A recent study published by Fact.MR on the global Stand Up Paddle Board market offers an in-depth understanding of the overall prospects of the market. The study also broadly covers the impact of the novel COVID-19 pandemic on the Stand Up Paddle Board market and offers insights related to how market participants should align their business operations to mitigate losses and retain their foothold in the current market landscape. Further, the summary of the key findings of the research along with the megatrends influencing the growth of the Stand Up Paddle Board market is highlighted in the presented study. The market introduction and definition is included to help our readers understand the basic concepts of the study on the Stand Up Paddle Board market.
As per the report, the Stand Up Paddle Board market is set to grow at a CAGR of ~XX% over the forecast period (20XX-20XX) and reach a value of ~US$XX towards the end of 2029. The regional trade analysis along with the leading importers and exporters is included in the study. In addition, the supply-demand analysis and the key developments in the Stand Up Paddle Board market are highlighted in the report. Although the Stand Up Paddle Board market is slated to grow at a consistent pace during the forecast period, the COVID-19 pandemic is expected to dent the growth of the market particularly in 2020.
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Important Findings of the Report
- Analysis of the factors that are expected to hinder the growth of the market
- Competition analysis within the Stand Up Paddle Board market
- Notable observable trends across various regional markets amidst the COVID-19 pandemic
- Pricing strategies and market structure of the Stand Up Paddle Board market in different geographies
- Regulatory and government policies impacting the Stand Up Paddle Board market
Segmentation of the Stand Up Paddle Board Market
This chapter of the report highlights the current market size (US$) and includes the volume analysis and forecast for various geographical regions.
The application analysis in the report offers a clear understanding of how the Stand Up Paddle Board is used in different applications.
This chapter of the report throws light on the supply-demand pattern for the different products within the Stand Up Paddle Board market.
Tradeshow Endorsements by Sports Associations to Augur Well for SUP Board Sales
According to analysis of the report on the brands operating in the stand up paddle board market, the ongoing trend of high accessibility of boards to entry-level participants, and increased focus on gear will continue to augment the market’s growth. Increased momentum of high-performance stand up paddle boards with the option of flex, which are becoming a vital part of the equipment, is a key implication of enthusiasts’ focus toward gear.
Leading sports associations are taking efforts toward enhancing the popularity of SUP boarding, by endorsing trade shows. For example, the SUP Industry Association (SUPIA) in the U.S. endorses two annual shows of Surf Expo in Orlando and the Summer Market of Outdoor Retailer in Salt Lake City. Additionally, in Europe, Germany’s Paddle Expo has been gaining immense momentum since the recent past, and is currently on the cusp of becoming the leading SUP Tradeshow in the region. Such endorsements will result in increased participation in the sport, thereby boding well for stand up paddle board sales.
The stand up paddle boarding industry is no more at its infancy stage, as it perceives robust growth benefitting from past watersports industries’ insights regarding imperativeness of foresight. A lengthy & bright future is associated with the SUP industry, with experience players sharing a common agenda of ensuring every new participant leaves with positive experience. This will significantly influence participation in the sport, and fuel sales of stand up paddle board in the near future.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
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Important questions pertaining to the Stand Up Paddle Board market catered to in the report:
- What is the projected revenue generated by the Stand Up Paddle Board market in 2018?
- What are the future prospects of the Stand Up Paddle Board market post the COVID-19 pandemic?
- What is the scope for innovation in the Stand Up Paddle Board market?
- How have government policies impacted the growth of the Stand Up Paddle Board market?
- Which region has the highest concentration of tier 1 companies?
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