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Water Sports Equipment - Equatorial Guinea

Equatorial Guinea
  • in Equatorial Guinea, a country Central_Africa, contributes to the revenue in the Water Sports Equipment market.
  • In 2024, the market in Equatorial Guinea is estimated to reach a total of US$6.2m.
  • Looking ahead, the market is projected to experience an annual growth rate of 6.33%, as measured by the compound annual growth rate (CAGR) from 2024 to 2029.
  • On a global scale, India generates the highest revenue in the Water Sports Equipment market, with an impressive figure of US$2.1bn in 2024.
  • This indicates the significant presence and economic potential of the Indian market in this sector.
  • To gauge the economic impact of the Water Sports Equipment market in Equatorial Guinea, we can examine the per person revenues.
  • In 2024, the per person revenue is estimated to be US$3.52.
  • This metric allows us to assess the market's contribution relative to the country's population.
  • Equatorial Guinea, with its stunning coastline and abundant marine life, is witnessing a surge in demand for water sports equipment.

Definition:

Water sports equipment includes products designed for various water-related activities such as swimming, diving, surfing, and kayaking. This category includes swimsuits, wetsuits, fins, goggles, snorkels, surfboards, kayaks, and other protective gear. Technological advancements, increasing interest in water sports, and the growing popularity of beach tourism are some of the factors driving the water sports equipment market.

Additional Information:

The market comprises revenue and average revenue per capita. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Johnson Outdoors, Arena, Decathlon, and Aqua Lung. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Sailboards, surfboards, bodyboards, and paddles
  • Kayaks
  • Water skis and wakeboards
  • Swimming and snorkeling gear

Out-Of-Scope

  • Swimsuits, wetsuits, and other sports apparel
  • Flip-flops, sandals, beach shoes, and sports footwear

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jul 2024

Source: Statista Market Insights

Most recent update: Jul 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Jul 2024

Source: Statista Market Insights

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.

Key Market Indicators

Notes: Based on IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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