Wakeboard Market
Wakeboard Market Study by Wakeboarding Protective Gears, Wakeboards, and Wakeboarding Clothing in Short and Longer Length From 2024 to 2034
Analysis of Wakeboard Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Wakeboard Market Outlook (2024 to 2034)
Worldwide revenue from the wakeboards market is estimated to stand at US$ 1.85 billion in 2024 and is slated to increase at a CAGR of 8.5% to reach US$ 4.34 billion by 2034.
Riding on a wakeboard is a lighthearted and enjoyable pastime known as wakeboarding. It is carried out in synthetic lakes and pools, as well as in natural waterways, such as rivers and seas. The goal of this sport is to do tricks quickly while floating gracefully over a variety of terrain, including waves for spins and awakening for leaps and twists.
Clothing, wakeboards, and protective gear are all part of the wakeboarding equipment. Continuous rockers, hybrid rockers, three-stage rockers, and five-stage rockers are among the wakeboard varieties.
When participating in water activities, wakeboarding clothing assists shield the body from the elements. Swimsuits are the most popular item of apparel among the wakeboarding gear, which also includes vests, shorts, and other clothing alternatives. The demand for wakeboard apparel has surged because of fashion innovation and inventiveness. The market is thus expected to develop because of the rising demand for wakeboarding clothing.
The majority of wakeboarding gear used in water sports is produced worldwide. Several manufacturers are now focusing more on creating environment-friendly wakeboarding gear due to the rising demand for such gear.
The leading wakeboarding equipment manufacturers are increasing the product's availability and awareness in several countries where consumers are very concerned about the environment. Therefore, it is anticipated that the growing demand for environment-friendly wakeboarding gear will present enormous growth prospects for the wakeboarding equipment industry worldwide.
| Report Attribute | Detail |
|---|---|
| Wakeboard Market Size (2024E) | US$ 1.85 Billion |
| Forecasted Market Value (2034F) | US$ 4.34 Billion |
| Global Market Growth Rate (2024 to 2034) | 8.5% CAGR |
| East Asia Market Growth Rate (2024 to 2034) | 11.2% |
| North America Market Value (2034F) | 733 Million |
| Wakeboards Segment Value (2034F) | US$ 2.9 Billion |
| Longer Length Segment Value (2034F) | US$ 2.82 Billion |
| Key Companies Profiled | Radinn; Jobbe; Shiner Ltd; Slingshot; Hyperlite; Malibu Boats; Ronix |
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What Impulses Demand for Wakeboards Globally?
There is growing awareness about sports injuries and penetration of social media covering sports telecasts that incentivize demand for the wakeboards. The stringent regulations about protective gear and the rising transformation in water sports are opening marketplaces for eco-friendly equipment with the popularity of extreme sports. This is evaluated to foster the demand for wakeboarding material and protective gear in the forecast period.
From the government stake, several regions, including Europe are framing policies for the addition of opportunities for sustainable water sports activities in this field. There is also a rise in the proposals of manufacturing wakeboards having multiple facilities, which are boosting manufacturing in the forecast period. The innovation in the products also attracts more young participants. These concerted efforts give traction to wakeboard market-facing otherwise sluggish growth.
The popularity of water sports is the driving force behind the demand. Moreover, there is a surge in the water parks, and water sports academies is anticipated to give traction to this industry in the forecast duration. The market is further expected to generate immense scope for the growth of wakeboarding activities in the future time.
What Restraints are Players in the Wakeboard Market Facing?
In the case of protective gears, the lower rate of replacement along with the long lifecycle creates restraints in the growth of the wakeboard market in the forecast period. The development of sales channels is a challenge ahead of companies.
Moreover, there is a decline in participation in water sports in regions, such as the United States that stagnate this market growth in the forecast period. In 2012, the number of United States participants in wakeboarding accounted for 3.35 million while the rate declined in a decade and reached 2.75 million participants in wakeboarding in 2022.
The scenario is similar on the global scale, which is raising concern about the decline in sales of wakeboards in the coming years.
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Which Strategies are Opted by Manufacturers?
Manufacturers in this field are focusing more on consumer preferences, as customers tend to buy products as on the fins, length, and material quality of wakeboards. As wakeboarding is still relatively new compared to other water sports, demand for wakeboards for beginners remains high.
As longer wakeboards are easier to ride and learn on, manufacturers are producing wakeboards with a length of around 150 centimeters or above. In addition, demand for compatible and comfortable bindings remains high. Market players are targeting beginners by making adjustable bindings available, as identified in the wakeboard industry analysis.
Manufacturers are also experimenting with a variety of raw materials, such as foam, wood core, and graphite to improve the durability and cost-efficiency of wakeboards. Apart from the length and raw materials used to manufacture wakeboards, the properties of fins have a major influence on the purchasing decisions of consumers.
According to the water conditions and types of wakeboarding, the demand for depth, length, and width of fins varies. However, considering the large number of beginner rides, several manufacturers are producing larger fins that offer more stability to new riders, as opined in the wakeboard industry outlook.
Regional Outlook
The wakeboard market is dominated by the North American region due to the progression of water sports activities in this region. The participants are well aware that the need for protective types of equipment is a major factor driving the growth of this market.
