$ 50 Mn in 2022, owing to the high rate of technology adoption. The East Asia and Europe market contributed significantly to the growth of kiteboarding equipment, and accounted for around 8.9% and 32.7% market share in 2021, respectively.

Kiteboarding Equipment Market forecast analysis by Fact.MR

Which Factors are Driving the Popularity of Kiteboarding?

Rising popularity of adventure tourism coupled with proliferating beach culture has been powering market growth for kiteboarding equipment. Travellers are increasing their spending on adventure sports such as kiteboarding, over staying at hotels during holidays.

Increasing awareness of kiteboarding via social media is propelling demand for kiteboarding equipment. Kiteboarding is widely celebrated as an adventurous activity, especially in beach and water coast countries. Governments in countries such as the U.S and Canada are encouraging water adventurous sports and activities such as kiteboarding to drive gains in their tourism industry.

Kiteboarding equipment manufacturers are collaborating with tourism companies to expand their reach to a wider consumer base. Growing participation of celebrities in adventurous activities coupled with increasing posts on social media is driving interest among young kite boarders, which is further expected to become a major trend in the market. Social media is playing a vital role in increasing the number of kiteboarding enthusiasts.

An Adaptive Approach to Modern-day Research Needs

Which Industry is Adding Most Value to the Kiteboarding Equipment Market?

“Tourism Sector to Majorly Drive Kiteboarding Equipment Sales”

The tourism industry has been investing huge sums in elevating the growth standards of adventure sports to promote better global tourism. This is also a key contributor to the growth of the global market. Social media marketing and other inbound hacks have also played a major role in promoting adventure sports across the world.

The market for kiteboarding equipment has seen unprecedented growth in South Asia and Oceania due to the presence of several countries with beaches and water bodies. This is likely to push these regional markets to valuations of US$ 50 Mn and US$ 55 Mn, respectively, in 2022.

What Can Stunt Kiteboarding Equipment Demand Growth to Some Extent?

“High Cost Factor and Dangers Associated with Kiteboarding Hampering Demand Growth”

Kiteboarding is considered a risky sports activity. A large number of incidents of injuries and drowning during kiteboarding have been observed, thereby hampering the adoption of kiteboarding equipment.

Increasing changes in climate and the resulting impact is also likely to hinder growth of the market. Kiteboarding is also a costly affair. Consumers have to shell out hefty amounts of money for purchasing safety equipment. This particular factor is restraining people from opting for kiteboarding, which is naturally hindering the growth of the global market.

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Country-wise Analysis

How is the Australia Kiteboarding Equipment Market Performing?

“High Prevalence of Adventure Tourism in Australia Driving Sales”

Australia is attracting a large number of travelers every year mostly in summer because of their interest in going on adventure trips. Over the period of 2017-2021, demand for kiteboarding equipment in Australia surged at a CAGR 8.2% and was valued at US$ 26 Mn in 2021, which is projected to top US$ 97 Mn by the end of forecast period.

What is the Growth Outlook for the U.S.-based Kiteboarding Equipment Market?

“U.S. Market Benefitted by Large Number of Kiteboarding Equipment Manufacturers”

The market for kiteboarding equipment in the U.S. is anticipated to rise at a CAGR of 16% over the forecast period due to a number of famous kiteboarding competitions and champions in the country, such as the Kite Foil National Championship and Formula Kite World Championship.

In 2020, there were about 63 million travelers to the U.S, a sudden downfall of 74% as compared to 2019. However, the U.S. is a pioneer in the North America kiteboarding equipment market, with over hundreds of small- to medium-sized kiteboarding equipment manufacturing companies operating in the country.

Category-wise Insights

Which Sales Channel is Driving Huge Revenue Generation for Kiteboarding Equipment Suppliers?

“Third-party Sales of Kiteboarding Equipment Surging”

The evolving trend of online sales across the globe is important for the growth of the market. In addition, rising demand for social distancing and non-contact during the COVID-19 pandemic is likely to play a key role in people refusing to visit shops and ordering online through various e-Commerce websites.

Third-party online sales is the most lucrative sales channel these days with a total valuation of US$ 346 Mn in 2021.

Companies are currently focusing on online sales due to consumers’ inclination towards online companies such as Amazon, Walmart, etc. The third-party online segment is projected to create an absolute opportunity of more than US$ 1 Bn, expanding at a CAGR of 16.0% over the forecast period.

Which Equipment/Gear Type is Most Sought-after in the Growing Water Sports Industry?

“Kiteboards Most Widely Demanded Equipment across Regions”

The kiteboards segment in equipment/gear type will hold a market share of 16.4% by the end of 2022. Over the historic period of 2017-2021, sales of kiteboards surged 1.5X due to high engagement in kiteboarding games, increasing disposable income levels, and rising surf tourism.

The kiteboard segment is expected to be valued at US$ 559 Mn by 2032.

