Global Surfboard Market Reveals Top Players, Ongoing Trends, Growth Factors and Forecast till 2026

Posted on 2018-06-12 by Mark Hub in Sports // 0 Comments

ROCKVILLE, US, 2018-Jun-12 — /EPR Network/ — Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of Surfboard Market. The study is titled as “Surfboard Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the Global Surfboard Market.

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With vast stretches of beaches becoming more accessible for recreational water sports such as surfing, the demand for key equipment such as surfboards continues to soar worldwide. Participation in surfing is gaining traction across the coastlines of South America, North America and Europe. The recreational pursuit of people towards surfing has instrumented a surging demand for surfboards across the globe. Fact.MR’s latest report envisages a robust growth for the global surfboard market in the foreseeable future.

According to the report findings, the global surfboard market is pegged to expand at a CAGR of 6.7% in terms of value, during the period of assessment, 2017-2026. Designs of surfboards are expected to be transformed in the coming years. Manufacturers will be offering surfboards with advanced hydrodynamics, supported by the extensive use of lightweight, hybrid materials that improve the surfing capabilities of these boards. The popularity of surfboards in the US and Canada is pegged to bolster the dominance of North America in the global surfboard market. In the coming years, more than 40% of surfboards manufactured in the global market will be sold across the US and Canada coastlines.

Sales of Longboards and Shortboards to account for 56% Share of Global Market Value

In the future, participants of the surfing world will be preferring to shortboards over other types of surfboards. The advantage of using shortboards for greater maneuverability and in competitive events will drive their sales in the coming years. By 2026-end, over 35% of surfboards sold globally will be shortboards. It has been further estimated that the share of longboards in the global surfboard market value will size up to 21% by the end of the forecast period. Longboards may come at high costs and will be heavier than shortboards and other types of surfboards, but their stability characteristics and noseriding capabilities will keep them in vogue among surfers worldwide.

Institutional Buying to Reflect High Profitability

Surfboard manufacturers will be able to translate high profits when the institutional buying increases in the coming years. Surfing academies and private sports institutions tend to buy surfboards in bulk amounts. The high volume sales associated with institutional buying of surfboards will be driving the market’s growth to a considerable extent. Throughout the forecast period, almost every other surfboard manufactured in the world will be bought by such institutions.

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Competition Tracking: Production of Electric Surfboards to Soar

Majority of surfboard manufacturers in the world are tapping the key market opportunity of equipping their products with electric components an electronic features. Battery-powered surfboards are being developed in European countries such as Germany, and their popularity is gaining traction over the past year. Companies are using carbon fiber materials to develop surfboard with ideal weights and hydrodynamics. 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 are expected to actively instrument the global surfboard production in the coming years.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Sports Market Research Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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