Skateboard Market Size, Share, Growth Analysis, By Product(Street Board, Long Board), By End User(Kids, Teenagers, Adults), By Region - Industry Forecast 2024-2031

Global Skateboard Market size was valued at USD 2.71 billion in 2019 and is poised to grow from USD 2.83 billion in 2023 to USD 4.16 billion by 2031, growing at a CAGR of 4.38% in the forecast period (2024-2031).

The growing popularity of skating as a sport across many nations is driving up product demand. Along with being enjoyable, it also helps the body stay flexible and in good physical form. An additional element boosting the skateboard market over the forecast period is the increase in outdoor sporting activities brought on by a tendency toward fitness. Skateboard sales have increased as a result of more people becoming aware of skateboarding as a result of events like the X Games and Street League. In addition, the International Olympic Committee declared skateboarding will be a part of the 2021 Summer Olympics in 2019. Additionally, graphics are crucial in boosting consumer adoption of skateboards. Customers' preferences for cool and appealing artwork on the boards, especially among teens, have increased interest in riding on these boards. As a result, businesses use successful marketing strategies to make their brands well-known on skateboards. To generate efficient sales, businesses also use a variety of catchphrases and market-popular keywords. Teenagers are becoming more and more attracted to these activities as a result of social media. Additionally, younger generations, including Generation Z, are increasingly taking up fresh sports, which is helping to develop new markets for various types of skateboards. However, the State of Skate claims that Generation Z is unfaithful to any brand or activity. Therefore, in order to keep their interest in the activity, businesses aim for larger strategic initiatives.

Skateboard sales are expanding, but the popularity of scooters is increasing, which is a concern. As opposed to skateboards, scooters are more likely to be preferred by young people. Additionally, because of the rising amount of injuries brought on by the sport, consumers are choosing other sports as a safety precaution. To achieve popularity in innovation and grow their market share for skateboards, businesses develop ongoing efforts and strategies. For instance, Dior debuted its winter collection on a ramp of neon-colored skateboards during Paris Fashion Week in 2019. Additionally, skateboard iconography is used by a number of fashion designers and businesses. For instance, Jim Phillips, the designer of Santa Cruz Skateboards, became well-known in the California market. Additionally, well-known businesses fund athletes to help them sell their goods. For instance, Eric Koston, Paul Rodriguez, and Sean Malto are well-known skateboarders who have received sponsorship from companies like Nike, Inc., PepsiCo, and Mountain Dew. As a result, the brand has gained popularity and prominence in the skateboard market.

US Skateboard Market is poised to grow at a sustainable CAGR for the next forecast year.