Fact.MR has compiled a report on the surfboard market and published a report titled, "Surfboard Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2017 to 2026." The report covers all the important insights, market drivers, trends, challenges and future opportunities prevailing in the surfboard market.
Surfers continue to seek surfing sports to satiate the craving for adventure, fun and excitement. The electrically propelled design of surfboards allows surfers to enjoy surfing in the absence of waves. The rise of electric water sports, in particular, electric surfboard, is expected to redefine the surfing industry landscape. The superior characteristics provided by electric surfboards in terms of superior torque and higher water propulsion provides the surfers with better surfing experience over traditional surfboards, thereby driving the popularity of electric surfboards.
Sustainability in the surfboard industry is a topic at the top of the mind of all businesses involved in surfing. In a bid to establish sustainability standards in the market and meet the criteria of the ECOBOARD project, manufacturers in the surfboard market are introducing sustainable surfboards. For instance, FireWire, a leading surfboard provider in Australia has taken a significant move towards introducing eco-friendly surfboards. In addition, the manufacturer has replaced the toxic polyurethane foam with an eco-friendly alternative such as expanded polystyrene (EPS). Another leader in the surfing industry, Channel Islands has also introduced CI’s MINI – affordable yet sustainable boards.
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Surfing industry has witnessed a meteoric rise in the past two decades against the backdrop of growing demand for recreational sports, millennials’ preference for adventure sports and significant investments from stakeholders to introduce fun-filled and effective water sports equipment. A report by the World Tourism Organization adventure tourism which includes surfing is a rapidly growing subset of the lucrative tourism industry.
While the surfing industry is expanding at a rapid pace, sustainability issues continue to challenge the pace of surfing industry development, thereby deterring the growth of the surfboard market.
Surfers continue to prefer longboards for their superiority features such as stability and noseriding. Although heavier than shortboards, riding on longboards remains a vogue among surfers worldwide. However, demand for shortboards is estimated to rise in the future on the back of advantages of greater maneuverability over longboards in competitive events. Aware of these surfer preferences, manufacturers in the surfboards market continue to introduce innovative designs of longboards and shortboards.
In the past decade, surfboards industry has witnessed multiple introductions in the design of surfboards in terms of material, shape, utility and operations. These introductions are majorly driven by evolving surfer preferences wherein electronic surfboards is one of the prominent examples of such introductions. However, as the millennial and Gen Z population reaches maturity, their propensity for spending time on online surfing has negatively impacted the liking for adventure or outdoor sports activities. Youth sentiments as these are likely to impact their participation in surfing, thereby influencing the sales of surfboards in the future.
In the competitive landscape section of the surfboard market report, readers can find a dashboard view of the market players operating in the global landscape of the surfboard market. The section also delivers information on the company profiles that covers product offerings, market size, global presence and notable developments of the key surfboard market players.
Few of the profiled players in the surfboard market include 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.
Manufacturers in the surfboard market are leveraging multiple marketing approaches to increase sales revenue. The surfboard marketplace is also witnessing a significant number of acquisition activities among prominent players.
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.
In April 2018, Boardriders, Inc., a global action sports and lifestyle company completed the acquisition of Billabong International Limited, a leading provider of surfboards. The acquisition is aimed at establishing one of the leading action sports company with an extensive reach of e-commerce platform and retail stores.
In November 2018, BIC Group received an offer from Tahe Outdoors to acquire BIC Sports, BIC’s water sports subsidiary which is a pioneering player in the surfing, kayaking, junior racing dinghies and stand up paddleboarding.
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Surfboard Market Exhibits is expected to register Significant CAGR of 6.7%
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