According to a new report released by Grand View Research, the growing inclination towards fitness has led to an increase in outdoor sporting activities, which is acting as a key driver for the street skateboarding accessory market.
The Global street skateboard accessories market the size should reach $ 275.2 million by 2027, expanding to a 3.3% CAGR, according to a new report from Grand View Research, Inc. The growing adoption of outdoor sports activities as a healthy and fit lifestyle has widened the scope of skateboarding as a sport, which supports the growth of the market. In addition, due to the stylish design and the wide variety of products available, an increasing number of students are entering the sport, thus stimulating the use of skateboarding shoes and clothing.
The growing inclination of consumers, especially teenagers, towards funky and attractive graphics displayed on decks, has increased their interest in skateboarding. As a result, companies are making constant efforts and strategizing in order to gain popularity with consumers and increase their market share through innovation. For example, 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 the iconography of skateboarding. For example, Santa Cruz Skateboards designer Jim Phillips has gained renowned status in the California market.
Among the different skateboards available, longboards are subject to a maximum of modifications and evolutions. For example, Edgetrak, a designer and manufacturer of military-grade tracking technologies, in collaboration with performance board producer Wefunk, came up with the first prototype telemetry racing longboard called Mach 1, which is the world’s first telemetry deck. integrated. The longboard has been designed with seven layers of Formula 1 grade carbon fiber with an Airex and Ash core. The product offers unparalleled rigidity thanks to the central channel with carbon fiber inlay. Thus, significant technical developments in the product category have resulted in increasing adoption of the product, thus offering strong prospects for growth.
In terms of products, decks occupied a dominant position in the market in 2019. An increasing number of major international competitions such as Street League Skateboarding, World Cup Skateboarding and World Skate Oceania Street Championship, which include a street skateboarding event, are expected to create optimistic outlook for the demand for street skateboards during the forecast period.
The direct selling segment dominated the market and accounted for an 82.3% revenue share in 2019. An increasing number of street skateboard accessory companies have also started selling skateboards, clothing and footwear. skateboarding on their own websites or by listing products on third parties. Party e-commerce sites. This not only helps businesses build a good relationship with customers by offering door-to-door deliveries, but also improves the profitability margin for sellers.
The offline channel segment dominated the market and accounted for a 76.2% revenue share in 2019. Skateboard stores and sporting goods stores have become a symbol of genuine products, which are expected to drive sales of various street skateboard accessories. Additionally, the on-demand customization provided by skate stores for decks, wheels, and trucks is expected to drive segment growth in the years to come.
North America led the market with a 46.4% revenue share in 2019. The proliferation of streetwear on the shopping streets of North America has been pronounced, with many brands enjoying near-cult popularity. The percentage of skateboarders who prefer the streets the most has increased significantly, which should present strong growth opportunities for skateboards during the forecast period.
Browse the full report with the table of contents @ https://www.grandviewresearch.com/industry-analysis/street-skateboards-accessories-market
Highlights of the Street Skateboard Accessories Market Report
• The Bridge Products segment is expected to reach $ 155.0 million by 2027, growing at a CAGR of 3.8% from 2020 to 2027
• Fundraising sales segment was valued at $ 37.7 million in 2019 and is expected to reach $ 51.7 million by 2027
• Asia-Pacific is expected to experience substantial growth during the forecast period with a revenue-based CAGR of 5.1% from 2020 to 2027
• The main market players are Element Skateboards, Nike, Inc., Adidas AG, Skate One, Santa Cruz Skateboards, Sector 9, Zero Skateboards, Almost Skateboards, Absolute Board Co. and Plan B Skateboards.
To request a copy of this report, please visit @ https://www.grandviewresearch.com/industry-analysis/street-skateboards-accessories-market/request/rs1
Street skateboard accessories market segmentation
Grand View Research has segmented the global street skateboard accessories market by product, process, distribution channel and region:
Street Skateboard Accessories Product Outlook (Revenue, USD Million, 2016-2027)
Street Skateboard Accessories Process Outlook (Revenue, USD Million, 2016 – 2027)
• Direct sales
• Fundraising sales
Street Skateboards Accessories Distribution Channel Outlook (Revenue, USD Million, 2016-2027)
• In line
Regional Street Skateboard Accessories Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• Central and South America
• Middle East and Africa
• United Arab Emirates
List of key players in the street skateboard accessories market
• Element skateboards
• Nike, Inc.
• Adidas AG
• Skating 1
• Santa Cruz skateboards
• Sector 9
• Zero skateboards
• Almost skateboards
• Absolute Board Co.
• Plan B skateboards
Find out more or share questions if any prior to purchase on this report @ https://www.grandviewresearch.com/inquiry/450636/ibb
Browse more related reports:
Skateboard market Size, Share & Trend Analysis Report By Product (Street Board, Long Board), By End User (Kids, Teens, Adults), By Region And Segment Forecast, 2019-2025
About Grand View Search
Grand View Research is a market research and consulting company that offers market research reports, syndicated reports and personalized reports. The company is headquartered in San Francisco, California. It offers customer engagement for business consulting and market intelligence in various fields. The clientele is based in various countries with queries from over 50 industries around the world.
Grand View Research helps clients make informed decisions by helping them understand current trends and scenarios. Each year, Grand View Research performs more than 300 multi-country market studies to optimize advice to clients.
Company Name: Grand View Research, Inc.
Contact: Sherry James, Corporate Sales Specialist – United States
E-mail: Send an email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, USA
City: San Francisco