Global Skateboard Bearing Market Size By Material Type (Stainless Steel and Ceramic), By Distribution Channel (Specialist Retailers, Online (Internet Sale), Supermarkets/Hypermarkets), By Geographic Scope And Forecast
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 CustomizationGlobal Skateboard Bearing Market Size By Material Type (Stainless Steel and Ceramic), By Distribution Channel (Specialist Retailers, Online (Internet Sale), Supermarkets/Hypermarkets), By Geographic Scope And Forecast
Skateboard Bearing Market Size And Forecast
Skateboard Bearing Market size was valued at USD 1,704.47 Million in 2022 and is projected to grow to USD 2,963.64 Million by 2030, growing at a CAGR of 7.20% from 2023 to 2030.
The rising popularity of extreme sports and skateboarding among adults as well as the rising demand for skating equipment among young people boosting the global skateboard bearing market. The Global Skateboard Bearing Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Skateboard Bearing Executive Summary
Skateboard bearings can be divided into two major types based on their materialssteel and ceramic. Ceramic and stainless steel bearings are the two types of bearings most frequently utilized in skateboards. The materials composed of which the balls inside the bearing are manufactured are referred to as steel and ceramic. Steel bearings are the most common type of bearing because they contain steel balls. The rising popularity of extreme sports and skateboarding among adults as well as the rising demand for skating equipment among young people boosting the global skateboard bearing market. Skateboard bearing is a bearing that supports the skateboard’s wheels. It can be used for many different things, including sports, toys, and other things. Due to its reduced susceptibility to corrosion, stainless steel bearing utilization has expanded. Product performance and quality are receiving more attention. The industry for skateboarding has seen a rise in demand as a result of the availability of various bearing types such ceramic, stainless steel, and others.
On the basis of material type, Stainless steel accounted for the largest market share in the global market. Based on distribution channel, online channel accounted for the fastest growing segment in the Global skateboard bearing market. On the internet, skateboard bearings are employed for swift and effortless page navigation. Your surfing experience will have more slides the faster and smoother it is.
Global Skateboard Bearing Market Attractiveness Analysis
Skateboard Bearing Market is experiencing a scaled level of attractiveness in the North America region. The Europe area has a prominent presence and will grow at the highest CAGR by 2030. North American consumers tend to value high performance and durability in their skateboard equipment, and this may drive demand for higher-end bearings, such as ceramic and stainless steel bearings. However, there may also be demand for more affordable options, such as basic steel bearings, among cost-conscious consumers and those new to the sport. It is important for manufacturers and suppliers of skateboard bearings to understand the preferences and needs of North American consumers in order to effectively target their marketing and sales efforts in the region. This may involve working with local distributors and retailers to ensure that their products are widely available and accessible to consumers, as well as developing marketing campaigns and product offerings that resonate with the North American market.
Global Skateboard Bearing Market Outlook
A growing number of online retail sales across the exchange of products and services through the Internet is known as e-commerce. It offers a vast array of data, tools, and resources for online buyers and sellers, including mobile shopping and payment encryption. According to estimates in a UNCTAD research released on 3 May, the remarkable expansion in e-commerce amid the mobility limitations brought on by COVID-19 raised online retail sales’ proportion of overall retail sales from 16% to 19% in 2020. The increased popularity of sports among young people will boost demand for associated goods. The product is in more demand as skating becomes popular across a wide range of nations. It not only makes you happy, but it also keeps your body supple and in good physical condition. Key players are implementing growth tactics like new product launches, mergers, and acquisitions in order to increase their market share in the worldwide skateboard bearing market. For instance, the SKF business introduced a new skateboard bearing to the market in April 2022. A number of factors, including the quantity of grease used from the start, may be responsible for the remarkable endurance of the SKF skateboard bearings.
In addition, the increased popularity of sports among young people will boost demand for associated goods. The product is in more demand as skating becomes popular across a wide range of nations. It not only makes you happy, but it also keeps your body supple and in good physical condition. Due to occasions like the X Games and Street League, more people are becoming aware of skateboarding, which has led to a rise in skateboard sales. However, Fluctuating raw material prices of a skateboard bearing hinder the growth of the global market. The industry standard and most cost-effective option are steel bearings. The steel’s quality can differ. Premium bearings with higher-grade steel can increase speed and durability.
Global Skateboard Bearing MarketSegmentation Analysis
The Global Skateboard Bearing Market is segmented on the basis of Material Type, Distribution Channel, and Geography.
