|Base Year Market Size
|USD 230.05 Million
|Forecast Year Market Size
|USD 324.89 Million
|Fastest Growing Market
The global street skateboards accessories market size was valued at USD 230.05 million in 2021 and is predicted to reach at USD 324.89 million by 2030, increasing at a CAGR of 3.91% from 2022 to 2030.
A skateboard consists of a truck, a deck, and four wheels; it is a long, narrow board with small wheels attached to both ends. Skaters use a flat board called a deck, which can be made of a variety of materials, including maple wood, aluminium, composites, nylon, foam, and fibreglass. Relieving stress and improving bodily flexibility are both benefits of skateboarding. As an outcome of the health profits associated with skateboarding, demand for skateboards is predicted to rise dramatically between 2022 and 2030.
Street, park, carve, double kick, cruiser, tiny cruiser, plus long skateboards are some of the most popular skateboards. Skateboards are predicted to rise in popularity as a result of factors such as increasing consumer expenditure and urbanisation. When it comes to street skateboarding, you have to think outside the box when it comes to navigating obstacles that you'd ordinarily see on the street. Street skating can be done on actual street obstacles, however many of these features can also be found at skateparks. There are no bowls in skateboarding, therefore tricks are done by doing several variations of the "ollie" while sliding down a star set or grinding on rails.
An Upsurge in Inclination Towards Outdoor Activities and The Number of Skate Parks
Skateboarding is becoming increasingly popular among children due to a decrease in obesity and a rise in interest in outdoor activities, fitness, and athletics. The sport's popularity has grown as a result of several events taking place in different parts of the country. Because of the intense competitiveness among skateboarders, it helps to reduce the rage and frustration that often accompany adolescence. As a result of events such as X Games, Street League, and Summer Olympics 2020, skateboarders and manufacturers have been given a leg up in the marketplace.
Skate Park building is on the rise, which has contributed to the market's expansion. Governments have been spurred to action by growing public support for the creation of public skate parks. Therefore, the government is making a concerted effort to build skate parks that meet the right design and construction standards. For example, the World Skateboarding Federation and the Montreal Olympic Park have plans to build a world-class skate park in July of this year. Skateboarding competitions are planned to be held at the park for many more years to come, including the Canadian Skateboarding Championships in 2017.
A Growing Preference Among Teens for Modern and Cool Graphics
Skating is becoming increasingly popular among customers, especially among teens, who have a growing preference for decks that have cool and appealing graphics. This trend is largely responsible for the rise in popularity of skateboarding. As a direct consequence of this, businesses are exerting persistent efforts and developing elaborate strategies in order to boost their popularity among customers and expand their market share by introducing innovative products and services. For example, during Paris Fashion Week in 2016, Dior debuted its winter collection on a skateboard catwalk ramp that was neon colored. In addition, there are a number of fashion designers and businesses who borrow iconography from skateboarding. For example, Santa Cruz Skateboards designer Jim Phillips became well-known in the California market throughout the course of his career.
Skateboarding Carries with It a Certain Degree of Danger of Injury
However, there are a number of negative aspects that are projected to slow market growth to some degree over the course of the forecast period. One of these issues is the risk of injury that is connected with skateboarding. In reply to the expanding frequency of injuries sustained as a result of participation in the activity, customers are increasingly choosing to participate in other types of activities. In addition, the availability of different options, such as scooters, is another factor that is anticipated to limit the growth of revenue in the worldwide skateboard market throughout the period covered by the estimate. The ever-expanding market for skateboards faces competition from the rapidly developing market for scooters. When compared to skateboards, scooters are likely to appeal more to younger people, who are the demographic most likely to buy them.
The Rapid Growth of Technology and The Introduction of Electric Skateboards
The rapid growth of technology and the introduction of electric skateboards are projected to provide a wide range of new market opportunities. A smartphone app or remote control is all that is needed to operate an electric board that has sensors and weighs the rider. This type of skateboard has a built-in safety brake that helps the skater maintain control of the board while travelling at high speeds. Skate boarding’s popularity as a sporting activity is being bolstered by the growing popularity of digitally enhanced sports.
As a result, the market for graphic skateboards is likely to grow during the forecast period as a result of rising demand, increasing awareness of the health advantages of outdoor sporting activities, and increased government investment in skating infrastructure in developed economies. India's Union Minister Anurag Thakur stated in September 2021 that the government has budgeted roughly $200 million to improve sports facilities in Jammu & Kashmir. The global market is predicted to increase significantly as a result of this sort of govt activity.
