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LONDON--(BUSINESS WIRE)--The global canoeing and kayaking equipment market is expected to grow by USD 124.44 million during 2020-2024, progressing at a CAGR of almost 2% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19. The growing preference for recreational kayaking will drive the canoeing and kayaking equipment market growth. Globally, most travel agencies offer surfing as one of the common adventure activities in their tour packages to attract domestic as well as overseas tourists. Participants choose kayaking as the activity allows them to exercise outdoors while socializing with friends and family. Kayaking in oceans, rivers, and preserved inland lakes is gaining popularity in most tourist destinations globally, owing to the rapid growth of the millennial population, growing disposable income, and the increasing popularity of adventure tourism. Therefore, the increasing adoption of kayaking in adventure tourism will propel the growth of the global canoeing and kayaking equipment market. Report Highlights Read the full report here: www.technavio.com/report/canoeing-and-kayaking-equipment-market-industry-analysis? Increasing Number of Paddle Sports Contests will be a Key Market Trend Globally, the growing interest among people in adventure sports has increased the number of paddle sports competitions being organized. Professional surfers, who participate in various surfing championships, receive corporate sponsorships. As a part of their marketing strategy, many large companies, such as Stubbies (a clothing brand), Stance (a lifestyle brand), and Dakine (a specialist in sportswear and equipment), sponsor surfers or championship events and competitions. Many organizations also organize sporting events for surfing to promote surfing destinations. For instance, in September 2020, the BSUPA Championships announced that it would complete its 12th anniversary of the competition on September 26 and 28, 2020, in the UK. Such an increasing number of paddle sport events and championships encourage many people to participate in them either recreationally or professionally. This, in turn, increases the demand for canoeing and kayaking equipment, which drives the growth of the market. Technavios sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report Canoeing and Kayaking Equipment Market 2020-2024 : Key Highlights Register for a free trial today and gain instant access to 17,000+ market research reports Technavio's SUBSCRIPTION platform About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Answer: Coronavirus Business and Industry Impact Analysis for Global Canoeing and Kayaking Equipment Market 2020-2024 | Market to See a 2% Annual Growth through 2024 | Technavio Industry Boosted by the Growing Preference for Recreational Kayaking