The global board sports market is experiencing a significant growth, and is anticipated togrow considerably in the next few years. Board sportsare played with a board as the primary equipment. It includes skateboarding, snowboarding, sandboarding, surfing, and wakeboarding, used over various surfaces such as terrain, snow-curved hills, and deserts. Rapid urbanization and rise in disposable income among population is intriguing them to increase expenditure in personal sports or participative sports, games, and events. A gradual rise in practicing of these sport activities and emergence of board sports as a popular recreational activity fuels the demand for board sports equipment in the global market.
Request For Sample :- https://www.alliedmarketresearch.com/request-sample/9753
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($U.S.)|
|Segments covered||Type, Application, Distribution Channel, and Industry Vertical|
|Regions covered||North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||Adidas AG, Aloha Boardsports, Globe International, Meta-Sports, The Burton, Nike Skateboarding, Quiksilver, SKF Bearings, Rip Curl, ONeill, Volcom, Body Glove International, Billabong International, Salomon Snowboarding, Gul Surf.|
COVID-19 Scenario Analysis:
Production shutdown scenario
Production for board sports equipment has been shut down amid the COVID-19 implications. This had led to a decline in production of fresh stock in the industry.
Decline in demand
The market has recently witnessed a striking decline in demand for board sports equipment. This is anticipated to the COVID-19 implications that has prohibited external visits and outdoor recreation activities, such as board sports for some time.
Get detailed COVID-19 impact analysis on the Board Sports Market
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Surge in sports activities and tournaments worldwide drives demand for the global board sports market. The market has diversified its product range from snowboards to surfing boards. This product variety has led to market expansion. Board sports are considered as one of the most thrilling sports and recreational activities and have recently gained popularity from rarely played sports to regularly conducted sports events. The market has witnessed innovations in snow sports apparel, which has increased the demand for diversification in the board sports market. Rise in disposable income and growth inconsumer inclination toward outdoor recreational sport activities fuels growth of global board sports market.
The global board sports market trends are as follows:
New product launches to flourish the market
Launch of new products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy, application,and overall functionality of sports boards. Manufacturing of diverse board sport equipment isgrowing,owing to rise intrend of recreational board activities. Apart from this, consumers find board sports as a thrilling and exciting activity to invest their leisure time.
New and improvised productsboost conventional boards in the board sports market as a result of which the market is expected to grow. Availability of boards for different sports from snowboarding to sandboarding and surfing appeals customers to enhance pace of participation in events requiring the need and application of such equipment. Hence, the market is expected to grow during the forecast period.
Distribution channels to trigger pace of sales
Distribution channel plays a significant role in supply of products. It is one of the key factors responsible in the market reach and expansion. Leading market players make sure that diverse distribution channels are established so consumers can avail products at their convenience.
For the purpose of disbursement of products, various offline as well as online channels of sales are preferred. This comprises supermarkets & hypermarkets, specialty stores dealing with sports equipment, and e-commerce platforms. Specialty stores hold a major share in revenue by involving mediators or company dealers who directly contact customers and generate sales. Online channels offer immense variety at one click and facilitates home delivery of desired products. Distribution channels are pioneered to reach into regions where product awareness and demand is stagnant to boost trading for the industry.
- This study presents analytical depiction of the global board sports industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global board sports market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global board sports market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global board sports market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Board Sports Market Research Report:
- Who are the leading market players active in the board sports market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the board sports market?
- What are the projections for the future that would help in taking further strategic steps?