Skateboard Market Size, Share & Trends Analysis Report By Product (Street Board, Long Board), By End User (Kids, Teenagers, Adults), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global skateboard market size was valued at USD 1.9 billion in 2018. Rising demand for sporting activities among the younger generation will boost the product demand in the market. The product demand is fueled by increasing demand for skating as a sport in many countries. Apart from using it as a source of fun, it also provides flexibility and good physical shape to the body. Furthermore, inclination towards fitness has resulted in increased outdoor sports activities, which acts as a key factor driving the market over the forecast period.

Increasing awareness regarding skateboarding as a result of various competitions held such as X Games and Street League has resulted in growth in the sales of skateboards. Moreover, in 2016, the International Olympic Committee has announced the inclusion of skateboarding in the 2020 Summer Olympics. Furthermore, graphics play a vital role in increasing the adoption of skateboard by consumers. Increasing inclination of consumers, particularly teenagers, towards funky and attractive graphics displayed on the boards has increased their interest to ride on these boards. As a result, companies follow effective marketing tactics to popularize their brands as a symbol on the skateboards. Companies also use various slogans and keywords popular in the market to derive effective sales.

Social media has increasingly evolved as a primary source for teenagers to get attracted towards these sports. Moreover, increasing adoption of newer sports by new generations such as Generation Z is playing a vital role in creating emerging markets for a variety of skateboards. However, according to the State of Skate, Generation Z are found unfaithful towards any brand or any sport. Therefore, companies strive for greater strategic efforts in order to maintain their interest in the activity.

However, rising popularity of scooters pose a threat to the growing market of skateboards. Youth is expected to be the major contributor in choosing scooters as compared to skateboards. Moreover, consumers are opting for alternative sports for their safety measures due to increasing number of casualties caused by the sport.

Companies develop constant efforts and strategize in order to gain popularity in innovation and increase their share in the skateboard market. For instance, in 2016, at Paris fashion Week, Dior launched its winter collection on a neon colored skateboard catwalk ramp. In addition, several fashion designers and retailers use skateboard iconography. For instance, Santa Cruz Skateboards designer, Jim Phillips earned a renowned status in the California market. Furthermore, renowned companies offer sponsorship to players in order promote their products. For instance, Nike, Inc., PEPSICO INC., and Mountain Dew have sponsored famous skateboarders from the industry such as Eric Koston, Paul Rodriguez, and Sean Malto. This, in turn, has helped the brand become prominent and favored in the market.

Product Insights

Street board emerged as the largest product segment, accounting for 50.7% share of overall revenue in 2018. These skateboards are also known as popsicle board and are predominant in street skating. Street boards are typically manufactured with dimension of 33 inches in length and 7.5 - 8.75 inches in width. The wheels of the board are smaller and harder as compared to other types of skateboards owing to the uneven and rough surface of roads. These are frequently used by the beginners and are available at much cheaper price as compared to other kinds. Companies are investing in manufacturing of skateboards in order to ascertain some percent of market share. For instance, in 2018, Inter IKEA Systems B.V. launched its first skateboard as a part of its furniture and clothing line in Southern California.

Long board is the fastest growing product, expanding at a CAGR of 3.8% from 2019 to 2025. The segment growth is attributed to its longer dimensions and convenience of flipping over. These boards are longer in dimension consisting of 44 inches in length and 22 - 26 inches of width and are available in a wide variety of shapes and sizes. The product is comparatively faster on account of its wheel size, construction, and hardware material. The end–users of longboards comprise cruising, traveling, and downhill racing. Longboard dance and freestyle are emerging as popular styles, which help the rider to experience free fluid like movements.

End-User Insights

Teenagers emerged as the largest segment, accounting for 44.1% share of overall revenue in 2018. Teenagers pertain to the age bracket of 12- 17 years. The segment growth is attributed to a large population in the respective age bracket. For instance, in 2017, the U.S. children in the age bracket of 12 - 17 years comprise 34% of the total children under 18 years of age. Preference of adolescents for a viable, challenging, and recreational sport has made skateboarding a favorite choice among millions of youth.

