Technavio has announced the top five leading vendors in their recentglobal in-the-water sports equipment market report. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global in-the-water sports equipment market from 2017-2021. (Graphic: Business Wire)
The market includes all equipment and gear used for swimming, water aerobics, and water polo. The in-the-water sports equipment segment occupies the largest share of the global water sports equipment market, owing to the high popularity and adoption of these sports. As such, this segment is expected to grow at the fastest rate among the other segments.
Competitive vendor landscape
The global in-the-water sports equipment market is marked by the presence of established players with a wide range of product offerings. The production capacity of the market is expected to increase as the market competitors are embracing advanced technological methods of producing in-the-water sports equipment. While traditional markets for in-the-water sports have sustainable demand, a relative growth in demand is expected from most of the Asian countries.
“The in-the-water sports equipment manufacturers compete based on many different parameters including price, quality, brand, and variety. Different companies indulge in different strategies to increase their market share. The acquisition of new brands will provide an opportunity to the leading vendors to maintain their dominance in the market during the forecast period,” says Brijesh Kumar Choubey, a lead outdoor gear research analyst from Technavio.
The competitors are classified as market leaders, market challengers, emerging companies, and innovators. Companies with a larger market share and greater brand equity are termed as market leaders. The challengers in the market are the ones who enjoy a sizeable share of the market but are competing with the leaders and working to become leaders themselves.
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Top five in-the-water sports equipment market vendors
Adidas
Adidas focuses on developing innovative products to meet the needs of professionals and everyday athletes and consumers. In FY2015, the company spent USD 154 million on its R&D activities. It was also successful in commercializing its innovations, which benefitted its operations.
Arena
Arena sponsors many swimming events to ensure its visibility and to reach out to a larger audience. Some championships and events organized by the company are the LEN European Short Course Swimming Championships held in Israel in December 2015, Swim the Big Blue event organized by a British team in April 2015. The company also signed a couple of sponsorships deal in 2015 with Brazilian swimmer Bruno Fratus and Thomas-Fraser Holmes, a freestyle swimmer, and in 2014 with the Canadian swimmer Katerine Savard.
Mikasa
Mikasa sponsors top water polo players including Tony Azevedo - a four-time Olympian. Moreover, it sponsors top water polo tournaments, leagues, and associations like Ligue Européenne de Natation, Fédération Internationale de Natation, California Interscholastic Federation Southern Section (CIF-SS), and Olympic Games.
Nike
Nike has a strong global manufacturing base to meet the needs of its customers efficiently. It primarily manufactures sporting equipment outside the US, which enables it to reduce operational costs. The company also has manufacturing agreements with independent factories in India, Brazil, Argentina, and Mexico. The diversified range of manufacturing base decreases the company’s dependence on a single region, reduces risks associated with geographic dependence, and gives the company greater bargaining power over suppliers.
Speedo International
Speedo International has a strong distribution network that helps it to deliver products to its customers all over the world. It distributes swimwear products in more than 170 countries. In North America, the company sells its products in more than 11,000 stores encompassing all distribution channels. Such strong distribution network enables the company to increase its presence in the market.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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