Amid the COVID-19 crisis and the looming economic recession, the Surfing market worldwide will grow by a projected US$745.2 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.1%.
Surfing Boards, one of the segments analyzed and sized in this study, is forecast to grow at over 3% and reach a market size of US$2.6 Billion by the end of the analysis period.
An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry.
The Surfing Boards market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned.
Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 3.8% CAGR.
Within Europe, Germany will add over US$44.2 Million to the region’s size over the next 7 to 8 years.
In addition, over US$31.3 Million worth of projected demand in the region will come from Rest of European markets.
In Japan, the Surfing Boards segment will reach a market size of US$188 Million by the close of the analysis period.
Blamed for the pandemic, significant political and economic challenges confront China.
Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Surfing market.
Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 3.1% over the next couple of years and add approximately US$126.3 Million in terms of addressable market opportunity.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review).
Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Competitors identified in this market include, among others,
- adidas AG
- AJW Surfboard
- Billabong International Limited
- Boardriders Inc.
- Body Glove
- Channel Islands Surfboards
- Globe International Ltd.
- Gul Watersports Ltd
- Harbour Surfboards
- Naish International
- Nike Inc.
- O`Neill, Inc.
- Rip Curl International Pty Ltd.
- Volcom LLC
For more information, visit www.researchandmarkets.com