Market Snapshot
Newly-released water bikes industry analysis shows that global demand enjoyed year-on-year (YoY) volume growth of 18.7% in 2021, to total more than 3,500 units. Pontoon water bikes displayed positive year-on-year growth of 18.6%, while hydrofoil water bikes were up 21.1% in 2021.
Over the next ten years, the global water bikes market is projected to expand 9X, as per analysis by Faxct.MR.
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Key Insights Offered in Water Bikes Industry Survey:
Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
COVID-19 Impact on Demand for Water Bikes and How to Navigate
Recommendation on Key Winning Strategies
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Revenue Analysis of Water Bikes from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031
As per the research by Fact.MR, a market research and competitive intelligence provider, historically, from 2016 to 2020, market value of water bikes increased at around 11.5% CAGR, with the U.S., Canada, Spain, Italy, and China holding high shares in the global market.
With all considerations such as high price of water bikes, use of water bikes for racing, and upsurge in sales of electric water bikes, it has been revealed that water bikes market growth to 2031 is forecast to expand at a high CAGR of close to 24%.
The global market expected to experience prominent growth in 2021 with worldwide revenue up 19.6% year-over-year. Fact.MR estimates that global revenue from water bikes will grow 9X reaching US$ 181.1 Mn by 2031, at a ten-year compound annual growth rate (CAGR) of 24%.
As per Fact.MR’s market insights, global market revenue totaled US$ 16.8 Mn in 2020.
Demand for conventional water bikes is set accelerate at a moderate pace.
Demand for hydrofoil water bikes is projected accelerate at a high pace.
Top 2 manufacturers of water bikes held 79% market share in 2020.
While demand was impacted by COVID-19, over the decade, long-term forecasts look good, especially for electric water bikes.
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Which Factors are Propelling Demand for Water Bikes?
Increasing urbanization and change in pace of living, with an increasingly hectic lifestyle becoming normal, has inclined consumers towards some form of activity, which has boded well for the demand for water bikes.
Water biking is one of the water sports activities that helps burn a significant number of calories due to the pedalling involved. Besides, it also helps relaxes the mind. Use of water bikes for racing is also pushing the market upwards.
The market is not yet solidly established around the world and ongoing product design and development is expected to aid expansion going further. Water bicycle market trends are customers opting for rental water bikes instead of buying new one and buying electric water bikes.
Manufacturers are increasingly taking efforts to develop electric water bikes ideal for multiple industries.
For instance, Manta5, a leading brand in water bikes, has been emphasizing on design and development of fully electric models of water bikes.
Key Segments Covered in Water Bikes Industry Research
By Technology
Pontoon
Hydrofoil
Surfboard
By Product Type
Manual Water Bikes
Electric Water Bikes
By Ownership
Personal Water Bikes
Rental Water Bikes
For More Insights-
https://www.einpresswire.com/article/556337411/infrastructure-safety-to-ramp-up-demand-for-ultrasonic-pulse-velocity-testing-fact-mr
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