Global Surfing Equipment Market Will Reach at a Highest CAGR of 3.45% by 2026

Businesses can achieve practical and enduring results which are driven by accurate and timely research. Surfing Equipment Market report evaluates the growth rate and the market value based on market dynamics and growth inducing factors. It also provides the list of major competitors along with the strategic insights and analysis of the key factors influencing the FMCG industry. Global Surfing Equipment Market report provides in-depth market data and forecast by analyzing key business trends and identifying potential growth avenues across the entire value chain. This Surfing Equipment Market has been formed with the vigilant efforts of innovative, enthusiastic, knowledgeable and experienced team of analysts, researchers, industry experts, and forecasters.

Global surfing equipment market is set to witness a steady CAGR of 3.45% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017.

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Market Definition: Global Surfing Equipment Market

Surfing is a surface water sport where the surfer sits on the front or head of a moving wave which usually takes the surfer to the shore. Surfing equipment is used to do surfing. Some of the common surfing products are surfing boards, apparel, surf gear, and others. Surfing is more of a recreational activity, where it serves as a pressure buster to be out in the open and enjoy the natural world.

Market Drivers:

  • Increasing awareness about the health benefits of surfing will drive the market growth
  • Rising international tourism arrival and growing tourist expenditure is another factor accelerating the market growth
  • Availability of different types of boards will also enhance the growth of this market
  • Rising per capita income acts as a market driver

Market Restraints:

  • Less number of surfing facilities will hamper the market growth
  • Low participation rates will also restrict the growth of this market in the forecast period
  • Dearth of water bodies and natural resources to support the sports; this factor also acts as a market restraint

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Segmentation: Global Surfing Equipment Market

By Product

  • Surfing Board
    • Short Boards
    • Long Boards
  • Apparel & Accessories
  • Surf Gear

By Distribution Channel

  • Online
  • Offline
    • Specialty Stores
    • Department Stores
    • Hypermarkets
    • Supermarkets,

By Application

  • Entertainment
  • Sports Competition
  • Other

Key Developments in the Market:

  • In May 2019, Lone Kauri announced the launch of their new range of eco-friendly wooden surfboards along with Red Leaf Surfboards. The main aim of the launch is to offer more affordable and competitive alternative to market-accessible toxic and petrochemically based surfboards. This new surfboards is manufactured using organic surf waxes, recyclable waste, natural sunscreens, recyclable surf leashes among others
  • In August 2015, Oneon announced the launch of their two battery-powered boards Carver and Manta along with the company Bizintek Innova. The Carver design is powered by an integrated dual-core 440-Watt engine and an axial water pump. The more rectangular Manta model is operated by similar components, but has been designed to enable more casual surfers to cruise around quieter water surfaces like canals

Competitive Analysis:

Global surfing equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of surfing equipment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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