According to research report titled ‘Global Surfing Equipment Market Size study, by Product (Surfing Boards and Apparels & Accessories), by Distribution Channel (Online and Offline), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global surfing equipment market valued at USD 3.88 billion in 2020 is expected record a CAGR of 4.40% over the forecast period and is anticipated to reach USD 5.24 billion by the year 2027.
 

Rising popularity of water sports, increasing sales of sports equipment on internet, along with new product launches to serve evolving consumer demands are the factors propelling the global surfing equipment market growth. In fact, Statista claims that the United States saw an increased number of youth participation in surfing, i.e., from 703000 participants in 2015 to 781000 participants in 2019.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4219694/
 

Moreover, in July 2019, Billabong International Ltd. introduced Furnace Graphene, a graphene-enhanced surfing gear designed to trap and store heat more effectively and keep the wearer comfortable. Introduction of such innovative products, strategic marketing campaigns, and increasing willingness of customer to pay for higher-quality goods are anticipated to drive the market outlook.
 

However, a lesser number of surfing facilities, and lower participation rate in low-income nations are likely to stifle market growth during the forecast period.
 

On the basis of product type, global surfing equipment market is split into surfing boards, and apparels & accessories. Based on distribution channel, the market is bifurcated into online, and offline.
 

Considering the regional scope, the industry spans across North America (US, Canada), Europe (UK, Germany, France, Spain, Italy), Asia Pacific (India, China, Japan, Australia, South Korea, and rest of APAC), and Latin America (Brazil, Mexico), and rest of the world. Among these, North America holds a strong command over the industry trends at present, due to surging ratio of surfing enthusiasts and their willingness to pay for better quality products.
 

Meanwhile, Asia Pacific market is predicted to develop at a fast pace during the projection period, owing to rising disposable income as well as surging population of sports enthusiasts in the region.
 

Speaking of the competitive arena, the major players in global surfing equipment marketplace are Nike, Inc., Billabong International Ltd., Cannibal Surfboards, Quiksilver, Inc., JS Industries, Rusty Surfboards, Channel Islands Surfboards, Firewire Surfboards LLC, Rip Curl Ltd., and O'Neill.