Global Skateboard Market Size, Share, Growth Analysis, By Product(Street Board, Long Board), By End User(Kids, Teenagers) - Industry Forecast 2023-2030

Global Skateboard Market size was valued at USD 2.71 billion in 2021 and is poised to grow from USD 2.83 billion in 2022 to USD 4.16 billion by 2030, growing at a CAGR of 4.38% in the forecast period (2023-2030).

Product demand is increasing as skating becomes a more popular sport in many countries. It not only makes you happy, but it also maintains your body's flexibility and physical fitness. The rise in outdoor sports activities spurred on by an inclination towards fitness is another factor driving the skateboard market throughout the forecast period. More people are becoming aware of skateboarding as a result of activities like the X Games and Street League, which has led to a rise in skateboard sales. Skateboarding will also be included in the Summer Olympics of 2021, according to the International Olympic Committee. In order to increase consumer adoption of skateboards, graphics are also essential. Teenagers in particular have expressed a preference for cool and appealing artwork on the boards, which has increased interest in riding on them. As a result, companies use effective marketing techniques to establish their brands as household names on skateboards. Businesses also employ a range of catchphrases and market-proven keywords to drive effective sales. Due to social media, teenagers are drawn to these activities at an increasing rate. Additionally, Generation Z and other younger generations are taking up new sports more frequently, which is fostering the growth of new markets for different kinds of skateboards. The State of Skate, however, asserts that Gen Z is unfaithful to any brand or activity. Businesses look for more significant strategic initiatives as a result to maintain their interest in the activity.

Sales of skateboards are rising, but there is cause for concern since scooters are becoming more and more popular. Among teenagers, scooters are more likely to be favoured than skateboards. Additionally, consumers are choosing alternative activities out of caution due to the increasing number of injuries caused by the sport. Businesses create continual efforts and strategies in order to become popular for innovation and increase their market share for skateboards. For instance, Dior showcased its winter collection in 2021 during Paris Fashion Week on a ramp made of neon-colored skateboards. Numerous fashion designers and companies also make use of skateboard iconography. For instance, Jim Phillips, the creator of Santa Cruz Skateboards, rose to prominence in the state of California. Athletes are additionally supported by well-known corporations in order to promote their products. For example, well-known skateboarders Sean Malto, Paul Rodriguez, and Eric Koston have earned sponsorship from brands like Mountain Dew, PepsiCo, and Nike, Inc. As a result, the brand is now well-known and prominent in the skateboard industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Skateboard Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

Global Skateboard Market is segmented based on Product, End User, and Region. Based on Product the Skateboard Market is further sub segmented into Street Board, Long Board. Based on End User the Skateboard Market is further sub-segmented into Kids, Teenagers, Adults. Based on Region, the market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA .

Driver

Skateboarding's increasing popularity, the demand for environmentally friendly products, and a general interest in sports are the main reasons influencing the growth of the skateboard market. The expansion of the skateboard market will be facilitated by the sport's rising popularity during the coming years.

The market for electric skateboard motors is being driven by two major factors: the increasing attraction of recreational activities and the global popularity of sports. Electric skateboard motors outperform traditional skateboard motors in terms of responsiveness and control, making them the favoured choice for skating activities in nations like Australia, the US, and Europe. Furthermore, the utilisation of electric skateboard motors has increased its appeal to individuals of all ages across the globe.

Electric skateboard motors are a growing trend in individual transportation due to their portability and simplicity. The fast speed of electric skateboards, which helps save time, is a significant element affecting the demand for electric skateboard motors on the global market. Electric skateboards being used by consumers for recreation and sports are anticipated to have a substantial positive impact on the global market for electrical skateboard motors.

Restraint

The primary factor constricting the worldwide skateboard market is the possibility of accidents involved with skating. Skateboards are a particular type of sporting equipment that are mostly utilised for the activity of skating. Traditional skateboards are more widely accessible and less expensive than electric skateboards on the market. Electric skateboard motors require the use of cutting-edge technology, which is an additional costly investment. It is anticipated that this will limit the market for electric skateboards.

Market Trends

Technological development may be a crucial element driving the global market for electric skateboard motors (AI) given that it has resulted in the development of cutting-edge electrical skateboards with Artificial Intelligence. The demand for skateboards with connected technologies like Bluetooth, WI-Fi, and infrared connections is growing on both the international and regional markets for electric skateboard motors. Riders will have better control over speed and handling in less time and with more efficiency when artificial intelligence is implemented in electric skateboard motors. The market for electric skateboard motors is expanding because of ongoing technical improvements.

A growth in the propensity to decrease environmental pollution and government restrictions calling for the elimination of transportation based on petroleum and associated goods have also increased demand for eco-friendly modes of mobility. As a result, there is a growing market for electric skateboards, which will drive the market for electric skateboard motors to grow over the coming years. However, due to their high price as a result of adopting cutting-edge technology, electric skateboard motors are expected to face market limitations. The cost-effectiveness of conventional skateboards versus electric skateboards is an additional aspect that can have a negative impact on the global market for electric skateboard motors.