U.S. Board Sports Market Valued at $10 Billion in 2022, China Expected to Reach $2 Billion by 2030

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Oct 13, 2023, 19:45 ET

DUBLIN, Oct. 13, 2023 /PRNewswire/ -- 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:

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.
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.
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.
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

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
World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
Surfing Gear Businesses Remain Alive & Kicking during COVID-19 Pandemic
YoY% Sales Growth in Surf Hardgoods in the US: Feb 2020, April 2020, June 2020, October 2020, December 2020, and March 2021
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
Influencer Market Insights
World Market Trajectories
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
Board Sports - Global Key Competitors Percentage Market Share in 2022 (E)
Board Sports Competitor Market Share Scenario Worldwide (in %): 2020E
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
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
Competition
Market Share of Leading Players in the Global Board Sports Market: 2020
Recent Market Activity
World Brands

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/u1uc6q

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