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Surfing Equipment Market Explore Growth Of $3.9 Billion By 2025: Grand View Research, Inc.

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Surfing Equipment Market Explore Growth Of $3.9 Billion By 2025: Grand View Research, Inc.

September 30
19:22 2019
Surfing Equipment Market Explore Growth Of $3.9 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Rising interest in surfing among adventure enthusiasts, especially millennials, has been a crucial factor driving the demand for surfing equipment market.

According to a report,“Surfing Equipment Market Size, Share & Trends Analysis Report By Product (Surfing Boards, Apparel & Accessories), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global surfing equipment market size is expected to reach USD 3.9 billion by 2025, registering a CAGR of 3.3% over the forecast period. Market expansion is steered by growing interest in surfing among adventure enthusiasts, especially millennials. Appropriate equipment and gear is very crucial for surfing and choice of surfboards depend upon the type of wave: beach breaks, reef breaks, rivermouth waves, point breaks, etc.

Based on equipment, surfboards held the dominant share in 2018, with short boards accounting for more than 60.0% of the revenue share. Availability of customized boards based on the needs and preferences of surfers works in favor of this segment. The apparel & accessories segment, on the other hand, will exhibit the fastest growth over the forecast period. Offline distribution channels have been more popular among surfers, with most surfing destinations sporting temporary stalls and stores. Nevertheless, online channels are gaining prominence with a thriving e-commerce sector. This segment is likely to exhibit strong growth through 2025.

In April 2019, Naish launched a handheld inflatable wing that surfers can use to ride a wave. Called Wing-Surfer, the untethered equipment is a cross between a kiteboarding kite and a windsurfing sail and can be used on any stand-up paddleboard or foil board. It harnesses the power of the wind to help the surfer cruise over the waters. In February 2019, Plurato Sailfin developed the first Croatian electric hydrofoil surfboard. The 210 cm*74 cm board can gain a speed of 32 km/hour. Its 4-kilo Watt battery uses propeller propulsion system and can last for anything between 45 and 60 minutes. The surfboard can be used on rivers and lakes too. The hydrofoil technology keeps the board above water level, thereby resulting in less resistance and enabling greater speed.

Key players in the surfing equipment market include Billabong; Quiksilver, Inc.; Nike, Inc.; JS Industries; CHANNEL ISLANDS SURFBOARDS; Firewire Surfboards, LLC; Shop Rusty Surfboards; Rip Curl International Pty Ltd; CANNIBAL SURFBOARDS; and O’Neill. In August 2019, Sea of Seven collaborated with surfboard-shaper Xanadu Surf Designs to develop innovative surfboards, which could prove to be revolutionary in the industry. Industry participants are expected to utilize online portals as a key selling platform, which will increase the visibility of the surfing equipment, irrespective of geographical boundaries.

Key Takeaways from the report:

  • By equipment, surfing boards accounted for the dominant market share of 67.3% in 2018. This can be attributed to rising interest in surfing among adventure enthusiasts across the globe

  • The apparel & accessories segment is expected to exhibit the highest CAGR of 3.6% from 2019 to 2025. Growing awareness regarding taking necessary precautions during the sport is propelling segment growth

  • By distribution channel, although offline channels held the leading share, online channels are anticipated to register the highest CAGR of 4.3% from 2019 to 2025

  • Geographically, North America accounted for more than 45.0% of the global surfing equipment market revenue in 2018, attributed to surfing being a well-established sport across the country

  • Some of the key players are Billabong; Quiksilver, Inc.; Nike, Inc.; JS Industries; Firewire Surfboards, LLC; and Rip Curl International Pty Ltd. Product innovation is expected to remain a crucial strategy over the next few years.

U.S. surfing equipment market size, by equipment, 2015 - 2025 (USD Billion)

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Global surfing equipment market share, by distribution channel, 2018 (%)

Regional Insights

North America was the dominant regional segment in the market for surfing equipment in 2018, accounting for more than 45.0% of the global revenue that year. Presence of long coastlines in U.S. and Canada act as the main stimulus to market growth. The Chesterman Beach and Cox Bay Beach in British Columbia, the Mountain Wave in Alberta, Sandbanks Provincial Park along Lake Ontario, Kincardine Beach Station in Ontario, and Sturgeon Falls in Manitoba are some of the popular surfing destinations in Canada.

Some of the best spots for this sport in U.S. are San Clemente in California, Ocean City in New Jersey and Maryland, Virginia Beach in Virginia, and South Padre Island in Texas. Technological advancements in surfboards and establishment of surf parks with artificial wave technology are other factors that continue to boost the North America market.

Asia Pacific is expected to be the fastest growing market for surfing equipment, registering a CAGR of 3.9% from 2019 to 2025. While Australia and New Zealand have already been established as prominent surfing destinations in the region, growing inclination of adventure sports among youth in several other countries like Indonesia, Thailand, Vietnam, Cambodia, Maldives, and Japan has been a key factor driving the market.

Australia has some of the best waves for surfing and the activity is more than just a hobby here. With the World Surf League headquartered in the country, Australia hosts some of the most renowned surfing tournaments, including the Men’s Samsung Galaxy Championship Tour, the Rip Curl Pro at Bells Beach, the Quiksilver Pro Gold Coast in Queensland, and the Margaret River Pro in Western Australia. The country is also home to some of the leading surfboard and related equipment manufacturers in the world, including Billabong, Rip Curl, and Quicksilver.

Surfing Equipment Market Share Insights

Key players in the market include Billabong; Quiksilver, Inc.; Nike, Inc.; JS Industries; CHANNEL ISLANDS SURFBOARDS; Firewire Surfboards, LLC; Shop Rusty Surfboards; Rip Curl International Pty Ltd; CANNIBAL SURFBOARDS; and O’Neill. Companies have been experimenting with the material, shape, and size of surfing boards, and adding innovative features to the equipment to cater to evolving needs and stand out amidst competition.

Stewart Surfboards is one such company that has repeatedly introduced unique and customized surfboards. For instance, the Night Stalker surfboard is designed to allow surfers to do so even after sundown. Equipped with LED headlights and a plexiglass panel, this board lights the waves and lets surfers see through the panel. In cases of emergency in the waters, the lights flash to signal for help. The company also introduced the 4-Man surfboard, which, as the name suggests, is large enough to accommodate up to four grown men to surf together.

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
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Website: www.grandviewresearch.com/industry-analysis/surfing-equipment-market