Global Surfboard Market 2020-2024 | 6% CAGR Projection Through 2024 | Technavio
LONDON--(BUSINESS WIRE)--Jan 24, 2020--
The global surfboard market is expected to post a CAGR of more than 6% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global surfboard market 2020-2024. (Graphic: Business Wire)
Adaptive surfing, also called para surfing, is gaining popularity among people with disabilities. It plays an important role in the rehabilitation process and helps disabled people improve their physical well-being, build confidence, and combat discrimination. Many surfing associations are also increasing awareness about the benefits of adaptive surfing as a vital therapeutic tool for people with different disabilities. For instance, the Portuguese Association of Adapted Surfing, SURFaddict has organized many events along the Portuguese coastline to promote adaptive surfing. Such promotional activities are encouraging the participation of new surfers, which is driving the demand for surfboards.
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As per Technavio, the continuous evolution in designs of surfboards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Surfboard Market: Continuous Evolution in Designs of Surfboards
Vendors in the surfboard market are introducing products with improved design and features. They are introducing surfboards that have nose-less crafts, straight rails, and angular tails. This reduces drag in the waves and increases the speed in water. Many surfing enthusiasts are also coming up with their own surfboard designs. For example, Edison Conner, a former SpaceX rocket scientist, along with his teammates tried to create durable surfboards with ultra-rigid foam which is stronger and stiffer than conventional foam. The introduction of such advanced and innovative products is expected to have a positive impact on the sales of surfboards during the forecast period.
“Increase in use of improved raw materials and rising participation of women in water sports activities will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Surfboard Market: Segmentation Analysis
This market research report segments the global surfboard market by geography (APAC, Europe, MEA, North America, and South America), product (shortboards, longboards, and others), end-user (recreational users and professional users), and distribution channel (specialty stores, department stores, online retail, and others).
The North American region led the surfboard market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the rise in surf tourism and the increasing participation of women in water sports.
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INDUSTRY KEYWORD: SPORTS SURFING/SAILBOARDING
SOURCE: Technavio Research
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PUB: 01/24/2020 08:30 AM/DISC: 01/24/2020 08:30 AM