Global Street Skateboards Accessories Market Size, Share, Growth Analysis, By Type(Wheels, and Bearings), By Distribution Channel(Offline Retail, and Online Retail) - Industry Forecast 2024-2031

Street Skateboards Accessories Market size was valued at USD 1.64 billion in 2022 and is poised to grow from USD 1.72 billion in 2023 to USD 2.48 billion by 2031, growing at a CAGR of 4.70% during the forecast period (2024-2031).

The increased propensity towards fitness has led to a boom in outdoor sports activities, which has been a crucial driver for the street skateboard accessories market. Skateboarding's physical advantages, like improved flexibility and coordination, have added to the sport's enormous appeal and growth in popularity across numerous nations. Skateboard and accessory sales have increased as a result of contests like X Games and Street League raising awareness of skateboarding. Global skateboarding competitions like the World Skate Championship have also helped the market expand.

Over 85 million people skate worldwide, the majority of which are under the age of 18. This growth in popularity of skateboarding has resulted in an increase in the number of skaters worldwide. Skateboards with graphic prints have become more and more popular among customers. Skateboarding and other outdoor sports are becoming more and more popular as a result of the younger generation's growing emphasis on fitness, health, and general well-being.

Sports related to the urban lifestyle, such as wakeboarding, kite surfing, parkour, surfing, and paddleboarding, have also grown in popularity. According to studies, at least 10% of English adults are interested in lifestyle sports. Among Americans six years of age and older, the percentage of participants in outdoor sports climbed from 53.9% in 2013 to 59.2% in 2018. With an average of 36 outings per skateboarder and 97.2 million total outings among the 6-17 age group and an average of 18 outings per skateboarder and 115 million total outings among the 18-24 age group, skateboarding was the fourth most popular outdoor activity among youth in the US in 2017.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Street Skateboards Accessories 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 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.

Global Street Skateboards Accessories Market Segmental Analysis

Street Skateboards Accessories market is segmented into by type, distribution channel, and region. Based on type, the Street Skateboards Accessories Market can be segmented into wheels, and bearings. In terms of distribution channel, the Street Skateboards Accessories Market is segmented into offline retail, and online retail. Based on region, the Street Skateboards Accessories Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Street Skateboards Accessories Market

The market for street skateboard accessories is mostly driven by the growing appeal of skateboarding as an outdoor sport and leisure activity. In addition to being enjoyable, skateboarding has other health advantages, including increased flexibility and coordination. The expansion of the business has also been aided by raising awareness of skateboarding through numerous competitions and events like the World Skate Championship and X Games. The younger generation's increased emphasis on fitness, health, and general well-being has also increased outdoor sports and leisure activities, which has increased demand for street skateboard accessories.

Restraints in the Global Street Skateboards Accessories Market

The significant risk of accidents associated with skating is one of the main factors limiting the market for street skateboard accessories. This could result in a drop in participation rates and sales of skateboarding accessories. The lack of sufficient infrastructure, such as the unavailability of safe skateboarding parks and facilities in some locations, also poses a hindrance to the market's growth. The high price of skating equipment and the accessibility of less expensive alternatives may potentially hinder the market's expansion in some areas.

Market Trends of the Global Street Skateboards Accessories Market

An important trend in the street skateboard accessories market is the increasing demand for eco-friendly and sustainable products. Customers are searching for products that are eco-friendly and have less of an impact on the environment as they become more environmentally conscious. In response to this trend, producers of skateboard accessories are including eco-friendly materials like bamboo, recycled plastic, and organic cotton into their designs. Manufacturers are likewise concentrating on cutting emissions and waste from their production operations. It is anticipated that this tendency will continue in the upcoming years as consumers' purchase decisions become more and more influenced by sustainability.