Hydrofoil Surfboards Market Size, Share, Growth, And Industry Analysis by Type (Electronic Hydrofoil Surfboard, Aluminum Hydrofoil Surfboard, Ordinary Hydrofoil Surfboard) by Application (Entertainment, Sports Competition) Regional Forecast By 2031

Hydrofoil Surfboards Market Report Overview

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The global hydrofoil surfboards market size was USD 199.4 million in 2021 & the market is expected to reach USD 300.95 million in 2031, exhibiting a CAGR of 4.18 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with hydrofoil surfboards market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Hydrofoil surfboards, also known as foils, are surfboards equipped with a hydrofoil attached beneath the board, allowing the board to lift up and glide above the water’s surface. The board rises above the waves thanks to the lift produced by the hydrofoil, a wing-like device that glides through the water. Hydrofoil surfboards are perfect for a range of circumstances since this enables the surfer to retain their speed and dexterity even in small or rough waves. Hydrofoil surfboards, as opposed to conventional surfboards, provide a distinctive and thrilling surfing experience by enabling the surfer to travel at great speeds and do aerial acrobatics. Environmentally minded surfers frequently choose them since they are also quieter and less destructive to the environment than conventional surfboards.

Surfboards with hydrofoils are a brand-new design that has gained popularity in recent years. These boards use hydrofoils, a sort of underwater wing that generates lift and aids in the board's smooth water gliding, to glide over the water. Compared to conventional surfboards, this design has a number of benefits, such as quicker speeds, more stable rides, and better control in challenging situations. As more surfers learn about the advantages of this distinctive surfboard design, the hydrofoil surfboards market size is expanding quickly. Growing consumer demand for surfboards that provide better performance and more exhilarating surfing experience is what propels the market. As a consequence, it is anticipated that the market would expand more in the years to come. Few main companies dominate the market and provide a large selection of hydrofoil surfboards in different sizes and styles. These businesses make significant investments in R&D to produce cutting-edge hydrofoil designs, which supports the market's expansion.

COVID-19 Impact: The Pandemic Has Caused Lockdowns And Limitations On Travel And Leisure Pursuits, Which Has Reduced Demand For Hydrofoil Surfboards

The market for hydrofoil surfboards has been significantly impacted by the COVID-19 outbreak. As a result of lockdowns and limits on travel and leisure activities brought on by the pandemic, there is now less of a market for hydrofoil surfboards. Due to the pandemic's impact on global trade, manufacturers of hydrofoil surfboards are having trouble procuring raw materials and supplies. The sales of hydrofoil surfboards have also decreased as a result of the closure of surf shops and water sports retailers. The hydrofoil surfboard distribution network has also been impacted by the pandemic. The economic downturn has pushed several distributors to scale back or close their doors, which has impacted the hydrofoil surfboard supply chain. Additionally, customers have been more frugal with their expenditures due to the pandemic's uncertainty, which has resulted in a decline in the sales of hydrofoil surfboards. Consumers are placing a higher value on necessities than on luxuries like hydrofoil surfboards. 

Latest Trends

"The Market For Hydrofoil Surfboards Is Being Shaped By The Current Trend Toward Electric Hydrofoils"

A fresh and cutting-edge product on the market, the electric hydrofoil surfboard is becoming more and more well-liked by surfers and fans of other water sports. Compared to conventional hydrofoil surfboards, these boards have greater movement and speed since they are powered by rechargeable batteries. Surfers can surf in a broader variety of situations thanks to the electric motor, which eliminates the need for wind or waves and offers a steady and smooth ride. Electric hydrofoils are very quiet, which makes them perfect for usage in regions where noise pollution is an issue. The electric hydrofoil surfboard is a new fad with a lot of benefits that is going to revolutionize how we surf and enjoy water sports.

Additionally, electric hydrofoils have cutting-edge technology that enables users to keep track of their distance travelled, speed, and other performance indicators while surfing. Riders now have a more knowledgeable and involved surfing experience, giving them better control and accuracy. Electric hydrofoils are superior to conventional gas-powered surfboards in terms of maneuverability and control, making them the best choice for riders of all skill levels. They are a convenient and useful option for surfers since they are lightweight, strong, and need little upkeep. They provide surfers with a high-performance, efficient, and sustainable choice, and are expected to gain popularity over the next years. 

Hydrofoil Surfboards Market Segmentation

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• By type

Depending on hydrofoil surfboards given are types: Electronic Hydrofoil Surfboard, Aluminum Hydrofoil Surfboard, Ordinary Hydrofoil Surfboard. The Electronic Hydrofoil Surfboard type will capture the maximum market share through 2031.

• By Application

The market is divided in Entertainment, Sports Competition based on application. The global hydrofoil surfboards market  players in cover segment like Entertainment will dominate the market share during 2021-2031.

