Skateboard Market Size was valued at USD 2.4 Billion in 2022. The Skateboard market industry is projected to grow from USD 2.47 Billion in 2023 to USD 3.21 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.30% during the forecast period (2023 - 2032). Growing popularity of skateboarding and influence of professional skateboarders are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The demand for recreational areas that can accommodate the wide variety of interests of its population grows and changes as cities throughout the world develop. For urban planners looking to build vibrant, inclusive, and dynamic public places, skateboarding has emerged as a well-liked and accessible pastime for individuals of all ages. Skateparks are a great way to make use of underused or abandoned spaces, including vacant lots or abandoned public buildings, and they offer recreational options while also helping to revitalize urban environments.
Urbanization influences the skateboard market mostly through increasing infrastructure spending on skateparks. Municipalities and local governments view skateboarding as a healthy pastime that encourages creativity, social connection, and physical fitness. As a result, they invest cash for the construction and upkeep of skateparks, extending the number of accessible areas where skateboarders may hone their abilities and practice. Skateparks are popping up all over cities and suburbs, acting as gathering places for the skating community and promoting a sense of community among skateboarders. More individuals start skating because of this sense of camaraderie, which increases the demand for skateboards and related goods. Skateboarding events, tournaments, and meetings take place in skateparks. These occasions bring in greater crowds, get media attention, and entice sponsorship offers, successfully promoting skateboarding as a popular pastime. Skateboarding brands and products are exposed more widely as skateboarding events gain in popularity, which boosts sales and broadens the market.
Skatepark construction is not just happening in big cities; it is also happening in suburban areas and smaller villages. Because of its inclusiveness, skateboard vendors and retailers can access new markets and a wider range of clients. In order to suit the demands of various demographics, skateboard firms are inspired to develop and offer a wide variety of skateboarding gear and attire. Skateboarding aficionados travel to experience numerous skateparks in various regions as a result of skatepark expansion. The need for specialist goods, such as skateboards and equipment that is portable, is increased by this trend, which expands the market. Skateboarding culture is assimilating into mainstream culture at an increasing rate as urbanization and skatepark growth continue. The birth of skating as a cultural phenomenon is a result of its influence on vogue, music, art, and lifestyle preferences. Skate boarding’s impact on popular culture increases interest in the sport, draws new participants, and broadens the market. For the creation of distinctive skatepark features and goods, skating firms frequently work with urban artists and designers. These partnerships appeal to art lovers as well as skateboarders, widening the market's appeal and boosting sales.
Skateboarding has evolved from a counterculture to a popular leisure sport thanks to the synergistic relationship between urbanization and skatepark expansion. Skateboards, skateboard gear, apparel, and related accessories are in high demand due to the favorable view of skateboarding in urban settings and the sense of community and inclusivity skateparks provide. In order to profit on the expansion of this dynamic business, stakeholders must remain aware of the changing trends and preferences of skateboarders as the skateboarding market continues to flourish. Thus, driving the Skateboard market revenue.
The Skateboard Market segmentation, based on product, includes street board, cruiser board, long board & others. The street board segment dominated the market in 2022. Street boards, such as cruisers and compact electric skateboards, are designed for easy portability. Their lightweight and compact nature make them convenient for carrying on public transportation, into offices, or storing in small spaces, making them appealing choices for urban commuters.
The Skateboard Market segmentation, based on End-User, includes Kids, Teenagers & Adults. The Teenagers category generated the most income in 2022. Teenagers have historically been a crucial demographic for the skateboard market. Skateboarding has long been associated with youth culture and rebellion, and teenagers are typically more inclined to embrace alternative sports and activities. They are more likely to spend their disposable income on skateboards, skateboard equipment, and apparel, driving demand in the market.