Skateboard Bearing Market, By Material Type
• Stainless Steel• Ceramic
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Based on Material Type, the market is segmented into Stainless Steel and Ceramic. Stainless Steel accounted for the largest market share of 55.30% in 2021, and is projected to grow at a CAGR of 6.74% during the forecast period. Ceramic was the second-largest market in 2021. Stainless steel skateboard bearings are a type of bearing that is commonly used in skateboards to allow the wheels to spin. They consist of a series of steel balls that are encased in a metal ring (known as the outer race), which is then fitted inside a metal ring with a slightly larger diameter (known as the inner race). The inner race is usually mounted on the axle of the skateboard wheel, while the outer race is fitted inside the wheel itself. Stainless steel bearings are popular among skateboarders due to their durability and resistance to rust and corrosion. Ceramic skateboard bearings are a type of bearing used in skateboards to reduce friction and increase speed and performance. They are made from ceramic material, which is harder and smoother than traditional steel bearings, allowing for a faster and smoother ride. Compared to steel bearings, ceramic bearings offer several advantages, such as reduced friction, increased speed, and improved durability. They also require less maintenance, as they are less prone to rust and corrosion.
Skateboard Bearing Market, By Distribution Channel
• Specialist Retailers• Online (Internet Sale)• Supermarkets/Hypermarkets• Others
By Distribution Channel, Skateboard Bearing is classified as Specialist Retailers, Online (Internet Sale), Supermarkets/Hypermarkets, and Others. Specialist Retailers accounted for the largest market share of 45.44% in 2021, and is projected to grow at a CAGR of 7.42% during the forecast period. Online (Internet Sale) was the second-largest market in 2021. Specialist retailers play a significant role in the skateboard-bearing market. These retailers are focused specifically on selling skateboarding equipment and accessories, including skateboard bearings. The specialist retailers are knowledgeable about the products they sell and provide expert advice to customers, making them an attractive option for skateboarders who want to purchase high-quality bearings. Online (internet) sales refer to the sale of goods and services through the internet. This type of sales involves transactions made through websites, e-commerce platforms, and mobile applications. Online sales have become increasingly popular in recent years due to the convenience, accessibility, and variety of products available to consumers through the internet. The online (internet) skateboard-bearing market has been growing significantly in recent years, driven by the increasing popularity of skateboarding and the convenience of online shopping
Skateboard Bearing Market, By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East & Africa
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On the basis of regional analysis, the Global Skateboard Bearing Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America accounted for the largest market share of 40.99% in 2021 and is projected to grow at a CAGR of 7.07% during the forecast period. Europe was the second-largest market in 2021. It has gained widespread recognition and acceptance in recent years and has become a part of the country’s sports culture. There are many professional and amateur skateboarding competitions and events held in the US, and many cities have built skateparks and other facilities to support the sport. Skateboarding is also a popular participatory sport, with many individuals and groups taking part in skateboarding for fun, recreation, and exercise. According to the Physical Activity Council Participation Report in 2021, Outdoor Sports among the U.S. population aged 6 and above witnessed a participation rate of 53.9% in 2021, compared to 48.8% in 2016.
Key Players
The major players in the market are; Spitfire Burner, Yellow Jacket, Bones, Heady Shake, Bronson Speed, Oust Bearing, Neal Precision, Zealous Bearings, SHAKEJUNT, among others. This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Company Market Ranking Analysis
The company ranking analysis provides a deeper understanding of the top 3 players operating Skateboard Bearing Market. takes into consideration several factors before providing a company ranking. The top three players for the Skateboard Bearing Market are Bones, NHS INC (Bronson Speed), and Yellow Jacket. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various Skateboard Bearing Markets.
Company Regional/Industry Footprint
The company’s regional section provides geographical presence, regional level reach, or the respective company’s sales network presence. For instance, Bronson Speed has its presence globally i.e. in North America, Europe, Asia Pacific and RoW.Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. For Skateboard Bearing Market, three industries have been considered, i.e., Sports, Apparel, and Others. For instance, Spitfire Burner. has a presence in all the above industries. All the companies considered for profiling are reviewed similarly in this section. These sections help us to understand the overall Skateboard Bearing Market presence on a global and country level.
Ace Matrix
This section of the report provides an overview of the company evaluation scenario in the Skateboard Bearing Market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Spitfire Burner, Yellow Jacket, Bones, Heady Shake, Bronson Speed, Oust Bearing, Neal Precision, Zealous Bearings, & SHAKEJUNT |
| SEGMENTS COVERED | Material Type, Distribution Channel, and Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
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