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.
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.
Gather more insights about the market drivers, restraints, and growth of the Global Surfing Equipment market
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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Hotels, Resorts, And Cruise Lines Market - The global hotels, resorts, and cruise lines market size was valued at USD 524.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030.
Surfing Apparel And Accessory Market - The global surfing apparel and accessory market size was valued at USD 1.23 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028.
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 Million, 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.
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