Press release
Global Electric Surfboard Market Is Forecast To Reach US$ 165.6 Million By The End Of 2032
Rising participation in sports activities is likely to provide long-term benefits for electric surfboard manufacturers. According to research conducted by Fact.MR, in the United States, 16.3% of Gen-Z, 17.1% of Millennials, and 13% of Gen-X citizens were involved in water sports activities, as of 2021. Surging penetration of electric products among various age group will provide lucrative avenues for manufacturers over the next couple of years.
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Key Takeaways from Market Study
By product type, hydrofoil electric surfboards are expected to remain the most dominant among consumers and surpass a valuation of US$ 98 Mn by the end of 2032.
20-40 kmph speed electric surfboards are projected to account for the highest demand, and witness a CAGR of 7.2% over the same period.
On the basis of engine capacity, above 12 kw electric surfboards are likely to be the most attractive segment from the consumer end. This vertical is anticipated to surpass the mark of US$ 74.2 Mn by 2032.
Recreational users are estimated to generate sales of US$ 56.2 Mn in 2022, due to increasing participation in water sports. Moreover, this segment is set to capture approximately 62% of the global market share by the end of 2032.
Europe is expected to generate a valuation of more than US$ 45 Mn by 2032.
North America is set to create an absolute $ opportunity of 32 Mn by the end of 2032.
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Competitive Landscape: Top Companies in Electric Surfboard Market
Awake, CabraTec, Electric Surf Sports, eSurf, Fliteboard Pty. Ltd., Hison, Jetsurf, LAMPUGA GMBH, Lift Foils Limite, Olo Boards, Onean, Radinn AB, TORQUE JET BOARDS, VeFoil, Waterblade, Waydootech, and YuJet are major manufacturers of electric surfboards.
Prominent players have started including carbon nano-fiber incorporated electric surfboards in their product portfolios. Integration of carbon nano-fiber technology in surfboard equipment enhances product lifecycle.
Ravik 3 (a product offered by AWAKE) can outstretch the mark of 50 kmph from rest, within a span of 5 minutes.
In addition to this, some of the leading manufactures such as ESURF, Jetsurf, and others are following the personality-based marketing strategy. Tier-2 and tier-3 players have ample opportunities to follow this strategy for capital expansion and improving their geographical footprint.
After reading the Electric Surfboard Market report, readers can:
Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
Analyze key regions holding significant share of the total Electric Surfboard Market revenue.
Study the growth outlook of the global Electric Surfboard Market scenario, including production, consumption, history and forecast.
Learn consumption pattern and impact of each end use on the Electric Surfboard Market growth.
Investigate the recent R&D projects performed by each Electric Surfboard Market player.
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The Electric Surfboard Market report answers important questions which include:
What does the status of the Electric Surfboard Market look?
Electric Surfboard Market look like after the forecast period?
Which region has the highest contribution to Electric Surfboard Market Devices why?
Which players remain at the top of the Electric Surfboard Market Outlook?
What opportunities are available for the Electric Surfboard Market players to expand their production footprint?
Which segment has the maximum impact on Electric Surfboard Market?
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