by The global Windsurf Foil Board Market is estimated to be valued at US$ 154.7 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Windsurf foil boards are mono hulls with foil systems attached on the bottom that allow windsurfers to rise up and skim over the water’s surface. The foil board reduces impact and drag allowing riders to experience a smooth ride even at low wind speed. It provides more control, lift and stability compared to traditional windsurf boards. The boards have become extremely popular among professional and recreational riders due to their capability to easily penetrate waves and planning ability in flat water. This has significantly boosted participation in water sports activities.
Market key trends:
One of the major trends in the windsurf foil board market is its growing popularity among recreational riders. Traditional windsurfing requires strong winds to lift the sail and rider, however foil boards perform well even at low wind speeds increasing its accessibility. Furthermore, the boards enable more control and freedom of movement compared to traditional boards attracting first time riders and families. Rental and trial sessions offered by water sport centers have also supported widespread adoption. Technological advancements including adjustable rigs, releasable components and carbon composite construction have further improved performance and handling of the boards fueling market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the windsurf foil board market requires high level skills and expertise in designing and manufacturing foil boards. Product differentiation is also difficult against established players.
Bargaining power of buyers: The bargaining power of buyers is high as the market has various options with global presence of key manufacturers. Buyers can negotiate on pricing and demand custom requirements.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material availability and dependence is limited for manufacturers. Switching cost from one supplier to other is low.
Threat of new substitutes: The threat of new substitutes is low as windsurf foil boards have a unique product proposition and technology.
Competitive rivalry: Fierce competition exists between key players to gain higher market share through continuous product innovations, new product launches and marketing initiatives.
Key Takeaways
Global Windsurf Foil Board Market Size is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing popularity of watersports and adventure activities.
Regional analysis: North America dominates the windsurf foil board market currently. However, Asia Pacific region is expected to emerge as the fastest growing market, led by countries like China, Japan and India. Increasing participation in watersports and growing middle class population are driving demand in the region.
Key players: Key players operating in the windsurf foil board market are Lift Foils, F4 Foils, Horue Foil, Cabrinha, FANATIC, JP Australia, Neilpryde Windsurfing, North Sails, RRDFoils, Starboard, Slingshot Sports, Phantom Boards, Duotone, Naish International, Tabou, Exocet, GA Fins. Players are focusing on new product development, sponsoring professional athletes and marketing campaigns to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
