Water Bikes

Water Bikes Market Is Forecast To Expand At A High CAGR Of Close To 24% Y 2031

Automotive

As per a new report published by Fact.MR, a market research and competitive intelligence provider, the global water bikes market is anticipated to exceed a valuation of US$ 20 Mn in 2021, and surge at an impressive CAGR of more than 24% over the forecast period of 2021 to 2031.

The market is in the growth phase of its lifecycle, registering annual growth of 11.5% during 2016-2020. Fact.MR anticipates significant potential in the water bikes market, owing to factors such as increasing tourism activities and growing demand for water sports leisure activities across the world.

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Key Takeaways from Market Study

  • Hydrofoil water bikes are expected to remain the most attractive and likely to offer an absolute dollar opportunity of US$ 51.3 Mn during 2021 – 2031.
  • Based on ownership, rental water bikes are estimated to be the most lucrative, increasing 480 BPS by 2031.
  • Together, North America and Europe represented over 70% of global market share in 2020.
  • Based on product type, demand for electric water bikes is expected to grow 15X during the projection period.
  • The market in North America is expected to gain 940 BPS from 2021 to 2031, and offer an absolute dollar opportunity of US$ 92.9 Mn over the decade.

“Attributable to a captivating product, demand for water bikes is expected to gain prominent growth over the coming years. The market is emerging and expected to see optimistic outcomes in terms of sales, revenue generation, and new innovative products,” says a Fact.MR analyst.

Key Segments Covered in Water Bikes Industry Research

  • By Technology

    • Pontoon
    • Hydrofoil
    • Surfboard
  • By Product Type

    • Manual Water Bikes
    • Electric Water Bikes
  • By Ownership

    • Personal Water Bikes
    • Rental Water Bikes

Competitive Landscape

According to the market research analysis, top manufacturers of water bikes are Schiller Waterbikes, Manta5, Hydrobikes Inc., Aurea Bike, SBK ENGINEERING SRL, Redsharkbikes, and Waterbike Italia S.R.L.

Market players are focusing on expansion, investments, delivery focus, portfolio expansion, and brand development.

Similarly, recent developments related to companies manufacturing water bikes have been tracked by the team at Fact.MR, which are available in the full report.

 

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