DUBLIN, May 23, 2022 /PRNewswire/ -- The "Board Sports - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Board Sports Market to Reach US$29 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Board Sports estimated at US$19.9 Billion in the year 2020, is projected to reach a revised size of US$29 Billion by 2027, growing at a CAGR of 5.5% over the period 2020-2027. Summer Boardsports, one of the segments analyzed in the report, is projected to grow at a 5.9% CAGR to reach US$26.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Snowboarding segment is readjusted to a revised 1.4% CAGR for the next 7-year period. This segment currently accounts for a 9.5% share of the global Board Sports market.
The U.S. Accounts for Over 49.3% of the Global Market Size in 2020, While China is Forecast to Grow at a 6.2% CAGR for the Period of 2020-2027
The Board Sports market in the U.S. is estimated at US$9.8 Billion in the year 2020. The country currently accounts for a 49.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2027 trailing a CAGR of 6.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR while the Rest of the European market (as defined in the study) will reach US$1.6 Billion by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021 and Beyond
- With IMF Making an Upward Revision of Global GDP for 2022, Companies Remain Bullish About an Economic Comeback
- Skiing and Snowboarding Industry Faces a Bumpy Ride
- Winter Sports to Stage Recovery from Pandemic Woes through Digitalization
- Improving Consumer Demand to Drive Winter Sports Gear Sales in 2021-2022 Season
- Board Sports: A Prelude
- Insight into Key Segments
- Summer Board Sports
- Snowboarding
- Generic Factors Influencing the Board Sports Market
- Seasonality: A Characteristic of the Sport
- Economic Conditions
- Alternate Sports & Leisure Activities Cap Consumer Base
- Regional Landscape
- Key Board Sports Markets
- Surfing: The Most Popular Board Sports
- Evolution of Surfing
- Surfboards: An Introduction
- Global Market Prospects & Outlook
- Skiing and Snowboarding Market
- Asia and its Emergence as Next Skiing Destination
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS
- adidas AG
- Aloha Boardsports, Inc.
- Billabong International Limited
- Boardriders Inc.
- Body Glove International, LLC
- Burton Snowboards
- Capita
- Globe International Ltd.
- Gul Watersports Ltd.
- Hurley International
- K2 Snowboarding
- Mervin Manufacturing
- Meta-Sports CO Ltd.
- Never Summer Industries
- Nike Skateboarding
- Nitro USA, Inc.
- O`Neill, Inc.
- Rip Curl, Inc.
- Volcom, Inc.
3. MARKET TRENDS & DRIVERS
- Rising Interest Among Women in Board Sports Opens Encouraging Prospects
- Favorable Demographics to Boost Sales of Surf Wear and Surf Gear
- Women & Girls: The New Wave of Surfers
- Industry Witnesses Change in Average Age of Surfers
- Key Technological Advances Transforming Surfing Experience
- Modular Collapsible Surfboard
- Smart, Connected Surfboards Take Surfing Experience to New Level
- Surf Forecasting Improves Participation
- 3D Printed Surfboard & VR Surfing
- Drone Technology for Surfing
- Finding the Perfect Wave Using Smartphones
- Recent Design Innovations in Board Sports Equipment
- Increased Demand for Handmade and Customized Ski Equipment
- Key Future Design Improvements Expected in Surfboards
- Hi-tech Surfing Gains Interest
- E-foil Technology
- New Range of Brigade Surfing Boards with LED Lights Takes Surfing Experience to New Levels
- Battery-driven Surfboard Powers Electric Surfing Market
- Rising Interest in Surfboard Volume Metrics to Lend Traction for Market
- Sustainable Practices Gain Prominence in Surfing Industry
- Wooden Surfboards: An Eco-friendly and Sustainable Option
- Carbon Technology to Improve Surfboards
- Use of Carbon Fiber Waste in Surfboard-Making
- Surfboards Find Use in Snowboarding
- Rising Popularity of Adaptive Surfing Present Long-term Growth Prospects
- Artificial Wave Pools and Surf Parks Bring Surfing to Landlocked Areas: Potential for Surf Apparel and Gear
- Surfing for Health and Wellness: The New Mantra for Success for Surf Tourism
- Luxury Surf Tourism: Potential for Long-term Growth
- Online Channels Continue to Gain Traction
- Surfing Apparel: Focus Grows on Surf Wear Integrated with Functionality & Fashion
- Wetsuits: Recreational & Professional Surfing to Drive Gains
- Performance Surf Wear: Poised for Growth
- Windsurfing Sustains Hold
- Kiteboarding Gains Attraction in Select Markets
- Wakeboarding Gains Interest as an Extreme Sport
- Manufacturers Target Ski & Snowboard Market with New Gear Options
- Splitboarding Gains Popularity
- Ski Resorts & Snowboard Businesses Feel Heat from Global Warming & Climate Change
- Adapting to Change
- Sustainability Concept Becomes More Audible in Surfboard & Snowboard Space
- Snowboard Makers Eye on Sustainability
- Backcountry Skiing and Snowboarding Gains Interest
- Demographics of Winter Sports
- Advanced Technology, and Performance Apparel Spearhead Market Growth
- Snowboarding Fashion: Plethora of Fresh Styles Hit Retail Stores
- Technology Paves the Way for Unique and Sophisticated Products
- Skateboards Targeted at Women Offer Significant Growth Opportunities
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ivmmkc
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