FACTS AT A GLANCE
Editing: 7; Posted: March 2021
Management commitments: 1558
Companies: 124– Players covered include Billabong; Cannibalistic surfboards; Surfboards from the Channel Islands; Firewire Surfboards, LLC; JS Industries; Nike, Inc .; O’Neill; Quiksilver, Inc .; Rip Curl International Pty Ltd; Buy rusty surfboards and the like.
Blanket: All major geographies and key segments
Segments: Product (Shortboards, Longboards, Other Products); End use (recreational, professional)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global Surfboard Market To Reach $ 3.1 billion by 2026
Surf tourism is affected due to travel restrictions put in place across the world as well as the closure of restaurants, hostels and hotels. Regions such as Australia, the Maldives, Fiji, France, and Hawaii, among others, are popular destinations for surfing and these restrictions have had an impact on business in these regions. Surfers who preferred to travel during summers to surfing destinations have been hit by the closure of airports and beaches. In addition, several international surfing events have been postponed or canceled, further affecting the market. Amid COVID-19 crisis, global surfboard market is estimated at US $ 2.2 billion in 2020, is expected to reach a size of 3.1 billion US dollars by 2026, showing a CAGR of 5.8% over the analysis period. Shortboards, one of the segments analyzed in the report, are expected to register a CAGR of 6.1% to reach a market size of around US $ 2.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the longboards segment is expected to reach a CAGR of 5.3% for the next 7 years.
The US market is estimated at $ 1 billion in 2021, when Asia-Pacific is expected to reach $ 588.2 million by 2026
The surfboard market in the United States is estimated at US $ 1 billion in 2021. Asia Pacific is expected to reach a projected market size of US $ 588.2 million by 2026, with a CAGR of 6.5% over the analysis period. Other notable geographic markets include Japan and Europe, each expects to grow at a CAGR of 5.2% and 5.4% respectively during the analysis period. A notable trend in the surfboard market is the growing popularity of adaptive surfing, creating increased demand for the boards. People with disabilities learn adaptive surfing because it builds confidence and improves physical well-being and psychosocial and sensory skills. Surfing has also become a way for people with disabilities to fight against discrimination because it encourages teamwork and contributes to social inclusion. Adaptive surfing is also known to prevent and treat several pathologies in people with disabilities, resulting from stress and a sedentary lifestyle. Adapted surfing is currently encouraged in several countries.
Longboard segment to be reached $ 745.2 million by 2026
Longboards are thicker, wider and longer, typically 8 to 14 feet (2.4 to 4.3m). These boards have a much more rounded nose than a shortboard, which increases stability and buoyancy. Longboards are preferred by experienced surfers for their superior characteristics including noseriding and stability. In the global longboard segment, United States, Japan, Europe and Asia Pacific will lead to the estimated 5.3% CAGR for this segment. These regional markets representing a combined market size of US $ 510.4 million in 2020 will reach a projected size of US $ 733.9 million at the end of the analysis period, representing 94.1% of the global market value. United States will remain among the most dynamic in this group of regional markets and is expected to reach US $ 335.6 million by 2026. After
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