The global Surfing Equipment Market size is anticipated to reach USD 5.47 billion by 2028, registering a CAGR of 4.4% over the forecast period, according to a new report by Grand View Research, Inc. The primary factor driving the market growth is the push by surfing equipment manufacturers, marketers, and associations to make surfing much more approachable than it has been in previous years. In addition, increased interest in surfing due to the growing focus of consumers on wellness and fitness will support the market growth. Over the years, surf tourism has had a considerable impact on the demand for surfing equipment and apparel.
In recent years, increased accessibility and
affordability have attracted a large number of surfers from many demographic
groups. Due to the use of wave pools for training, surfing has become more
accessible to people who do not live near a beach. Surfers who can access these
pools can train regardless of the weather and at any time of the day. Thus, an
increasing number of wave pools has increased the demand for surfing equipment.
People are spending an increasing amount of money on
surfing as the sport’s culture grows. Surfers in the United States spend more
than USD 3 billion on local surfing trips each year, according to Surf Park
Central. The average surfer in the United States owns four different surfboards
and spends 2.5 hours surfing per local season.
Related Press Release@ Surfing Equipment Market Report
Surfing Equipment Market Report
Highlights
- The surfing boards segment accounted for the largest revenue share
of more than 68% in 2020 and is projected to expand further at a steady
CAGR over the forecast period
- In recent years, surfing equipment has undergone different
technological advancements, which will drive the product demand
- For example, shark repellents have been introduced to the list of
crucial equipment used by surfers
- Surfers also like to completely cover their bodies to protect
themselves from the sun, which will drive the demand for apparel and
accessories
- The online distribution channel segment accounted for the second-largest
revenue share in 2020 and is estimated to ascend at the fastest CAGR of
more than 5% over the forecast period
- North America was the largest regional market in 2020; however,
Asia Pacific will register the fastest CAGR from 2021 to 2028
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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