There is a high prevalence of market players in this region, which is driving growth in the industry. The region is growing in terms of sports academies and water sports clubs, which is propelling demand for wakeboards.
Europe is the second region that is anticipated to hold a major share after North America in the forecast period. The growth in this region is due to rising water sports infrastructure. The high income of people is attracting them to water sports. As per Fact.MR published a wakeboard industry outlook, the rise in the market is due to a propelled preference for eco-friendly equipment in this region.
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Competitive Landscape
The market is dominated by certain brands. These companies are consistent in product innovation and opt for marketing strategies for their products. Apart from product innovation, the market players to maintain a market edge in the industry opt for collaborations and strategic partnerships. The companies are focusing on the safety features of wakeboards for attracting people to water sports, as per the recent wakeboard industry analysis.
Overall, the market continues to be in a phase of moderate growth, owing to fluctuations in consumer interest in the sport. Concerted efforts by water sports and wakeboard associations, combined with the launch of aesthetically pleasing and highly functional wakeboards induce some level of momentum in this market.
Recent Developments:
- Body Glove IP Holdings LP-an American water sports brand - recently established a distribution partnership with Shiner Ltd. - a British company - to leverage Shiner’s European network for distributing the brand’s products, including wakeboard equipment in Europe.
- Radinn-a wakeboard manufacturer based in Sweden- recently launched an electric wakeboard with a swappable battery. The company launched its first electric wakeboard in 2015, which reaches up to 28mph for a full half-hour on a single charge. The company states that the second-gen electric wakeboard is capable of reaching up to 36 mph and is much cheaper than its predecessor.
Jobe-a leading water sports brand headquartered in the Netherlands- recently introduced its new Nitro Wakeboard Bindings that offer better control and support to the rider. The company claims that these are the most accessible and cost-efficient bindings available in the market.
Key Segments of Wakeboard Market Research
-
By Product Type :
- Wakeboarding Protective Gears
- Wakeboards
- Wakeboards Clothing
-
By Length :
- Short
- Longer
-
By Region :
- North America
- Latin America
- Eastern Europe
- Western Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Product Type
- 6.2. Length
- 7. Global Market Analysis and Forecast, By Product Type
- 7.1. Wakeboarding protective gears
- 7.2. Wakeboards
- 7.3. Wakeboarding clothing
- 8. Global Market Analysis and Forecast, By Length
- 8.1. Short
- 8.2. Longer
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. East Asia
- 9.6. South Asia & Pacific
- 9.7. MEA
- 10. North America Sales Analysis and Forecast, by Key Segments and Countries
- 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 16. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 17. Sales Forecast by Product Type and Length for 30 Countries
- 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 19. Company Profile
- 19.1. Body Glove IP Holdings LP
- 19.2. Radinn
- 19.3. Jobe
- 19.4. Shiner Ltd
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List Of Table
Table 1: Global Market US$ Bn Forecast by Region
Table 2: Global Market US$ Bn Forecast by Product Type
Table 3: Global Market US$ Bn Forecast by Length
Table 4: North America Market US$ Bn Forecast by Country
Table 5: North America Market US$ Bn Forecast by Product Type
Table 6: North America Market US$ Bn Forecast by Length
Table 7: Latin America Market US$ Bn Forecast by Country
Table 8: Latin America Market US$ Bn Forecast by Product Type
Table 9: Latin America Market US$ Bn Forecast by Length
Table 10: Western Europe Market US$ Bn Forecast by Country
Table 11: Western Europe Market US$ Bn Forecast by Product Type
Table 12: Western Europe Market US$ Bn Forecast by Length
Table 13: Eastern Europe Market US$ Bn Forecast by Country
Table 14: Eastern Europe Market US$ Bn Forecast by Product Type
Table 15: Eastern Europe Market US$ Bn Forecast by Length
Table 16: East Asia Market US$ Bn Forecast by Country
Table 17: East Asia Market US$ Bn Forecast by Product Type
Table 18: East Asia Market US$ Bn Forecast by Length
Table 19: South Asia & Pacific Market US$ Bn Forecast by Country
Table 20: South Asia & Pacific Market US$ Bn Forecast by Product Type
Table 21: South Asia & Pacific Market US$ Bn Forecast by Length
Table 22: MEA Market US$ Bn Forecast by Country
Table 23: MEA Market US$ Bn Forecast by Product Type
Table 24: MEA Market US$ Bn Forecast by Length
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 16: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 17: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 18: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 19: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 20: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 21: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Length
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the growth rate forecasted for the wakeboard market by 2034?
The market is approximated to grow at a CAGR of 8.5% during the forecast period.
What is the future market outlook for this industry?
The wakeboard market is further evaluated to reach a valuation of US$ 4.34 billion by the end of 2034.
Which region amounts to a major share?
North America is the leading region in the market with growing water sports awareness and a rising presence of market players.
What are the drivers of wakeboard demand?
There is growing awareness about eco-friendly sports equipment and penetration of social media covering sports telecasts incentivizes wakeboard demand.
What is the present size of the wakeboard market?
The global market for wakeboards at present is estimated at US$ 1.85 billion in 2024.
Wakeboard Market