Fact.MR’s latest report offers insights into prevailing trends and opportunities in the water bikes market. It studies the behavioral change in consumers and the consequent impact on the global sales. To present a holistic overview, the report has been interspersed with the latest and most relevant statistics. It also offers detailed analysis of the market in terms of various segments, including technology, product type, and ownership
NEW YORK, Oct. 7, 2021 /PRNewswire/ — According to the latest Fact.MR analysis, the global water bikes experienced a year-on-year (YoY) growth of 18.7% in 2021. With growing demand for water bikes around the world, the overall market is set to expand at an impressive CAGR of 24% between 2021 and 2031, surpassing a valuation of around US$ 181.1 Mn by the end of 2031.
Rapid growth in maritime tourism along with increasing demand for recreational water sports activities are driving the water bikes market. Water biking is fairly new, however, recent design improvements to make water bikes safer and more comfortable, besides international spotlight on marine tourism, will bolster scope for water bikes sales.
As per Fact.MR, the demand for rental water bikes will grow at a strong pace, as sport activities become highly popular in tourist destinations. In response to the surging demand, manufacturers have launched electric water bikes.
Electric bikes are easier to rise and guarantee a smooth experience. As per the report, the sales of electric water bikes are expected to reach US$ 42.5 Mn by 2031. Key players like Manta5 and Red Shark Bikes are launching new electric models to cater to the rising demand.
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North America will continue dominating the water bikes market owing to the increasing investments in water sports, changing lifestyle and high demand for water bikes in hotels, beaches and municipal parks. The region is expected to account for over 40% global water bike demand, with total market revenue reaching a valuation of US$ 9.2 Mn by 2021 end.
“Market players are focusing on design improvement. Alongside this, investment towards manufacturing electric water bikes will increase as they aim for curbing carbon footprint. These developments are expected to steer growth in the market in the coming years,” says a Fact.MR analyst.
Key Takeaways from Water Bikes Market Survey
- With increasing investments in water sports activities, the U.S. will continue to dominate the North America market with over 84% share.
- China is projected to surpass a valuation of US$ 4 Mn by 2031 as a result of rising demand for water bikes across amusement parks, outdoor public playgrounds and other applications.
- Driven by flourishing tourism sector, presence of magnificent beaches, and growing popularity of water sports, Spain will hold more than ¼ of market share in Europe.
- Australia & New Zealand holds around more than 3/4 market share in the South Asia & Pacific.
- Rental water bikes are expected to hold more than 60% of the global market by 2031.
- Based on technology, the pontoon-based water bikes segment is expected to grow at 23% CAGR during the forecast period.
- Rise in the water sports activities is boosting the sales of water bikes.
- Availability of rental water bikes will continue to creating opportunities for the expansion of the water bikes market.
- High cost of advanced water bikes along and government regulations on international trade are hampering the growth of the market.
- Pandemic-induced suspension of tourism and restrictions imposed to contain the infection negatively impacted water bikes sales.
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Key companies are focusing on strengthening their presence by developing better and cost-efficient water bikes. They have adopted various organic and inorganic growth strategies such as mergers, acquisitions, partnerships, new product launches and collaborations to gain a competitive advantage in the market.
- In June 2018, Red Shark Bikes unveiled three new pedal-powered trimarans that let people cruise on water. The three models include Fun, Adventure and Sport.
- In January 2020, the World’s first hydrofoil e-bike “Hydrofoiler XE-1” appeared at consumer electronics show (CES) in Vegas.
- In January 2020, Kiwi based hydrofoil electric bike company Manta5 announced that it is looking to raise $10 million in capital to fund the manufacturing of its bikes designed to be ridden on water. Manta5 was one of the three New Zealand tech companies exhibiting their technologies at the consumer electronics show (CES) in Las Vegas
Some of the leading players operating in the water bikes market profiled by Fact.MR are:
- Schiller Waterbikes
- Hydrobikes Inc.
- Aurea Bike
- SBK ENGINEERING SRL
- Red Shark Bikes
- Waterbike Italia S.R.L
- QINGDAO HAOYANG BOAT Co., Ltd.
- Wuxi Funsor Marin Equipment Co., Ltd
- Guangzhou Powerful Toys Co., Ltd.
- Guangzhou Suntop Inflatables Co., Ltd.
More Insights on the Global Water Bikes Sales Outlook
Fact.MR provides an unbiased analysis of water bikes market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for water bikes with a detailed segmentation on the basis of:
- Manual Water Bikes
- Electric Water Bikes
- Personal Water Bikes
- Rental Water Bikes
Key Questions Covered in the Water Bikes Sales Outlook Report
- The report offers insight into water bikes demand outlook for 2021-2031
- The market study also highlights projected sales growth for water bikes market between 2021 and 2031
- Water bikes market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Water bikes market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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