New York, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- A skateboard is a long, narrow board with small wheels on both ends. It has a truck, a deck, and four wheels. Skaters use a deck constructed of maple wood, aluminum, composites, nylon, foam, or fiberglass. Skateboarding reduces stress and increases flexibility. Due to skateboarding’s health benefits, demand is expected to soar between 2022 and 2030.
Popular skateboards include street, park, carve, double kick, cruiser, mini-cruiser, and long. Increasing consumer spending and urbanization are expected to boost skateboard popularity.
Street skateboarding requires creative thinking to navigate street barriers. Many street skating obstacles can be found in skateparks. Skateboarding has no bowls; therefore, tricks are done by "ollieing" down a star set or grinding on rails.
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Global Street Skateboards Accessories Market: KEY FUTURE OPPORTUNITIES
- Rapid Technological Growth and Electric Skateboards
The rapid rise of technology and electric skateboards will create new market prospects. An app or remote control can operate an electric board with sensors and rider weight. This skateboard's built-in safety brake helps the rider retain control at high speeds. Skateboarding’s popularity is boosted by digitally augmented sports.
The market for graphic skateboards is expected to grow because of rising demand, rising awareness of the health benefits of outdoor sports, and increased government investment in skateboarding infrastructure in developed nations. Union Minister Anurag Thakur said in September 2021 that India had budgeted $200 million to build sports facilities in Jammu & Kashmir. Government action like this is expected to boost the worldwide market.
Global Street Skateboards Accessories Market: DRIVERS
- More Outdoor Activities and Skate Parks
According to Straits Research, “The global street skateboard accessories market size was valued at USD 230.05 million in 2021 and is predicted to reach USD 324.89 million by 2030, increasing at a CAGR of 3.91% from 2022 to 2030.” Skateboarding is growing more popular among children because to a decline in obesity and a growth in outdoor, fitness, and sports interests. Several events across the country have boosted the sport's appeal. Skateboarding’s strong competitiveness reduces adolescent wrath and dissatisfaction. Skateboarders and manufacturers have benefited from X Games, Street League, and the Summer Olympics 2020.
Skate Park construction has boosted the market. Growing public support for skate parks has prompted governments to respond. The government is building skate parks that meet design and construction criteria. The WSF and Montreal Olympic Park plan to establish a world-class skate park in July. The Canadian Skateboarding Championships are scheduled for 2017 at the park.
- Teens Want Cool, Modern Graphics
Skateboarding is gaining in popularity, especially among youngsters, who prefer decks with attractive graphics. Skateboarding’s popularity has risen due to this tendency. As a result, firms are making persistent efforts and devising sophisticated plans to increase customer popularity and market share by delivering novel products and services. Dior unveiled its Winter 2016 collection atop a neon skateboard ramp during Paris Fashion Week. Several fashion designers and businesses have adopted skateboarding’s imagery. Jim Phillips, a Santa Cruz skateboard designer, became well-known in California over his career.
Regional Overview of the Global Street Skateboard Accessories Market
The global street skateboard accessories market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
In 2021, North America held half the market share, making it the dominant region. This is due to the growing acceptance of outdoor activities around the world, especially in the United States. Increasing initiatives to develop sports-related facilities and events are also expected to increase the street skateboard accessories market in the area.
Through the years 2022 to 2030, the APAC region is projected to have the greatest street skateboard accessory CAGR of 4.98 percent. Skate boarding’s increase in popularity is a direct outcome of national and regional competitions and contests that have been staged.
Key Highlights
- By Product, the Global Street Skateboards Accessories Market is segmented into Decks, Apparel, and Shoes. In 2021, decks had a revenue share of about 55 percent of the market.
- By Process, the Global Street Skateboards Accessories Market is segmented into Fund-raising Sales and Direct Selling. With a market share of about 81% in 2021, direct selling led the market in terms of revenue.
- By Distribution Channel, the Global Street Skateboards Accessories Market is segmented into Offline and Online Channels. By 2021, the offline distribution channel held a market share of about 75% in terms of revenue.
- By Region or Geography, the Global Street Skateboards Accessories Market is segmented into North America, Europe, Asia & the Pacific (APAC), Latin America, and Middle East & Africa (MEA). In 2021, North America held a nearly 50% share of the global market.
A list of major competitor companies in the Street Skateboards Accessories Market across the globe are:
- Adidas AG
- Nike, Inc.
- Element Skateboards
- Zero Skateboards
- Absolute Board Co.
- Plan B Skateboards
- Skate One
- Santa Cruz Skateboards
- Sector 9
- Almost Skateboards
Recent Developments
- May 2022 - A new and improved relationship between Adidas AG, a global leader in the sporting goods business, and Foot Locker, Inc., a specialised athletic retailer based in New York City, had been announced. The alliance would focus on product innovation, enhanced experiences, and deeper consumer connectivity.
- April 2022 - Nike announced that they would be entering a new chapter of their collaboration with the Bryant family on April 29, 2022. The partnership will encourage today’s generation of athletes and boost youth engagement in sport, and it will be carried out in association with Vanessa Bryant.
Global Street Skateboard Accessories Market: Segmentation
BY PRODUCT
- Decks
- Apparel
- Shoes
BY PROCESS
- Fund-raising Sales
- Direct Selling
BY DISTRIBUTION CHANNEL
- Offline
- Online
BY GEOGRAPHY
- North America
- Europe
- Asia Pacific (APAC)
- Latin America
- Middle East and Africa (MEA)
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