What are the growth opportunities and trend analysis of Surfing Equipment Market?

Posted on 2022-09-06 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, Sept 06, 2022 — /EPR Network/ —

Surfing Equipment Industry Overview

The global surfing equipment market size was valued at USD 3.88 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028.

The product demand is being driven by growing consumer interest in surfing and aggressive growth tactics undertaken by surfing equipment producers. Leading producers, such as Quiksilver, Channel Islands Surfboards, and Firewire Surfboards, focus on product innovation, which is propelling the industry’s growth. For example, in July 2019, Billabong, an Australian firm, announced the debut of Furnace Graphene, a graphene-enhanced surfing clothing. The graphene-wrapped yarns in this product are cleverly constructed to trap and hold heat more effectively, providing warmth to the wearer.

Gather more insights about the market drivers, restrains and growth of the Global Surfing Equipment market

Businesses are implementing strategic marketing programs to grow their consumer base and increase sales. Partnerships with surfing clubs, professional surfers, and surfing superstars, for example, can help businesses get more clients. In addition, the exclusive online community provides a single platform for surf industry businesses. Prominent brands like Quiksilver/Roxy and Billabong represent specialty retail locations, which are increasingly gaining prominence.

Specialty stores are willing to pay a greater price for higher-quality goods, and they try to set themselves apart by marketing themselves as a family store that caters to young teenagers and their parents. Consumers with a lot of disposable cash prefer premium products; however, product features, functionality, and comfortability are important considerations, which may hamper the market growth.

Furthermore, it has been shown that the majority of consumers in low-income countries restrict their surfing products. Asia Pacific is expected to be the fastest-growing regional market owing to increased foreign tourist arrivals and tourist spending on water sports. Many well-known beaches in the region have become popular surfing locations, including Kuta Beach in Indonesia, Weligama Beach in Sri Lanka, and Pansea Beach, and Bai Dai Beach in Thailand.

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Surfing Equipment Market Segmentation

Grand View Research has segmented the global surfing equipment market on the basis of product, distribution channel, and region:

Surfing Equipment Product Outlook (Revenue, USD Million, 2016 – 2028)
- Surfing Boards
- Apparels & Accessories
Surfing Equipment Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
- Online
- Offline
Surfing Equipment Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa

Key Companies profiled:

Some prominent players in the global Surfing Equipment market include

Billabong
Quiksilver, Inc.
JS Industries
Channel Islands Surfboards
Nike, Inc.
Firewire Surfboards, LLC
Rusty Surfboards
Rip Curl. Ltd.
Cannibal Surfboards
O’Neill

Order a free sample PDF of the Surfing Equipment Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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