Canoe And Kayak Equipments Market Size, Share & Trends Analysis Report By Equipment & Accessories, By Distribution Channel (Online, Offline), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Canoe And Kayak Equipments Market Size, Share & Trends Analysis Report By Equipment & Accessories, By Distribution Channel (Online, Offline), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Canoe And Kayak Equipments Market Growth & Trends

The global canoe and kayak equipments market is anticipated to reach USD 727.8 million by 2030 and is anticipated to grow at a CAGR of 4.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rise of rental and sharing economy models is contributing to the market growth. Rental services provide access to high-quality equipment for short-term use, making paddling more accessible to a broader audience. In addition, some companies offer subscription models or membership programs that allow consumers to access a variety of equipment throughout the year. This flexibility enables new participants to participate in the sport and can eventually lead to increased sales as renters decide to purchase their gear.

Moreover, various governments are investing in developing and maintaining outdoor recreation infrastructure, including water trails, boat launches, and paddling parks. These investments improve access to paddling locations and enhance the overall paddling experience. In addition, government programs promoting physical activity and outdoor recreation encourage more people to take canoeing and kayaking. By facilitating access and providing incentives, these policies help stimulate interest in paddling sports and drive demand for related equipment.

Moreover, the role of educational programs and certification courses in promoting paddling sports is driving the market growth. Organizations such as the American Canoe Association (ACA) and the British Canoeing Association offer comprehensive training programs and certifications that educate paddlers on techniques, safety practices, and environmental responsibility. These programs equip paddlers with the necessary skills and knowledge. As a result, more individuals are encouraged to take canoeing and kayaking, knowing they can receive proper training and certification, which drives demand for quality equipment.

Canoe And Kayak Equipments Market Report Highlights

• Based on equipments & accessories, the paddles segment led the market with largest revenue share of 22.6% in 2023. The trend towards personalized and customizable paddling gear is increasing demand for paddles segment
• Based on distribution channel, the online segment is expected to witness at the fastest CAGR during the forecast period Virtual try-on and augmented reality features on e-commerce websites are creating opportunities for online segment
• Based on end use, the recreational segment led the market with the largest revenue share of 45.5% in 2023. The growing popularity of staycations and local travel is driving the market growth
• Europe dominated the market with the largest revenue share of 33.4% in 2023. Growing interest in eco-friendly and sustainable tourism is driving demand for canoe and kayak equipment in Europe
• In May 2022, Pelican, a paddle sports company, acquired GSI Outdoors, an outdoor equipment company. This transaction represents Pelican's expansion strategy, strengthening its position and diversifying its product offerings in the North American and international outdoor markets. By acquiring GSI Outdoors, Pelican aims to be an eco-friendly leader in the outdoor equipment sector

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