Reports And Data

Skateboard Market Size – USD 2.30 Billion in 2020, Market Growth – at a CAGR of 3.3%, Market Trend – Rising disposable income in emerging economies

NEW YORK, NY, UNITED STATES, July 6, 2022 /EINPresswire.com/ -- Increasing awareness about fitness and outdoor sports activities is a key factor driving market revenue growth

The global skateboard market size is expected to reach USD 3 Billion in 2028 and register a revenue CAGR of 3.3% over the forecast period, according to latest report by Reports and Data. Factors such as growing preference for skateboarding, rising disposable income, increasing awareness about health and fitness as well as benefits of outdoor sports activities, and increasing preference for personal mobility are expected to drive market revenue growth over the forecast period.

A skateboard is primarily a narrow board attached with small wheels at both ends. Skateboarding helps to relieve stress and enhance body flexibility, along with helping people to maintain their shape. Skateboards consist of three components - a truck, deck, and four wheels. The deck of a skateboard is a flat board on which the rider stands while skateboarding, while the truck is a T-shaped metal piece that holds skateboard wheels to the deck. Skateboard decks are made up of a variety of materials such as maple wood, aluminum, composites, nylon, foam, fiberglass, and others.

Rapid technological advancements, advent of electrical skateboards, high demand for graphic skateboards, increasing awareness about health benefits of outdoor sports activities, and rising investment by governments as well as private companies to develop skate parks and infrastructure in emerging economies are some key factors expected to boost demand for skateboards during the forecast period.

Governments around the world are focusing on improving sports infrastructure, which is expected to support market growth during the forecast period. For example, in September 2021, Anurag Thakur, Union Minister of India, announced a package of around 200 Crore INR to develop sports infrastructure in Jammu and Kashmir. In addition, increasing participation of teenagers in a variety of sporting events and rising disposable income of people in emerging economies, such as India, China, and South Korea, are expected to positively impact market revenue growth.

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Some major players operating in the global market include Element Skateboards, Krown Skateboards, Blind Skateboards, Skate One, Alien Workshop, Zero Skateboards, Control Skateboards Inc., Razor USA LLC., Boosted Inc., and Almost Skateboards.

Some Key Highlights From the Report:

• In June 2021, Evolve Skateboards announced the launch of Hadean skateboard series. According to the company, these skateboards are equipped with dual 3000w motors and 21700 lithium-Ion battery cells that generate zero carbon emissions and offer a travel up to 43 miles on single charge.
• Street board segment accounted for largest revenue share in the global market in 2020. This can be attributed to rising demand for street boards and presence of a large number of teenage skateboarders.
• North America skateboard market is expected to account for largest revenue share over the forecast period. Robust presence of well-established companies, rising adoption of electric skateboards, and increasing number of skateboard competitions conducted in countries such as the United States are major factors driving market revenue growth in this region.

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For this report, Reports and Data has segmented the global skateboard market based on product, distribution channel, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018-2028)

Street Board
Park Boards
Cruiser Boards
Long Board

Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)

Online
Offline

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Adult
Kid
Teenagers

Regional Outlook (Revenue, USD Billion; 2018-2028)

North America 
Europe 
Asia-Pacific 
Latin America 
Middle East & Africa 

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Key Advantages of Skateboard Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Skateboard industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Skateboard market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Tushar Rajput
Reports and Data
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