Market Insights Consumer Toys & Hobby Sports Equipment

Water Sports Equipment - Belgium

Belgium

in Belgium, a country known for its rich history and vibrant culture, also plays a significant role in the Water Sports Equipment market.
In 2024, the revenue in this market segment is projected to reach US$53.1m.
Looking ahead, the market is expected to experience an annual growth rate of 2.78% between 2024 and 2028, according to the compound annual growth rate (CAGR).
When comparing Belgium's revenue figures to the global market, it becomes evident that in India generates the highest revenue in this sector.
In 2024, in India is predicted to generate a staggering US$2,124.0m in revenue.
To put these numbers into perspective, it is essential to consider the population size.
In Belgium, the per person revenue generated in 2024 is estimated to be US$4.53.
This figure showcases the economic impact of the Water Sports Equipment market on a per capita basis.
Overall, Belgium's presence in the Water Sports Equipment market demonstrates its contribution to the global industry, albeit with revenue figures that are lower compared to countries like in India.
Nonetheless, the market's growth potential and the per person revenue highlight Belgium's significance in this sector.
Belgium's water sports equipment market is experiencing a surge in demand due to the country's strong emphasis on outdoor activities and its numerous waterways.

Key regions: Asia, Italy, Worldwide, China, Europe

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.