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.
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.
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.
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.
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.
Please Choose One of them.