Surfboard Market by Product (Shortboards, Longboards and Fish Boards), The Shortboards Market segment is anticipated to grow at a CAGR of 4.9% through 2033.
Industry: Consumer Goods
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP33312
The global surfboard market is projected to increase from a valuation of US$ 4.0 billion in 2024 to US$ 6.7 billion by the end of 2033, expanding at a CAGR of 5.9%.
A surfer balances on a sleek and elongated surfboard to glide over the ocean's swells. In the past, surfboards were constructed entirely from wood but modern-day surfboards are manufactured using materials such as foam, polyurethane, fiberglass, and epoxy. The growing popularity of surfing as a competitive and recreational sport has fueled the demand for surfboards, which come in a variety of shapes and sizes suited for surfers of varying skill levels.
Companies are leveraging strategic marketing efforts to expand their customer base and increase sales. They are doing this by entering into partnerships with surfing organizations, professionals, and celebrities through exclusive online communities that serve as a platform for businesses in the surfing industry. Specialty retail stores are becoming more prominent and are often associated with well-known brands.
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Surfboard Market Size (2022A) |
US$ 3.6 billion |
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Estimated Market Size (2024E) |
US$ 4.0 billion |
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Y-o-Y Market Growth (2021 to 2022) |
5.3% |
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Projected Market Value (2033F) |
US$ 6.7 billion |
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Value CAGR (2024 to 2033) |
5.9% |
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Collective Value Share: Top 3 Countries (2022) |
31% |
Expansion of the surfboard market is expected to be driven by the surging popularity of surfing tourism. Furthermore, a rise in the demand for electric surfboards, as people increasingly opt for them over traditional surfboards, is a major contributing factor to market growth. Electric surfboards offer a unique surfing experience with superior water propulsion & torque and the ability to surf on water without waves. They are designed with cutting-edge technology, such as CAD and CAM systems, to allow for customization according to users’ specifications.
Another factor that has opened up lucrative opportunities for surfboard manufacturers is the growing acceptance of adaptive surfing among individuals with disabilities. In response to this trend, leading companies are offering eco-friendly and sustainable surfboards to reduce the carbon footprint of manufacturing processes.
Overall, the global market for surfboards is anticipated to expand at a CAGR of 5.9% from 2023 to 2033.
Surfing, a well-known water sport, is gaining immense worldwide popularity. While it provides a fun and enjoyable experience, it also offers numerous health and fitness benefits. For example, paddling a surfboard into the ocean strengthens the arms, shoulders, and chest muscles.
One of the most significant health benefits of surfing is the improvement of the cardiovascular system. This includes the heart and the veins and arteries that transport blood to and from it. A stronger cardiovascular system can reduce fatigue, ease breathing difficulties, and potentially protect against heart attacks.
The growth of the surfing tourism industry is largely influenced by the health benefits associated with surfing.
The global surfing tourism industry is continuously expanding, and countries are focusing on it as a key strategy for growth. The rise of surfing tourism has a positive multiplier effect and can drive growth in primary, secondary, and tertiary sectors.
Governments are investing in infrastructure improvements to attract tourists from around the world and developing rural and remote areas to create job opportunities and income sources for residents. The tourism and hospitality sectors make significant contributions to the economic growth of nations, boosting their contribution to the country's GDP as more travelers participate.
However, the tourism industry can be volatile and unpredictable, so regional businesses in the industry strive to enhance their clients’ surfing experience by introducing various promotions, marketing strategies, and new forms of communication to attract modern-day surfers.
What are the Growth Opportunities for the United Kingdom Surfboard Market?
The United Kingdom has a significant market for surfing tourism, offering remarkable opportunities in Western Europe. Visitors flock to the U.K. to experience the thrill of surfing and riding the most formidable waves. The country boasts numerous picturesque surfing destinations, such as County Antrim, the Outer Hebrides, Cornwall, Berwickshire, and North Yorkshire, which draw surfing tourists from across Europe.
