Kayak Market: Overview
Surge in participation in water recreation sports in developing economies owing to rising disposable income is likely to create immense opportunities for the kayak market over the 2020 – 2030 forecast period. Kayaking is emerging as a popular recreational sport in developing economies as individuals and families with disposable incomes are now engaging in thrilling and adventurous sport activities. Increasing practices of vacations, outing that are close to nature for peace and tranquility is indirectly influencing the kayak market.
Key aspects based on which the kayak market is studied are product type, sales channel, buyer type, and region.
The report on the kayak market is an all-important tool for valuable insights on growth trends, opportunities, and regional landscape of the said market for the 2020- 2030 forecast period. Furthermore, the report provides in-depth analysis of competition in the kayak market, which includes past as well as current revenue share of key players. The report also provides detailed insights into winning strategies of prominent players, and how growth strategies will evolve for further advantage of these players over the forecast period.
Kayak Market: Competitive Landscape
The kayak market marks a largely consolidated vendor landscape, rendering intense competition among key players. Established players in the kayak market are competing for brand, quality, and cost. New market entrants, on the other hand, are focused on product innovation to establish foothold in this competitive market.
Prominent players in the kayak market include Advanced Elements, Klepper Faltbootwerft, TRAK Kayaks, Aqua Xtreme, and BIC Sport.
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Kayak Market: Key Trends
Efforts of forest conservation bodies and government departments to develop natural water bodies such as lakes and streams for water recreation sports is positively influencing the kayak market. The use of natural water bodies for water recreation sports attracts large number of individuals of all age groups to indulge in these activities. Kayaking and rafting are two popular water recreation sports that are popular among individuals seeking adventure and thrill.
Besides thrill and adventure, kayaking helps to improve balance and coordination, and has the provision of strength build-up and endurance training. Such benefits are luring individuals for kayaking, for which they even travel long distances to experience the sport. Further, experience of being close to nature for pure air and tranquility are some other benefits of kayaking. The collective benefits of kayaking is positively influencing the kayak market.
Emergence of specialty stores for water recreational activities is adding another dimension to the growth of kayak market. The growing popularity of online retail and vast selection of kayaking equipment on sporting shopping portals is amplifying the expanse of kayak market.
Kayak Market: Regional Assessment
North America is the leading region in the kayak market. Tremendous popularity in water recreation sports due to an appetite for thrill and adventure is positively influencing the kayak market. Governments in the region are promoting adventure tourism, which is another key factor fuelling the kayak market. Further, state level and national level kayaking championships organized by government bodies and sporting leagues is further bolstering the kayak market in the region.
Europe is another key region in the kayak market. Presence of large number of natural water bodies and inclination of individuals for adventure sports is a primary factor fuelling the kayak market in the region. Substantial disposable income of individuals to spend on recreational activities is another factor fuelling the kayak market in the region.
Asia Pacific is anticipated to register robust growth in the kayak market in the forthcoming years. Economic growth in developing countries of the region resulting in increasing spending on expensive outings is boosting the kayak market in the region.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.