Rowing Oars Market
Rowing Oars Market (Material: Carbon, Wooden, Fiberglass, Aluminum, and Plastic; Oar Length: 8-10 Ft and 10.5-11 Ft; Shaft: Construction and Stiffness; and Blade: Shape and Size) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Growing Popularity of Water Sports Influences Demand for Rowing Oars
The trend of rowing as one of the leisurely activities of traveling by boat, or the recreational use of a boat whether powerboats, sailboats, or man-powered vessels, such as rowing and paddle boats has increased the consumer focus toward rowing oars. Manufacturers have shifted their focus on the innovations in oars for rowing, as well as sports activities, such as fishing or water-skiing. Moreover, with the growing popularity of water sports such as rowing, kayaking, canoeing, oars have their very own features and are mostly selected through a long time experience. Oars used in competitive rowing can be long (8-10 Ft to 10.5-11 Ft) poles. Most efficient oars are designed with a stronger grip. While oars are used to propel the boat in rowing, they can differ with the type and size of boats.
The present rowing oars market holds hundreds of different variations of oars in terms of material and manufacturer specifications. Carbon fiber blades are most common in modern-day rowing. Classic oars were made out of wood. Since the use of such artificial materials in 1975, the weight of an oar has come down vastly in the case of sculls. While rowing is the most popular in competing boats, fine boats (racing shells) and oars are an early part of the production supported by metal, fiberglass, aluminum, or carbon fiber frames attached to the side of the boat called riggers for extra leverage. Furthermore, in the blade segment, the cleaver blade holds the most shares as compared to others. Cleaver blades are asymmetrical, and slightly rectangular that looks like a meat cleaver. The growing availability and choices of products are increasing the demand for the global rowing oars market.
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Restricted Outdoor Activities Hamper Growth Rate of Rowing Oars Market
The global outbreak of COVID-19 has resulted in the closure of almost all the industries, tourist places, and leisure activities. Many people were, therefore, unable to actively engage in their regular individual or group sporting or physical activities outside of their homes. With strict regulations in place worldwide, people were asked to remain at home resulting in less physical activities, longer screen time due to work from home, erratic sleep patterns as well as inadequate diets, resulting in weight gain and loss of physical fitness. Thus, the impact on sporting and outdoor activities has hindered the global rowing oars market, and is anticipated to have a longer effect as people will have to mentally be prepared to go back to routine and more for outdoor activities. Furthermore, restrictions on global trade and manufacturing activities have limited manufacturers to work with available raw materials, and many production houses witnessed a closure.
As the spread is being contained in major regions and vaccination drives have increased their pace, markets in these countries are restoring to normal. However, many regions might need more time to vaccinate their citizens. Thus, there are still restrictions against outdoor sporting and water sporting activities, halting the demand for the global rowing oars market. Many businesses are investing in research and development to analyze the post-pandemic market scenarios and design strategic plans accordingly. With markets opening in the developed regions such as the U.S., manufacturers are increasing their production to flatten the demand curve and to fulfil the upcoming demand from people wanting to engage in rowing activities. The post-pandemic period will witness a surge in the demand for rowing oars, as sporting and leisure activities will restore and athletes may want to fill the gap in the practice.
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Increasing International Rowing Events Attract New Consumers to Rowing Oars Market
The market has witnessed variations in consumer buying behavior with increasing innovations in the design of oar. Most people prefer oars that are light but strong blades that are easy to lift out of water during the return stroke. However, most of the rowing oars have a long thin body with a thick paddle-like frame at the end. Besides, large, thicker sweep oars are used for coxless and coxed rowing events. The increasing participation of people from developing countries in rowing sports is assisting in the expansion of the market. In Europe and Asia Pacific, the participation in rowing events is growing at a notable rate as nations from these regions lead in the overall World Rowing Cup standings. Producers of rowing oars across the globe have commenced advertising the products, which will ultimately lead to an increase in the sales of rowing oars.
The growing popularity of the Olympics is considered an essential factor in the growth of the rowing oars market. In 2016, around 550 athletes from 77 nations have participated in the rowing competition events. Moreover, around 150 nations have rowing federations across six continents and growing in popularity in other regions as well. Various government initiatives to promote the rowing sport and sponsors have started expanding more water sports centers and clubs across the globe, particularly in nations with a large population. On the contrary, the lack of awareness about rowing sport in the low economic regions due to the improper distribution channel and lack of communication is expected to hinder the market growth during the forecast period. Moreover, rowing clubs across the globe are organizing various competitions where the demand for oars are considerably high. Thus, rising participation in such events is projected to propel the global rowing oars market in the upcoming future.
China to Become Major Trading Partners with U.S., ASEAN, European Nations
The global rowing oars market was dominated by the Asia Pacific in the regional segment of 2020. Increasing acquisitions and agreements between rowing clubs and rowing oars producers and rising number of small and medium scale industries in populated nations such as India and China are likely to drive the rowing oars market in Asia Pacific. Furthermore, an increase in the number of participants from Europe at rowing clubs in international tournaments estimates the market in the region to grow at a significant CAGR during the forecast period. The global rowing oars market is projected to surpass US$ 2.4 Bn by 2031, at a CAGR of ~4% during the forecast period.