Use of skateboard by various college students for commuting inside the college premises is also driving the market for skates. Moreover, emergence of electric skateboards is witnessing a surge in the market owing to the motorized mechanism with greater convenience factor. In addition, it also provides the feature of weight sensor controls or handheld throttle for controlling the speed of the board. Usage of skateboards by teenagers exhibit the trend of being rebellious, which provides them motivation to ride on the skateboard.

Kids are projected to expand at a CAGR of 3.7% from 2019 to 2025 owing to growing population among the age criteria. Kids pertain to the age bracket of 0 - 9 years. According to the United Nations Department of Economic and Social Affairs(UN DESA), the global population in the 0 - 9 age bracket consists of 1.3 billion in 2015, while there were 1.2 billion people under the same age category in 2000. Furthermore, growing health concerns over obesity and physical inactivity have gained importance among parents, who motivate their kids for the sport. In addition, it provides added advantage of no cost fee or coaching, which makes it cheap and an easy mode of transport for children.

Regional Insights

North America emerged as the largest regional market, accounting for 31.7% share of global revenue in 2018. Increased awareness regarding skateboarding as well as wide product availability in the region are the key driving factors. According to the findings, 6.4 million people participated in skateboarding in the U.S. in 2016. Moreover, the U.S. has the largest production of skateboards across the globe.

According to a recent survey, skateboard is marked at the third position in the most popular sports category after football and basketball. Inclination of the younger generation is increasing towards the sport as a result of rise in the number of competitions held annually in the region. Various competitions that are expected to take place in 2019 are 26^th Annual Tampa Am in Florida, Jackalope Festival, Central Mass Skate Festival, and X Games Minneapolis.

Asia Pacific is anticipated to register a CAGR of 4.1% over the forecast period on account of increasing awareness towards outdoor sports activities. The region witnessed the highest growth of childhood obesity with 38% rise between 2000 to 2016 among children aged under five years. Moreover, according to the WHO, more than 340 million population aged 5 - 19 years were overweight or obese in 2016. As a result, parents and institutions are encouraging kids to indulge themselves in outdoor sporting activities.

Increasing awareness regarding skateboarding as a result of different competitions and contests held at the country and regional levels also provides motivation to kids to engage in the sport. For instance, inclusion of Skateboarding in the Tokyo Summer Olympics 2020 has provided a boost to all skateboarders to excel in the field. Furthermore, Skate Philippines Summer Championship, the 31^st Annual Skate Japan, and Skate Malaysia, are some other competitions to be held in the year 2019.

Skateboard Market Share Insights

Key skateboard manufacturers include Element Skateboards; Krown Skateboards; SK8FACTORY; Skate One; Absolute Board Co.; ALIEN WORKSHOP; Zero Skateboards; CONTROL SKATEBOARDS INC.; Razor USA LLC.; and Almost Skateboards. The leading players in the market are focusing on product innovation and development to gain a greater market share at a global level. New product launches in the market help to keep the interest alive of the consumers on account of increasing preference for outdoor sporting and inclination towards newer sports in the majority of the regions.

Some of the industry participants are introducing innovation in their products as their key strategy is to increase their market share. For instance, in March 2019, rave skateboards have launched their 2019 summer collection including funky graphic based skateboards. In addition, LAUNCH SNOWBOARDS have introduced their new skateboard line that consists of pintail longboards, drop through longboards, street decks, truck, and wheel kits.

Skateboard Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global skateboard market report on the basis of product, end-user, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)

  • Street Board

  • Cruiser Board

  • Long Board

  • Others

• End-User Outlook (Revenue, USD Million, 2015 - 2025)

  • Kids

  • Teenagers

  • Adults

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa (MEA)

    • UAE