The global Surfing Equipment market size is expected to be worth around US$ 10.47 billion by 2030, according to a new report by Vision Research Reports.
The global Surfing Equipment market size was valued at US$ 6.88 billion in 2020 and is anticipated to grow at a CAGR of 8.4% during forecast period 2021 to 2030.
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The primary factor driving the market growth is the push by surfing equipment manufacturers, marketers, and associations to make surfing much more approachable than it has been in previous years. In addition, increased interest in surfing due to the growing focus of consumers on wellness and fitness will support the market growth. Over the years, surf tourism has had a considerable impact on the demand for surfing equipment and apparel.
In recent years, increased accessibility and affordability have attracted a large number of surfers from many demographic groups. Due to the use of wave pools for training, surfing has become more accessible to people who do not live near a beach. Surfers who can access these pools can train regardless of the weather and at any time of the day. Thus, an increasing number of wave pools has increased the demand for surfing equipment.
The surfing boards segment dominated the market with a revenue share of more than 68% in 2020. During the forecast period, sales of surfing boards will be boosted due to the rising engagement in surfing, growing surf tourism, and increasing disposable income levels. Fins, leash, surf wax, surf earplugs, surfboard bag, surf poncho, boots, hoods, gloves, and surf watches are all essential surfing accessories in addition to surfboards and surfing clothes.
The offline distribution channel segment accounted for the largest revenue share of over 85% and will retain its leading position throughout the forecast period. However, the online segment is estimated to register the fastest CAGR from 2021 to 2030 due to technical improvements and the increasing importance given to online platforms for purchasing surfing equipment, particularly by consumers looking for bargains.
North America accounted for the largest revenue share of more than 47%. The growing popularity of surfing among adventure enthusiasts in North America is fueling the product demand in the region. In 2020, the surfing boards category held a considerable share of the North America regional market and the trend is likely to continue during the forecast period.
- Quiksilver, Inc.
- JS Industries
- Channel Islands Surfboards
- Nike, Inc.
- Firewire Surfboards, LLC
- Rusty Surfboards
- Rip Curl. Ltd.
- Cannibal Surfboards
|Market Size||US$ 10.47 billion by 2030|
|Growth Rate||CAGR of 8.4% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Billabong; Quiksilver, Inc.; JS Industries; Channel Islands Surfboards; Nike, Inc.; Firewire Surfboards, LLC; Rusty Surfboards; Rip Curl. Ltd.; Cannibal Surfboards; O’Neill|
- Surfing Boards
- Apparels & Accessories
- Distribution Channel
- North America
- Asia Pacific
- New Zealand
- Central & South America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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