The Global Street Skateboards Accessories Market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
In 2021, North America held about half of the market share, making it the most dominant region. This can be ascribed to the ever-increasing acceptance that people all over the world have been showing for activities that take place outside, particularly in the United States of America. In addition, growing initiatives to arrange sports-related facilities and events are also projected to boost the expansion of the market for street skateboard accessories in the area.
For instance, throughout the course of the past few years, Canada has played host to a number of qualifying events for major skateboarding championships and competitions. These events include the X Games qualifications in Montreal in 2015 and the Vans Pro Skate Series qualifiers in Vancouver in 2016. The current climate is driving a greater demand for a diverse range of street-style skateboarding clothes and footwear.
From 2022 to 2030, it is anticipated that the market for street skateboard accessories would see the highest CAGR of 4.98% in Asia Pacific. Motivating both children and adults to participate in the sport of skateboarding is a direct result of the rise in popularity of the activity, which has been brought about by a variety of tournaments and contests that have been held at the national and regional levels.
For example, the inclusion of skateboarding as a competition sport at the 2020 Summer Olympics in Tokyo has given both professional and amateur skateboarders a significant boost. In light of the ongoing global coronavirus epidemic, the Games, which had been planned for the year 2020, have been pushed back to July 2021. Skate Malaysia, the Skate Philippines Summer Championship, and the 31st Annual Skate Japan were a some of the most momentous championships that were conducted in 2019.
|By Distribution Channel
|Adidas AG Nike, Inc. Element Skateboards Zero Skateboards Absolute Board Co. Plan B Skateboards Skate One Santa Cruz Skateboards Sector 9 Almost Skateboards
|U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
|China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
|Middle East and Africa
|UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
|Brazil Mexico Argentina Chile Colombia Rest of LATAM
|Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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The Global Street Skateboards Accessories Market is divided into different segments according to the Product, Process, Distribution Channel, and Region (Geography).
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% of the market. A growing number of people are taking up street skateboarding, a type of skateboarding that focuses on flat-land tricks, grinds, slides and aerials in public spaces and metropolitan areas. Skaters' growing interest in street skating has led to an increase in the demand for skateboard decks. It is common for street skateboard boards to be 33 inches long and 7.5-10 inches wide. When it comes to vert and bowl skating, narrower decks are favored by skateboarders on the streets. These goods are popular among novices since they are less expensive than their more expensive equivalents.
The apparel market for street skateboard accessories is estimated to grow at a CAGR of 3.1% between 2022 and 2030. Skateboarding gear, such as t-shirts, sweatshirts, and hoodies, is expected to rise in demand as the sport becomes more popular among children and teenagers. Skateboard gear has grown in popularity in recent years, and this is expected to continue as more parents purchase skateboards and related accessories for their children in the future. When it comes to skateboarding, the average American household spends about USD 390.0 per year, with USD 109.0 of that going toward equipment.
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. The street skateboard accessory market is expected to be dominated by direct selling for the foreseeable future. Brand outlets and sports goods stores are the preferred channels for most manufacturers. Skateboards, decks, clothes, and shoes are all available for purchase at these retail locations, allowing for maximum brand exposure and income generation. As a result of club memberships, many retailers provide discounts on street skateboard accessories to customers.
From 2022 to 2030, the fundraising sales procedure sector of the street skateboard accessories market is projected to raise at a CAGR of 3.92%. Due to an increasing number of skateboarders and skating firms establishing charitable organizations, this area is expected to develop the fastest throughout the projected period. Skateboard companies have a long history of giving back to the community, and they do so in a variety of ways.
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. As a result of this distribution channel, consumers can compare items and discover the right match before making a large commitment. Street skateboard accessories are frequently purchased from these shops because of the convenience of being able to compare prices and specifications across a wide range of brands in one location. First-time purchasers are expected to be drawn in by the expertise of the employees, who are well-versed in skateboarding and other topics.
The market for street skateboard accessories is estimated to grow at a CAGR of 4.15% between 2022 and 2030. Due to the increasing popularity and consumer preference for online shopping, the online distribution channel is anticipated to be the most rapidly increasing segment over the projected period. To purchase skateboarding products, millennials and Generation Z consumers choose online portals and official websites over brick-and-mortar stores. Customers are also drawn to online retailers' value-added services, such as convenient return policies, cash on delivery, and integrated and centralized customer support.
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. In 2021, North America held a nearly 50% share of the global market. Outdoor activities, particularly in the United States, have become increasingly popular and accepted by people around the world as a result of this trend. From 2022 to 2030, the street skateboard accessories market in Asia Pacific is predicted to grow at the quickest rate of 4.98%.