Skateboarding equipment: Key market research findings
- The Americas dominate the market geographically
- Skateboards account for the majority share of the market’s revenue
- Key vendors – Alien Workshop, Almost Skateboards, Element Skateboards, Plan B, and Zero Skateboards
Technavio’s market research analyst predict the global skateboarding equipment market to grow at a CAGR of around 3% between 2016 and 2020. The demand for skateboarding equipment is fueled by the increase in the number of manufacturers venturing into the skateboarding footwear market. Vendors today are also appointing professional skateboarders as their brand ambassadors to gain market shares. During 2015, the Americas dominated the global skateboarding equipment market with a share of around 60%. The high popularity of the sport in the region, especially the US and Brazil, is expected to propel growth in the skateboarding equipment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the skateboarding equipment segments based on the product.
“Of late, there has been a substantial increase in the availability of specialized products in the market. Vendors are focusing on the manufacture of innovative and specialized products to cater to the growing demand spurred by the increasing popularity of skateboarding. Besides, the constant need for better protection techniques and products that would add to the comfort and convenience of the user is also expected to reflect positively on the market in the coming years,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
At present, the skateboards market accounts for the maximum share of the global skateboarding equipment market with a share of almost 41%. Skateboards are available in two distinct types, namely longboards and shortboards. Shortboards are commonly used to perform skateboarding tricks while longboards are used for cruising and racing. The growing popularity of skateboarding coupled with technological advancements is expected to boost growth in the global skateboards market by 2020.
The key vendors in the market include Alien Workshop, Almost Skateboards, Element Skateboards, Plan B, and Zero Skateboards. The global skateboarding equipment market is dominated by a few leading suppliers. Despite the presence of a few vendors, the market is highly fragmented due to the presence of several local vendors. The competition is expected to intensify, which will lead to the introduction of many advanced products in the market over the next four years.
A more detailed analysis is available in the Technavio report, Global Skateboarding Equipment Market 2016-2020.
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