In 2020, the global Park 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 Park 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.
Restraining Growth of Park Skateboard Market
- High Cost: Skateboarding can be an expensive sport, especially when considering the cost of quality skateboards, safety gear, and maintenance. The relatively high upfront investment required for equipment may limit the accessibility of skateboarding to certain demographics or regions with lower disposable incomes.
- Safety Concerns: Skateboarding is inherently risky, and injuries are common. Safety concerns can be a significant barrier to entry for new participants, as well as a concern for parents and guardians. The perception of skateboarding as a dangerous activity might deter potential riders, leading to slower market growth.
- Lack of Infrastructure: Skateboarding heavily relies on suitable skateboarding infrastructure, such as skate parks, ramps, and other designated areas. In some regions, the availability of such infrastructure is limited or inadequate, making it difficult for skateboarders to practice or enjoy the sport. The absence of proper facilities can hinder the growth of skateboarding communities.
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 Park 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 Park Skateboard Market.
- Elaborate study of the leading regional markets in the global Park Skateboard Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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