Wave Pool Market Scope
Pools in which the generation of artificial waves takes place are known as wave pools. Waves generated by these pools are similar to the waves in the ocean. There are five types of wave pools namely, radial caisson, traditional, reverse beach, split wave pool, and custom shape. To form different types of waves different technologies are used such as air compression, hydrofoil, levers, plunger, water dumping, and rotating fans. Owing to the increase in popularity of wave pools and their rise in use in the surfing industry for practice, the Wave Pool market is expected to grow at a significant rate during the forecast period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Kelly Slater Waves (United States), Surf Lakes (Australia), Endless surf (Canada), Surf LOCH (United States), AllWave (Europe), American Wave Machine (United States), Murphys Waves (United Kingdom), Wavegarden Lagoon (Spain), Okahina Wave (France) and Webber Wave Pools |
CAGR | % |
Wave Pools Market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Kelly Slater Waves (United States), Surf Lakes (Australia), Endless surf (Canada), Surf LOCH (United States), AllWave (Europe), American Wave Machine (United States), Murphys Waves (United Kingdom), Wavegarden Lagoon (Spain), Okahina Wave (France) and Webber Wave Pools are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Wave Pool market by Type , by Application (Water Parks, Leisure Centers, Hotels, Resorts, Amusement Park and Residential) and Region with country level break-up.
On the basis of geography, the market of Wave Pool has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
In August 2021, Kelly Slater Waves partnered with world surf league to delivered surf programme, training and events. World surf league is government body specially dedicated for surfing and it showcase the best knowledge in field. With this partnership Kelly Slater Waves got global exposure and help to strengthen its position in wave pool market
Influencing Trend:
Increasing Popularity of Surfing in Water Sports
Market Growth Drivers:
Increasing Demand of Surf-Worthy Tide in Wave Pool by Professional Surfer for Training, Growing Demand of Wave Pool for Sports and Entertainment, Rise in Popularity in Younger Generation for Fitness and Activities and Elevation of Disposable Income across the Globe
Challenges:
Increasing Incidence of Mechanical Dysfunction Leads to Question the Safety of Users and Lack of Management in Supply and Demand of Product
Restraints:
High Installation and Maintenance Cost
Opportunities:
Increasing Rapid Advancement in Wave Generation Technology