Surfing Equipment Market Size, Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Surfing Equipment Market


The global surfing equipment market size was valued at USD 3.1 billion in 2018 and will register a CAGR of 3.3% over the forecast period. Market growth is attributed to increasing popularity of water sports and adventure sports on a global level. Rising interest in surfing among adventure enthusiasts, especially millennials, has been a crucial factor driving the demand for and sales of surfing equipment, such as surfboards, gear, apparel, and accessories. The sport is increasingly popular in countries with long coastlines, such as Australia, New Zealand, parts of U.S. and Canada, Portugal, Indonesia, and Sri Lanka.

In many countries, surfing is more of a leisure activity, where being out in the open and enjoying the natural environment acts as a stress buster. However, there are various health benefits of the sport too: paddling in the waves improves cardiovascular fitness and also increases shoulder and back muscle strength, the push-up from being flat on the stomach to squatting before standing strengthens chest and arm muscles, and standing up on the board amidst the waves helps improve leg and core strength. Overall, it is an excellent test of endurance, balance, co-ordination, and fitness. Moreover, it has been known that surfing for 30-60 minutes can help burn 130-260 calories.

Emergence of surfing as a professional sport has also greatly benefited the market for various kinds of surfing gear, apparel, and accessories. The World Surf League (WSL) showcases some of the best professional surfers, both men and women, in numerous competitive formats. The Championship Tours, the Big Wave Tour, the Masters Championship, and the Longboard Championship are some of the well-known events coordinated by the WSL. In 2018, the WSL became one of the very few U.S.-based sports to mandate equal pay for men and women. The move has had a significant impact in encouraging interest and participation in the sport.

With growing interest in surfing as a leisure activity and competitive sport, competition has been high among players. Surfboard manufacturers have been focusing on innovation in terms of equipment, material, shape, features, and functions to stay ahead of the rest. For instance, hybrid surfboards have been gaining prominence among surfers and companies alike. A general hybrid is a combination of a fish surfboard and a shortboard. This brings together beneficial features of both kinds, combining the stability, ease, and speed of a fish surfboard and the maneuverability and high performance of a shortboard. Haydenshapes Surfboards Hypto Krypto is one such hybrid, which is a perfect balance of traditional and modern performance.

Product Insights of Surfing Equipment Market

Based on equipment, the surfing equipment market is bifurcated into surfing boards and apparel & accessories. The surfing boards segment held the dominant revenue share of over 65.0% in 2018 and will continue leading the market throughout the forecast period. Availability of a wide variety of boards based on specific requirements is a key factor driving this segment. A number of companies have also been offering customized surfing boards to cater to a wider audience. Innovation and integration of advanced technologies and features will significantly benefit this segment. Shortboards, used primarily by advanced surfers owing to greater performance and maneuverability, held a larger share compared to longboards.

The apparel & accessories segment is expected to witness the fastest growth in the market for surfing equipment from 2019 to 2025, registering a CAGR of 3.6%. The segment includes surf wear and apparel, such as board shorts and wetsuits. While a wet suit is the most practical and effective garment worn by surfers, board shorts are preferred during warmer weather conditions. Moreover, board shorts have gained popularity beyond the surfing community, emerging as a trendy beach wear item. Billabong, Quiksilver, and Rip Curl are some of the well-known surfing apparel brands.

Distribution Channel Insights

On the basis of distribution channel, the offline segment accounted for the majority revenue share of more than 85.0% in the global surfing equipment market in 2018. Easy access and instant availability are some of the most prominent factors compelling consumers to choose offline channels to purchase surfing equipment, gear, and apparel. Most surfing destinations have a number of temporary stalls or brick and mortar stores that sell surfboards, accessories, and apparel. This encourages impulsive buying among consumers, especially tourists. Furthermore, people prefer buying these products after proper physical verification to make sure their requirements are met.

The online distribution channel is expected to exhibit a CAGR of 4.3% from 2019 to 2025, emerging as the fastest growing segment in the global market. These digital channels have become a convenient means to compare, choose, and/or purchase surfing boards, equipment, gear, and apparel. In addition to offering numerous payment method options, these sites are preferred as they offer home delivery and numerous discounts and sales throughout the year. E-commerce sites provide consumers a wide variety of options for surfing equipment and gear to suit specific sizes, styles, dimensions, and requirements.

Regional Insights of Surfing Equipment Market

North America was the dominant regional segment in the market for surfing equipment in 2018, accounting for more than 45.0% of the global revenue that year. Presence of long coastlines in U.S. and Canada act as the main stimulus to market growth. The Chesterman Beach and Cox Bay Beach in British Columbia, the Mountain Wave in Alberta, Sandbanks Provincial Park along Lake Ontario, Kincardine Beach Station in Ontario, and Sturgeon Falls in Manitoba are some of the popular surfing destinations in Canada.

Some of the best spots for this sport in U.S. are San Clemente in California, Ocean City in New Jersey and Maryland, Virginia Beach in Virginia, and South Padre Island in Texas. Technological advancements in surfboards and establishment of surf parks with artificial wave technology are other factors that continue to boost the North America market.

Asia Pacific is expected to be the fastest growing market for surfing equipment, registering a CAGR of 3.9% from 2019 to 2025. While Australia and New Zealand have already been established as prominent surfing destinations in the region, growing inclination of adventure sports among youth in several other countries like Indonesia, Thailand, Vietnam, Cambodia, Maldives, and Japan has been a key factor driving the market.

Australia has some of the best waves for surfing and the activity is more than just a hobby here. With the World Surf League headquartered in the country, Australia hosts some of the most renowned surfing tournaments, including the Mens Samsung Galaxy Championship Tour, the Rip Curl Pro at Bells Beach, the Quiksilver Pro Gold Coast in Queensland, and the Margaret River Pro in Western Australia. The country is also home to some of the leading surfboard and related equipment manufacturers in the world, including Billabong, Rip Curl, and Quicksilver.

Market Share Insights of Surfing Equipment Market

Key players in the market include Billabong; Quiksilver, Inc.; Nike, Inc.; JS Industries; CHANNEL ISLANDS SURFBOARDS; Firewire Surfboards, LLC; Shop Rusty Surfboards; Rip Curl International Pty Ltd; CANNIBAL SURFBOARDS; and ONeill. Companies have been experimenting with the material, shape, and size of surfing boards, and adding innovative features to the equipment to cater to evolving needs and stand out amidst competition.

Stewart Surfboards is one such company that has repeatedly introduced unique and customized surfboards. For instance, the Night Stalker surfboard is designed to allow surfers to do so even after sundown. Equipped with LED headlights and a plexiglass panel, this board lights the waves and lets surfers see through the panel. In cases of emergency in the waters, the lights flash to signal for help. The company also introduced the 4-Man surfboard, which, as the name suggests, is large enough to accommodate up to four grown men to surf together.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Surfing Equipment Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global surfing equipment market on the basis of product, distribution channel, and region:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  
Surfing Boards
  
Short Boards
  
Long Boards
  
Apparel & Accessories

Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)

  
Online
  
Offline