Portland, OR, Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global kicking strap market generated $268.3 million in 2020, and is projected to reach $494.9 million by 2030, witnessing a CAGR of 6.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in tourism, surge in demand for cargo transformation through ships, and increase in adoption of kicking strap in water sports activities drive the growth of the global kicking strap market. However, fluctuations in raw material prices restrain the market to some extent. On the other hand, technological innovations in kicking straps present new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic hampered the growth of the kicking strap market to an extent, owing to the lockdown measures in different countries and delay in manufacturing & production facilities.
- However, the global situation is getting better at a slow & steady pace, and the market is anticipated to revive soon.
The report offers detailed segmentation of the global kicking strap market based on product type, distribution channel, application, and region.
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Based on product type, the rigid segment held the highest market share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the hydraulics segment is estimated to register the highest CAGR of 6.3% from 2021 to 2030.
Based on distribution channel, the offline segment held the largest market share in 2020, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the online segment is projected to register the highest CAGR of 7.5% from 2021 to 2030.
Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding nearly three-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.0% during the forecast period.
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Major Players:
Leading players of the global kicking strap market analyzed in the research include 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, and Sea Sure Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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