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

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:

Growth Drivers:

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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.

Key Companies Profiled by Fact.MR

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:

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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