Competitive Landscape

According to the kiteboarding equipment industry analysis, North Kiteboarding, F-One, Best Kiteboarding, Cabrinha Kites, RICCI INTERNATIONAL SRL, Go Foil, Inc., Duotone, Slingshot Sports, Naish International, Peter Lynn Kiteboarding, Nobile Sports Sp. z o.o., Airush Kiteboarding, Fly Surfer Kiteboarding, Crazy Fly s.r.o., Eleveight, Switch Kiteboarding, Core Kiteboarding GmbH, Kite Attitude, Fletcher Chouinard Designs, Inc, and Lite Wave Designs are identified as key manufacturers of kiteboarding equipment.

These companies depend on a blend of organic & inorganic strategies to increase penetration across productive markets. Such approaches include partnerships and collaborations, new product launches, acquisitions of emerging players, and strengthening of global and regional distribution networks.

Some of the key developments are:

  • In 2021, Duotone launched a new product called kite bags and some apparel made from recycled plastic. Growing emphasis among consumers on environmental conservation will drive the sales of such products.
  • In 2021, North Kiteboarding launched one freeride kite, which is lighter in weight. The company also adopted lightweight bladders across all sizes in the range, refined the shape, and retuned the short responsive bridle for quick, exponential depower.
  • In 2021, Slingshot Sports launched new kiteboarding equipment called the SST V6 kite. The SST V6 is lighter and more streamlined with a strategic design to enhance wave-riding performance.
  • In 2020, North Kiteboarding extended its partnership with Red Bull South Africa for the King of the Air kiteboarding competition
  • In 2020, F-One updated its various kiteboarding equipment, such as kiteboards with new vertical panel layouts. Such updates in materials and new designs are improving the profile of the company
  • In 2020, Cabrinha Kites was acquired by Water bound Investment Company. The new ownership will focus more on the advancement of product development and athlete partnerships.

Similarly, recent developments by top providers of kiteboarding equipment have been tracked by the team at Fact.MR, which are available in the detailed report.

Market Segments Covered in Kiteboarding Equipment Industry Research

  • By Equipment/Gear:

    • Kiteboards
      • Twin-Tip Kiteboards
      • Light Wind Kiteboards
      • Wave Kiteboards
      • Foil Kiteboards
      • Other Types
    • Kites
      • C-Kites
      • Hybrid C-Kites
      • Delta Kites
      • Foil Kites
    • Kite Bars
      • 3-Line Kite Bars
      • 4-Line Kite Bars
      • 5-Line Kite Bars
    • Kite Harness
      • Waist Harness
      • Seat Harness
    • Safety Gears
      • Eye Protection Gear
      • Impact and Flotation Vests
      • Helmets
    • Accessories
      • Straps and Bindings
      • Kite Pumps
      • Wind Meters
  • By Kiteboard Size:

    • <130 cm Kiteboards
    • 131 – 140 cm Kiteboards
    • 141 – 150 cm Kiteboards
    • >150 cm Kiteboards
  • By Kite Size:

    • <8 meter Kites
    • 9 – 13 meter Kites
    • 14 – 18 meter Kites
    • >18 meter Kites
  • By Consumer Orientation:

    • Kiteboarding Equipment for Men
    • Kiteboarding Equipment for Women
    • Unisex Kiteboarding Equipment
    • Kiteboarding Equipment for Kids
  • By Sales Channel:

    • Specialty Sports Outlets
    • Direct to Customers
    • Supermarkets & Hypermarkets
    • Third-party Online
  • By Region:

    • North America Kiteboarding Equipment Market
    • Latin America Kiteboarding Equipment Market
    • Europe Kiteboarding Equipment Market
    • East Asia Kiteboarding Equipment Market
    • South Asia & Oceania Kiteboarding Equipment Market
    • Middle East & Africa Kiteboarding Equipment Market

- FAQs -

The global kiteboarding equipment market is estimated to reach a valuation of more than US$ 909 Mn in 2022.
Kiteboarding equipment sales are projected to increase at a CAGR of 14.7% during 2022–2032.
Value sales of kiteboarding equipment increased at a CAGR of 8.9% during 2017–2021.
Increasing participation in recreational water sports is one of the primary factors driving demand for kiteboarding equipment.
North Kiteboarding, F-One, Best Kiteboarding, Cabrinha Kites, RICCI INTERNATIONAL SRL, Go Foil, Inc., and Duotone are prominent kiteboarding equipment suppliers.
Top 5 countries driving most demand for kiteboarding equipment are the U.S., Germany, U.K., Malaysia, and Japan.
Europe accounted for over 33% market share in the global kiteboarding equipment in 2021.
The Oceania kiteboarding equipment market is projected to expand at a CAGR of around 13.5% during 2022–2032.
Kites held a dominating position with 36% market share in kiteboarding equipment industry in 2021.

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