About Skateboarding Equipment
As per Technavio analysts, the global skateboarding equipment market will be driven by a number of growth factors during the forecast period, one of the most important being the increasing interest in different sports activities, including skateboarding. The growing awareness of the sport will also exert a positive influence on the growth of the market over the next five years. Rising popularity of skateboarding tournaments like the X Games, Dew Tour, Boardr Am, and Copenhagen Pro is also indicative of the growth potential of the market. The increasing demand for eco-friendly skateboarding equipment is an emerging trend that will also aid in the growth of the market during the forecast period.
Technavio’s analysts forecast the global skateboarding equipment market to grow at a CAGR of 2.67% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global skateboarding equipment market for 2016-2020. To calculate the market size, the report considers the revenue generated by the different types of skateboarding equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Skateboarding Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global skateboarding equipment market: Alien Workshop, Almost Skateboards, Element Skateboards, Plan B, and Zero Skateboards.
Other Prominent Vendors in the market are: Anti Hero, Baker, Birdhouse Skateboards, Blind Skateboards, Chocolate Skateboards, Dirty Ghetto Kids (DGK), enjoi, Flip Skateboards, Welcome Skateboards, and Zoo York.
Commenting on the report, an analyst from Technavio’s team said: “The availability of specialized products will lead to the strong growth of this market. With the growing interest in skateboarding, vendors today are focusing more on the manufacture of innovative and specialized products. Adding to this is the constant demand and need for better protection techniques and products that would add to the comfort and convenience of the user. Vendors worldwide are coming up with new products for different skateboarding tournaments, which will have an impact on the market dynamics in the next five years.”
According to the report, one driver that will propel growth is the growing skateboarding footwear and apparel market. In the past decade, not many footwear and apparel manufacturers were keen on investing in the global skateboarding equipment market, mostly due to relatively low penetration of the sport in most countries. However, with the growing popularity of skateboarding today, many established companies such as Nike, Adidas, and Converse have started recognizing the growth potential of the market and are now venturing into the skateboarding footwear market.
Further, the report states that the risk of injuries associated with skateboarding will pose a significant challenge for the vendors in this market. The high risk of physical injuries associated with skateboarding is one of the key challenges for the growth of the market. Skateboarding is mostly done by youth belonging to the age group of 17-18 years, and therefore parents can be reluctant to allow their children to participate in such a risky sport. Skateboarding injuries range from minor cuts and bruises to brain injuries. Every year, skateboarding injuries result in approximately 50,000 visits to the emergency department in the US alone, which ultimately lead to more than 1,500 hospitalizations.
Alien Workshop, Almost Skateboards, Element Skateboards, Plan B, Zero Skateboards, Anti Hero, Baker, Birdhouse Skateboards, Blind Skateboards, Chocolate Skateboards, Dirty Ghetto Kids (DGK), enjoi, Flip Skateboards, Welcome Skateboards, and Zoo York.