Solo Kayaks Market Size, Share, Growth, And Industry Analysis By Type (Inflatable Kayaks, Folding Kayaks) By Application (Racing, Leisure) Regional Forecast To 2031

Updated On: 22 April 2024

SOLO KAYAKS MARKET REPORT OVERVIEW 

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The global solo kayaks market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Surf kayaking is the activity, method, and gear used to paddle a kayak across ocean waves. Surf kayaking is quite similar to surf board surfing, except it uses paddles and boats made specifically for surf zones.

As more and more people and families with disposable income are now participating in thrilling and adventurous sporting activities, kayaking is becoming a well-liked recreational sport in developing countries. The kayak industry is being directly impacted by rising practises of holidays and outings that are in close proximity to nature for peace and calm.

COVID-19 Impact: COVID-19 Outbreak Leads To Disruptions in the Market Growth

2020 saw a drop in market growth in North America as a result of the COVID-19 epidemic. The COVID-19 outbreak prompted lockdowns and the confinement of residents to their homes by governments around the region in an effort to stop the pandemic from spreading. Whilst some of the nations in this region want to start hosting athletic events while adhering to COVID-19 safety standards and keeping athletes in bio bubbles, this may only serve to boost the market.

Latest Trends

"Artificial Water Sports Experiences Expand The Worldwide Market "

Among fans of water sports, artificial bodies of water for kayaking are becoming more and more popular. The biggest man-made river in the world, ideal for kayakers, is located at the US National Whitewater Center near Charlotte, North Carolina. One of the largest man-made lakes in northern Europe is the Kielder Water, which has gained enormous popularity among visitors for kayaking. Another well-known illustration is the integration of artificial wave technology into surf parks. There are already at least 10 to 15 such water surf parks, and in the upcoming years, they want to open in Russia, Spain, and Hawaii. These artificial, man-made attractions not only provide customers a practical and simpler choice, but they also enable a variety of tourism-related companies, such eateries and accommodation alternatives, to prosper. Thus, it is anticipated that throughout the forecast period, the rising popularity of synthetic water sports experiences would favourably impact the growth of the worldwide portable kayaks market.

SOLO KAYAKS MARKET SEGMENTATION 

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• By Type Analysis

According to type, the market can be segmented into Inflatable Kayaks, Folding Kayaks. Inflatable Kayaks is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Racing, Leisure. Racing will be the dominating segment.

Driving Factors

"Rise In Popularity Of Recreational Kayaking Propelling The Expansion Of The Global Market "

In order to draw both local and foreign tourists, the majority of travel firms worldwide include kayak surfing as one of the popular adventure sports in their trip packages. Kayaking is popular because it enables participants to socialise with friends and family while exercising outdoors. Due to the millennial generation's fast population increase, increasing disposable incomes, and the rising appeal of adventure tourism, kayaking in seas, rivers, and conserved interior lakes is becoming increasingly popular in most tourist areas worldwide. Hence, throughout the projected period, the worldwide portable kayak market would increase due to the increasing popularity of kayaking in adventure tourism. Portable kayaks are available from a variety of reputable providers. For instance, some of the well-known suppliers of portable kayaks for touring, enjoyment, and racing are Advanced Elements Inc. (Advanced Elements), BIC Sport, and Oru Kayak. Throughout the projection period, the market for portable kayaks will develop due to the expanded selection of portable kayaks available for racing and leisure activities.

"Market For Leisure Boats Will Be Driven By The Rising Popularity Of Connected Boats And Rising Spending On Leisure Activities"

Owners of recreational boats are concerned about security and safety. Boats that are moored and unattended run the risk of getting unmoored and drifting away, especially during the winter. Boat builders are utilising Internet of Things (IoT) technology to address these issues and decrease the number of boats that suffer internal damage and sink. In order to deliver superior goods and preserve their competitiveness in light of the market's ferocity, the market's incumbents in the leisure boat sector are actively implementing new technology.

Restraining Factors

"Main Obstacle To The Expansion Of The Worldwide Portable Kayaks Market Is The High Cost Of Kayaks, Which Increases Demand For Rentals"

As kayaks are rather expensive, the potential market growth is sometimes constrained, particularly among those who paddle on a casual basis. Quality kayaks may go upwards of $1,500 on average. As kayaks are so expensive, most end users, particularly those in developing nations like Cambodia and Indonesia, are hesitant to purchase them, which presents a big obstacle to well-known international distributors. This has an impact on the portable kayak market's revenue globally. Also, renting kayaks rather than purchasing them is a common practise among casual stand-up kayakers, which hinders expansion. Despite the fact that kayaking is one of theAlthough many people enjoy kayaking as a leisure activity, the expense of buying a kayak for personal use may discourage other people from doing so. Kayak prices vary according on the kind of material, size, and quality. The buying choice is influenced by the kayaks' build quality and durability. As renting kayaks is more common than buying them for recreational purposes due to the expensive cost, this raises the need for portable rental kayaks.

SOLO KAYAKS MARKET REGIONAL INSIGHTS 

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"North America Will Be The Dominated Region During Forecast Period"

The kayak market is dominated by North America. The market for kayaks is being favourably impacted by the enormous popularity of water leisure sports due to a desire for excitement and adventure. Tourism promotion by local governments is another important driver for the kayak business. The kayak business in the area is also being supported by further state- and national-level kayak competitions that are being held by governmental organisations and athletic associations.

Another important area for the kayak industry is Europe. A major driver of the kayak industry in the area is the availability of several natural water bodies and people's propensity for adventurous activities. Another element driving the kayak business in the area is a large amount of disposable cash to spend on leisure activities.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Nautiraid (France)
• Aquadesign (Canada)
• Grabner GmbH (Austria)
• Neris (U.K.)
• Ace Canoes
• Whaly Boats (Netherlands)
• BOREALDESIGN (Canada)
• Pelican Sport (U.S.)
• RTM kayaks (France)
• Pyranha Moldings Ltd (U.K.)
• Osagian Canoes (U.S.)
• RK Company (India)
• GUMOTEX (U.S.)
• Hody Sport (Hungary)
• TRAK Kayaks (Philippines)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.