A Look into Surfing Equipment Industry……Deep Analysis…..


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.
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https://www.grandviewresearch.com/industry-analysis/surfing-equipment-market/request/rs4
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.
The global surfing equipment market size was valued at USD 3.1 billion in 2018 and will register a CAGR of 3.3% over the forecast period. Market growth is attributed to increasing popularity of water sports and adventure sports on a global level. Rising interest in surfing among adventure enthusiasts, especially millennials, has been a crucial factor driving the demand for and sales of surfing equipment, such as surfboards, gear, apparel, and accessories. The sport is increasingly popular in countries with long coastlines, such as Australia, New Zealand, parts of U.S. and Canada, Portugal, Indonesia, and Sri Lanka.
In many countries, surfing is more of a leisure activity, where being out in the open and enjoying the natural environment acts as a stress buster. However, there are various health benefits of the sport too: paddling in the waves improves cardiovascular fitness and also increases shoulder and back muscle strength, the push-up from being flat on the stomach to squatting before standing strengthens chest and arm muscles, and standing up on the board amidst the waves helps improve leg and core strength. Overall, it is an excellent test of endurance, balance, co-ordination, and fitness. Moreover, it has been known that surfing for 30-60 minutes can help burn 130-260 calories.
Emergence of surfing as a professional sport has also greatly benefited the market for various kinds of surfing gear, apparel, and accessories. The World Surf League (WSL) showcases some of the best professional surfers, both men and women, in numerous competitive formats. The Championship Tours, the Big Wave Tour, the Masters Championship, and the Longboard Championship are some of the well-known events coordinated by the WSL. In 2018, the WSL became one of the very few U.S.-based sports to mandate equal pay for men and women. The move has had a significant impact in encouraging interest and participation in the sport.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-surfing-equipment-market
Grand View Research has segmented the global surfing equipment market on the basis of product, distribution channel:
Surfing Equipment Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Surfing Boards
o    Short Boards
o    Long Boards
·         Apparel & Accessories
Surfing Equipment Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Online
·         Offline
Based on equipment, the surfing equipment market is bifurcated into surfing boards and apparel & accessories. The surfing boards segment held the dominant revenue share of over 65.0% in 2018 and will continue leading the market throughout the forecast period. Availability of a wide variety of boards based on specific requirements is a key factor driving this segment. A number of companies have also been offering customized surfing boards to cater to a wider audience. Innovation and integration of advanced technologies and features will significantly benefit this segment. Shortboards, used primarily by advanced surfers owing to greater performance and maneuverability, held a larger share compared to longboards.
The apparel & accessories segment is expected to witness the fastest growth in the market for surfing equipment from 2019 to 2025, registering a CAGR of 3.6%. The segment includes surf wear and apparel, such as board shorts and wetsuits. While a wet suit is the most practical and effective garment worn by surfers, board shorts are preferred during warmer weather conditions. Moreover, board shorts have gained popularity beyond the surfing community, emerging as a trendy beach wear item. Billabong, Quiksilver, and Rip Curl are some of the well-known surfing apparel brands.
About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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