Kiteboarding equipment sales are projected to increase at a CAGR of 14.7% during 2023-2033

According to a recent report by Fact.MR, a market research and competitive intelligence provider, in 2023, the global Kiteboarding Equipment Market will be worth approximately US$ 1,042.62 Million. Kiteboarding equipment sales are expected to grow at a 14.7% CAGR to reach US$ 4,109.23 Million by 2033.

During the historical period, the increasing popularity of adventure tourism, associated with the proliferation of beach culture, stimulated market growth for kiteboarding equipment. During their vacations, travellers prefer adventure sports such as kiteboarding to staying in hotels. Thus, Kiteboarding electronics manufacturers are partnering with tourism enterprises to reach a wider consumer base.

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The inclusion of kiteboarding in the Olympics is another primary driver of the global kiteboarding equipment market. Kiteboarding has grown in popularity in recent years, with people from all around the world taking part.

The industry for kiteboarding equipment in the United States is anticipated to grow at a CAGR of 16% over the forecast years because of the large number of well-known kiteboarding competitions and champions in the country, such as the Kite Foil National Championship and Formula Kite World Championship. In contrast, the United States is an innovator in the North American kiteboarding equipment market, with hundreds of small- to medium-sized kiteboarding equipment industrial companies running across the country.

Key Takeaways from Market Study

With a total valuation of US$ 346 Million in 2021, third-party online sales are currently the most successful marketing channel.
Over the forecasted timeframe, the third-party online segment is estimated to produce more than US$ 1 billion, growing at a CAGR of 16.0%.
By the end of 2022, kiteboards will tally for 16.4% of the equipment/gear market.
Kiteboarding equipment value sales increased at an 8.9% CAGR between 2018 and 2022.
In 2022, Europe held more than 33% of the global kiteboarding equipment market.

"Kiteboarding equipment manufacturers are cooperating with tourism businesses to reach a larger core audience. Growing celebrity involvement in exciting activities, in addition to more social media posts, is gaining demand among young kiteboarders, which is assumed to become a major trend in the industry." says a Fact.MR analyst.

Market Competition
Key players in the Kiteboarding Equipments market are 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.

Recent News

In 2021, Duotone launched a new product called kite bags, as well as some recycled plastic apparel. The growing emphasis on environmental conservation among consumers will drive sales of such products.
North Kiteboarding released a lighter-weight freeride kite in 2021. Furthermore, lightweight bladders were used throughout the board, the shape was refined, and the short responsive bridle was recalibrated for quick, accelerating depower.
In 2021, Slingshot Sports released the SST V6 kite, an innovative kiteboarding device. The SST V6 is lighter and more streamlined, with a more strategic approach to wave performance.

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More Valuable Insights Available

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The study divulges essential insights on the market on the basis of, Equipment/Gear (Kiteboards, Kites, Kite Bars, Kite Harness, Safety Gears), by Kite Size (18 meter Kites), by Consumer Orientation, by Sales Channel, across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).

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This release was published on openPR.