Amid the COVID-19 crisis and the looming economic recession, the Surfing market worldwide will grow by a projected US$745.2 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.1%. Surfing Boards, one of the segments analyzed and sized in this study, is forecast to grow at over 3% and reach a market size of US$2.6 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Surfing Boards market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 3.8% CAGR. Within Europe, Germany will add over US$44.2 Million to the region's size over the next 7 to 8 years. In addition, over US$31.3 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Surfing Boards segment will reach a market size of US$188 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Surfing market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 3.1% over the next couple of years and add approximately US$126.3 Million in terms of addressable market opportunity.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Competitors identified in this market include, among others,
- adidas AG
- AJW Surfboard
- Billabong International Limited
- Boardriders Inc.
- Body Glove
- Channel Islands Surfboards
- Globe International Ltd.
- Gul Watersports Ltd
- Harbour Surfboards
- Naish International
- Nike Inc.
- O`Neill, Inc.
- Rip Curl International Pty Ltd.
- Volcom LLC
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Surfing: A Popular Sporting & Leisure Activity
- Surfing Apparel: Focus Shifts to Surf Wear Combining Functionality & Fashion
- Surf Wear Makeover to Kindle Growth
- Surfing Offers a Lucrative Opportunity for Wetsuits Market
- Performance Surf Wear Continues to Gain Prominence
- Favorable Demographics to Boost Sales of Surfing Gear and Surf Wear
- Women & Girls - The New Wave of Surfers
- Surfboard Market - Rise in Leisure and Professional Surfing Drives Growth
- Wooden Surfboards - An Eco-friendly and Sustainable Alternative to Traditional Surfboards
- Brand Diversification to Open up New Markets
- Media - A Major Promotional Platform
- Surfing Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Wave Pools Bring Surfing to Landlocked Areas - Promising Growth in Store for Surf Apparel andSurf Gear Market
- A Glance at Select Development Initiatives Related to Artificial Wave Technology
- Efforts to Transform Professional Surfing into Arena-based Sports Fans Developmentof Surf Parks
- Fashion Influences in Men's Surf Wear
- Technology Advancements to Spur Growth Opportunities
- Carbon Technology to Improve Surfboards
- Hybrid & Uniquely-Shaped Surfboards: A Mix of Improved Performance, Convenience & Fun
- Innovation in Fin Designs Aimed at Improving Control & Steering of Surfboard
- Rising Interest in Surfboard Volume Metrics to Lend Traction for Market
- Aviation Inspires New Surfboard Design!
- Battery-driven Surfboard Powers Electric Surfing Market
- Quiksilver and AquaLung Develop Highline Airlift Safety Vest for Big Wave Riding
- Trinity Develops PRS Surfboards
- Apparel and Gear Companies Set to Benefit from the Surge in Surf Tourism
- Surfing-related Economic Development - A Boon for Vendors of Surfing Gear and Apparel
- Health + Wellness + Surfing: The New Mantra for Success
- Select Surf & Wellness Programs Worldwide
- Entertainment Industry - A Promoter of Surfing Culture
- Despite Competition from Online Channels, In-Stores Sales Hold Ground in Surfing Market
- Surf Forecasting Improves Participation
- Focus Shifts to Eco-Friendly Surfboard Materials & Production Techniques
- Sustainable Practices to Spur Growth
- Algae-based Surfboards Emerge as Sustainable Alternatives to Standard Surfboards
- Seasonality & Topography: A Characteristic of the Sport
- Cost Pressure Increases with Newcomers Entering the Sport
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
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