Water Bikes Market Size, Share, and Trends 2024 to 2033

Water Bikes Market Size to Reach USD 352.33 Bn by 2033

The global water bikes market size was valued at USD 37.53 million in 2023 and is anticipated to reach around USD 352.33 million by 2033, expanding at a CAGR of 25.10% from 2024 to 2033. The rise in tourism activities due to the rising disposal income is driving the growth of the market.

Key Takeaways

• By product, the two-seater type segment dominated the water bikes market in 2023.
• By type, the electric segment is expected to have a notable rate of growth during the forecast period.
• By application, the touring segment held the largest market share in the market in 2023.
• By region, North America led the water bikes market with the largest share in 2023.
• By region, Asia Pacific is expected to witness the fastest growth in the market during the forecast period.

Water Bikes Market Size in U.S. 2024 to 2033

The U.S. water bikes market size was estimated at USD 11.82 million in 2023 and is predicted to be worth around USD 110.98 million by 2033 at a CAGR of 25.15% from 2024 to 2033.

North America led the water bikes market with the largest size in 2023. The growth of the market in the region is due to the rising tourism activities and the ocean domination in the various U.S. cities are driving the growth of the water bikes market. The rising spending on travel and tourism and the spending of time and money on luxurious activities are surging the growth of the market. Additionally, the rising government initiatives for promoting tourist places and activities around the regional cities are contributing to the growth of the water bike market. The rising presence of the major manufacturer of water bikes and electronics is accelerating the growth of the water bikes market in the region.

Asia Pacific is expected to witness the fastest growth in the market during the forecast period in the water bikes market. The growth of the market in the region is increasing due to the rising spending on the tourism and travel industry by the government and promoting and exploring the new beachside places in countries like India is driving the demand for the sports activities that further drives the growth of the water bikes market. Additionally, the rising population and the increasing interest in spending money and time on luxurious places and activities by the people due to the rising disposable income in the population are contributing to the growth of the water bikes market in the region.

Water Bikes Market Overview

Water bikes are the type of bikes or rides that are operated on the water surface like oceans, seas, rivers, etc. In the water bikes the rider sits or stands on the bikes to operate the boat. Water bikes are also used for workout purposes due to the cycling involved in it which decreases the calories of the body. Water bikes are the most popular water sports as the tourism activities by the travelers. It provides thrilling and safer rides for the rider.

The global water bikes market has started offering bikes in the electric, and manual variants, in which the electric variant gained popularity due to its light weight, efficiency, and improved experience for the consumers. The rise in tourist activities globally due to the rising awareness through social media and rising spending on the lifestyle drives the tourism industry and drives the growth of the water bikes market.

Growth Factors

• The increasing tourism industry and the rising interest in the outing, and doing fun activities, and adventures in their tour is driving the demand for the water bikes market.
• On the other hand, the rising popularity of beach water sports propels the expansion of the market.
• The rising urbanization, increasing spending on lifestyle maintenance, traveling and tourism, and food and dining out due to the rising standards of living and the increasing disposable income of the people are contributing to the growth of the market.
• The increasing technological advancement in electronic things and the rise in tourism activities are driving the advancements in the water sports culture that also enhance the growth of the market.
• The rising government initiatives by the various regional governments for increasing the tourism industry also reduce the price of such types of water sports gadgets or equipment for affordability to the people contributing to the growth of the water bikes market.

Water Bikes Market Scope

Water Bikes Market Dynamics

Driver: The increasing tourism industry

The increasing tourism industry in several regions around the world is contributing to the growth of the water bikes market. The increasing disposable income and urbanization rise in the standard of living and increasing inclination towards traveling to fancy and luxurious places like beaches are driving the demand for water sports activities which further promotes the market’s expansion. People are seeking to spend their money and their time at places that offer water sports and activities in order to experience adventurous activities. Increasing investment in the tourism industry and the attraction in the tourist activities, resorts, and destinations, are driving the demand for rental water sports activities contributing to the growth of the water bikes market.

Restraint: Seasonal limitations

Water bike activities are considered seasonal activities and the demand for the market varies according to the seasonal influence. Seasons like cold and rainy are restricting the adoption of water sports and activities by tourists. Alongside, few water sports and activities are also banned during rainy seasons, this creates another limitation for product acceptance. Such factors caused by seasonal limitations often create skepticism among key players while expanding businesses. Additionally, the higher cost associated with the product and the rental services is also limiting the growth of the water bikes market.

