Global Surfing Equipment Market By Product (Surfing Boards, Apparel & Accessories, Surf Gear), Distribution Channel (Online, Offline), Application (Entertainment, Sports Competition, Other), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Surfing Equipment Market
Global surfing equipment market is set to witness a steady CAGR of 3.45% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising popularity of water sports and increasing popularity of surfing are the factor for the market growth.
Market Definition: Global Surfing Equipment Market
Surfing is a surface water sport where the surfer sits on the front or head of a moving wave which usually takes the surfer to the shore. Surfing equipment is used to do surfing. Some of the common surfing products are surfing boards, apparel, surf gear, and others. Surfing is more of a recreational activity, where it serves as a pressure buster to be out in the open and enjoy the natural world.
- Increasing awareness about the health benefits of surfing will drive the market growth
- Rising international tourism arrival and growing tourist expenditure is another factor accelerating the market growth
- Availability of different types of boards will also enhance the growth of this market
- Rising per capita income acts as a market driver
- Less number of surfing facilities will hamper the market growth
- Low participation rates will also restrict the growth of this market in the forecast period
- Dearth of water bodies and natural resources to support the sports; this factor also acts as a market restraint
Segmentation: Global Surfing Equipment Market
- Surfing Board
- Short Boards
- Long Boards
- Apparel & Accessories
- Surf Gear
By Distribution Channel
- Specialty Stores
- Department Stores
- Sports Competition
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2019, Lone Kauri announced the launch of their new range of eco-friendly wooden surfboards along with Red Leaf Surfboards. The main aim of the launch is to offer more affordable and competitive alternative to market-accessible toxic and petrochemically based surfboards. This new surfboards is manufactured using organic surf waxes, recyclable waste, natural sunscreens, recyclable surf leashes among others
- In August 2015, Oneon announced the launch of their two battery-powered boards Carver and Manta along with the company Bizintek Innova. The Carver design is powered by an integrated dual-core 440-Watt engine and an axial water pump. The more rectangular Manta model is operated by similar components, but has been designed to enable more casual surfers to cruise around quieter water surfaces like canals
Global surfing equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of surfing equipment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global surfing equipment market are Agit Global, Inc, Billabong, BruSurf, Keeper Sports Products., MT WOODGEE SURFBOARDS, SHANGHAI YUAN SPORTS CO., LTD, Quiksilver, kinaroad, Pro-Lite., Blue Sea Watersports., Toy Factory Surfboards., Shop Rusty Surfboards., XANADU SURF DESIGNS, SURFTECH, LLC, McTavish Surfboards, The Muskoka Surfboard Company, Woodpecker Natural Surfboards, INDI SURFBOARDS, O'Neill, Cannibal Surfboards/CoreVac Composites; Rip Curl; among others.
Research Methodology: Global Surfing Equipment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure