LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global skateboarding equipment market is expected to exceed USD 5 billion by 2020.
This research report titled ‘Global Skateboarding Equipment Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the global skateboarding equipment market into three major product segments. They are:
- Skateboards
- Skateboarding footwear
- Skateboarding protective gear
Global skateboards market
The global skateboards market is expected to exceed USD 2 billion by 2020. This segment occupied the maximum share of the global skateboarding equipment market and is also expected to grow at the fastest rate in comparison to all other product segments during the forecast period. Skateboards are available in two distinct types: longboard and shortboard. Shortboards are mostly used by skateboarders to perform different types of skateboarding tricks, and the longboards are used for cruising and racing.
Traditionally, skateboards consist of decks, grip tapes, trucks, wheels, bearings, and hardware. Skateboard decks are mostly made of maple wood with a polyurethane coating, which makes the boards durable and smooth. While most vendors sell all these skateboarding parts separately, some of them sell complete sets as well. This allows consumers to easily buy whichever part they require as and when the parts wear out.
“With the growing popularity of skateboarding as a sport, the market for skateboards is expected to post a high growth during the forecast period,” says Brijesh Kumar Choubey, a lead analyst at Technavio for outdoor gear.
Global skateboarding footwear market
The global skateboarding footwear market is expected to generate more than USD 1.6 billion by 2020. This segment occupied the second-largest share of the global skateboarding equipment market in 2015, and is expected to maintain its position during the forecast period.
Skateboarding footwear enables skateboarders to skate with ease and comfort. Most skateboarding footwear uses vulcanized rubber or polyurethane soles with a minimal tread pattern or no pattern, along with a composition leather or suede upper, with double or triple stitching to ensure the longevity of the upper material. “Most skateboard footwear manufacturers also use a number of special features while producing such footwear, which help prevent heel bruises and increase the grip action of the footwear. Airwalk, Converse, Vans, and DC Shoes are popular vendors that offer skateboarding footwear,” says Brijesh.
Global skateboarding protective gear market
The global skateboarding protective gear market is expected to generate more than USD 1.3 billion by 2020. Skateboarding safety gear includes helmets, gloves, knee pads, and elbow pads. This segment accounted for the smallest share of the global skateboarding equipment market in 2015, and it is expected to continue posting the slowest rate growth rate over the next five years as well.
The slow growth rate of the segment can be directly attributed to the fact that most skateboarders do not use protective gear. The use of these products is highly restricted to professional skateboarders, apart from various skate parks or skateboarding institutions, which make it mandatory for their members to wear such protective gear. Although skateboarding can lead to physical injuries, seldom do we see any regulations associated with the use of the protective gear. However, Technavio expects the market for skateboarding protective gear to grow with rising visibility and awareness of these products.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Alien Workshop
- Almost Skateboards
- Element Skateboards
- Plan B
- Zero Skateboards
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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