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Global Stand-up Paddleboard Market 2019-2023 | Innovations in SUPs to Boost Growth | Technavio

March 14, 2019
The global stand-up paddleboard market is expected to post a CAGR of close to 7% during the period 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Mar 14, 2019--The global stand-up paddleboard market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.

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The global stand-up paddleboard market is expected to post a CAGR of close to 7% during the period 2019-2023. (Graphic: Business Wire)

Stand-up paddleboards (SUPs) help in creating an ambient and relaxing environment while practicing yoga and doing exercises as it requires no steep learning curve or extensive training. Many training facilities and instructors across the US and European countries have started offering SUP yoga classes. SUPs can also serve as multi-purpose alternatives for fishing boats, kayaks, and canoes. The growing adoption of SUPs for such activities is, therefore expected to see an uptick in demand during the forecast period.

As per Technavio, the innovations in SUPs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global stand-up paddleboard market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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Global stand-up paddleboard market: Innovations in SUPs

Major industry players are shifting steadily from standardized all-use inflatable SUPs to premium purpose-oriented SUPs such as lightweight and high-performance variants for racing, and broad and stable ones for fishing or exercising. Manufacturers have begun focusing on adopting innovative technologies and using novel materials in their new SUP product ranges. Some latest innovations being incorporated into SUP design include attachment fixtures for action cameras, GPS units, and other gear. Such changes are geared towards making SUPs more user-friendly, durable, and give them greater utility, which in turn is expected to boost the growth of the global stand-up paddleboard market.

“Apart from innovations in SUP, the growing adoption of SUPs for adventure tourism, its popularity in emerging countries and the partnerships and M&A’s in the SUP industry are some of the major aspects which will boost the expansion of the global market,” says a senior analyst at Technavio.

Global stand-up paddleboard market: Segmentation analysis

This market research report segments the global stand-up paddleboard market by product (inflatables and hard boards), by distribution channel (sports goods and retailers, department stores, online retailers) and geographical regions (North America, Europe, APAC, South America, MEA).

The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA. However, during the forecast period, the APAC region is expected to register the highest incremental growth.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190314005473/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: SURFING/SAILBOARDING SPORTS

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 03/14/2019 10:06 AM/DISC: 03/14/2019 10:06 AM

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