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Pulished Date April, 2021
ID: 8865
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Surfboard Market Analysis – By Product (Polyurethane Boards, Balsa Boards, Hollow Wooden Boards, Others), By End User ( Entertainment, Sport Competition, Others), Region ((North America (U.S., Canada), Europe (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of EU), Asia Pacific (India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC), Latin America (Brazil, Mexico, Argentina, Chile), Middle East and Africa (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA)) - Global Industry Analysis on Size, Share, Trends, Growth, Forecast | 2021 – 2026

Pulished: April, 2021
ID: 8865
Pages: 100

Surfboard Market Size & Growth (2021 - 2026)

The Surfboard Market Size is anticipated to grow with a CAGR of 12.32% during the forecast period 2021-2026

Surfing is among the most common water sports owing to the sport requiring minimal training and equipment. Recreational users are those who take holidays to go on adventure trips on a regular basis.

A surfboard is an elongated surfing frame. Surfboards are relatively light but sturdy enough to support a person standing on them while riding an ocean wave. Over the years, major advancements include introducing one or more fins (skegs) to the board's bottom rear to enhance steering stability, as well as other material and form improvements. Advanced surfboards consist of polyurethane and polystyrene foam-lined with fiberglass cloth layers and polyester or epoxy resin. That results in a light and sturdy, maneuverable surfboard.

Market Drivers

Throughout the forecast period, the introduction of water sports and sporting events like surfing competitions are among the main drivers of growth for the global surfboard industry. Given the increasing number of surfing activities, the number of recreational and experienced surfers is rising. In addition, this will improve the sales of all sorts of surfboards and surf equipment and will contribute to the overall growth of the Surfboard market.

Growth Challenges

While the surfing market is growing at a rapid pace, sustainability concerns continue to challenge the pace of development of the surfing industry, thus dissuading surfboard market growth. In addition, as the Millennial and Gen Z population reaches maturity, their tendency to spend time on online surfing has adversely affected the love of adventure or outdoor sports. Youth beliefs such as these are likely to have an impact on their surfing involvement, thus affecting future surfboard sales.

Key Opportunities

Sustainability in the surfboard industry is a top-of-the-mind topic for all surfing companies. In an effort to set market sustainability standards and meet the ECOBOARD project criteria, manufacturers are introducing sustainable surfboards in the surfboard market. This will provide lucrative opportunities for the growth of the global surfboard market.

REPORT COVERAGE

Report Metric

Details

Market Size Available

2018 – 2024

Base Year

2018

Forecast Period

2019 - 2024

Segments Covered

By Product, End-User, Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Quiksilver, Hobie, Rusty Surfboards, Xanadu Surfboards, Haydenshapes, the board works Surf, Firewire Surfboards, Surftech, McTavish Surfboards, Keeper Sports, True North Gear

 

This research report on the Global Surfboard Market has been segmented & sub-segmented into the following categories and evaluated market size & forecast for each segment until 2024.

Surfboard Market – By Product

  • Polyurethane Boards
  • Balsa Boards
  • Hollow Wooden Boards
  • Others

Surfboard Market - By End User

  • Entertainment
  • Sport Competition
  • Others

Surfboard Market - By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

The North America area is dominated mainly by Canada and the US, where due to its long coastlines, the sport's popularity is at its height.

Asia Pacific is projected to be the fastest-growing surf equipment market, with a substantial CAGR being reported. Although Australia and New Zealand have already established themselves as prominent surf destinations in the world, growing youth inclination for adventure sports in several other countries such as Indonesia, Thailand, Vietnam, Cambodia, Maldives, and Japan has become a key driving factor for the market.

Australia, on the other hand, is anticipated to experience the fastest CAGR throughout the span of study driven by variables such as increasing tourism, increased expenditure on family holidays and beach and surfing tourism and recreation, and the existence of several attractive national surfing reserves in the nation.

Prominent Companies leading Global Surfboard Market Profiled in the Report are Quiksilver, Hobie, Rusty Surfboards, Xanadu Surfboards, Haydenshapes, the board works Surf, Firewire Surfboards, Surftech, McTavish Surfboards, Keeper Sports, True North Gear

 

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms by raw materials,by application,along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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