Manufacturers Tapping into Electric Water Sports amid Increasing Popularity of Electric Surfboards
Surfers continue to seek surfing sports to satiate the craving for adventure, fun and excitement. The electrically propelled design of surfboards allows surfers to enjoy surfing in the absence of waves.
The rise of electric water sports, in particular, electric surfboard, is expected to redefine the surfing industry landscape.
The superior characteristics provided by electric surfboards in terms of superior torque and higher water propulsion provides the surfers with better surfing experience over traditional surfboards, thereby driving the popularity of electric surfboards.
Development of Eco-Friendly Boards – A Trending Vendor Strategy
Sustainability in the surfboard industry is a topic at the top of the mind of all businesses involved in surfing.
In a bid to establish sustainability standards in the market and meet the criteria of the ECOBOARD project, manufacturers in the surfboard market are introducing sustainable surfboards.
For instance, FireWire, a leading surfboard provider in Australia has taken a significant move towards introducing eco-friendly surfboards.
In addition, the manufacturer has replaced the toxic polyurethane foam with an eco-friendly alternative such as expanded polystyrene (EPS). Another leader in the surfing industry, Channel Islands has also introduced CI’s MINI – affordable yet sustainable boards.
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A Steadily Rising Surfing Industry to Fuel Surfboard Sales, Sustainability Challenges Prevails
Surfing industry has witnessed a meteoric rise in the past two decades against the backdrop of growing demand for recreational sports, millennials’ preference for adventure sports and significant investments from stakeholders to introduce fun-filled and effective water sports equipment.
A report by the World Tourism Organization adventure tourism which includes surfing is a rapidly growing subset of the lucrative tourism industry.
While the surfing industry is expanding at a rapid pace, sustainability issues continue to challenge the pace of surfing industry development, thereby deterring the growth of the surfboard market.
Longboards and Shortboards Remain Highly Preferred Among Surfers
Surfers continue to prefer longboards for their superiority features such as stability and noseriding. Although heavier than shortboards, riding on longboards remains a vogue among surfers worldwide.
However, demand for shortboards is estimated to rise in the future on the back of advantages of greater maneuverability over longboards in competitive events.
Aware of these surfer preferences, manufacturers in the surfboards market continue to introduce innovative designs of longboards and shortboards.
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Millennial and Gen Z Preferences Changing the Surfboard Industry Landscape
In the past decade, surfboards industry has witnessed multiple introductions in the design of surfboards in terms of material, shape, utility and operations.
These introductions are majorly driven by evolving surfer preferences wherein electronic surfboards is one of the prominent examples of such introductions.
However, as the millennial and Gen Z population reaches maturity, their propensity for spending time on online surfing has negatively impacted the liking for adventure or outdoor sports activities.
Youth sentiments as these are likely to impact their participation in surfing, thereby influencing the sales of surfboards in the future.
In the competitive landscape section of the surfboard market report, readers can find a dashboard view of the market players operating in the global landscape of the surfboard market.
The section also delivers information on the company profiles that covers product offerings, market size, global presence and notable developments of the key surfboard market players.
Few of the profiled players in the surfboard market include
- Channel Islands Surfboards
- Firewire Surfboards
- Agit Global
- BIC Sports
- Billabong International
- Greco Surf
- Infinity Surfboards
- Keeper Sports Products
- Mt Woodgee Surfboards
- Yuan Sports
Manufacturers in the surfboard market are leveraging multiple marketing approaches to increase sales revenue.
The surfboard marketplace is also witnessing a significant number of acquisition activities among prominent players.
In September 2018, Channel Island Surfboard opened a new store in Santa Monica.
The company also initiated a partnership with Stab and Dane Reynolds to screen Channel’s new surf film which gave exposure to its 10 tripped out surfboards, including the latest Neck Beard 2 model.
In April 2018, Boardriders, Inc., a global action sports and lifestyle company completed the acquisition of Billabong International Limited, a leading provider of surfboards.
The acquisition is aimed at establishing one of the leading action sports company with an extensive reach of e-commerce platform and retail stores.
