North America is the largest market for towable tubes with the growing inclination of tourists and residents towards water sports
Dublin, Ireland, Aug. 29, 2022 (GLOBE NEWSWIRE) — According to Fact.MR’s latest report on towable tubes, the global market is valued at US$ 434.8 million and is predicted to expand at a CAGR of 4.7% from 2022 to 2032.
Companies are launching products with various updated features that make water sports more exciting and also safe for people. Tubes are equipped with seat belts, deep seats, ankle protection, head & neck support, and more. All these features make towable tubes an attractive and safe product. Companies are also benefitted from the growing adventure tourism sector, especially water sports.
Water sports is one of the most popular and fun family recreational activities. Various types of tubes are available to suit the comfort and style of users. As they are economical, demand for water tubing is rising across the world. Governments are also making due efforts to ensure the safety of tourists/ visitors around water bodies. Various norms made by governments to ensure safety are encouraging more people to move towards water activities/sports.
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Key Takeaways from Market Study
By product type, partially covered towable tubes holds a market share of 65.3%.
By capacity, 2 rider segment is projected to expand at a CAGR of 5.5% during 2022-2032.
Among the sales channels, online sales accounts for 33.8% market share in 2022 and is predicted to progress at a higher CAGR of 5.1% through 2032.
North America holds 32.2% share of the global towable tubes market.
The strategy for participants in the towable tubes market has been to focus on emerging markets where water sports is growing, and also focus on reaching water sports enthusiasts through digitization (selling online).
To deliver innovative towable tubes that are safe, sustainable, and economical & suited to the unique needs of end users, manufacturers need to improve their manufacturing capacity. Additionally, manufacturers of towable tubes should continue to prioritize working with end users so that they can develop customized products in terms of safety, economical price, and new additional features.
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Airhead, Connelly Water Sports, Dreamer Inflatables, Gladiator, Havasu Water Sports, HO Sports, Intex Recreational Corp, iOcean Sports, Jobe Sports, MESLE Water Sports, O’Brien Watersports, Scheels Sports, and Sportsstuff, Inc. are leading manufacturers in the towable tubes market.
Major manufacturers of towable tubes are employing innovative solutions and key strategies such as customization and printing as their core competence. In addition, they are also conducting or sponsoring water sports events to spread awareness regarding their brands and product offerings. Online platforms are also playing a crucial role in the revenue generation of manufacturers of towable tubes.
Fact.MR has given in-depth information about the various strategies used by players in the towable tubes market, along with a sales analysis of towable tubes and top towable tube manufacturers, including SWOT analysis and sales generated by top towable tube manufacturers positioned across geographies.
Segmentation of Towable Tubes Industry Research
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the towable tubes market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on product type (open top tubes, deck tubes, ride-in & cockpit style tubes, dual tow point tubes, banana style tubes, rocker tubes, other product types), capacity (1 rider, 2 riders, 3 riders, 4+ riders), build type (partially covered towable tubes, fully covered towable tubes), and sales channel (offline (modern trade, sports outlets (franchised, independent), others), online (e-Commerce websites, company/brand websites)), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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