LONDON--(BUSINESS WIRE)--Technavio has been monitoring the surfboard market and it is poised to grow by USD 2.74 bn during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the surfboard market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
Continuous evolution in designs of surfboards is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 6% and the incremental growth of the market is anticipated to be $ 2.74 bn.
Who are the top players in the market?
Beachbeat Surfboards, Channel Island Surfboards, Firewire Surfboards LLC, Global Surf Industries, Hobie Cat Company, INFINITY SURF, NSP Surfboard, Quiksilver Inc., Rusty Surfboard, and Xanadu Surfboards, are some of the major market participants.
What is the key market driver?
The increasing popularity of adaptive surfing is one of the major factors driving the market.
How big is the North America market?
The North America region will contribute to 31% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Beachbeat Surfboards, Channel Island Surfboards, Firewire Surfboards LLC, Global Surf Industries, Hobie Cat Company, INFINITY SURF, NSP Surfboard, Quiksilver Inc., Rusty Surfboard, and Xanadu Surfboards are some of the major market participants. The increasing popularity of adaptive surfing will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this surfboard market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Surfboard Market 2020-2024: Segmentation
Surfboard Market is segmented as below:
- Recreational Users
- Professional Users
- Specialty Stores
- Department Stores
- Online Retail
- North America
- South America
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Surfboard Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The surfboard market report covers the following areas:
- Surfboard Market Size
- Surfboard Market Trends
- Surfboard Market Industry Analysis
This study identifies continuous evolution in designs of surfboards as one of the prime reasons driving the surfboard market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Surfboard Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist surfboard market growth during the next five years
- Estimation of the surfboard market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the surfboard market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of surfboard market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Shortboards - Market size and forecast 2019-2024
- Longboards - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End user placement
- Recreational users - Market size and forecast 2019-2024
- Professional users - Market size and forecast 2019-2024
- Market opportunity by End user
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel placement
- Specialty stores - Market size and forecast 2019-2024
- Department stores, hypermarkets, and supermarkets - Market size and forecast 2019-2024
- Online retail - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Distribution channel
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Beachbeat Surfboards
- Channel Island Surfboards
- Firewire Surfboards LLC
- Global Surf Industries
- Hobie Cat Company
- INFINITY SURF
- NSP Surfboard
- Quiksilver Inc.
- Rusty Surfboard
- Xanadu Surfboards
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.