Surfboards: North America leads the surfboard market | Photo: Shutterstock

According to a research study by Fact.MR on the global surfboard market, board manufacturers from around the world have plenty of reasons to smile.

With vast stretches of beaches becoming more accessible for recreational water sports such as surfing, the surfboard market worldwide has received a major boost.

The demand for surfboards is highest in South America, North America, and Europe owing to the massive popularity of the sport in the regions.

This is expected to drive the surfboard market at a 6.7 percent CAGR (compound annual growth rate) during 2017 and 2026, states a recent report.

The Irish market research firm says that numerous factors are boosting demand for surfboards. One of those is the thrust on innovative designs by savvy manufacturers in the surfboard market.

They are seen coming up with surfboards equipped with advanced hydrodynamics, supported by the extensive use of lightweight, hybrid materials that improve the surfing capabilities of these boards.

Prominent manufacturers of surfboards leveraging such strategies are Channel Islands Surfboards, GSI, Firewire Surfboards, BIC Sports, Agit Global, BruSurf, Billabong International, Haydenshapes, Keeper Sports Products, Infinity Surfboards, NSP, Mt Woodgee Surfboards, Quiksilver, and Yuan Sports.

Technology and the North American Power

Besides, astute players in the surfboard market are also seen adding advanced features that include new electronic components, battery-powered maneuverability, and smart speedometers.

Such advanced surfboards are mainly bought in bulk by surfing academies, water sports clubs, and private surfing schools, which are main contributors to revenue in the surfboard market.

In fact, it is predicted that these institutions would account for around 51 percent of surfboards sold in the market from 2017 to 2026.

Meanwhile, the contribution of individual buyers in the global surfboard market will dwindle as many will prefer leasing or renting this equipment for a temporary basis.

North America, at present, leads the surfboard market. The region is primarily powered by Canada and the US, where the popularity of the sport is at its pinnacle owing to their long coastlines.

Going forward, the nations are expected to drive almost 40 percent sales in the surfboards manufactured across the world. This is also because of prominent surfboard manufacturers being present in the region.

Fact.MR also notes that, among the different products available in the surfboard market, shortboards are grossing maximum revenue.

By 2026, their share in surfboard market is expected to rise to 35 percent because of surfers preferring shortboards for their greater maneuverability.

Longboards, on the other hand, will likely account for 21 percent share of the global surfboard market by the end of the forecast period.

Noseriding capabilities of this type of surfboards will drive their sales despite those being heavier and pricier than shortboards.

Shops Rule, But Online Channels are Growing

Last but not least, Fact.MR underlines that sports variety stores continue to be the most significant sales channel for surfboards, with more than 35 percent of surfboards sold globally through these channels.

Nevertheless, direct-to-customer online channels and their customization levels and personalization features are already indicating a robust value CAGR of 9.1 percent over the forecast period.