Hydro Bike Market size was valued at USD 26.5 billion in 2022 and is estimated to reach USD 40.3 billion in 2029, growing at a CAGR of 3.2% from 2023-2029. Hydro bike is a premier watercraft, used for water sports food and fishing. It can be easily ridden in even the windiest and waviest weather. Hydro bike is not completely available around the world when compared to the US. Manufacturers are planning different product designs and innovations in hydro bikes to meet customer needs. With growing interest in activities, water sports become the most preferable activity. Countries with long coastlines growing markets for hydro bike activity. As a result, the demand for hydro bikes is increasing and it is expected to increase more in the future. People are taking water activity as most activities, as average normal cycling can burn 300-350 calories whereas a hydro bike with extra resistance of the water can burn more than 500 calories. The major market for the hydro bike is in the coastal areas, and water activity enthusiasts are driving the market for hydro bikes. The high price of raw materials is increasing the overall price of finished products. The overall price of the hydro bike remains the same in the forecasted year. With the increase in interest and passion for water sports, the key players increasing innovation in hydro bikes to gain market opportunity in water activities.
Hydro Bike Market Key Developments:
In August 2022, Hydrobikes Inc. introduced the “electric Hydro Bike” for more fun-loving innovation in water.
Fastest Growing Market
The rising demand for water sports across the world is the major market driver in the hydro bike market during the forecast period. Water sports facilitate the people towards the different water activities which provide batter opportunity for key players of hydro bike products.
The Hydro bike market was valued at USD 26.5 million in 2022 and is estimated to reach USD 40.3 million in 2029, growing at a CAGR of 3.2% from 2023-2029.
The leading players in the hydro bike market are; Yamaha motors corporation, Hydrobikes Inc., Schiller bikes, Austin water bikes, Dave Cornthwaite, and among others.
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation, and Seven years forecast is presented from 2023 – 2029.