Skateboard Market by Product Type (Street Board, Cruiser Board, Long Board), End-User (Kids, Teenagers, Adults), & Region for 2024-2031
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSkateboard Market Valuation – 2024-2031
The rising passion for sports among young people, as well as the growing global appeal of skateboarding as a sport is driving the skateboard market. According to the analyst from Market Research, the skateboard market is estimated to reach a valuation of USD 2.78 Billion By 2031 over the forecast subjugating around USD 2.22 Billion valued in 2024.
Skateparks’ expanding popularity, as well as the increased availability of high-quality, customizable skateboards, are also key factors propelling the demand in the skateboard market. It enables the market to grow at a CAGR of 3.15% from 2024 to 2031.
Skateboard MarketDefinition/ Overview
A skateboard is a short, narrow board placed on small wheels that is used for coasting and performing athletic tricks. Skateboards are utilized for more than just transportation; they are also popular in recreational activities, competitive sports, and as a form of artistic expression through tricks and stunts. They are also used in skateparks, where riders can practice and show off their talents, helping to foster a thriving subculture that encourages creativity and community.
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What are the Factors that Surge the Demand for the Skateboard Market?
The introduction of skateboarding in the Olympics has greatly increased its popularity. According to the International Olympic Committee (IOC), skateboarding’s debut at the Tokyo 2020 Olympics drew a global broadcast audience of over 309 million viewers. Also, the Sports & Fitness Industry Association (SFIA) revealed that skateboarding participation in the United States grew by 34.2% between 2019 and 2020, reaching 8.8 million people. This growth in popularity has increased demand for skateboards and related equipment.
The expansion of metropolitan areas and the development of skateboarding infrastructure are helping to drive market growth. According to the Tony Hawk Foundation, nearly 600 public skate parks in all 50 states have been funded since 2002, and more than 6 million people visit them each year. Since 2010, the International Association of Skateboard Companies (IASC) estimates that the number of skate parks has grown at a 10% annual pace worldwide. This infrastructure improvement creates additional opportunities for skateboarding, which drives market growth.
Furthermore, with increased awareness of environmental issues, more individuals are turning to skateboards as a sustainable means of short-distance transportation. According to the Environmental Protection Agency (EPA), an average passenger vehicle generates approximately 4.6 metric tons of CO2 each year. In comparison, skating emits no emissions. According to a University of California, Berkeley research, 30% of questioned skateboarders use their boards for transportation, indicating an increasing trend toward skating as an environmentally responsible alternative for short excursions.
What Factors Hinder the Growth of the Skateboard Market?
Skateboarding comes with a substantial danger of injury. Skateboarding involves high-speed maneuvers and tricks, which increases the potential for falls and accidents that result in injuries. This issue deters potential users, particularly parents who are hesitant to allow their children to participate in the sport for safety reasons. As a result, the reputation of skateboarding as a risky pastime inhibits market growth.
Furthermore, the increased popularity of other modes of transportation, such as scooters, presents a challenge to the skateboard market. Scooters are viewed as safer and easier to use, particularly by younger people. As more young people turn to scooters, skateboard producers confront dwindling interest and sales, pushing them to change their strategy to maintain market share.
Category-Wise Acumens
How Does the Popularity of Street Skating Contribute to the Demand for Street Boards?
According to analysis, the street board segment is estimated to hold the largest market share during the forecast period. The popularity of street skating has a big role in street boards’ domination. This skating style is both a mode of transportation and a cultural phenomenon popular among metropolitan teenagers. Street boards, sometimes known as popsicle boards, are specifically constructed for doing tricks and maneuvers on city streets, making them a popular choice among skaters.
The price and accessibility of street boards increase their market share. Street boards are often less expensive than other types of skateboards, making them a good choice for novices and casual riders. Their availability in a variety of retail places and online platforms makes them easily available to a diverse spectrum of consumers, which contributes to their appeal.
Furthermore, compact design and portability are further factors contributing to the street board segment’s dominance. Street boards are lightweight and portable, allowing users to easily navigate urban surroundings. This portability makes them suitable for commuting and casual use, appealing to a clientele that prioritizes convenience in transportation options. As urbanization grows, so does the need for conveniently transportable skateboards, cementing the street board’s market dominance.
How Increasing Accessibility of Skateboards in Teenagers Propel the Growth of the Skateboard Market?
