Stand-up Paddleboard Market to Grow by Almost $ 59 Million During 2020-2024 | Forecasting Strategies for New Normal | Technavio

·6 min read

Technavio has been monitoring the stand-up paddleboard market and it is poised to grow by USD 58.99 million during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Stand-up Paddleboard Market 2020-2024 (Graphic: Business Wire)

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the stand-up paddleboard market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by product, which is the leading segment in the market?
    The inflatables segment led the market in 2019.

  • What are the major trends in the market?
    The growing use of SUP for yoga and other leisure activities is the major trend in the market.

  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of almost 4% during 2020-2024.

  • Who are the top players in the market?
    Airhead Sports Group, BIC Sport, Boardworks Surf & Sup., Cascadia Board Co., LAIRDSTANDUP, Red Paddle Co., Starboard, SUP ATX LLC, Tower, and Wenonah Canoe are the top players in the market.

  • What are the key market drivers and challenges?
    The market is driven by innovations in SUPs. However, high costs coupled with increasing preference for rental SUPs might challenge growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Airhead Sports Group, BIC Sport, Boardworks Surf & Sup., Cascadia Board Co., LAIRDSTANDUP, Red Paddle Co., Starboard, SUP ATX LLC, Tower, and Wenonah Canoe are some of the major market participants. Although the innovations in SUPs will offer immense growth opportunities, high costs coupled with increasing preference for rental SUPs are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this stand-up paddleboard market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Stand-up Paddleboard Market 2020-2024: Segmentation

Stand-up Paddleboard Market is segmented as below:

  • Product

    • Inflatables

    • Hardboards

  • Geography

    • North America

    • Europe

    • APAC

    • South America

    • MEA

  • Distribution channel

    • Sports Goods Retailers

    • Department Stores

    • Online Retailers

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Stand-up Paddleboard Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The stand-up paddleboard market report covers the following areas:

  • Stand-up Paddleboard Market Size

  • Stand-up Paddleboard Market Trends

  • Stand-up Paddleboard Market Industry Analysis

This study identifies the growing use of SUP for yoga and other leisure activities as one of the prime reasons driving the Stand-up Paddleboard Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Stand-up Paddleboard Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist stand-up paddleboard market growth during the next five years

  • Estimation of the stand-up paddleboard market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the stand-up paddleboard market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of stand-up paddleboard market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019-2024

Five Forces Analysis

  • Five Forces Summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product

  • Inflatables - Market size and forecast 2019-2024

  • Hardboards - Market size and forecast 2019-2024

  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments

  • Comparison by Distribution channel

  • Sports goods retailers - Market size and forecast 2019-2024

  • Department stores - Market size and forecast 2019-2024

  • Online retailers - Market size and forecast 2019-2024

  • Market opportunity by Distribution channel

Customer landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Airhead Sports Group

  • BIC Sport

  • Boardworks Surf & Sup.

  • Cascadia Board Co.

  • LAIRDSTANDUP

  • Red Paddle Co.

  • Starboard

  • SUP ATX LLC

  • Tower

  • Wenonah Canoe

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201203006027/en/

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