Surfboards: Key market research findings
- North America dominates the market geographically
- Longboards account for majority of the market’s revenue
- Key vendors – BeachBeat Surfboards, Channel Islands Surfboards, Firewire Surfboards, and GSI
Technavio’s market research analysts predict the global surfboard market to grow at a CAGR of more than 9% between 2016 and 2020. The increasing popularity of surfing activities is spurring demand for surfboards across the globe. The International Surfing Association (ISA) is introducing educational courses worldwide for the growth and development of surfing worldwide. Several coaching and instructing programs aimed at establishing global industry standards of quality, efficacy, and safety for surfing and stand-up paddleboard (SUP) coaches and instructors are also being introduced. At present, North America dominates the global surfboard market by accounting for a market share of almost 34%. The high personal disposable income, initiatives encouraging schools and universities to include outdoor sports activities in the curriculum, and an increasing number of surf competitions and training camps are some of the factors fueling growth in the surfboard market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the surfboard segments based on the product.
“Recently, there has been substantial experimentation with respect to surfboard designs. The manufacturers as well as surf enthusiasts are striving to improve the design and manufacture of surfboards. The use of new technologies and designs will prompt surfers to use highly-advanced surfboards that will enhance their performance, subsequently boosting growth in the market,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The longboard segment currently occupies more than 34% of the market share and is the dominant shareholder in the global surfboard market. Longboards are the traditional surfboards, which are 8-12 feet long and at least 2.5 inches thick and 20 inches wide. This segment of surfboards are increasingly popular owing to their large size and stability. Longboards are available with three fins, single fin, and one long fin and two short fins (2+1 fins).
The key vendors in the market include BeachBeat Surfboards, Channel Islands Surfboards, Firewire Surfboards, and GSI. This market is highly competitive as the key players are competing with each other to expand their market reach across the globe through new and upgraded product offerings. Competition in this market is expected to intensify during the forecast period as most vendors compete with each other on the basis of quality, technological innovations, product performance, efficiency in customer service, and pricing.
A more detailed analysis is available in the Technavio report, Global Surfboards Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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