The global Surfing Equipment Market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., 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.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/surfing-equipment-market
Further key findings from the report suggest:
- 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.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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