The report titled "Global Surfing Equipment Market Outlook to 2022 - by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel" provides a comprehensive analysis of global surfing equipment market. The report covers introduction, value chain and market size on the basis of consumer expenditure, market segmentation by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others). The report also includes government regulations, competitive landscape, company profiles for major players (O'Neill, Quiksilver, Billabong International, Body Glove International, Gul Watersports, Hurley International and Channel Islands Surfboards) and market share along with analyst recommendation.
The
report facilitates the readers with an identification and in-depth analysis of
the existing and future trends and issues that impacts the industry. It
provides the readers an idea regarding growth in the future depending upon
changing industry dynamics in coming years. The report is useful for water sports
equipment manufacturers, surfing equipment manufacturers, distributors,
specialty sporting goods stores, department stores, e-commerce portals,
customers and other stakeholders to plan their market centric strategies in
accordance with the ongoing and expected trends in the future.
Global Surfing Equipment Market Size and
Overview
Market Overview: International tourist arrivals and tourist expenditure
has been increasing at a steady pace over the review period (2012-2017),
globally. Coupled with an increase in interest of people towards soft adventure
sports, rising popularity of surfing & adventure sports and growing
awareness regarding fitness-benefits of opting surfing has supported growth in
this industry. Americas has been the biggest market in terms of expenditure
incurred by consumers in surfing equipment’s followed by Europe, APAC and
Middle East & Africa. Increase in demand has also been affected by growing
base of Millennial, higher per capita income in major markets, presence of
well-established players and expanded distribution network in new
regions/countries.
Market Size:
Major players have been using diverse product portfolios and aggressive
marketing & sales strategies to position themselves in the market with
increase in variety of surfing equipment’s available in the market, primarily,
in terms of size, quality, capacity and utility. This has helped the market to
grow at a CAGR of close to 4% during 2012-2017. Increased trade has been
observed amongst major producing and consuming countries. Several leading
manufacturers have invested huge amount in research & development segment
to foster product innovations to increase durability and sturdiness of surfing
equipments. By and large, Global surfing equipment market has increased by significant
amount in the review period.
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Market Segmentation
By Equipments: Surf boards have captured a major market segment in
2017. Major reason for surf boards to hold higher revenue share in the market
is its bulk sales, high price and high replacement demand. These equipments are
bought by surfing professionals, retail/recreational clients as well as by
large-scale and small scale water surf training institutes in large quantities.
Surf gear and accessories together accounted for a lower share in the market. The
gear and accessories required for surfing is not highly priced moreover, it is
not mandatory for a surfer to wear gears and accessories to indulge in the
sport. This primarily justifies its lower share in the market. 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.
By Regions: The
global surfing equipment market was dominated by Americas in the year 2017. The
region occupies the largest share owing to the presence of well-established
water sports/surfing infrastructure and large number of surfing enthusiasts. In
the recent years, surfing has been adopted as a recreational activity along
with being taken-up professionally. Europe accounted for the second largest
share in the surfing equipment market. The presence of increased number of
water sporting sites across Europe makes it the second-largest revenue
contributor. APAC region also witnessed growth in demand for surfing equipments
with an increase in both consumption and production especially in Australia,
China, India, New Zealand, Vietnam and Indonesia. Middle East and Africa has
accounted for the lowest share in the surfing equipment market in 2017. Major
reasons to support such low revenue generation are lack of natural resources
and water bodies to support the sport, low participation rates, less number of
surfing facilities available and low awareness amongst population regarding
surfing as a sports event.
By Distribution Channel: Company Stores and Specialty Stores
dominated the market in 2017. This sales channel has been highly popular since
major large scale manufacturers of surfing equipments usually operate through
own brand stores that exclusively sell equipments of their brand. The purchase
of sports equipments online has been gaining high popularity over the years and
has accounted for second largest share in the market. Some of the major online
retailers selling sports equipments are Amazon and Alibaba. Hypermarkets,
department stores and supermarkets have accounted for double digit share in
terms consumption expenditure. Some of the well-known stores include Walmart
and Tesco.
Global
Surfing Equipment Market Competitive Landscape
Competition
in the global surfing equipment market is highly fragmented due to the presence
of large number of regional players. In the Americas, the competition in the concentrated
however, majority of market leaders have substantial control over market share
in 2017. Majority of manufacturing facilities are based in this region leading
to large exports to countries such as UAE, South Africa and India. Similar
scenario is in Europe. The major players in the market are involved in both
manufacturing as well as trading. Competition in APAC and Middle East &
Africa is still in the growing phase & highly fragmented. There are about
5-10 major surfing equipment manufacturers operating in the global market.
Majority of manufacturing clusters of these major manufactures are located in
North America and Europe. These players compete against each other on the basis
of price, product differentiation (product portfolio size and product
innovations), distribution network, geographical penetration/geographical
presence and research & development activities. Major players include
Quicksilver, Billabong, Hurley, O'Neill, RVCA, Volcom, Reef Sports, Roxy,
Ripcurl and others.
Global Surfing Equipment
Market Future Analysis and Projections
Global
surfing equipment market has been anticipated to showcase a sound growth at a
CAGR of close to 6% during the forecast period (2017-2022E). Growth during this
period is expected to be supported by the rising popularity of surfing as a
recreational and profession activity, increase in the number of surfing
championships and tournaments, increase in demand from Millennial, increased
awareness regarding fitness benefits of surfing, expanding geographical
presence of major manufacturers, intensifying distribution channels, expansion
of online retailing, new product launches, government initiative to promote the
usage of protective surfing equipments and others.
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