Global Market for Surfing,Water sports equipment market,Surfboards,Surf Wear market,Surf Brands Global : Ken Research

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• Global Surfing Equipment Market Research Report
  Ken Research

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• The market includes two major entities namely
  manufacturers and distributors as the regional
  supplier of surfing equipment products. The
  surfing equipments include surf boards,
  protective gear that includes wet suits and shoes
  and accessories including fins, leash, ear plugs
  and bags.
• The surfboard market showcased a moderate growth
  at a CAGR of in terms of consumer expenditure.
  The market growth was largely supported by the
  factors such as rising interest in the sport as a
  leisure and sporting activity, easy accessibility
  to the sport through surf parks and surf pools
  and technological innovations that are highly
  focused on developing sophisticated surf-wear and
  surf-gear. Teenagers and people in their early
  twenties are the major customer segment for the
  sport and its equipments. Quiksilver has teamed
  up with Pacsafe, a company best known for
  designing an array of products for adventure
  travelers.
• Americas accounted for the largest share in the
  contribution to the surfing equipment market as a
  region followed by Europe, APAC and MEA. In
  Americas, US had the highest participation rates
  owing to the popularity of the sport and plenty
  of surfing destinations.

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• In the APAC region, Australia has posed the
  fastest growth in the surfing equipment market at
  a CAGR of owing to the rising domestic and
  international tourism, increased spending on
  family vacations, several attractive national
  surfing reserves in the country and the
  popularity of beach and surf tourism and
  recreation. Between the year 2010 and 2014, the
  number of Aussies participating in surfing
  increased from to .
• The most important equipment necessary for the
  sport is a surfboard and the use of the same does
  not require much technical training that attracts
  people to be a part of the sport.
• The rising participation from women in the sport
  has offered a lucrative growth opportunity for
  the surf wear market during the year 2012-2017.
• Surf boards accounted for a share of in the
  surfing equipment market as of 2017.

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• Traditional surf boards have been made of
  polyurethane (PU) foam that is then covered with
  polyester resin from the past 50 years. The only
  change that can be observed in the past decade is
  the use of epoxy. In this, an expanded
  polystyrene (EPS) core is covered with an epoxy
  resin, a harder material previously used in boat
  building. Surf boards are available in the market
  for prices starting from USD 700 and the prices
  may go beyond USD 1,500.
• Surfing Gear and Accessories hold a share of
  in the surfing equipment market as of the year
  2017. Surfing gear and accessories includes
  wetsuits, shoes, helmets, fins, leash, ear plugs,
  bags and others related accessories. Wetsuit is
  the most essential surfing gear. The price of a
  surfing wetsuit starts from below USD 150 and may
  go beyond USD 300. Similarly, the price of a vest
  starts below USD 50 and go beyond USD 100. The
  gear and accessories required for surfing are not
  highly priced which made the segment to hold a
  lesser share.

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• In the year 2017, Americas accounted for the
  major share of in terms of consumer
  expenditure in the surfing equipment market. The
  region is highly popular for the presence of
  numerous water bodies. In the region the country
  that accounts for the largest share is the US. In
  2017, Europe accounted for the second largest
  share in the surfing equipment market. It held a
  share of in the same year. The region has a
  mix of both regular and occasional surfers. The
  region possesses many tourist destinations.
• APAC region accounted for a share of only in
  the surfing equipment market and the major
  contributors for the same are Australia, South
  Korea and New Zealand for the year 2017. This
  region has accounted for a lower share in the
  market due to the lack of enthusiasts and
  established water bodies suitable for the sport.
• As of 2017, the MEA region accounted for a share
  of in the surfing equipment market in terms of
  consumer expenditure. Americas has been the
  largest manufacturer of surf equipments and a
  host to the largest consumer base in the world.
  It exports premium, mediocre and low quality
  (thus cheaply priced) products and raw material
  to every other region especially APAC.

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• The market is highly fragmented with more than
  major and niche players. There are global
  manufacturers operating in the market. This
  market is highly competitive as the key players
  are competing with each other to expand their
  market reach across the globe through new and
  upgraded product offerings. The market is
  strongly established in the region Americas and
  Europe due to presence of high degree of
  professionalism and developed infrastructure.
  APAC MEA are emerging region in terms of
  professionalism product expertise. Surfing as a
  sport is gaining popularity every year. The
  growing interest among the people, easy access to
  the sport through surf parks and pools along with
  technology advancements in surfboards are
  strongly supporting growth in the market. Such a
  growth in the market is attracting many players
  into the market. Entering market is easy due to
  low cost of establishment, less number of players
  operating and low regulations. However, gaining a
  substantial market share among the popular and
  widespread brands is difficult. Quicksilver,
  Billabong, Hurley, O'Neill, RVCA, Volcom, Reef
  Sports, Roxy, Ripcurl are few major manufacturers
  in 2017. The major parameters on the basis of
  which the players in the market compete with each
  other are technological innovations, product
  performance, geographical presence and various
  other parameters.
• The global Surfing equipment market has been
  growing at a substantial rate over the review
  period, 2012-2017 and it is expected that the
  market shall experience similar growth and will
  grow at a CAGR of from 2018-2022. It is
  expected that the consumer expenditure in the
  market shall reach USD million by 2022.

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• Rise of surfing as a lifestyle sport equally
  among all the age groups is regarded as the major
  reason for the expected growth in the coming five
  years.
• The market has been anticipated to be evolved
  owing to the sustained efforts of surfing
  equipment manufacturers, marketers and
  associations to make surfing much more
  accessible. Moreover, in the recent years women
  participants in the sport has been on a rise.
  This shall lead to the launch of more fashionable
  surf-gear and surf-wear.
• The region America is expected to dominate the
  market with a share of in terms of consumer
  expenditure, with US contributing most of the
  regions revenue, supported by the long
  established surfing culture in the region and the
  resulting large base of surfer population.

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