Dublin, March 28, 2022 (GLOBE NEWSWIRE) -- The "Surfing Boards - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Surfing Boards Market to Reach $3.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Surfing Boards estimated at US$2.2 billion in the year 2020, is projected to reach a size of US$3.1 billion by 2026, displaying at a CAGR of 5.8% over the analysis period.
Surf tourism is affected due to travel restrictions implemented across the world and also the shutdown of restaurants, hostels, and hotels. Regions such as Australia, the Maldives, Fiji, France, and Hawaii, among others are popular destinations for surfing and such restrictions have impacted business in these regions. Surfers who preferred travelling during the summers to surf destinations were affected by closure of airports and beaches. Also, several international surfing events have been either postponed or cancelled, further affecting the market.
Shortboards, one of the segments analyzed in the report, is projected to record a 6.1% CAGR to reach a market size of approximately US$2.1 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Longboards segment is projected to spiral at 5.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1 Billion in 2021, While Asia-Pacific is Forecast to Reach $588.2 Million by 2026
Surfing Boards market in the U.S. is estimated at US$1 billion in the year 2021. Asia-Pacific is forecast to reach a projected market size of US$588.2 million by the year 2026 trailing a CAGR of 6.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Europe, each forecast to grow at a CAGR of 5.2% and 5.4% respectively over the analysis period.
A noteworthy trend in the market for surfboards is the increasing popularity of adaptive surfing creating more demand for the boards. Disabled people are learning adaptive surfing as it builds confidence and improves physical well-being and psychosocial and sensorial skills.
Surfing has also become means for the disabled to combat discrimination as it encourages teamwork and contributes towards social inclusion. Adaptive surfing is also known to prevent and treat several pathological conditions in the disabled, resulting from stress and sedentary lifestyle. Adaptive surfing is currently being encouraged across several countries.
Longboards Segment to Reach $745.2 Million by 2026
Longboards are thicker, wider, and longer in length usually 8 to14ft (2.4 to 4.3m). These boards have a much more rounded nose than a shortboard, which increases stability and buoyancy. Longboards are preferred by experienced surfers for their superior features including noseriding and stability.
In the global Longboards Segment, USA, Japan, Europe and Asia-Pacific will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$510.4 million in the year 2020 will reach a projected size of US$733.9 million by the close of the analysis period, accounting for 94.1% of the global market value. USA will remain among the fastest growing in this cluster of regional markets and is forecast to reach US$335.6 million by the year 2026.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Surfing Industry Exhibits Adverse Impact Amid Lockdowns and Travel Restrictions
- Surfing Rage Post Lifting of Restrictions Leave Surfing Board Makers Extremely Busy
- More Free Time Leads to More Surfing & Amazing Bounty for Surfing Industry
- Influencer Market Insights
- Surfing: A Popular Sporting & Leisure Activity
- Surfing Techniques
- Types of Surfing
- Surfboards: An Introduction
- Types of Surfboards
- Global Market Prospects & Outlook
- US Leads the Global Surfing Market
- Competition
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 124 Featured)
- Agit Global, Inc
- Tahe Outdoors
- Blue Sea Watersports Ltd
- BruSurf
- Channel Islands Surfboards, Inc.
- Firewire Surfboards, LLC
- Global Surf Industries
- Hobie Cat Company, Inc.
- Hydenshapes
- Infinity SUP
- Keeper Sports Products, LLC
- McTavish Surfboards
- Mt Woodgee Surfboards
- NSP International
- Rusty Surfboards Inc.
- SURFTECH, LLC
- Boardworks Surf & Sup
- Toy Factory Surfboards
- Woodpecker Natural Surfboards
- XANADU SURF DESIGNS
3. MARKET TRENDS & DRIVERS
- Demographic Factors Influence Sales of Surf Gear
- Surfing Participation Worldwide: Number of Surfers (in Thousands) for Select Countries
- Women & Girls: The New Wave of Surfers
- World Surfing Participation by Gender: 2019
- Technology Advancements to Spur Market Opportunities in Surfing Market
- Connected Surfboard
- Surf Forecasting Improves Participation
- 3D Printed Surfboard & VR Surfing
- Drone Technology for Surfing
- Finding the Perfect Wave Using Smart phones
- Hi-tech Surfing Gains Interest
- E-foil Technology
- New Range of Brigade Surfing Boards with LED Lights Takes Surfing Experience to New Levels
- Radical Surfboard Design Reflects Game-Changing Surfboard Innovation
- Surfboard Material Innovations and New Manufacturing Technologies to Spur Growth Opportunities
- Wooden Surfboards: An Eco-friendly and Sustainable Option
- Carbon Technology to Improve Surfboards
- Use of Carbon Fiber Waste in Surfboard-Making
- Modular Collapsible Surfboard
- Hybrid & Uniquely-Shaped Surfboards: A Mix of Improved Performance, Convenience & Fun
- Innovation in Fin Designs Aimed at Improving Control & Steering of Surfboard
- Electric Fin Surfboards
- Rising Interest in Surfboard Volume Metrics to Lend Traction for Market
- Aviation Inspires New Surfboard Designs
- Battery-driven Surfboard Powers Electric Surfing Market
- Widening Applications Beyond Leisure and Adventure
- Surfboards Find Use in Snowboarding
- Sensor-Powered Smart Surfboard Fins for Ocean Warming Monitoring
- High-Performance Surfboards Gain Popularity
- Rising Popularity of Adaptive Surfing to Present Long-term Growth Prospects
- Select Notable Adaptive Surfing Organizations Worldwide
- Emergence of Surfing Therapy for Treatment of Mental Illnesses: Potential Growth for Surfing Equipment
- Artificial Wave Pools and Surf Parks Bring Surfing to Landlocked Areas: Potential for Surf Apparel and Gear
- Prominent Technologies Used for Artificial Wave Generation
- Efforts to Develop Professional Surfing into Arena-based Sports Fan Development of Surf Parks
- Surf Tourism Dynamics Influence Demand for Surf Gear
- How Tourism & Leisure Industry Is Impacted by the Pandemic & What's the New Normal?
- Surf Tourism in Asian Countries Struggles due to Coronavirus Pandemic
- Health + Wellness + Surfing: The New Mantra for Success for Surf Tourism
- Luxury Surf Tourism: Potential for Long-term Growth
- Sustainable Practices Gain Prominence in Surfing Industry
- Eco-Friendly Surfboard Materials & Production Techniques
- Algae-based Surfboards Emerge as Sustainable Alternatives to Standard Surfboards
- Media Emerges as a Key Promotional Platform for Surfing Companies
- Online Channels Continue to Gain Traction
- Adoption of Do-It-Yourself (DIY) Surfboards Impedes Market Growth
- Key Market Issues Facing Surfing Market
- Seasonality & Topography
- Cost Pressure Increases with Entry of Newcomers
- Alternate Sports & Leisure Activities Cap Consumer Base
- Impact on Environment
- Associated Hazards
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
UNITED STATES
- V Shape Recovery in Sales Amidst the COVID-19 Pandemic
- Younger Demography Exhibits Increased Interest in Surfing
- Number of Participants in Surfing Activity in the US (2006-2019) (in '000s)
- Surfing Participation in the US: Percentage Breakdown by Casual Surfers and Core Surfers for 2019
- US Surfing Frequency: Percentage Breakdown of Surfer Population by Frequency of Surfing
- Number of Participants in Surfing Activity in Spring/Summer 2019 and 2020
- Surf Parks and Wave Pools Drive Opportunities for Surfing Equipment & Products ,
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/799g8t
