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The Worldwide Kicking Strap Industry is Expected to Reach $494.9 Million by 2030 - ResearchAndMarkets.com

·3-min read

DUBLIN, October 28, 2021--(BUSINESS WIRE)--The "Kicking Strap Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global kicking strap market size was valued at $268.3 million in 2020, and is expected to reach $494.9 million by 2030, with a CAGR of 6.2% from 2021 to 2030.

Kicking strap, also called as boom vangs, is one of the major important components used in keelboats, sailboats, and dinghies. Kicking strap is a line or piston system on sailboat and keelboats used to exert downward force on the boom, thereby controlling the balance of sailboat.

The features of kicking strap such as high efficiency, controlled balance between horizontal & vertical angles, and low maintenance boost its adoption in many ship and sailboat applications. In addition, increase in demand for kicking strap from professional sports and amateur applications acts as a key driving forces of the global kicking strap market.

In addition, rise in adoption of kicking strap in boating, sailing, fishing, and others activities, owing to balance mast of the boom fuels the growth of the kicking strap market. Furthermore, increase in sailboat tourism activities and water sports activities in various countries such as the U.S., China, and India propels the demand for kicking strap. In addition, increase in the popularity of recreational boating activities among tourists of all the age groups contributes toward the growth of the global kicking strap market.

However, fluctuation in raw material prices and low production volume of kicking strap hamper the growth of the kicking strap market. On the contrary, technological innovations in kicking strap is anticipated to create growth opportunities for the global market.

The global kicking strap market is segmented into product type, application, distribution channel, and region. On the basis of product type, the market is divided into hydraulic, rigid, and others. The rigid segment generated the highest revenue in 2020. On the basis of application, the market is fragmented into professional sports and amateur leisure. The amateur leisure segment generated the highest revenue in 2020. Depending on distribution channel, the market is segregated into offline and online. The offline segment dominated the market in 2020.

Region wise, the global kicking strap market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Europe was the highest contributor to the global kicking strap market share, and is anticipated to secure a leading position during the forecast period.

Key Benefits

  • The report provides an extensive analysis of the current trends and future estimations.

  • Extensive analysis of global kicking strap market is conducted by following key product positioning and monitoring of the top competitors within the market framework.

  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.

  • The global kicking strap market forecast analysis from 2021 to 2030 is included in the report.

  • The key market players within the global kicking strap market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global kicking strap market.

Market Dynamics

Drivers

  • Increase in demand for cargo transportation through ships

  • Rising Tourism

  • Increase in adoption of kicking strap in water sports activities

Restraints

  • Fluctuation in raw material prices

  • Manufacturer produce products in limited quantities

Opportunity

  • Technological innovation in kicking strap

Key Players

  • AG + Spars

  • Allen Brothers (Fittings) Ltd.

  • Forespar Products Corporation

  • Hall Spars

  • Hood Yacht Systems

  • Nemo Industrie S.p.A.

  • Optimarts Marine Equipment B.V.

  • Selden Mast AB

  • Sparcraft

  • Sea Sure Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/id3kad

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005912/en/

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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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