The teenager segment is estimated to dominate the skateboard market during the forecast period. Skateboarding’s cultural influence among youths, spurred by social media and popular culture, is one factor contributing to its supremacy. Instagram and TikTok promote skateboarding trends, stunts, and lifestyles, encouraging youths to participate in the sport. Skateboarding’s presence in music videos and movies reinforces its status as a desirable pastime, encouraging more teenagers to partake.
The growing number of skate parks and community activities has made skating more accessible, which is another driver. Many communities are investing in skateboarding infrastructure, making it easier for teenagers to learn and enjoy the activity. This accessibility increases participation rates since teens can simply find places to skate and interact with people who share their interests.
Furthermore, the appeal of personalization and personal expression is a major factor in enticing teenagers to skate. Many young riders are intrigued by the possibility of customizing their skateboards with distinctive designs and accessories, allowing them to express themselves. This trend not only strengthens their commitment to the sport but also creates a sense of camaraderie among skaters who value innovation and style.
Gain Access to Skateboard Market Report Methodology
Country/Region-wise Acumens
How do Strong Skateboarding Culture and Infrastructure Influence the Market Growth in North America?
According to analyst, North America is estimated to dominate the skateboard market during the forecast period. North America, particularly the United States, has a strong skateboarding culture supported by huge infrastructure. According to the Tony Hawk Foundation, there are over 3,500 skate parks in the United States as of 2021, with over 60% of them developed within the last decade. The foundation also reports that these parks draw over 10 million visitors every year. This vast availability of skating facilities helps the region’s market domination by providing accessible venues for both casual and professional skateboarders.
Furthermore, skateboarding’s recognition as a professional sport, including inclusion in the Olympics, has increased its popularity and market share in North America. According to USA Skateboarding, the national governing organization for skateboarding in the United States, membership climbed by 35% the year after skateboarding made its Olympic debut in Tokyo 2020. Also, the X Games, a major extreme sports event based in North America, stated that its skateboarding events in 2021 drew over 31.8 million spectators across traditional and digital channels. This increasing awareness and professional recognition help to ensure the skateboard market in North America continues to develop.
What Factors Contribute to the Potential Opportunities in the Asia Pacific Region?
Get ready for some serious skateboarding growth in the Asia Pacific! This region is predicted to be the fastest-growing market for skateboards over the next few years. Why? Well, cities are popping up everywhere, which means more places to skate. The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) says that the urban population in Asia and the Pacific is going from 2.3 billion in 2019 to a whopping 3.5 billion by 2050. All this city-building is leading to more skateparks! In China alone, the number of skateparks has jumped by 30% every year since 2015, according to the China Roller Skating Association. More parks means more skating, which fuels the whole market in the region.
Furthermore, Skateboarding’s involvement in the Olympics has greatly increased its popularity in the Asia-Pacific region. According to the International Olympic Committee (IOC), three of the six skateboarding medals at the Tokyo 2020 Olympics were won by Japanese skaters, raising regional interest in the event. The Japan Skateboarding Association reported a 100 percent surge in membership applications following the Olympics. Similarly, the Skateboarding Federation of India reported a 35% growth in participation rates across the country from 2019 to 2021. The growing popularity of skateboarding as a competitive activity is driving market expansion in the Asia Pacific region.
Competitive Landscape
The skateboard market is highly competitive, with numerous foreign and local competitors operating in a variety of areas. Major manufacturers are working on executing important business strategies like collaboration, acquisition, and new product releases to increase their product line and maintain a leading position.
Some of the prominent players operating in the skateboard market include
- Boardriders, Inc.
- Krown Skateboards
- Sk8factory
- Skate One
- Absolute Board Co.
- Alien Workshop
- Zero Skateboards
- Control Skateboards, Inc.
- Razor USA LLC
- Almost Skateboards
Latest Developments
- In June 2023, Hot Wheels Skate established a relationship with X Games and Tony Hawk’s Vert Alert to show support for their skate brand.
- In September 2022, Rovio Entertainment partnered with Capsule Skateboards to launch Angry Birds-themed skateboards.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~3.15% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | Boardriders, Inc., Krown Skateboards, Sk8factory, Skate One, Absolute Board Co., Alien Workshop, Zero Skateboards, Control Skateboards, Inc., Razor USA LLC, and Almost Skateboards. |
| Customization | Report customization along with purchase available upon request |
Skateboard Market, By Category
Product Type
- Street Board
- Cruiser Board
- Long Board
- Others
End-User
- Kids
- Teenagers
- Adults
Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Market Research
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Pivotal Questions Answered in the Study
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