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What are the Main Factors that are Accelerating Demand Growth of Electric Surfboards | Fact.MR

05-10-2022 11:48 AM CET | Sports

Press release from: Fact.MR

What are the Main Factors that are Accelerating Demand Growth

The global electric surfboard market is estimated at US$ 83.4 Mn in 2022, and is forecast to reach US$ 165.6 Mn by the end of 2032, expanding at a CAGR of 6.9% during 2022-2032.

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High Cost and Low Battery Life of Electric Surfing Kits Stunting Market Expansion
Surfing has been one of the prominent water sports that attracts a large group of sports enthusiasts. Ease of operation, lightweight body, high-speed motors, and others technical advantages associated with electric surfboards have graced overall market presence. However, electric surfboards are manufactured at comparatively higher price points as that of conventional surfboards.
This high-cost associated with motor implementation, complex design, and costly material of electric surfing boards is likely to restrict product penetration. This could shift consumers' interest towards alternative water sports such as kayaking, kite surfing, windsurfing, and others. In addition to this, technical advancements such as higher battery capacity, lightweight and costly materials, and hand-on kill switch features drive up prices.

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Key Segments of Electric Surfboard Industry Research

• By Product Type:
o Standard Electric Surfboards
o Hydrofoil Electric Surfboards

• By Body:
o Inflatable Electric Surfboards
o Solid Electric Surfboards

• By Engine Capacity:
o Up to 10 kW Electric Surfboards
o 10-12 kW Electric Surfboards
o Above 12 kW Electric Surfboards

• By Maximum Speed:
o Below 20 Kmph
o 20-40 Kmph
o Above 40 Kmph

• By Archetype:
o Individuals
 Baby Boomers
 Gen X
 Millennials
 Gen Z
o Institutional
o Promotional

• By User Category:

o Professional Users
 Beginner
 Intermediate
 Advanced
o Recreational Users

• By Sales Channel:
o Online Sales of Electric Surfboards
 Company-owned Websites
 e-Commerce Websites
o Offline Sales of Electric Surfboards
 Franchised & Retail Chains
 Sports Variety Stores
 Modern Trade Channels

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• By Region:
o North America Electric Surfboard Market
o Latin America Electric Surfboard Market
o Europe Electric Surfboard Market
o East Asia Electric Surfboard Market
o South Asia Electric Surfboard Market
o Oceania Electric Surfboard Market
o MEA Electric Surfboard Market

Key findings of the Electric Surfboard market study:
• Regional breakdown of the Electric Surfboard market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Electric Surfboard vendors in detail.
• Region-wise and country-wise fragmentation of the Electric Surfboard market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Electric Surfboard market.

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After reading the Electric Surfboard market report, readers get insight into:

• Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
• New, promising avenues in key regions
• New revenue streams for all players in emerging markets
• Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
• Demand and uptake patterns in key industries of the electric surfboard market
• New research and development projects in new technologies in key regional markets
• Changing revenue share and size of key product segments during the forecast period
• Technologies and business models with disruptive potential

Queries addressed in the Electric Surfboard market report:
• How has the global Electric Surfboard market grown over the historic period of 2017-2020?
• Why are the Electric Surfboard market players targeting region for increased product sales?
• What patented technologies are the players utilizing in the global Electric Surfboard market?
• Which regions are displaying the fastest growth in the Electric Surfboard market?
• What are the underlying micro- macroeconomic factors affecting the global Electric Surfboard market?

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