Hydrofoil Surfboards to Generate an absolute $ opportunity of US$ 51 Mn in the Electrical Surfboards Market

The Fact.MR market study on the electric surfboard market provides deep dive into key developments in the electric surfboard market. The report offers comprehensive analysis of leading segments in terms of by product type, by body, by engine capacity, by maximum speed by archetype, by user category, by sales channel and region.

NEW YORK, Feb. 11, 2022 /PRNewswire/ -- The global electric surfboard market size expanded at a CAGR of 6.9% during the forecast period 2022-2032 and is estimated to reach a market valuation of US$ 83.4 Mn in 2022 and is forecast to reach a market value of US$ 165.6 Mn by the end of 2032.

Electric surfboard sales accounted for a 7% market share of the global surfboard market value in 2021, which is predicted to rise to nearly 12%-15% market share by 2032.

Surfing has been one of the conspicuous water sports which attracts a large group of sports enthusiasts. Ease of operation, lightweight body, high-speed motors, and other technical advantages associated with electric surfboards have graced overall market presence. However, electric surfboards are manufactured at comparatively higher price points than conventional surfboards.

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The surging number of surfing enthusiasts around the globe is a positive indication for e-surfboard manufacturers. It helps to increase their annual production volumes.

This high cost associated with motor implementation, complex design, and costly material of electric surfing boards is likely to restrict product penetration as this could shift consumers' interest towards alternative water sports such as kite surfing, windsurfing, kayaking, and others and take in down the market.

Only limited players are providing higher battery life greater which is 60 min of the ride, which is a deciding factor in the overall market structure. As such, the availability of lower battery life e-surfboards acts as the most dominant restraint for market growth. This restrain needs to be eliminated to uplift annual e-surfboard sales over the coming years.

Key takeaways:

• Electric surfboards to capture 12%-15% of the global surfboards market share by the end of 2032.
• The U.S. currently accounts for the market valuation of US$ 28.8 Mn market value, with volume sales of around 3,768 units
• The China electric surfboard market size is likely to surge at a CAGR of around 6.8% over the decade and is estimated to reach a market valuation of US$ 2 Mn in the assessment year 2022.
• By sales channel, the online sales channel segment accounted for the higher sales and growth rate of 6.4% market share during the forecast period.
• By product type, the hydrofoil surfboards segment is set to create a market valuation of an absolute $ opportunity of US$ 51 Mn by the end of the assessment period.

Growth Drivers:

• Demand for the sales of e-surfboard kits products from the consumers.
• Demand in the growth of the e-surfboard market from the product factors such as lightweight body, effortlessly transporting.

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Competitive Landscape:

The competitive landscape of the electric surfboard market focuses on technology in surfboard equipment which enhances product lifecycle.  

Some of the most well-known brands, such as ESURF, Jetsurf, and others, use a personality-based marketing strategy. Tier-2 and tier-3 players have a lot of options for financial expansion and expanding their regional presence if they adopt this method.

Customers' experiences are always being improved by market players through product optimization and customised options. In the near future, this technique is anticipated to boost product awareness and attract new customers.

• Ravik 3 (a product offered by AWAKE) can outstretch the mark of 50 kmph from rest, within a span of 5 minutes.

Key Companies Profiled by Fact.MR

• Radinn AB
• Lift Foils Limited
• Awake
• Fliteboard Pty. Ltd.
• LAMPUGA GMBH
• VeFoil

More valuable insights on the Electric Surfboard Market: 

Fact.MR, in its report, offers a market analysis of the global electric surfboard market the forecast period through 2022 and beyond. This survey reveals the growth of sports in the Electric surfboard Market with detailed segmentation as follows:

• By Product Type:
• Standard Electric Surfboards
• Hydrofoil Electric Surfboards
• By Body:
• Inflatable Electric Surfboards
• Solid Electric Surfboard
• By Engine Capacity:
• Up to 10 kW Electric Surfboards
• 10-12 kW Electric Surfboards
• Above 12 kW Electric Surfboards
• By Maximum Speed:
• Below 20 Kmph
• 20-40 Kmph
• Above 40 Kmph
• By Archetype:
• Individuals
• Baby Boomers
• Gen X
• Millennials
• Gen Z
• Institutional
• Promotional
• By User Category:
• Professional Users
• Beginner
• Intermediate
• Advanced
• Recreational Users
• By Sales Channel:
• Online Sales of Electric Surfboards
• Company-owned Websites
• e-Commerce Websites
• Offline Sales of Electric Surfboards
• Franchised & Retail Chains
• Sports Variety Stores
• Modern Trade Channels
• By Region:
• North America Electric Surfboard Market
• Latin America Electric Surfboard Market
• Europe Electric Surfboard Market
• East Asia Electric Surfboard Market
• South Asia Electric Surfboard Market
• Oceania Electric Surfboard Market

MEA Electric Surfboard Market

Key Questions covered in the Electric Surfboard Market Report

How big is the electric surfboard market?

How many electric surfboards are sold each year?

At what CAGR is the market expected to evolve through 2032?

How has the market performed over the past half-decade?

Who are the key manufacturers of electric surfboards?

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