Electric Surfboard Sales Analysis (2017-2021) Vs. Market Outlook (2022-2032)
As per latest market analysis by Fact. MR, a market research and competitive intelligence provider, unit sales for electric surfboards over the past half-decade increased at a CAGR of around 3.8%. Additionally, online sales channels sold 5,963 units of electric surfboards in 2021, in which, company-owned websites accounted for 62.1% share. Growing per capita spending on water sports will provide abundant opportunities to manufacturers in Europe, North America, and others regions. For instance, in 2016, the U.S. accounted for US$ 4.2 per capita expenditure on water sports, which increased to US$ 12.4 in 2021. This trend is expected to provide ample opportunities to electric surfboard manufacturers looking to improve their product penetration. The global e-surfboard market is predicted to expand at 6.9% CAGR over the next ten years.
What are the Key Influencing Factors Accelerating Demand Growth of Electric Surfboards?
Implementing carbon nano-fiber material during the fabrication of surfboards delivers several advantages. This optimises its weight, provides low rotation angles, and enhances overall stability. Carbon nano-fiber is considered as a highly durable material with technical advantages over other sustainable particulars such as aluminium, foam, resins, and many more. According to Fact. MR research, 15% increment has been noticed in the number of enthusiast surfers in 2021 compared to that of 2018. Surging number of surfing enthusiasts around the globe is a positive indication for esurfboard manufactures. This drives them to increase their annual production volumes. Moreover, diversified surfboard ranges offered by manufacturers is likely to attract new consumers towards their e-surfboard kits. In addition, superior product factors such as ease of operating, lightweight body, effortlessly transporting, and electrically operable boards are increasing their acceptance among various water sports admirers. As such, the overall e-surfboard market is likely to gain traction over the coming years.
FAQ
At what CAGR is the market expected to evolve through 2032?
Electric surfboard sales value is expected to increase at a CAGR of around 6.9% during the period of 2022-2032.
Who are the key manufacturers of electric surfboards?
Top companies manufacturing electric surfboards are Tame billow, Fliteboard Pty. Ltd., Lift Foils Limited.
