Global Surfboard Market Evaluation Targets Advancement Anticipated until 2026
In September 2018, Channel Island Surfboard opened a new store in Santa Monica. The company also initiated a partnership with Stab and Dane Reynolds to screen Channel’s new surf film which gave exposure to its 10 tripped out surfboards, including the latest Neck Beard 2 model.
[USPRwire, Tue Dec 04 2018] Fact.MR foresees a high value growth for the global surfboard market in the near future. During the period, 2017-2026, the global market for surfboards is likely to reflect robust expansion at a CAGR of 6.7% in terms of value. Surfers from developed economies will increase their spending of surfboards to improve their surfing skills by adopting surfboards with advanced hydrodynamics. Through 2026, it has been estimated that majority of surfboards will be sold in the US and Canada, fostering North America’s dominance in the global surfboard market
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According to the report findings, the global surfboard market is pegged to expand at a CAGR of 6.7% in terms of value, during the period of assessment, 2017-2026. Designs of surfboards are expected to be transformed in the coming years. Manufacturers will be offering surfboards with advanced hydrodynamics, supported by the extensive use of lightweight, hybrid materials that improve the surfing capabilities of these boards. The popularity of surfboards in the US and Canada is pegged to bolster the dominance of North America in the global surfboard market. In the coming years, more than 40% of surfboards manufactured in the global market will be sold across the US and Canada coastlines.
Channel Islands Surfboards, GSI, Firewire Surfboards, BIC Sports, Agit Global, BruSurf, Billabong International, Hydenshapes, Greco Surf, Keeper Sports Products, Infinity Surfboards, NSP, Mt Woodgee Surfboards, Quiksilver, and Yuan Sports are observed as the prominent manufacturers of surfboard in the world. Their contribution to the global surfboard market has been extensively profiled in the report. Several manufacturers will be introducing advanced features in their offerings, which will include new electronic components, battery-powered maneuverability and smart speedometers.
Sales of Longboards and Shortboards to account for 56% Share of Global Market Value
In the future, participants of the surfing world will be preferring to shortboards over other types of surfboards. The advantage of using shortboards for greater maneuverability and in competitive events will drive their sales in the coming years. By 2026-end, over 35% of surfboards sold globally will be shortboards. It has been further estimated that the share of longboards in the global surfboard market value will size up to 21% by the end of the forecast period. Longboards may come at high costs and will be heavier than shortboards and other types of surfboards, but their stability characteristics and noseriding capabilities will keep them in vogue among surfers worldwide.
Institutional Buying to Reflect High Profitability
Surfboard manufacturers will be able to translate high profits when the institutional buying increases in the coming years. Surfing academies and private sports institutions tend to buy surfboards in bulk amounts. The high volume sales associated with institutional buying of surfboards will be driving the market’s growth to a considerable extent. Throughout the forecast period, almost every other surfboard manufactured in the world will be bought by such institutions.
Competition Tracking: Production of Electric Surfboards to Soar
Majority of surfboard manufacturers in the world are tapping the key market opportunity of equipping their products with electric components an electronic features. Battery-powered surfboards are being developed in European countries such as Germany, and their popularity is gaining traction over the past year. Companies are using carbon fiber materials to develop surfboard with ideal weights and hydrodynamics. Channel Islands Surfboards, Firewire Surfboards, GSI, Agit Global, BIC Sports, Billabong International, BruSurf, Greco Surf, Hydenshapes, Infinity Surfboards, Keeper Sports Products, Mt Woodgee Surfboards, NSP, Yuan Sports, and Quiksilver are expected to actively instrument the global surfboard production in the coming years.
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Table of Content:
- Global Business Outlook
- Global Surfboard Market - Executive Summary
2.1. Opportunity Assessment
- Global Surfboard Market Overview
3.1.1. Global Surfboard Market Taxonomy
3.1.2. Global Surfboard Market Definition
3.2. Global Surfboard Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Surfboard Market Y-o-Y Growth
3.3. Global Surfboard Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Pricing Analysis
3.7. Water Based Sports & Recreation: Facts & Figures
3.8. Top Surfing Destinations
3.9. Surfing Facilities – Global Mapping
3.10. Surfing Industry Overview
3.11. Consumer Sentiment Analysis
3.12. Surf Tourism
3.13. Key Marketing Strategies
3.14. Surfing Sponsorships Overview
3.15. Surfing Accidents Analysis
3.16. Surfing Competitions & Medals- Region Wise Analysis
3.17. Surfboard Market – Key Developments
3.18. Surfing Expenditure
3.19. Road to Surfing Industry Development
3.20. Wheel of Fortune
3.21. Product Life Cycle
3.22. Porter’s Analysis
3.23. PEST Analysis
3.24. Key Participants Market Presence (Intensity Map) By Region
- Global Surfboard Market Analysis and Forecast 2012-2026
4.1. Global Surfboard Market Size and Forecast By Product Type, 2012-2026
4.1.1. Shortboard Market Size and Forecast, 2012-2026
184.108.40.206. Revenue (US$ Mn) Comparison, By Region
220.127.116.11. Market Share Comparison, By Region
18.104.22.168. Y-o-Y growth Comparison, By Region
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