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The Global Surfboard Market is estimated to grow by USD 3.66 billion, accelerating at a CAGR of 7.74% between 2022 and 2027. The Global Surfboard Market thrives on diverse factors, notably the promotion of recreational outdoor sports, which contribute significantly to the development of individuals with disabilities. Furthermore, the market benefits from the global hosting of surfing competitions, where surfers showcase their skills, compete for prizes, and garner recognition. These events not only stimulate market growth but also highlight the accessibility and inclusivity of the sport, driving demand for surfboards worldwide. This market analysis and report includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
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The market share growth by the shortboards segment will be significant during the forecast period. Shortboards are designed especially for advanced-level surfers. They are 5-7 feet in length and 18-22 inches in width. They are made using less foam and glass, which makes them lightweight. This also helps them offer high performance and maneuverability. Shortboards are used when the waves are fast, steep, and powerful, all of which require fast and maneuverable surfboards like shortboards.
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The shortboards segment showed a gradual increase in market share from USD 2.97 billion in 2017 and continued to grow by 2021. The US (especially in Hawaii), Brazil, Australia, France, and England are some of the countries where shortboards are used, mostly by professional surfers. However, since shortboards are lightweight, they have a lower lifespan than other surfboards. In addition, maneuvering them to ride waves can be difficult for beginners or older surfers. Such factors will increase the segment's growth during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In 2022, North America led the global surfboard market in value, driven by rising disposable income and interest in transformative experiences. Over 54% of Americans engaged in outdoor activities in 2021, with a significant increase in surfing participation. Women's involvement in water sports, including surfing, has grown, with events like the Nissan Supergirl Surf Pro in California gaining popularity. The US, a major market contributor, faces challenges from the Ring of Fire's weather extremes, prompting innovation like thermal wetsuits. Canada, a growing water sports market, benefits from surf tourism and increasing female participation. Diversification in water sports is an emerging trend.
The market, influenced by the thriving surfing and water sport industries, sees a significant presence of surfboard manufacturers catering to the needs of professional and recreational surfers. With the support of surfing agencies like the International Surfing Association (ISA), and driven by tourism and the preferences of eco-conscious consumers, the market witnesses a surge in demand for sustainable products. Technological advancements and innovations in board design and materials, including polyurethane and Balsa wood, offer a diverse range of surfboard options, from longboards to shortboards, fish boards, and gun boards, available through various channels such as hypermarkets, specialty stores, and online retail, to meet the diverse application needs of both recreational and professional surfers.
Market growth is driven by continuous design evolution. Continuous design evolution drives market growth in the global surfboard industry. Surfboard manufacturers are enhancing features and collaborating with enthusiasts like Daniel Thomson to create innovative models such as the Vanguard, known for its noseless craft and streamlined rails. These designs prioritize reducing weight, and drag, and increasing speed in the water. In addition to traditional surfing, the market is witnessing the emergence of electric water sports, particularly electric surfboards, reshaping the industry landscape. Advanced technologies integrated into highly sophisticated surfboards attract both professional and recreational surfers, contributing to increased sales across various retail channels, including hypermarkets, specialty stores, and online platforms.
The rise in do-it-yourself (DIY) surfboards, particularly those made from recycled materials like plastic bottles, poses a significant challenge to market growth. Initiatives like The ECOBOARD Project by Sustainable Surf encourage the creation of sustainable DIY surfboards. Founders Carolina Scorsin and Jairo Lumertz promote eco-friendly boards, especially in Brazilian schools, teaching children about surfing and waste reduction. These plastic bottle-made surfboards are substantially more affordable, around USD 100, compared to traditional options from major market players, posing a potential threat to global surfboard manufacturers.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agit Global Inc.- The company offers surfboards such as Wavestorm and Storm Blade. Also, this segment focuses on designing and manufacturing plastic and thermally formed products, foam, and plastic sporting goods.
This market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Global Surfboard Market is influenced by various factors, including Facts and Factors driving its growth. While there are certain restraints/challenges to contend with, the market continues to evolve to meet demands and capitalize on emerging opportunities. With a projection period in sight, the market anticipates sustained growth. Traditional surfboards, characterized by a narrow plank design, have been used by users to ride oceanic waves, a practice known as "He'e nalu" in the Hawaiian language. These boards, often made from wood sourced from locally found trees like Koa, have seen a resurgence in popularity alongside the rise of modern-day surfboards. These modern-day planks, typically constructed with materials like polystyrene, polyurethane, and fiberglass cloth, offer enhanced maneuverability and direction stability. With innovations in shape and material, the surfboard market continues to thrive, appealing to surfers of all ages and skill levels.
The market is driven by various factors, including the increasing popularity of surfing and the growing demand for surfboards. Traditional older generation surfboards, often made from locally sourced raw materials like wood, have witnessed renewed interest alongside modern innovations. These innovations include the use of advanced materials such as epoxy resin and polyester, resulting in light surfboards that are easily maneuvered. The shape of surfboards has evolved over time, with designs ranging from the classic V shape to contemporary longboards and fish boards. As interest in surfing continues to rise, supported by technological advancements and a growing community of recreational surfers, the market presents numerous growth opportunities. With a segmentation analysis encompassing hypermarkets & supermarkets, online retail, and specialty stores, the market caters to a diverse range of end-users, including both amateurs and professionals. Additionally, there is a growing trend towards sustainable products, driven by eco-conscious consumers and technological innovations in board design.
The market continues to flourish, buoyed by the enduring popularity of surfing and water sports worldwide. Surfers, whether professional or recreational, rely on a diverse array of boards tailored to their preferences and skills. Manufacturers, ranging from small specialty shops to large-scale surfboard manufacturers, cater to this demand through various distribution channels, including hypermarkets & supermarkets, specialty stores, and online retail platforms. Technological advancements and eco-conscious consumer trends drive innovation in board design and materials, with a focus on sustainability. From classic longboards and shortboards to specialized fish boards and gun boards, each board's design and construction, often utilizing materials like polyurethane and balsa wood, are optimized for specific applications, whether recreational or professional surfing. The industry's growth is further supported by organizations like the International Surfing Association (ISA) and the rise of surfing tourism, making it an exciting time for surfers and manufacturers alike.
Surfboard Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.74% |
Market growth 2023-2027 |
USD 3.66 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.25 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, Australia, Germany, France, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agit Global Inc., Beachbeat Surfboards, Catch Surfboard Co LLC, Channel Island Surfboards, Classic Malibu Pty Ltd., Derek Girven Surfboards, Firewire Surfboards LLC, Graham Smith Surfboards, Haydenshapes Pty Ltd., Hurricane Surf SARL, Hutchison Handcrafted Surfboards, Mami Wata, Matt Adams Surfboards, Ride Awake AB, Roland Surfboards, Rusty Surfboards Inc., Safari Surfboards, Shred and Speed Mfg., Tahe Kayaks OU, and WaveShark Ltd. |
Market dynamics |
Parent market analysis, Market trends, growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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