In 2020, the global skateboard market had a total worth of USD 2.30 Billion, and it is projected to experience a compound annual growth rate (CAGR) of 3.3% throughout the forecast period. The market's revenue growth is primarily attributed to several key factors, including the growing popularity of skateboarding, increasing disposable income among consumers, and a rising preference for personal mobility.
A skateboard is comprised of a slender board equipped with small wheels at both ends, consisting of three essential components: a truck, deck, and four wheels. The deck serves as a flat board upon which the skateboarder stands during the activity, and it can be constructed using various materials such as maple wood, aluminum, composites, nylon, foam, fiberglass, among others. The truck, on the other hand, is a T-shaped metal piece that secures the skateboard wheels to the deck. Skateboarding offers numerous benefits, including stress relief, improved body flexibility, and body shaping. The anticipated surge in the popularity of skateboarding is expected to result in heightened product demand between the years 2021 and 2028, primarily due to the associated health benefits.
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Top Profiled Companies in the Global Skateboard Market Report:
Element Skateboards, Krown Skateboards, Blind Skateboards, Skate One, Alien Workshop, Zero Skateboards, Control Skateboards Inc., Razor USA LLC, Boosted Inc., and Almost Skateboards.
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The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Product Outlook:
- Street Boards
- Park Boards
- Cruiser Boards
- Long Boards
Distribution Channel Outlook:
- Online
- Offline
End-Use Outlook:
- Adult
- Kid
- Teenagers
Key Takeaways of the Global Skateboard Market Report:
- A comprehensive overview of the global Skateboard industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Skateboard market.
- Elaborate study of the leading regional markets in the global Skateboard market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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