The U.K. is considered a lucrative market for surf tourism in Europe, with approximately 500,000 wave surfers. Germany and France have 420,000 and 450,000 surfers, respectively. Moreover, surfing is becoming increasingly popular among women in European countries.
The surfboard market in the United Kingdom is forecasted to grow at a CAGR of 5.6% from 2023 to 2033.
Why is the United States a Huge Market for Surfboards?
In the United States, several organizations provide various standardized certifications for beginners and early intermediate levels. These certification programs are designed to impart the knowledge, skills, and abilities of those seeking a scientific approach to teaching surfing and stand-up paddleboarding.
The courses, typically two to three days in length, feature a combination of theoretical and practical components, as well as interactive activities. This approach has proven successful in attracting a significant number of individuals to surfing, thus contributing to the growth of the market in the U.S.
The surfboard market in the United States is expected to increase at a CAGR of 4.7% through 2033.
What is the Scope of the Surfboard Market in India?
Water adventure tourism is rapidly growing in popularity in India, driven in part by advancements in technology and equipment that make water sports activities safer. As a result, more people are participating in water sports such as surfing, which is contributing to the expansion of the surfboard market in the country.
Professional water sports trainers are readily available to offer guidance and support in all aspects of water sports, including surfing. Additionally, the rise of social media marketing and advertising is boosting market growth in India.
The Indian surfboard market is projected to expand at a CAGR of 5.1% over the next ten years.
Which is the Most Popular Type of Surfboard?
Shortboards are expected to maintain their status as the most widely preferred board type in the global market due to their versatility aspect. Surfing enthusiasts of all skill levels prefer shortboards, which are more flexible than longboards.
The slender rails and pointed noses of these low-volume boards offer surfers superior maneuverability. In comparison to other board types, shortboards provide the user with greater control when navigating waves. Owing to these factors, the shortboards segment is anticipated to grow at a CAGR of 4.9% through 2033.
Which Material is Extensively Used for Surfboard Production?
In the late 1950s, surfers began exploring alternative materials for surfboard construction, and polyurethane (PU) foam quickly gained dominance in the market. Polyurethane boards are made with a PU core, wrapped in fiberglass, and often coated with polyester resin.
The most favored materials for the construction of hand-shaped surfboards are PU foam and poly resin, as they are reasonably priced and easy to work with. Hand-shaped surfboards offer a significant improvement over mass-produced boards, although not all surfboard shapers possess equal skill and expertise.
As a result, polyurethane boards accounted for 34.3% share of the global surfboard market in 2022.
Through Which Sales Channel are Most Surfboards Sold?
The growth of independent sports equipment retailers is expected to drive market expansion, as surfers prefer to physically examine products before making a purchase. This increases the demand for offline stores, and the industry continues to grow with the availability of various purchasing options and materials. Hence, offline sales of surfboards are projected to increase at a CAGR of 5.8% CAGR from 2024 to 2033.
Businesses in the surfboard industry are adopting innovative strategies to craft sophisticated boards and enhance surfers' experiences, which will benefit both their global market presence and competitiveness. Companies are focusing on advancements and creating cost-effective, efficient surfing equipment to drive their sales of surfboards. In response to intense competition, businesses are engaging in new product launches, partnerships, agreements, and mergers to increase their market share.
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Details |
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Forecast Period |
2024 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
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The global surfboard market reached a valuation of US$ 3.6 billion in 2022.
Worldwide sales of surfboards increased at a CAGR of 3.9% from 2018 to 2022.
Europe accounted for a leading share of the global market in 2022.
Key manufacturers of surfboards are Global Surf Industries, Gerflor SAS, Tarkett SA, Forbo, Beachbeat Surfboards, Kiefer USA, Bauwerk Boen Group, EPI Group, Channel Island Surfboards Inc., Horner Surfboard, Signature Sports, Robbins Sports Surfaces, Aacer Flooring, and Brusurf LLC.
The global market for surfboards is forecasted to expand at a CAGR of 5.9% from 2023 to 2033.
