A growing interest in surfing classes around the world is helping guide the global surfboard market, with a new report from Technavio Research expecting the industry to grow by about $2.72 billion until 2025.
Over the course of the year, the surfboard marketing experienced a year-over-year growth of 6.23 percent, and the report believes that number could hit 7 percent in 2022. Additionally, the report provides comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
How Surfing Classes Are Paving The Way
Per Technavio’s data, surfing classes is one of the biggest influences on the overall surfboard market, with participation in learning the sport encouraging new riders. Participants can learn an abundance of skills, as well as safety tips for beginners.
With the International Surfing Association (ISA) introducing several educational courses and surfing classes, participation in surfing is increasing tremendously.
How Surfboard Designs Are Changing
With more people showing interest in surfing classes and in the sport in general, innovation in the boards riders use is growing as well. Vendors across the world are producing products like electric surfboards and fully-customizable surfboards. All of this is paving the next generation of surfers.
Said an analyst at Technavio: “The increasing popularity of adaptive surfing and the launch of surfboards with improved features will further accelerate the market growth. However, the increasing adoption of do-it-yourself (DIY) surfboards” will reduce the growth potential in the market”
Overall, global market share in the surfboard market is growing tremendously, with the data from Technavio discovering the North American region leading the way with a 31 percent market share. This is followed by Europe, APAC, South America, and MEA respectively.
Outside of surfing classes, interest in surf championships is increasing as well, with many of the participants driving the growth of the surfing market in North America.
To see more from the Technavio report, click here.