The Surfing Boards Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Surfing Boards Global Market Report 2024, The surfing boards market size has grown strongly in recent years. It will grow from $2.88 billion in 2023 to $3.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to the increasing popularity of water sports, rising disposable incomes, advancements in board materials, the expansion of surfing tourism, celebrity endorsements, environmental awareness, urbanization, and surfing facilities.
The surfing boards market size is expected to see strong growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rowing participation among women, health and wellness trends, online retail expansion, sustainable practices, emerging markets, and competitive surfing leagues. Major trends in the forecast period include smart board technology, electric surfboards, customization and personalization, biodegradable materials, augmented reality (AR) in training, hybrid board designs, and artificial intelligence (AI) in design.
The growing awareness of outdoor sports activities is expected to propel the growth of the surfing board market going forward. Outdoor sports activities encompass physical activities and sports that are conducted primarily outdoors, often in natural environments such as parks, forests, mountains, and bodies of water. The growing awareness of outdoor sports activities is increased due to their recognized health benefits, including physical fitness and mental well-being, and the social trend towards experiential activities promoting community and social interactions. Surfing board innovations cater to outdoor sports enthusiasts by enhancing performance, safety, and enjoyment, paralleling how travel management software simplifies and streamlines corporate travel while ensuring cost control, policy enforcement, and employee well-being. For instance, in June 2023, according to the Outdoor Participation Trend report by the Outdoor Industry Association (OIA), a US-based non-profit organization, the outdoor recreation participant base increased by 2.3% in 2022 to a record 168.1 million participants compared to 164.2 million in 2021, representing 55% of the U.S. population aged six and older. Therefore, the growing awareness of outdoor sports activities drives the surfing board market.
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The surfing boards market covered in this report is segmented –
1) By Product Type: Short Boards, Longboards, Fun Boards, Foam Board, Other Products
2) By Material: Wood, Fiberglass and Foam, Epoxy, Polyurethane, Polystyrene
3) By Distribution Channel: Online, Offline
4) By Application: Entertainment, Sports Competition, Other Applications
5) By End Users: Kids, Adults
Major companies operating in the surfing board market are focusing on developing sustainable products, such as electric surfboards, to meet increasing consumer demand for higher performance and innovative features. Electric surfboards enhance surfing experiences by providing motorized propulsion, enabling riders to achieve higher speeds and perform maneuvers effortlessly on the water. For instance, in September 2023, Cyrusher, a US-based company that manufactures electric bikes and electric surfboards, launched the Cyrusher Thunder electric surfboard. This high-performance board boasts a top speed of 44 mph (70 km/h) and a jet pump powered by a 5 kW continuous-rated and 10 kW peak-rated electric motor. The board measures 66 inches (1.68 meters) and has a waterproof 72V and 50Ah battery, providing 3.6 kWh capacity for up to 60 minutes of riding time. A full recharge takes two to three hours. It includes a wired remote control that doubles as a hand rope for safety, adjustable foot bindings for maneuverability, and weighs 18 kg (40 lb.) dry. Despite the added weight of the battery (22 kilograms or 48.5 lb.), it remains convenient for transport and use in water sports.
The surfing boards market report table of contents includes:
1. Executive Summary
2. Surfing boards market Characteristics
3. Surfing boards market Trends And Strategies
4. Surfing Boards Market – Macro Economic Scenario
5. Surfing boards market Size And Growth
6. Surfing boards market Segmentation
7. Regional And Country Analysis
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27. Global Surfing Boards Market Competitive Benchmarking
28. Global Surfing Boards Market Competitive Dashboard
29. Surfing Boards Market Future Outlook and Potential Analysis
30. Appendix
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