The ‘Global Surfing Equipment Market Price, Size, Share, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global surfing equipment market, assessing the market on the basis of its segments like product, distribution channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Surfing Equipment Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 4.43 billion
- Forecast CAGR (2023-2028): 3.70%
- Forecast Market Size (2028): USD 5.48 billion
The major drivers of the global surfing equipment market include the increasing popularity of surfing as a surface water sport. Over the past years, the number of professional surfing organisations have significantly increasing, leading to the official debut of the sport in the 2021 Tokyo Olympics. The market for surfing equipment has rapidly expanded since, as surfing has been started to be taken more seriously as a sport in addition to a hobby.
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Increasing popularity of surf tourism has resulted in increase in sales of electric surf boards as they provide higher water repulsion, superior torque, and aid in surfing in the absence of waves. Development of surf schools has driven the growth of the surfing equipment market as these schools create awareness about the sport and provide learning opportunities to those interested.
Growing knowledge about the benefits of using surfing equipment has led to an increase in their utilisation by both amateurs and professionals. They are designed to protect surfers from rashes, low temperature water, and water currents, among others. Increased availability of surfing equipment on online websites and offline stores such as supermarkets, malls, and speciality stores has led to better accessibility and hence, bolstered the growth of the surfing equipment market.
Surfing Equipment Industry Definition and Major Segments
Surfing is a surface water sport in which the surfer rides the incoming waves with the help of a board. Surfing equipment are items and accessories that are used while surfing, including wet suits, goggles, and surfboards. The main aim of using surfing equipment is to ensure safety of the surfer and provide comfort and ease while surfing.
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On the basis of product, the market is segmented into:
Based on distribution channel, the market is bifurcated into:
On the basis of region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Surfing Equipment Market Trends
The key trends in the global surfing equipment market include surge in demand for customised equipment such as surfboards, apparel, and gear among millennials, water enthusiasts, and professionals. Surfers often prefer customised surfing equipment as they are better suited to their body types and structures and aid them in navigating water currents more effectively.
Several health benefits of surfing such as improved functioning of the cardiovascular system, development of muscle strength in shoulders, back, chest and arms and management of anxiety and stress levels are supporting the growth of the surfing equipment market. Surfing requires paddling in water, this helps in strengthening the cardiovascular muscles, whereas, standing and squatting require whole body movements and aid in strengthening muscles all across the body. Apart from core development and strengthening benefits, surfing also burns calories, therefore the sport has become increasingly popular among health-conscious individuals.
In regional terms, North America accounts for a significant portion of the market owing to increasing popularity of the surface water sport among adventure enthusiasts. Extensive beaches and coastlines support the massive market along with increasing presence of surfing competitions and popularity of surfing as a leisure activity. Creation of improved surfing equipment by leading manufacturers through expansion of their development and research activities is expected to have a significant impact on the market growth in the region.
Key Market Players
The major players in the global surfing equipment market report are Boardriders, Inc., NIKE, Inc., Rusty Surfboards, Inc., Firewire Surfboards, LLC, Agit Global, Inc, Cobra International Co., Ltd, Huizhou Xinyitong Sports Equipment Co. LTD, Tahe Outdoors, and Simon Anderson Surfboards, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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