The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Electric Surfboard market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Electric Surfboard
The report offers actionable and valuable market insights of Electric Surfboard. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Electric Surfboard Market across various industries and regions.
To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=422
This newly published and insightful report sheds light on Market Insights of Electric Surfboard, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Electric Surfboard Market.
The surfboard market is projected to witness revenue generation of nearly US$ 950 Million, a Y-o-Y growth of over 6.5% in 2018 over 2017, according to Fact.MR valuation. A steady growth of the surfing industry and increasing accessibility of beaches for recreational activities are few of the prominent factors driving the surfboard market revenues.
Fact.MR study opines that sales of shortboards to outsell other surfboard categories. Continued preference for shortboards among surfers reserves the pole position of shortboards in the surfboard market. The status quo is likely to sustain in 2018 and hold nearly one third share of the surfboard market.
While shortboards are highly preferred owing to their superior performance, Fact.MR study shows that demand for longboards among traditional surfers is here-to-stay. Collectively, shortboards and longboards are expected to hold over half the market share in 2018.
Sports Variety Stores Spearhead Surfboard Sales, Direct-to-Consumer Online Channels Emerging Rapidly
The study finds that surfers prefer purchasing surfboards from sports variety stores. Along the same lines, Fact.MR analysis reveals that sales through sports variety stores will witness a rise of US$ 22 million in 2018 over 2017. The convenience of choice, greater exposure and brand visibility available in sports variety stores are few of the reasons responsible for the rising sales through this channel.
Need more information about Report Methodology? Click here- https://www.factmr.com/connectus/sample?flag=RM&rep_id=422
Franchised stores will hold nearly 20% share of the surfboard market in 2018, as per Fact.MR valuation, whereas sales through direct-to-consumer online channels will witness rapid growth rate at over 9% in 2018. Changing population demographics of surfers play a significant role in these purchase trends wherein millennials and Gen Z’s preferences are dramatically shifting.
Apart from recreational activities, surfboards are highly used in surfing institutions such as surfing academies, water sports clubs, surfing schools and private clubs. Because of this, institutional sales of surfboards continue to occupy a larger market share in the surfboard market. Fact.MR study estimates that institutional sales of surfboards will continue to capture over half the market share in 2018 and throughout the forecast period.
Although individual buyer contribution continues to dwindle owing to the preference for renting or leasing a surfboard, 2 out of 5 surfboards sold in 2018 will be through individual buyers.
North America Ascendancy Prevails in Surfboard Market
The popularity of surfing sports across the Atlantic and Pacific coasts of North America, South America and Europe presents lucrative opportunities for manufacturers. The ascendency of North American market share is estimated to prevail throughout the forecast period and the region will account for nearly 40% share of the global surfboard market in 2018. The U.S. is estimated to hold a hefty 71% share of the North America surfboard market.
According to Fact.MR, Europe is estimated to register demand for surfboards next to North America owing to increasing participation in surfing activities in these regions. In Western Europe, the UK is estimated to hold the greater market share and account for over one fourth of the Europe surfboard market share in 2018.
Current marketplace of the surfboard is witnessing entry of electric surfboards where manufacturers have identified growing popularity of electric water sports among sports lovers. On the other hand, sustainability in the surfing industry remains at the top of the mind of every business person associated with the industry. As a part of the ECOBOARD project, industry titans such as FireWire and Channel Islands have introduced eco-friendly surfboards in the market.
The Fact.MR report tracks the surfboard market for the period 2017-2026. According to the report, the surfboard market is projected to grow at over 6% CAGR through 2026.
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/422
Key Question answered in the survey of Electric Surfboard market report:
- Sales and Demand of Electric Surfboard
- Growth of Electric Surfboard Market
- Market Analysis of Electric Surfboard
- Market Insights of Electric Surfboard
- Key Drivers Impacting the Electric Surfboard market
- Which are the Key drivers impacted by Electric Surfboard market
- Restraints Shaping Market Growth
- Market Survey of Electric Surfboard
More Valuable Insights on Electric Surfboard Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Electric Surfboard, Sales and Demand of Electric Surfboard, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
Explore Fact.MR’s Comprehensive Coverage on Sports Domain:
Sports Optics Market -Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2021 – 2031
Hybrid Bicycles Market – Forecast, Trend Analysis & Competition Tracking-Global Market Insights 2021 to 2031
Diving Board Market -Forecast, Trend Analysis & Competition Tracking-Global Market Insights 2021 to 2031
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact: US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583 Corporate Headquarter: Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A, Jumeirah Lakes Towers, Dubai, United Arab Emirates Email: [email protected] Visit Our Website: https://www.factmr.com
PR-Wirein, Menafn, iCN Internal Distribution, Research Newswire, English