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The rowing oars market is currently growing at a high rate in the North America. Europe and Asia Pacific are also expected to hold major shares of the rowing oars market, owing to increasing participation in rowing competitions. Key players are investing in R&D activities and focusing on innovations to attract consumers in growing competitions. The rising number of people at rowing clubs and awareness about water sporting events is boosting the global rowing oars market.
Rowing Oars Market: Overview
- The global rowing oars market is anticipated to expand at a CAGR of ~4% during the forecast period, owing to increase in awareness about leading a healthy lifestyle and rise in interest in rowing as a sport. Rise in participation in soft adventure sport activities and increase in the number of water sports enthusiasts are anticipated to boost the rowing oars market across the globe.
- Globalization is a key factor that drives the rowing oars market. Rising awareness about sports activities across the globe, including Olympic Games, International games, and national games, is likely to fuel the demand for rowing oars significantly across the globe.
Rowing Oars Market: Drivers
- Increase in the number of people joining rowing clubs is expected to boost the demand for rowing oars across the globe. Rise in demand for sweep oars and scull oars from rowing clubs is also likely to propel rowing oars market across the globe.
- Rowing clubs across the globe, including Sydney Club, Rowing Global, and Rowing Queensland organize various tournaments where the demand for oars is considerably high. Increase in the number of participants at rowing sports is further boosting the market.
Rowing Oars Market: Challenges
- Rapid spread of the pandemic across the globe led to the cancellation of scheduled tournaments. The COVID-19 pandemic has caused a majority of businesses across the globe to crumble, owing to the forced shutdown of production and manufacturing activities.
- Improper distribution channel across the globe due to limited number of players is likely to restrain the rowing oars market. Major sports activities, including rowing sports being cancelled due to the widespread of pandemic across the globe has hampered the demand for rowing oars across the globe
Rowing Oars Market: Segmentation
- The global rowing oars market has been segmented based on material, oar length, shaft, blade, and region
- Based on material, the carbon segment dominated the global rowing oars market. Carbon rowing oars possess high strength and high resistance to corrosion, which is likely to increase the demand for carbon oars across the globe. Followed by carbon, the fiberglass segment also held a major share of the global market, in terms of revenue, in 2020.
- Based on oar length, shorter length of oars makes the boat go faster and hence, the 8-10 Ft segment held a significant share of the global rowing oars market, in terms of revenue, in 2020. Rise in the number of sports events across the globe is likely to fuel the demand for rowing oars across the globe.
Rowing Oars Market: Regional Analysis
- Based on region, the global rowing oars market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Europe and Asia Pacific are projected to be highly lucrative markets during the forecast period. Rapid expansion of manufacturing industries across Asia Pacific is anticipated to propel the rowing oars market across the region. Europe has major a presence of well-established manufacturers and suppliers who have advanced research and development facilities regarding rowing oars material, which is likely to boost the rowing oars market across Europe.
Rowing Oars Market: Competition Landscape
- Key players operating in the global rowing oars market include
- Croker Oars Pty Ltd
- Concept2 Inc.
- Sykes Cleaver
- Race1 Australia Pty Ltd.
- WINTECH Racing
- Whitehall Rowing & Sail
- Denman Marine
- Kiwi International Rowing Skiffs Ltd.
- Stancraft Boats
- Sierra Boat Company
- Liteboat SARL
- Stancraft Boats
- ECHO ROWING
- Shaw & Tenney Inc.
- Rowing Center UK Ltd
- BBG Bootsmanufaktur GmbH
- Key players operating at the global level are expanding their footprint by engaging in mergers and acquisitions with several players in the industry. Rise in the number of international sports activities across the globe is likely to propel the rowing oars market. Based on the size of the blade of the oar, fat blades are more efficient to increase the speed of the boat; however, the boats still need to be rigged properly and there may be time needed for the crew to adjust to the loading profile of the fat blade.
Rowing Oars Market – Scope of Report
Transparency Market Research’s recent report on the rowing oars market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the rowing oars market analyzes the scenario for the period of 2017 to 2031, wherein, 2020 is the base year and 2019 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study.
This TMR study on the rowing oars market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the rowing oars market gives readers an individual understanding of the market.
Key Questions Answered in This Report on Rowing Oars Market
- How much value will the rowing oars market generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2031?
- What are the impact factors and their effects on the market for rowing oars market?
- What regions currently contribute the maximum share to the overall rowing oars market?
- What are the indicators expected to drive the rowing oars market?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the rowing oars market to expand their geographic presence?
- What are the major advancements witnessed in the rowing oars market?
- How regulatory norms affected the market for rowing oars market?
This report answers these questions and more about the rowing oars market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Rowing Oars Market – Research Methodology
This TMR report on the rowing oars market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the rowing oars market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by key players, researchers of the rowing oars market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the rowing oars market, with both a bottom-up and top-down approach.
This detailed assessment of the rowing oars market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the rowing oars market is estimated to expand are based on carefully vetted primary and secondary sources.
Rowing Oars Market – Segmentation
This report on the rowing oars market provides information on the basis of material, oar length, shaft, blade, and region.
This study also discusses the underlying trends and impact of various factors that are driving the rowing oars market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the rowing oars market in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.