Summer Boardsports to Lead Expansion with a Robust CAGR of 7.5%, Snowboarding Maintains Steady Growth at 0.8% - ResearchAndMarkets.com

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Summer Boardsports are expected to lead this expansion with a projected CAGR of 7.5%.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, October 18, 2023
Information
Tags: 
Surfing, Sailboarding, Skiing, Snowboarding, Sports, Boardsport, Adidas, Growth, Machine learning, Cloud computing, Lead, AI, Tourism
Geotags: 
US, UNITED STATES, CHINA, UKRAINE
⚠ generated by AI ↴
Organisation: 
RESEARCH AND MARKETS, RESEARCHANDMARKETS.COM
Summary
Key Points: 
  • Summer Boardsports are expected to lead this expansion with a projected CAGR of 7.5%.
  • Key Highlights from the Report:
    Summer Boardsports Taking the Lead: Summer Boardsports are projected to record a robust CAGR of 7.5%, reaching a market value of US$32.8 billion by the end of the analysis period.
  • This growth is attributed to the increasing popularity of activities such as surfing and skateboarding.
  • Steady Growth in Snowboarding: The Snowboarding segment is estimated to grow at a steady CAGR of 0.8% over the next eight years, maintaining its position within the market.


The "Board Sports - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Board Sports, valued at US$20.4 billion in 2022, is poised for significant growth, with projections indicating it will reach an estimated size of US$35 billion by 2030, boasting a notable compound annual growth rate (CAGR) of 6.9% during the analysis period of 2022-2030. Summer Boardsports are expected to lead this expansion with a projected CAGR of 7.5%.

Key Highlights from the Report:

  1. Summer Boardsports Taking the Lead: Summer Boardsports are projected to record a robust CAGR of 7.5%, reaching a market value of US$32.8 billion by the end of the analysis period. This growth is attributed to the increasing popularity of activities such as surfing and skateboarding.
  2. Steady Growth in Snowboarding: The Snowboarding segment is estimated to grow at a steady CAGR of 0.8% over the next eight years, maintaining its position within the market.
  3. U.S. Market Valued at $10 Billion: The Board Sports market in the United States is estimated at US$10 billion in 2022, reflecting the country's strong presence in the industry.
  4. China's Prominent Growth: China, the world's second-largest economy, is expected to grow at a CAGR of 7.7%, reaching a projected market size of US$2 billion by 2030, driven by the increasing interest in board sports.
  5. Global Competitive Landscape: The report features 248 key competitors in the Board Sports market, including industry leaders such as Adidas AG, Billabong International Ltd., and Aropec Sports Corporation.

Economic Outlook:

The global economic outlook is showing signs of improvement, with recovery expected in the coming years. Despite challenges such as uncertainty related to the war in Ukraine and inflation concerns, governments are working to stabilize their economies. The rise of new technologies, including AI, machine learning, cloud computing, and renewables, is expected to drive significant incremental growth and value to global GDP.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

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
  • Surfing Participation Worldwide: Number of Surfers (in Thousands) for Select Countries
  • Women & Girls: The New Wave of Surfers
  • World Surfing Participation by Gender: 2021
  • Industry Witnesses Change in Average Age of Surfers
  • World Surfing Participation by Age Group: 2021
  • Key Technological Advances That Are 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 Smart phones
  • Major 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
  • 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 to Present Long-term Growth Prospects
  • Artificial Wave Pools and Surf Parks Bring Surfing to Landlocked Areas: Potential for Surf Apparel and Gear
  • Health + Wellness + Surfing: 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
  • Kiteboarding Participation in the US (in Millions): (2011-2020)
  • 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 Hitting 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/sghyaj

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