Market Size of Surfing Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.10 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Surfing Equipment Market Analysis
The global surfing equipment market is projected to register a CAGR of 4.1% over the next five years.
The rising popularity of surfing as a sport and the surge in interest in water sports in general, and surfing in particular, among adventure enthusiasts, particularly millennials, are surging the demand and sales of surfing equipment, such as gear, surfboards, accessories, and apparel. Additionally, aggressive promotional activities and campaigns launched by various surfing equipment players in the market are further attracting individuals toward surfing thus driving the market's growth. For instance, in May 2022, ROXY, a brand of Boardriders, Inc. that offers surfing equipment specifically for women launched a campaign called 'OMG' with an interesting surfing video and claimed that this OMG campaign becomes a celebration of women, fearless individuals, human beings pushing themselves to otherworldly levels. Moreover, the expansion of the tourism sector and the interest of people to try out different adventure sports aided in introducing the surfing sport to more new individuals and led to an enhanced demand for surfing equipment thereby supporting the market's growth.
Furthermore, various technological advancements being incorporated into latest launches of surfing equipment are assuring the safety, more enhanced experiences, and functionalities of the equipment are attracting consumers toward the sport. For instance, in July 2021, Volkswagen launched lAudi E-foil, an electric surfboard. The company claimed that the foil attached to the surfboard reduces the contact surface touching the water and hydrodynamic resistance thus resulting in a speed accelerating even in low wind conditions. Such innovations and developments happening in the market are expected to drive the market's growth during the forecast period.
Surfing Equipment Industry Segmentation
Different products like surfboards, rash guards, backpacks, and others to be used while participating in surfing are called surfing equipment.
The surfing equipment market is segmented by Product type (Surfing Boards, Clothing, Footwear, and Protective Guards and Accessories), Distribution channel (Online and Offline), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The market sizing has been done in value terms in USD for all the abovementioned segments.
| By Product Type | |
| Surfing boards | |
| Clothing | |
| Footwear | |
| Protective guards & Accessories |
| By Distribution Channel | |
| Online | |
| Offline |
| By Geography | |||||||||
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Surfing Equipment Market Size Summary
The surfing equipment market is experiencing a notable expansion, driven by the increasing popularity of surfing as a sport and the growing interest in water sports among adventure enthusiasts, particularly millennials. This surge in demand is further fueled by aggressive marketing campaigns from key players in the industry, which are attracting more individuals to the sport. The tourism sector's expansion and the introduction of surfing to new audiences have also contributed to the market's growth. Technological advancements in surfing equipment, such as safety enhancements and improved functionalities, are attracting consumers and enhancing their experiences. Innovations like electric surfboards are setting new standards in the market, promising to drive further growth in the coming years.
The market is characterized by a fragmented landscape with numerous domestic and international players competing for market share. Global brands leverage their extensive product portfolios and worldwide presence, while local businesses focus on offering competitive pricing and targeting regional markets. This dynamic has led to intense competition, with major corporations pursuing mergers and acquisitions to strengthen their positions and expand their geographic reach. The North American region, particularly the United States and Mexico, is a significant contributor to market growth, supported by favorable climatic conditions and the increasing number of wave pools. The presence of iconic surfing locations and the rise of adventure travel, supported by government initiatives, are further propelling the market forward.
Surfing Equipment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Surfing boards
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2.1.2 Clothing
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2.1.3 Footwear
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2.1.4 Protective guards & Accessories
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2.2 By Distribution Channel
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2.2.1 Online
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2.2.2 Offline
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Surfing Equipment Market Size FAQs
What is the current Surfing Equipment Market size?
The Surfing Equipment Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Surfing Equipment Market?
Billabong International Limited, Boardriders (Quiksilver), Channel Islands Surfboards, Nike, Inc. and Firewire Surfboards, LLC are the major companies operating in the Surfing Equipment Market.
