Surfing Board Market Primed to Grow On Back of Rising Number of Surfing Participants Globally
Surfing is a recreational activity that involves riding waves using a surfboard. Different types of surfboards are available in the market such as shortboards, longboards, hybrid boards, fish boards and funboards among others. Surfing boards provide stability and balance to surfers in various water conditions and waves. Rising interest of people in adventure sports such as surfing especially among millennial is expected to drive the demand for surfing boards.
The global surfing board market is estimated to be valued at US$ 3.17 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the surfing board market are Kallialay Original Series, Blu Surfboards, Nico Erni, Coral Surfboards, Alai Surfboards, Kove Kraft, ThunderMonkey, NSP, Haydenshapes, Firewire, FCS, Prolite, Yolo Kayaks, Zinka Sunscreen, Showa Denko K.K., BIC Sport, Surftech, and Channel Islands Surfboards. These players are focusing on new product launches and strategic collaborations to expand their market share.
Some of the key opportunities in the global Surfing Board Market Insights include increasing number of recreational surfing activities and surfing tourism especially in Asia Pacific and European countries. Growing popularity of water sports and emergence of innovative surfing board designs catering to beginners as well as professional surfers is also considered a major opportunity.
Key players are expanding their business globally especially in developing countries through collaborations with local players. They are also investing in R&D to develop lightweight, durable and high performance surfboards to cater to specific requirements of surfers based on regions and wave conditions.
Market Drivers
One of the major drivers for the surfing board market is the rising number of surfing participants globally. Growing interest of people in adventure sports and outdoor activities especially among millennials and generation Z is driving the demand. In addition, increasing number of recreational surfing programs and camps are encouraging more people to try out surfing.
Market Restraints
High initial costs associated with surfing equipment including boards, wetsuits and other accessories can limit the market growth to some extent. Surfing boards need to be customized based on individual requirements which increases prices. Unpredictable weather conditions in some regions also act as a restraint as it affects surfing activities. Lack of surfing infrastructure and awareness in many countries is another challenge for the global market.
Segment Analysis
The Surfing Board Companies comprises of shortboards, longboards, funboards, hybrid/fish, and stand up paddleboard sub-segments. The hybrid/fish segment dominates the market and is expected to continue its dominance during the forecast period. Hybrid/fish boards are suitable for most surfing conditions and allow riders to catch waves easily in comparison to shortboards and longboards. These boards provide maneuverability and stability for beginners as well as experienced riders, making them a preferred choice for recreational and competitive surfing.
Global Analysis
North America dominates the global surfing board market currently. The region is an early adopter of new surfing equipment and hosts major surfing championships and leagues. States like California and Hawaii have ideal beach conditions for surfing throughout the year. This has attracted many surfing enthusiasts and professional surfers to the region over the decades, driving high sales. The Asia Pacific region is expected to be the fastest growing market during the forecast period. Countries like Indonesia, Australia, and Japan have emerging surfing cultures. Increasing participation from teenage and women population is expected to fuel market growth in the region. Emerging economic powers like China and India also have vast coastlines conducive to surfing, representing untapped opportunities.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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