Surfing Equipment Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Surfing is a water sport where competitors ride breaking waves toward the beach, frequently on boards. It's a great physical activity that fosters mental well-being and draws participants worldwide. The rising popularity of surfing, especially among millennials and adventure seekers, has substantially impacted the demand for and sales of surfing gear, including surfboards, gear, apparel, and accessories. Surfing incorporates strength training, cardiovascular fitness, a workout for stress release, and a workout for mental well-being as one progresses and picks up new abilities. Increased resilience, the capability to handle different life problems, and a sense of self-worth, social welfare, and vitality are all objectives of surf therapy for young people.

Harvard Medical School claims that surfing causes the brain to release certain chemicals that help with mood, sleep, stress, and anxiety reduction. Since being outside and in nature are stress-relieving activities, surfing is more of a leisure activity. The sport does, however, provide several health advantages. For instance, paddling waves help to enhance cardiovascular fitness while strengthening the back and shoulders. Pushups performed while flat on one's stomach or while squatting before standing help to develop stronger arms and chest muscles and strengthen your legs and core while standing on the board in the center of the waves. It's an excellent physical exercise for enhancing fitness, stability, endurance, and coordination. 130 to 260 calories can be burned while surfing for 30 to 60 minutes.

Market Dynamics Surfing Equipment Manufacturers' Vigorous Growth Strategies Drive the Global Market

Surf equipment manufacturers use organic and inorganic growth strategies to increase revenue streams. Product releases are one of the primary strategies for growth, and they frequently have unique advantages and features that could appeal to more customers. The diversification of business sectors and technology developments are different strategies. These activities have greatly increased the market for surfing gear.

In June 2021, North Carolina-based P2P Rescue expanded its market niche and launched cutting-edge surfboards built for performance and speed. The company is thinking of introducing a line of eight surfboards in a variety of sizes and at mid-range prices that are all targeted at new surfers. This will inspire new admirers of water sports to attempt surfing. As a result of innovation and ongoing development, there is now a greater requirement for surfing equipment.

Technological Advancement
Creates Tremendous Opportunities

As more people become aware of the sport, the global surf industry changes quickly. Businesses that participate in surfing are investing more and more in innovations and advances. Technology improvements and the idea of artificial wave pools inspire young surfers to participate and actively experience the sport's thrill. Wavegarden, headquartered in Spain, has established itself as a renowned pioneer in wave generation technology, generating ideal surfing conditions to meet the growing need for commercial surf parks. The company researches, develops, constructs, produces, installs, commissions, and promotes wave-producing equipment using computational fluid dynamics to modify lagoon designs and impact wave behavior. In addition to providing top-notch Wavegarden Cove and Wavegarden Lagoon solutions to various enticing markets, Wavegarden also offers them to resorts, hotels, commercial centers, real estate, public facilities, private facilities, theme parks, and adventure parks. This would present significant development prospects for the market for surfing equipment.

Regional Analysis

North America is the most significant global surfing equipment market shareholder and is estimated to exhibit a CAGR of 4.0% over the forecast period. According to the International Surfing Association (ISA) and the Surf Industry Manufacturer's Association (SIMA), there are between 17 and 35 million surfers worldwide. In 2012, 13.5 million people worldwide surfed, according to a study the International Surfing Association (ISA) gave to the International Olympic Committee (IOC). Furthermore, Comfy Living asserted that tangible goods make up most of the surf business. The market for surfing footwear is by far the largest in the equipment sector, with annual sales of USD 1.6 billion. Since the pandemic's initial wave, surfing has increased due to the sport's social isolation. Thanks to the use of wave pools for practice and the accessibility of the activity, those who do not live close to a beach may now participate in surfing. Surfers with access to these pools may train in any weather and at any time of day. As there are more wave pools, there is a greater requirement for surfing equipment.

Europe is anticipated to exhibit a CAGR of 4.5% over the forecast period. Surfing has been quickly increasing in popularity despite being an expensive sport. The increase has considerably influenced sales of surfing equipment to new surfers. While team activities were suspended and gyms closed during the epidemic's early stages, young people and adults turned to surfing because it is solitary. A rise in e-commerce activity during the pandemic's latter stages facilitated domestic access to sporting goods. But in the beginning, lockdown laws hindered production and made it difficult to sell products, provide logistical support, and buy raw materials. Sportswear recovery rates in Europe had increased since the pandemic's early phases when they had been declining. The rising appeal of individual activities like surfing, cycling, and skateboarding has also influenced this pattern. These elements will favorably affect the sales of surfboards and other surfing gear.

Key Highlights

• The global surfing equipment market was valued at USD 4,231.46 million in 2022. It is estimated to reach USD 6,234.40 billion by 2031, growing at a CAGR of 4.4% during the forecast period (2023–2031).
• The global surfing equipment market is bifurcated into equipment and distribution channels.
• Based on the equipment, the global surfing equipment market is bifurcated into surfing boards, apparel, and accessories. The surfing board segment dominates the global market and is projected to exhibit a CAGR of 4.1% over the forecast period.
• Based on distribution channels, the global surfing equipment market is segmented into online and offline.
  The offline segment dominates the global market and is predicted to exhibit a CAGR of 4.3% during the forecast period.
• North America is the most significant global surfing equipment market shareholder and is estimated to exhibit a CAGR of 4.0% over the forecast period.

Competitive Players

The key players in the global surfing equipment market are Nike, Inc., Firewire Surfboards, LLC, Rusty Surfboards, and Rip Curl. Ltd., Cannibal Surfboards, Billabong, Quiksilver, Inc., JS Industries, Channel Islands Surfboards, and O'Neill.

Market News

• In February 2023, a unique partnership between Edinburgh Napier University and LOST SHORE Surf Resort will enable Scotland to host cutting-edge surfing research. The collaboration, known as SurfLab, is a first-of-its-kind official research cooperation between higher education and a wave pool.
• In January 2023, the World Surf League (WSL) and Apple established a collaboration in which the former's Apple Watch will serve as the event's official wearable equipment.

Global Surfing Equipment Market: Segmentation By Equipment

• Surfing Boards
• Apparel and Accessories

By Distribution Channel

• Online
• Offline

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

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