Surfboard Market Share, Size, Trends, Industry Analysis Report, By Product (Shortboards, Longboards); By End Use; By Distribution Channel; By Region; Segment Forecast, 2023-2032
- Published Date:Mar-2023
- Pages: 116
- Format: PDF
- Report ID: PM3077
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global surfboard market was valued at USD 2,471.03 million in 2022 and is expected to grow at a CAGR of 7.74% during the forecast period. The market's expansion depends on a few variables, such as the global hosting of surfing competitions where surfers compete, display their abilities, and win prizes to gain recognition. Recreational outdoor sports also play a significant role in developing people with disabilities. The surfboard market is growing primarily due to increased educational surfing programs. As per the survey, 99% of people worldwide who have never surfed represent the true market. "Surfing could grow to be an industry ten times larger than it is today in the next ten years." It states that the system at Surf Lakes might produce waves of up to 15 feet for competitive surfing.
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The governing organization for surfing also introduced these programs to ensure industry-standard quality, effectiveness, and safety for coaches & instructors teaching surfing & SUP boarding. Growing awareness among people about surfing and companies' new marketing strategies are driving the expansion of the surfboard industry in the coming years. The Facebook CEO, Mark Jucker Burg, was participating in hydro foiling, a new water activity that has gained appeal among outdoor lovers and those with lots of money to invest in an expensive piece of recreational equipment. This is driving the demand for the market's growth in the coming future.
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Industry Dynamics
Growth Drivers
A major force behind the growth of the surfboard business is the rise in the number of educational surfing classes. The International Surfing Association (ISA), a global governing body, sets rules for bodysurfing, surfing, SUP racing and surfing, wake surfing, and other wave-riding activities. To advance the growth and development of surfing, the International Surfing Association (ISA) has also introduced several educational programs worldwide. Additionally, surfing schools have been constructed close to coastal locations to promote and educate new surfers. Using these courses, teachers can approach surfing instruction scientifically and help surfers improve their knowledge, skills, and abilities.
Environmentally friendly surfboards are driving the growth of the surfboard market in upcoming years. According to Thoreau, Sine Surf enables a sustainable surfing lifestyle for all surfers by combining computer-aided manufacturing (CAM) design, CNC machining, pneumatics, and UV cure resins. Surfers are becoming increasingly aware of how the gear they use damages the environment that gives them such joy. This will further fuel the growth of the market throughout the forecast period.
Report Segmentation
The market is primarily segmented based on product, end user, distribution channel and region.
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By Product |
By End User |
By Distribution Channel |
By Region |
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Shortboards Segment is expected to witness fastest growth during the forecast period
The shortboards segment is expected to grow more in the upcoming years. Shortboards are specifically made for surfers at the advanced level. They are between 18 and 22 inches wide and 5-7 feet long. They are lighter since less foam and glass were used in their construction. They can also provide excellent performance and maneuverability because of this. Shortboards are used when the waves are powerful, steep, and rapid because they can move quickly and easily through the water. The surfboard industry has made significant technological advancements, producing lighter, stronger, and more performance-oriented shortboards. These advancements have made shortboards more accessible to a wider range of surfers, contributing to the market's growth.
Recreational Users accounted for the higher market share in 2022
The recreational Users segment is expected to witness significant growth in upcoming years. Surfing has gained popularity in recent years as a recreational activity and sport. This has led to an increase in demand for surfboards, driving growth in the market. The expansion of surfing destinations worldwide has contributed to the development of the market. New surfing destinations offer a wider range of opportunities for recreational surfers to enjoy the sport, increasing demand for surfboards. As disposable income levels rise, people are more likely to participate in recreational activities like surfing. This has led to an increase in demand for surfboards, driving growth in the market. Surfing is increasingly seen as a family activity, with more families participating in the sport together. This trend has led to an increase in demand for surfboards, driving growth in the market.
Offline distribution channel is expected to have larger revenue share
Offline distribution channels are influencing the growth and revenue of the market as it offers several advantages that can positively impact the development of the market, like personalized consumer experience. Offline distribution channels, such as surf shops, sporting goods stores, and brick-and-mortar retailers, continue to play a significant role in the growth of the surfboard market. These can provide customers with a sense of credibility and trust in a brand, as they can physically inspect the product before making a purchase.
Supporting local surf shops and sporting goods stores can help to build strong connections with the surfing community and promote the growth of the surfboard market. Surf shops and sporting goods stores are typically located in coastal areas where surfing is popular, making it easier for surfers to access surfboards. With physical storefronts, surfboard brands can increase their visibility and awareness among potential customers.
The demand in North America is expected to witness significant growth
North is expected to have significant growth in upcoming years. Consumer interest in personalized and transformative experiences is rising along with disposable income. Additionally, this raises the number of people who can afford to engage in outdoor leisure pursuits that provide a variety of experiences. According to the Sports & Fitness Industry Association, there are 2.874 million surfers in the US. The number of surfers nationwide increased by 7.3% from 2017 to 2018. This region is home to several surfing destinations, including the East Coast and West Coast of the United States. The expansion of these destinations has led to increased demand for surfboards, driving growth in the market.
Asia Pacific will witness a larger revenue share throughout the forecast period. This region has several surfing destinations, including Indonesia, Australia, and New Zealand. The expansion of these destinations has led to increased demand for surfboards, driving growth in the market. Surfing has gained popularity as a sport in the region, and the availability of a perfect environment for surfing, like Kucha beach in Indonesia, Uluwatu beach, and Weligama beach in Sri Lanka, are contributing to an increase in the demand for surfboards. The growing interest in surfing is driving growth in the surfboard market in this region.
Competitive Insight
Some of the major players operating in the global market include Agit Global, Beachbeat Surfboards, Catch Surfboard, Channel Island Surfboards, Derek Girven Surfboards, Firewire Surfboards, Graham Smith Surfboards, Hurricane Surf, Hutchison Handcrafted Surfboards, Matt Adams Surfboards, Ride Awake, Roland Surfboards, Rusty Surfboards, Safari Surf-boards, Shred and Speed, Tahe Kayaks & WaveShark.
Recent Developments
- In October 2022, Major military exercises were carried out by the Chinese government to get ready for a potential conflict with Taiwan. To increase the effectiveness of its onslaught, the nation tried jet-propelled surfboards.
- In February 2022, Awake introduced a new electric surfboard named "Ravik S-22". According to the new model's promotional trailer, with the help of this additional feature, one can surf on any water-body, even on a snowy winter day.
Surfboard Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 2,657.35 million |
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Revenue forecast in 2032 |
USD 5,198.04 million |
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CAGR |
7.74% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019- 2021 |
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Forecast period |
2023- 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Product, By End User, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Agit Global, Beachbeat Surfboards, Catch Surfboard Co LLC, Channel Island Surfboards, Classic Malibu Pty, Derek Girven Surfboards, Firewire Surfboards LLC, Graham Smith Surfboards, Haydenshapes Pty, Hurricane Surf SARL, Hutchison Handcrafted Surfboards, Mami Wata, Matt Adams Surfboards, Ride Awake AB, Roland Surfboards, Rusty Surfboards, Safari Surfboards, Shred and Speed, Tahe Kayaks OU and WaveShark. |
FAQ's
Key companies in surfboard market are product, end user, distribution channel and region.
The global surfboard market expected to grow at a CAGR of 7.74% during the forecast period.
The surfboard market report covering key segments are product, end user, distribution channel and region.
Key driving factors in surfboard market are growing awareness among people about surfing and rise in the number of educational surfing classes.
The global surfboard market size is expected to reach USD 5,198.04 million by 2032.
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