(MENAFN- Ameliorate Digital Consultancy)
The global bodyboard market is expected to be valued at US$ 255 million in 2022 and to grow at a 6.8% CAGR to US$ 493.1 million by the end of 2032.
It is difficult for new competitors to enter the bodyboard industry since it requires significant technological innovation and expenditure to establish a strong and reputable brand name. To achieve a considerable market share, a significant investment is required to develop a manufacturing facility and distribution network.
The bodyboard market is highly fragmented in terms of suppliers and service providers, allowing manufacturers and customers to choose a provider based on their needs.
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Market Driving Factors:
Market competition makes it difficult for firms to thrive in a volatile climate. To acquire a competitive advantage over other businesses, market participants have begun to offer short-term leasing services to create bigger profits.
Bodyboard producers are focusing on well-known rental service providers who deal in surfing equipment and have a strong client base in the area in which they operate. Several businesses are using this business model to increase their service offerings across borders.
Key Players:
Agit Global ALDER SPORTSWEAR LTD AZTRON Bodyboard HQ BZ Pro Board Catch Surf USA CORE Bodyboards ES Water Sports Hardy Shapes Hubboards Manta Mike Stewart Inc. Morey BodyBoards Nomad Bodyboards Sniper Bodyboards Softech Europe South Bay Board Co. TANDM SURF Tiki Surf Vision Softboards
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Regional Analysis:
International travel is critical to the economy of the United States. In 2019, overseas tourists spent around US$ 233.5 billion and contributed approximately US$ 640 million per day to the US economy.
Bodyboard surfing is one of the recreational activities that draw people to coastal places. Bodyboards are typically favored since they are more small and portable than surfboards and take up less space.
Non-core assets must be divested, but brands in the United States must also invest in greater returns and value-added prospects. Bodyboard market growth may be influenced by technological advancements and consumer preferences throughout the estimated period. Manufacturers, on the other hand, are choosing for a new business strategy in order to diversify their product portfolios and keep a competitive edge.
Key Segments of Industry:
Bodyboard Market by Type : Conventional Bodyboards 1′′ to 35′′ 1′′ to 40′′ 1′′ to 45′′ Greater Than 45′′
Tandem Bodyboards
Bodyboard Market by Buyer : Recreational/Hobbyists Professionals
Bodyboard Market by Sales Channel : Offline Sales Channels Modern Trade Sports Equipment Stores Surfing Equipment Stores Water Sports Stores Brand Stores
Online Sales Channels Company Websites e-Commerce Platforms
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