Surfing Equipment Market Size
| 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 Market Trends
Growing Interest Of People In Adventure Sports
The newest development in the tourism industry is adventure travel. Perhaps it's people's innate need to explore, or perhaps social media has made them more aware of possibilities available throughout the world. As a result, this has helped adventure sports gain popularity around the globe. The government is also keen on launching programs to promote adventurous activities like surfing in response to the public's growing interest in them, fostering the development of the market. For instance, in February 2021, the Morrison Government provided USD 9.7 million in additional funding to Surf Life Saving Australia (SLSA) as it continues to protect beachgoers and improve volunteer lifesaving skills. The Australian government announced that the budget would ensure local clubs have the ability to purchase vital equipment and medical supplies that they need to keep Australians safe on beaches while surfing. Such preventive measures taken up by various governments around the world are building trust to surf and increasing the number of surfers thus driving the market's growth. For instance, according to Clearinghouse, in 2021, there were approximately 724 thousand people who had surfed for sport or recreation in Australia which increased from 6000.2 thousand people in 2020. Such factors are expected to further boost the market's growth during the forecast period.
North America holds the Largest Share
In the North American region, majorly in the United States and Mexico, surfing is a well-liked pastime in coastal regions and, more recently, in the interior of the country due to the establishment of wave pools. It adds to a way of life and culture that millions of people live and are interested in. Additionally, the presence of perfect beach and wave pool locations in the region is further driving people to participate in the sport. For instance, according to surf-forecast.com, in 2022, California is the United States state with the most surfing locations, with 403 surf spots in total. This is perhaps unsurprising as the Golden State is well known for its surfing tradition, and the International Surfing Association has its headquarters there. The state with the second-most surf spots is Hawai'i, with a total of 267. Also, the region offers good climatic conditions that are better for all types of surfers like beginners, learners, and professionals. In general, California means up to 300 days of fantastic surfing conditions per year.
Moreover, with the growing trend and demand for the sport, the number of wave pools is increasing in the region. For instance, in October 2023, Surf Lakes established a New WaveGarden in America, with Austin-Texas announced as the first destination. With such factors increasing the demand for surfing equipment in the region, major players are launching more technological surfing equipment to grab the major market share. For instance, in June 2021, Wilmington-based Paper Plane Surf Co., launched its new 'Hello', SURF brand, which it claimed is a mid-level cost surfboard line that included eight different sizes, all geared toward the intro-level surfer.
Surfing Equipment Industry Overview
The surfing equipment market is fragmented owing to the presence of a large number of domestic as well as international players. Global players take advantage of their wide product portfolio and global presence. In the market for surfing equipment, small and medium-sized local businesses compete by providing a constrained product variety at considerably reduced rates to primarily target local clients. Global brands must contend with fierce competition from local competitors since smaller players have a stronger hold and greater reach in the regional marketplaces. Most major corporations are concentrating on mergers and acquisitions to strengthen their market positions. They are buying shares in local businesses to increase their geographic presence, diversify their product portfolios, and increase their client bases. A few major players in the market include Billabong International Limited, Boardriders (Quiksilver), Channel Islands Surfboards, Nike Inc., and Firewire Surfboards LLC.
Surfing Equipment Market Leaders
-
Billabong International Limited
-
Boardriders (Quiksilver)
-
Channel Islands Surfboards
-
Nike, Inc.
-
Firewire Surfboards, LLC
*Disclaimer: Major Players sorted in no particular order
Surfing Equipment Market News
- Mar 2023: Vans Surf launched Surf VR3 Collection, claiming that it is designed to bring together the relaxed vibes of surfing and Vans' continued commitment to more sustainably-focused clothing and footwear.
- Jan 2023: NASCAR partnered with action-sports brand Hurley in a clothing collaboration, launching men's and women's beach and surf apparel.
- Feb 2022: Swedish electric surfboard manufacturer Awake revealed the latest version of its range-topping model, the Rävik S 22. The board featured a 12-kW brushless motor and a resigned impeller for increased torque and acceleration.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Surfing boards
5.1.2 Clothing
5.1.3 Footwear
5.1.4 Protective guards & Accessories
5.2 By Distribution Channel
5.2.1 Online
5.2.2 Offline
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Billabong International Limited
6.3.2 Boardriders (Quiksilver)
6.3.3 Channel Islands Surfboards
6.3.4 Nike, Inc.
6.3.5 Firewire Surfboards, LLC
6.3.6 Rusty Surfboards
6.3.7 Rip Curl. Ltd.
6.3.8 Cannibal Surfboards
6.3.9 O'Neill
6.3.10 Vans Surf
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Frequently Asked Questions
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.
Which is the fastest growing region in Surfing Equipment Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Surfing Equipment Market?
In 2024, the North America accounts for the largest market share in Surfing Equipment Market.
What years does this Surfing Equipment Market cover?
The report covers the Surfing Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Surfing Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Surfing Equipment Industry Report
Statistics for the 2024 Surfing Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Surfing Equipment analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
