While water sports are well-liked among adventure lovers, water skiing has gained popularity in recent times. Growing attraction toward this sport among millennial population has opened the doors for development of companies engaged in manufacturing water skis and wakeboards. Increase in overall disposable income is key reason encouraging youth to participate in these sports activities. Based on product, the water skis and wakeboard market is bifurcated into wakeboard and water ski. Similarly, it is segmented into professional, intermediate, and beginner, on the basis of end use.
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Innovative Products Attracting Adventure Enthusiasts
Numerous companies involved in the water skis and wakeboard market are investing in research and development activities. These efforts are helping them offer improved products that ensure safety and enhance user experience. Hyperlite, Masterline, Liquid Force, HO Sports, and Radar are some of the companies offering top-notch and innovative products and strengthening their user base.
Majorly, water skiing is considered as a recreational sport activity. In recent times, it is also seen as a good workout option. Hence, there is growing trend of participating in this sport among majority of health freaks to maintain their health. Moreover, increased popularity of this sport has encouraged many organizers to conduct competitions, thereby given it professional value. For instance, in 2019, IWWF had sanctioned approval to Saudi Arabia for conducting world wakeboard championship. This move by the sport governing body opened the way for new growth opportunities for water skis and wakeboard market in the region.
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On the regional front, Europe and North America are projected to show dominance in the water skis and wakeboard market, as they are traditional zone for water sports. Moreover, presence of vendors introducing innovative products is one of the important reasons that will support the growth in this region. Other regions with promising growth avenues include Asia Pacific, the Middle East and Africa, and Latin America.