Market Insights Consumer Toys & Hobby Sports Equipment

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$6m.
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, in India generates the highest revenue in the Water Sports Equipment market, with an impressive figure of US$2,124m in 2024.
This indicates the significant presence and economic potential of the in 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.

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.