Opportunity: Technological innovations

The evolution of technologies in water sports boats, bikes, and other activities are observed to offer potential and lucrative opportunities to the water bikes market in the upcoming period. The increasing investments in the development of product technology and designs, the launch of new innovative products to meet the consumer experience, and the growing participation of the significant manufacturers in product launches and technologies collectively drive the market's growth. The increasing investments in the tourism industry by the various regional governments, such as the U.S., China, India, etc., are contributing to the development of beachside tourism and activities that accelerate the growth of the water bikes market in the forecast period.

Product Insights

The two-seater type segment dominated the water bikes market in 2023. The segment’s dominance in the market is attributed to the higher reliability and the durability of the two-seater water bikes, that promotes the product adoption in the market. The two-seater water bikes are gaining popularity due to the increasing couple tourist activities and sports activities and the major manufacturers are focusing on cost-efficiency. Along with this, the operational efficiency in the product is also driving the demand for the two-seater water bikes. Additionally, two-seater water bikes are lightweight and easy to install and designed with modern materials, contributing to the growth of the two-seater water bikes segment in the water bikes market.

The solo segment is observed to gain significant momentum in the water bikes market during the forecast period. Most of the solo water bikes are utilized to gain comfort during water sports and activities. They are easy to operate and mostly powered by human energy, making them appeal to consumers due to their compact size. All these factors offer a lucrative reason for the segment to expand in the upcoming years.

Type Insights

The electric segment is observed to witness a notable rate of growth during the forecast period in the water bikes market during the forecast period. The growth of the segment is attributed to the rising adoption of electric water bikes due to the convenience in use and the additional features like easy pedaling, and an easier ride for the aged people are driving the growth of the segment.

The technological advancements in the water bikes are also contributing to the electric water bikes expansion. The electric water bikes are about to capture the significant market area of the water bikes as compared to the other like manual water bikes. Additionally, the rising research and development activities in the development of water bikes are accelerating the growth of the electric water bikes segment in the water bikes market.

The manual segment had a significant share in 2023. Manual water bikes are easy to operate, requiring minimal training or experience. Unlike motorized watercraft, which may have complex controls, manual water bikes typically have simple and intuitive mechanisms for propulsion, such as pedals or paddle wheels.

This accessibility makes them appealing to a wide range of users, including beginners and families. Manual water bikes are environmentally friendly alternatives to motorized watercraft, as they do not rely on fossil fuels or emit harmful emissions. They are powered solely by human energy, making them a sustainable option for enjoying water-based activities without contributing to pollution or noise disturbances.

Application Insights

The touring segment held the highest market share in the water bikes market in 2023. The increasing tourism industry across the world is the major factor that contributes to the growth of the market. The rising sports activities in ocean-dominating countries like Italy, Spain, etc. are driving the expansion of the water bikes market in the region.

The increasing government initiatives for the expansion of tourism activities and the increasing investment by the public and private sectors for infrastructural development in the travel and tourism industry are accelerating the demand for water bikes in touring applications. The rising popularity of exploring new places and the rising awareness through social media and influencers are driving the expansion of the tourism industry and contributing to the expansion of the water bikes market.

The fishing segment is expected to have a notable rate of growth during the forecast period. As the global population continues to rise, there is a growing demand for seafood products worldwide. The fishing industry plays a vital role in meeting this demand by harvesting various types of fish and seafood to supply to markets, restaurants, and consumers. Aquaculture, or fish farming, is witnessing rapid expansion to meet the increasing demand for seafood. This includes the farming of fish species such as salmon, tilapia, and shrimp. The growth of aquaculture contributes to the overall fishing industry, driving demand for equipment, supplies, and services related to fish farming.

Recent Developments

• In March 2024, Peterborough's Ferry Meadows, water sports hire is announcing reopening after the closure due to the flooding. It is officially back for the season of 2024 on March 12 Tuesdays are closed due to the high level of water at the park caused by the rain in recent weeks and months.

Water Bike Market Companies

• Hydrobikes
• Manta5
• Redsharkbikes
• SBK Engineering
• Schiller
• Aurea Bike
• Waterbike Italia S.R.L
• Wuxi Funsor Marin Equipment Co., Ltd
• QINGDAO HAOYANG BOAT Co., Ltd.
• Pioner Boats

Segments Covered in the Report

By Product

• Two-Seater Type
• Solo Type

By Type

• Manual
• Electric

By Application

• Touring
• Racing
• Fishing

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa