Westford, USA, Nov. 21, 2022 (GLOBE NEWSWIRE) -- There is growing demand for skateboard market among both children and adults. This is likely due to its accessibility, affordability, and the fact that it can be used for a variety of activities. Skateboarding has been featured in various films and television shows, which has contributed to its popularity. In addition, the sport has experienced a resurgence in recent years thanks to the popularity of skateboarding movies such as "The Life Aquatic with Steve Zissou" and "Skate or Die".
The demand for various products in the global skateboard market is growing at a healthy pace, with companies such as Burton producing high quality boards. There are also a number of online retailers that sell skateboards and related products. The increasing popularity of skateboarding may lead to increased injuries among children, but this is being addressed through safety education programs aimed at parents and children.
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Wooden Skateboard to Witness Strong Growth in Global Skateboard Market
The wooden skateboard movement has seen a surge in popularity in recent years, with many people looking for an eco-friendly and stylish way to get around. Wooden boards are stronger and more durable than their plastic counterparts, making them ideal for both beginners and experts alike.
According to SkyQuest, the wooden skateboard market is expected to grow at a CAGR of 4.8% over the next seven years. This is great news for those looking to invest in this growing trend, as wooden skateboards continue to offer excellent value for money.
According to the International Skateboarding Federation (ISF), the wooden skateboard has seen a resurgence in popularity due to its diversity of tricks, physical and mental workouts that it provides. In addition, wooden boards are cheaper to buy than their metal counterparts, making them more accessible for those who want to try out the sport. There are now leagues of all shapes and sizes catering to both amateurs and professionals operating worldwide. Wooden skateboards offer an immersive experience that can only be found on one's feet; they're not like other boards where consumers can watch hands move around.
This physical activity has become increasingly popular especially with millennials who value sustainability and self-reliance but also want the thrill of big air that comes with skateboarding. With public transportation becoming increasingly expensive, increasing numbers of people are looking for alternatives such as skating for exercise or just having some fun.
Skateboard Market Trends and Statistics: Professionals are Preferring Custom Made Skateboard
Skateboarding has seen a resurgence in popularity over the past few years, with adults and kids alike enjoying the unique experience of skating on a board. The skateboard market is booming, with sales reaching $144.4 million in 2021. This represents a 27% increase from 2015 levels and indicates that the industry is continuing to grow.
Skateboarding is for everyone: The appeal of skateboarding is not limited to just those who are young or athletic; adults enjoy skating as well. In fact, 43% of all skateboarders are over the age of 25. This indicates that there is a wide demographic appeal to this activity.
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Popularity breeds innovation – As the skateboard market continues to grow, manufacturers are innovating their products to keep up with consumer demand. For example, decks have become smaller and more interactive, making it easier for beginners to learn how to skateboard while also providing more exciting experiences for more experienced skaters.
Manufacturers are investing in new technologies – To stay ahead of the curve and meet consumer demands, many manufacturers are investing in new technologies such as 3D printing and lasers that help create customized boards for customers.
Custom Made: There are many different types of skateboards, including cruiser boards, longboards, and downhill boards in the global skateboard market. The popularity of each type of board varies depending on how well it suits a particular rider's style. There are several companies that produce skateboards, including Birdhouse, Element, Globe, Krooked, and Seven Skateboards. Many professional skateboarders also use custom skateboards made by specific manufacturers.
High Entry Cost and Lower Profit Margins to Trouble Skateboard Market Players
1. Lack of diversity in skateboarding: Only a small percentage of the population participates in skateboarding, which leaves the industry with a lack of diversity. This lack of variety can make it difficult for companies to find new and innovative products, which can lead to them losing market share.
2. Lack of sponsorship opportunities: Skateboarding is not as well-known as other sports, which can make finding sponsorship difficult. In addition, skateboarding does not have the same global appeal that other sports do, which can also limit sponsorship opportunities.
3. High startup costs: Starting a company in the skateboard market can be costly, especially if you want to create your own product rather than developing an existing one. This high cost may dissuade fledgling businesses from entering the industry, making it even more difficult for companies to grow.
4. Low margins and low profit margins: The average profit margin in the skateboard industry is relatively low, which means that companies are unlikely to make much money unless they are able to generate large volumes sales or attract wealthy investors. This makes it difficult for smaller businesses to compete with larger ones and limits their potential growth potential.
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Major Players in Global Skateboard Market
- Boiling Point (US)
- Krown Skateboards (US)
- Artprint (US)
- Skate One (US)
- Almost Skateboards (US)
- Alien Workshop (US)
- Plan B(Canada)
- Control Skateboards (Canada)
- Zero Skateboards (US)
- Element Skateboards (US)
- Absolute Board (US)
- Carver Skateboards (US)
- Razor (US)
- SK8 Factory (US)
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