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Surfing Equipment Market (Product - Surfboards, Apparel, Accessories, and Others; Distribution Channel - Offline, and Online): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : May, 2022

  • Rep Id : CGP00170

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on the surfing equipment market provides an in-depth analysis of segments and sub-segments in the global as well as regional surfing equipment market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional surfing equipment market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global surfing equipment market. According to the report, the global surfing equipment market is projected to grow at a CAGR of 5% over the forecast period of 2022-2028.

 

Market Insight

The revenue of the surfing equipment market in 2021 was approximately USD 4 billion which is expected to reach around USD 5 billion by 2028 growing with a CAGR of approx. 5%. The surfing equipment market is expected to grow at a good pace in the foretold period. Surfing is a popular water sport where the surfer balances his way through the head of a moving wave that takes the surfer to the shore. With the rise in popularity because of social media such as Instagram reels, people are getting more into outdoor activities. Surfing is a growing sport that has been included in the Olympic Games in Tokyo 2021. Everyone can agree that everything related to surf is pretty cool. So are surf competitions. They’re fun to watch, they connect us to our surfing inspirations and it’s pretty nice to see people killing it at what they do best. surfing is not just an adventure sport, it has a worldwide reputation. Some of the famous surfing events are World Surf League (WSL), 2021 ISA World Surfing Games, 2022 Billabong Pipeline Masters, and many more.

 

During the covid-19 pandemic situation, the whole world was compelled to stay at home as there were lockdowns all over the world. Due to this pandemic many industries were closed. One of the worst affected industries was the travel and tourism industry due to the travel restrictions and slump in demand among travelers. Additionally, the covid19 had severely affected the surfing equipment industry as all the beaches were closed which resulted in a drop in sales of surfing equipment in the market. The world of sports, including surfing, entered extreme and uncharted territory, in which all competitions were postponed and many beaches were closed, preventing any kind of surfing activity.

 

The major factors driving the growth of the global surfing equipment market are the rising popularity of water and adventure sports across the globe among millennials. The increasing adoption of adventurous sports by the millennials such as surfing is also driving the market. It is also boosting international tourism and with the use of the surfing equipment facilitates the movement of the individual's body against the moving wave, which in turn will accelerate the growth of the surfing equipment market. The rise in interest among adventure enthusiasts, especially millennials, further influences the market. Furthermore, product launches and innovations in the equipment extend profitable opportunities to the market players in the forecast period.

 

The segmentation of the surfing equipment market on the basis of regions is North America, Europe, Asia Pacific, Middle East, and Africa. The global surfing equipment market is dominated by North America. The popularity of water sports in North America is so huge because of its lengthy beaches, making it perfect for surfing, which in turn attracts more customers. The surfing boards category held a considerable share of the North American regional market and the trend is likely to continue during the forecast period. However, New Zealand and Australia are among the most popular destinations for surfing across the globe. This is projected to attract a large group of consumers to perform surfing, thereby, driving the market for surfing equipment.


Surfing Equipment Market

 

Segment Covered

The report on the global surfing equipment market covers segments such as product and distribution channels. On the basis of product, the sub-markets include surfboards, apparel, accessories, and others. On the basis of distribution channels, the sub-markets include offline and online.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Billabong, Quiksilver, Inc., JS Industries, Channel Islands Surfboards, Nike, Inc., Firewire Surfboards, LLC, Rusty Surfboards, Rip Curl. Ltd., Cannibal Surfboards, and O’Neill.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors driving and restraining this market's growth. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the surfing equipment market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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