Figure 1: Skateboard Market, by end user, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Skateboard Market dominated this market in 2022 (45.80%). Streetwear and fashion trends in North America are greatly influenced by skateboarding. Skateboarders no longer dominate the market for skate-inspired apparel and footwear, which has increased demand for skateboarding-related goods. Further, the U.S. Skateboard market held the largest market share, and the Canada Skateboard market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SKATEBOARD MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Skateboard market accounts for the second-largest market share. Skateboarding has a rich culture and a long history in Europe. Numerous European towns have taken up the sport, which has sparked the growth of renowned skate parks, skate spots, and skateboarding communities. Skateboarding has sparked a significant interest among young people in Europe because of its cultural relevance and heritage. Further, the German Skateboard market held the largest market share, and the UK Skateboard market was the fastest growing market in the European region.
The Asia-Pacific Skateboard Market is expected to grow at the fastest CAGR from 2023 to 2032. In several nations in the Asia-Pacific area, skateboarding has become more popular as a sport and pastime. Young fans have embraced skateboarding as a means of self-expression and an active lifestyle, which has helped to fuel the expansion of local skateboarding scenes and communities. Moreover, China’s Skateboard market held the largest market share, and the Indian Skateboard market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Skateboard market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Skateboard industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Skateboard industry to benefit clients and increase the market sector. In recent years, the Skateboard industry has offered some of the most significant advantages to medicine. Major players in the Skateboard market, including Element Skateboards, Krown Skateboards, SK8FACTORY, Skate One, Absolute Board Co., ALIEN WORKSHOP, Zero Skateboards, CONTROL SKATEBOARDS INC., Razor USA LLC and others, are attempting to increase market demand by investing in research and development operations.
The manufacturer and distributor of skating apparel and equipment, SK8FACTORY, is situated in Australia and New Zealand. Jonathan Edwards, who is also the company's creator, started The Boom Skateboard Co. in 2008. Skateboards, decks, wheels, trucks, bearings, apparel, and accessories are available from SK8FACTORY. Customers can place orders through the company's online store even from other countries. The SK8FACTORY brand is regarded as a leader in the skateboarding community. The business is dedicated to offering top-notch customer service and premium goods. If you want to purchase skating equipment that is of the finest standard, affordably priced, and delivers top-notch customer service, SK8FACTORY is a fantastic option.
A curious five-year-old kid found an old, worn-out plastic skateboard at a backyard garage sale in Australia in 1983, which is where Absolute Board Co. got its start. He joyfully carried this little skateboard home, took it apart, and with his father's help put it back together. Ben, the company's founder and director, began his career here. Ben's passion for skateboarding grew over time as he engaged himself more and more in the scene. Absolute Board Co., formerly known as Absolute Distributors, now sells its products in more than sixty countries across the world and has offices and production facilities in Australia, the United Kingdom, the United States, China, and Taiwan. The Absolute Board Company's headquarters are in Oceanside, California, in the United States.
Skateboard Industry Developments
October 2021: The Alien Workshop movie features South Wales and Swansea local talent, and it will have its international premiere at Exist Skate Park on October 16, 2021. Nathan is excited to listen to the band's recordings.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.4 Billion |
| Market Size 2023 | USD 2.47 Billion |
| Market Size 2032 | USD 3.21 Billion |
| Compound Annual Growth Rate (CAGR) | 3.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Element Skateboards, Krown Skateboards, SK8FACTORY, Skate One, Absolute Board Co., ALIEN WORKSHOP, Zero Skateboards, CONTROL SKATEBOARDS INC., Razor USA LLC |
| Key Market Opportunities | Skateboarding is becoming more and more popular since it is accessible and fun for novices. |
| Key Market Dynamics | Inclusion and Diversity |
Frequently Asked Questions (FAQ) :
The Skateboard Market size was valued at USD 2.4 Billion in 2022.
The global market is projected to grow at a CAGR of 3.30% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Element Skateboards, Krown Skateboards, SK8FACTORY, Skate One, Absolute Board Co., ALIEN WORKSHOP, Zero Skateboards, CONTROL SKATEBOARDS INC., Razor USA LLC.
The Street Board category dominated the market in 2022.
The Teenagers had the largest share in the global market.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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