The sports industry is expanding rapidly across the world as people are increasingly taking up sports and recreational activities. Growing awareness about health issues and stress management are witnessed in the recreational and adventurous sports industry. Progressively, expenditure of consumers on sports protective equipment has increased with a large segment comprising of clothing and equipment related to sports. Markets across the globe are becoming increasingly more competitive; advertising and marketing is now on the agenda of marketing sportswear, equipment, and accessories. Sports activity can happen on land and water bodies.
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The history of parasailing dates back to 1962 when Pierre-Marcel Lemoigne, a French engineer introduced an ascending-gliding parachute. Parasailing is a part of adventure sports where a parascender is towed by a vehicle motor attached by parachute canopy. The parascender has less control over the parachute. Depending on the boat or vehicle capacity, it can parasail about two to three people at a time. The parasailing equipment consists of all those equipment and accessories which are used in this adventure sport. Parasailing as a commercial sport is popular across the globe. In some parts of Europe, parasailing is a competitive sports activity. Parasailing is usually initiated from the shore, from a vehicle or boat platform. Depending on the number of persons to be parasailed, there are different types of harnesses used. Single harness being the most common type is adopted by a single user. Double harness is used when two people parasail together. When three people parasail together, they are attached with a metal bar hooked to three seats known as tandem bar harness. Sky rider chairs are used when more than three people are to be parasailed.
The parasailing equipment market is driven mainly by the rising adventure sports business especially in the water sports category. One of the main factors driving the sales of these equipment is the safety of parascenders. Another factor driving sales is the increasing preference toward tow sports as it is less dangerous. However, parasailing equipment manufacturers can be challenged by players who provide low priced products to the mass market. The parasailing equipment players can avail opportunity by working on product development and improving the attributes of the same. Another opportunity for parasailing equipment market players is the rental supply to large parasailing sports businesses. One of the key trends witnessed in this market is the increasing preference toward off-road parasailing. Another trend is the rising concentration of adventure sports activities from the urban space to the rural space.
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The global parasailing equipment market is segmented on the basis of product type, users, application, and distribution channel. Some of the key product types are life jackets, quick releaser, helmets, wind meters, windsocks, feather flags and banners, winch boat systems, bar system, and harness. Parasail equipment is applicable for both land-based and water-based parasail activity. These equipment can be made available from both online and offline retail stores. Offline stores which mainly stock these kind of sports products are large format stores, specialty stores, brand owned stores, and other independent retailers. Geographically, the global parasailing equipment market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America.