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The skateboard market size is reach at USD 5.51 billion by 2027, and will grow at a CAGR of 3.72% from 2022 and 2027. The growth of the market depends on several factors, including the increasing popularity of recreational activity, the rising trends of eco-friendly products, and the increasing urbanization of cities.
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This skateboard market report extensively covers market segmentation by End-user (teenagers, kids, and adults), Distribution Channel (offline and online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) and geography North America, Europe, APAC, South America, and Middle East and Africa. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The market share growth by the teenagers segment will be significant during the forecast period. Teenagers are one of the primary consumers of skateboards, and their preferences and choices significantly impact the global skateboard market growth and development.
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The teenagers segment was valued at USD 1,911.87 million in 2017 and continued to grow until 2021. In this segment, when it comes to product preferences, youth tend to prefer skateboards with eye-catching designs, bright colors, and unique graphics. They are also more likely than other age groups to try skateboards of different shapes and sizes, such as longboards and cruisers. Additionally, teens are more likely to participate in skateboarding competitions and events, leading to the growth of the skateboarding market. Skateboarding will make its debut at the 2021 Summer Olympics in Tokyo, Japan. This debut increased the popularity of skateboarding among teens and young adults, further spurring the growth of the market.
The primary trend propelling global skateboard market growth is the increasing popularity of online shopping. Online platforms offer advantages such as convenience, accessibility, and a broad selection of skateboards, making them an appealing choice for consumers. This convenience allows users to buy skateboarding products from home at any time, eliminating the need to visit physical stores, particularly beneficial for those in areas with limited access to traditional retailers. Moreover, online shopping provides easy access to a diverse range of products from various retailers, fostering increased demand for skateboarding items. The growing preference for online shopping is anticipated to drive market growth in the forecast period.
The substantial production costs associated with skateboards pose a significant challenge to the global market's growth. Skateboard products necessitate specialized materials like decks, wheels, bearings, grip tape, and involve expensive manufacturing processes. These elevated production costs may result in higher consumer prices, potentially dampening demand for skateboard products. The durability requirements for skateboard materials, such as 7-ply Canadian Maple for decks and specialized polyurethane for high-performance wheels, contribute to increased expenses. Additionally, the process of pressing skateboard decks entails the use of specialized and costly machinery. The overall high production costs may impede the market's growth in the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Multiple factors propel the North American skateboard market, encompassing the rising popularity of skateboarding for recreation and transportation, the inclusion of skateboarding in the Olympics, and the shift towards eco-friendly and sustainable products. The market is further stimulated by the growing prevalence of skateboarding events and competitions that foster the sport and its associated products. In 2021, 8.8 million individuals engaged in skateboarding in the US, contributing to the nation's status as the largest global skateboard producer. With the continued adoption of skateboarding for both recreational and transportation purposes, the region is anticipated to experience growth throughout the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Almost Skateboards: The company offers skateboards such as Ren and Stimpy, Neo express, and Blur resin. The company also offers various range of skateboards.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Skateboard Market Scope |
|
Report Coverage |
Details |
Page number |
144 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.72% |
Market growth 2023-2027 |
USD 919.58 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, Japan, Australia, France, and Spain |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
2HEX GmbH, Almost Skateboards, Boutique Rollin Board Supplies Inc., CaliRides LLC, Control Skateboards Inc., Dankies Skateboards, Exway Canada, Gyroorboard, Homegrown Skateboards., Piso Skateboards, Pure Distribution LLC., Quiksilver Inc., Razor USA LLC, Shenzhen Tomoloo Technology Industrial Co. Ltd., Skate One Corp., SWAGTRON, The Sovereign Sect, Urban Monkey, Zero Skateboards, and Decathlon Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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