Surfboard Market Is Growing at a CAGR of 6.7% to Reach US$ 9.02 Billion by The End of 2033

The Surfboards Market was valued at US$ 4.42 billion in 2018 and is expected to expand by 6.0% annually in 2023 to reach US$ 4.71 billion. Additionally, growth is anticipated to pick up steam from 2023 to 2033 to a staggering 6.7% CAGR, hitting US$ 9.02 billion.

One of the key elements predicted to contribute significantly to the growth of the worldwide surfboard market over the projected period, according to Fact.MR, is the expanding trend of surf tourism. Additionally, the development of electric surfboards has gained a lot of momentum as people are increasingly choosing them over traditional surfboards. These surfboards enable people to surf without waves and offer high-water propulsion and improved torque.

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Important Market Factors Affecting the Growth of the Surfboard Industry

Design of Surfboards Must Continue to Change to Fuel Market Growth

The makers of surfboards are working nonstop to provide improved features for their products. Additionally, a lot of people who enjoy surfing favor creating their own surfboards. For instance, Australian surfboard shaper Daniel Thomson created his own surfboard, the Vanguard, which features straight rails, a noiseless form, and an angular tail.

In addition, surfers keep looking for surfing activities to indulge their demand for fun, excitement, and adventure. Additionally, the electrical surfboards let surfers enjoy the sport even when there are no waves.

Key Players:

• Gerflor SAS
• Tarkett SA
• Forbo
• Kiefer USA
• Bauwerk Boen Group
• EPI Group
• Horner Surfboard
• Signature Sports
• Robbins Sports Surfaces
• Aacer Flooring
• Other Market Players

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Regional Analysis:

What role will North America play in the global surfboard market?

Growing Popularity of Surfing to Accelerate Regional Market Growth

From 2023 to 2033, the North American surfboard market will expand at a CAGR of 6.6%.

North America is likely to continue to dominate the surfboard market during the analysis period and is predicted to have the quickest rate of growth, with over 48% of the market in 2022.

Long coasts throughout the United States and Canada, as well as the rising popularity of surfing among adventure seekers in the area, are all factors that have contributed to this expansion. Additionally, surfboard producers make advancements to appeal to a broad group of clients in the area.

Recent Development:

• Founded in 2013, Wainman Hawaii is an international water-sports startup based in Maui, Hawaii, with its main sales offices in Florida, Europe and production facilities all over the world. The company designs a wide variety of surfboards which include MAGNUM, GAMBLER, and Passport categories of the surfboards. All these categories provide enhanced features to the surfers.
• Established in 2015, Pushfins is a private label brand for surfing board fins. The company claims to create surfboard fins using bio-based epoxy resins, and waste material sourced from the surf and skateboard industries. The company manufactures all its products in Portland, USA.
• Flitefoil, a startup based in the US, is a manufacturer of electric hydrofoil technology-based surfboards, which provides a gearless propulsion system to the surfers, which is designed to be particularly robust and optimized for noise.

Key Segments Covered in the Industry Survey

• By Product Type:
  • Polyurethane Boards
  • Balsa Boards
  • Hollow Wooden Boards
  • Others
• By End-Use:
  • Entertainment
  • Sport Competition
  • Others

By Board Type :

• • Shortboard
  • Longboard

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