Driving Factors

"Growing Popularity Of Water Sports To Fuel The Market Growth"

The market for hydrofoil surfboards is expanding as a result of the rising popularity of water activities, particularly surfing. More individuals are trying water sports and learning about the excitement of surfing on a hydrofoil surfboard as a result of their quest for novel and thrilling experiences. This has increased consumer demand for these goods, which is fueling hydrofoil surfboards market growth. Surfers are increasingly choosing hydrofoil surfboards because they offer a distinctive surfing experience and enable riders to fly above the water and go at faster speeds. These boards are available to a wider market because of the reliability and simplicity they offer, which also appeals to a bigger audience. Surf parks, which offer a controlled environment for surfers to train and hone their talents, are one facility that are being invested in as a result of the rising popularity of water sports. Due to rising consumer demand, this has further spurred the expansion of the hydrofoil surfboard market.

"The Market For Hydrofoil Surfboards Is Expanding Significantly Because To The Rise In Beach And Water Sports Tourism"

Tourism centered on beaches and water sports is expanding as more people head to coastal locations for leisurely pursuits. As more individuals explore for novel and interesting ways to enjoy the water, this has led to a commensurate rise in demand for hydrofoil surfboards. Riders may smoothly glide above the water while surfing on hydrofoil surfboards, which provide a distinctive and exhilarating surfing experience. The rising popularity of beach and water sports tourism, as more people look for novel and interesting activities while on vacation, has increased the demand for hydrofoil surfboards. Hydrofoil surfboards have gained popularity in tourist areas with big populations of beachgoers and water sports enthusiasts, which now provide rental and teaching services to tourists. This has raised consumer knowledge of and availability to hydrofoil surfboards, spurring hydrofoil surfboards market growth. Manufacturers of hydrofoil surfboards are finding new business prospects as a result of the expansion in beach and water sports tourism and the rising demand for their goods. Additionally, the expansion of tourism is  fueling the construction of new infrastructure, such as wave pools and surf parks, which is raising demand for hydrofoil surfboards even more.

Restraining Factors

"The High Cost Of The Boards Is One Of The Primary Problems Limiting The Market Growth"

One significant element impeding the hydrofoil surfboards market growth is the expensive price of hydrofoil surfboards. Due to their particular design and materials, hydrofoil surfboards are often more costly than ordinary surfboards. Many customers, especially those who are just beginning out in the sport, may find them to be unreachable as a result. Additionally, the high cost of the boards may discourage some potential investors, which would hinder the market's expansion. In addition, some people can decide against attempting the activity because they think it is too expensive to pursue. Manufacturers could think about creating more economical solutions and enhancing the goods' cost-effectiveness to get over this constraint.

Hydrofoil Surfboards Market Regional Insights

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"North America To Dominate The International Market As A Result Of Its Expanding Sports Tourism "

Due to the growing interest in the sport and the need for high-performance boards, the hydrofoil surfboards market share in North America has expanded significantly in recent years. The market is thought to be worth several million dollars, and in the upcoming years, revenue growth is anticipated. With numerous significant producers situated there, North America dominates the hydrofoil surfboard industry in terms of market share. Among the top companies in the North American market, Slingshot, Lift Foils, and Moses Hydrofoils provide a variety of hydrofoil surfboards to satisfy the escalating demand. The market for hydrofoil surfboards in the area is also anticipated to increase as a result of the rising popularity of water sports in North America and the rising number of surf schools and training facilities. The market for hydrofoil surfboards in North America is anticipated to expand steadily over the next few years, propelled by a variety of reasons including innovation, improved accessibility, and rising demand for high-performance boards. 

The market for hydrofoil surfboards in Europe has expanded recently and is anticipated to do so in the years to come. Increased consumer interest in action sports, improvements in hydrofoil technology, and the emergence of environmentally friendly alternatives are some of the reasons that have contributed to the hydrofoil surfboards market share expansion. The market for hydrofoil surfboards in Europe has expanded recently as more people who enjoy water sports have started using them. This is partly because to its distinctive shape, which enables a quicker and more effective surfing experience. The market is fueled by a number of reasons, including the rising consumer disposable income, technology improvements, and the popularity of water activities. The market is home to F-ONE, Naish, Slingshot, and Lift Foils, among other notable businesses. In the upcoming years, the market is anticipated to expand further due to rising demand for high-performance and long-lasting hydrofoil surfboards.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP HYDROFOIL SURFBOARDS COMPANIES

• Airush (South Africa)
• Takuma (Japan)
• Cabrinba (U.S)
• AXIS Foils (Thailand)
• GoFoil (U.S)
• Lift Foils (U.S)
• Duotone (Austria)
• Neil Pryde (Hong Kong)
• SabFoil Moses (Italy)
• Slingshot Sports (U.S)
• Naish Foils (U.S)
• F-one (France)
• Waydoo (Switzerland)
• Fliteboard (Australia)
• BIC Sport (France)
• Liquid Force (U.S)
• Starboard Foils (Thailand)
• Ride Engine (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.