In November 2018, BIC Group received an offer from Tahe Outdoors to acquire BIC Sports, BIC’s water sports subsidiary which is a pioneering player in the surfing, kayaking, junior racing dinghies and stand up paddleboarding.
An Adaptive Approach to Modern-day Research Needs
A surfboard is an elongated platform used in the sport of surfing. The surfboard has a light-weight yet sturdy structure that supports an individual standing on it while riding the ocean wave.
Originally designed from wood, modern surfboards are made of polyurethane or polystyrene foam. Different types of surfboards including shortboard, longboard, funboards, foam board and others can be found in the surfboard market.
About the Report
Fact.MR has compiled a report on the surfboard market and published a report titled, “Surfboard Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2017 to 2026.”
The report covers all the important insights, market drivers, trends, challenges and future opportunities prevailing in the surfboard market.
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Additional Questions Answered
n addition to the aforementioned insights, the surfboard market report covers information on all the important market facets and answer some of the bemusing questions of the business professional interested in the surfboard market.
- Considering distinct demand from specific regions, which region will present good opportunities for the surfboard market during the forecast period?
- Which material of the surfboard is expected to witness high demand in surfboard market during the forecast period?
- Which sales channel is highly preferred by buyers for the purchase of surfboards in the surfboard market?
Surfboard Market Scope Of The Report
Fact.MR presents an all-inclusive forecast study on the global market for surfboards.
The report encompasses all major trends playing a fundamental role in growth of the global surfboard market, and highlights opportunities restraints and drivers that are likely to leave a significant effect on the market through the forecast period, 2017-2026.
This report imparts an insightful perspective on the future of the global market for surfboard across a range of parameters.
An executive summary at the beginning of the report provides a snapshot of the global surfboard market forecast, including the region-wise outlook coupled with relevant market numbers.
The executive summary also offers a forecast on other surfboard market segments such as products, sales channel, and buyer-type, in terms of market share, revenues, and CAGRs.
A chapter on overview, which trails the executive summary, provides a concise market introduction which includes a market taxonomy table and a formal definition of “surfboard”.
The overview chapter elucidates key nodes of the global surfboard market such as supply chain, cost structure, service provider lists, raw material sourcing strategies, and pricing analysis.
This chapter also issues a succinct study on the overall market approach of key players partaking in the global surfboard market, displaying their presence on an intensity map.
The report also delivers assessment on the global market for surfboard through a segmentation analysis in its following chapters.
The market has been branched on the basis of types of surfboards, their buyers, sales channels, and region.
These market segments have been scrutinized and analyzed based on a comparative study that involves revenues, market share, and Y-o-Y growth through the forecast period.
Geographically, the global market for surfboard has been segmented into North America, Europe, Asia-Pacific excluding Japan, Latin America, Japan, and Middle East & Africa.
A chapter provided in the report, which is dedicated to the global surfboard market’s competition landscape, issues analysis on key players underpinning the market expansion.
Imperative information on these market players along with novel strategies adopted by them for staying at the market’s forefront has been delivered in this chapter.
Companies included in the report are profiled individually by the report in terms of their product overview, company overview, key financials, and key developments.
A SWOT analysis has been offered on each company, providing detailed intelligence on their strengths, weaknesses, opportunities & threats dealt.
The chapter on competition landscape is priceless for readers of the report, owing to the provision of a deep understanding of the market players.
This concluding chapter of the report is also valuable for new market entrants for better understanding their competitors.
Analysts of Fact.MR adhere to a robust research methodology for analyzing the overall market size through historical data, public domain data, and primary responses.
Revenues from companies supporting expansion of the global surfboard market have been benchmarked for ascertaining the market size.
Macroeconomic factors such as the industry growth and GDP of regional segments have been considered for envisaging the market size during the forecast period.
Historical expansion of end-use industries, performance of the market players and current macroeconomic outlook are also considered for estimating the market trend forecast.
Data obtained is then been validated using effective tools by Fact.MR’s analysts for garnering qualitative and quantitative insights on the global surfboard market.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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