The Surfboard market is expected to grow at a CAGR of 5% during the forecast period 2017–2022
Surfboard Market – Report Insights
Surfboard demand is gaining momentum as surfing is becoming a popular sport across the globe. Over the past decade, the sport has gained popularity as an outdoor recreational sport activity in many coastal regions. The participation in surfing has increased over the period which has increased the potential market for retail industries that manufacture surf related equipment and accessories.
Scope of the Report
The report, “Global Surfboard Market – Strategic Assessment and Forecast 2017–2022” considers the present scenario of the surfboard market and its strategic assessment for the period 2017–2022. It also includes a detailed study of growth drivers, trends, and restraints. Lastly, it studies the competitive landscape and includes the leading five vendors in the surfboard market.
The report provides the analysis of the key segments of the surfboard market by type/product, geography, country, and vendors. It provides a detailed analysis of market size and forecast in terms of the following:
- SUP board
- Hybrid board
- Latin America
- North America
- Peru Brazil
- South Africa
Surfboard Market – Market Size and Dynamics
Surfing destinations have been popularized by various magazines, television, the internet, and other media, which have driven the growth of surf tourism. Vendors advertise the latest surf products with new and improved features. Advertisements in magazines raise awareness about new surfboard in the market and encourage surfers to repurchase surfboard. This boosts the sale of surfboards in the market. Analysts at Beige Market Intelligence expects that the global surfboard market is likely to grow at an impressive CAGR more than 5%.
Additionally, surf schools have a critical role to play in encouraging new surfers. Analysts at Beige Market Intelligence expect that the increase in the number of surf schools across the globe will drive the sale of surfboard.
Shortboards are lightweight, and they have a lower life span than other surf boards and have a large repurchase cycle. The shortboard segment contributes a major chunk of revenue toward the global surfboard market. The sale of shortboard is expected to cross 280 thousand units by 2022. Longboards are the preferred choice of beginners. SUP stands for “standup paddle boarding” and is one of the fastest growing water sports. Increasing popularity of SUP is expected to drive the demand for SUP boards during the forecast period.
Surfboard Market – Trends, Drivers, and Challenges
Increased participation in surf and introduction of surf parks are among the major factors that are driving the global surfboard market. The report outlines the latest trends and factors that are expected to drive the market during the forecast period. Increased number of female participants, introduction of advanced surfboard designs, and rise in combined surf and wellness school are among the emerging trends that are expected to drive the market. The report also provides a detailed study of expected challenges to the market. It also provides the Porter’s five forces analysis along with a description of each force and its impact on the market.
Surfboard Market – Geographical Analysis
The report includes the market analysis of different regions such as APAC, Europe, Latin America, MEA, and North America. It outlines the major market shareholders and analyzes the market size of all the leading regions. North America dominates the surf tourism industry with majority of sales coming from the US in the region. Also, surf tourism is gaining popularity in countries such as APAC, MEA, and the market is expected to achieve the fastest growth in these regions during the forecast period. In Europe, the UK was the largest market for surf tourism equipment.
Surfboard Market – Key Vendors and Market Share
The market is highly competitive as many local and international players are competing to gain the market share. The report profiles all major companies in the global surfboard market and also provides the competitive landscape and market shares of key players. It covers the entire market outlook regarding the value chain operating within the market.
Major Vendors are as following:
- Channel Islands
- Global Surf Industries (GSI)
- Firewire Surfboards
- Boardriders Inc./ Quicksilver Inc.
- Rip Curl
Other vendors include Agit Global, AJW, BIC Sports, BruSurf, Billabong, Byrne Surf, Canvas, DHD Surf, Greco Surf, Hydenshapes, Infinity, Keeper Sports Products, LOST, Mt Woodgee, NSP, Robert August Surf Company, Surftech, SUPERbrand, and Yuan Sports.
Why should you buy the report?
The report provides answers to the following questions related to the global surfboard market.
- What are the current changes witnessed by the market and how are they likely to impact the market landscape in the coming years?
- What are the various factors that can affect the market over the next few years?
- What are the major emerging trends and challenges for the market over the next five years?
- What is the market size and market forecast for each product segment?
- What is the market size and market forecast for each end-user type?
- Which region is expected to have the highest market share and what are the factors driving the market growth in that region?
- What is the sale growth rate in key geographies?
- Which are the key countries in terms of market size and market forecast?
- Which are the key vendors in the market?
- What are the key strategies implemented by the leading vendors to increase growth opportunities
- Which are the key emerging vendors in the market?