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Street Skateboards Accessories Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global street skateboards accessories market was valued at USD 8.2 billion in 2022 and is projected to expand at a CAGR of 6.5% from 2023 to 2030. The street skateboard accessories market is expected to witness significant growth owing to the increasing popularity of street skateboarding among young people. The growing interest in street skateboarding has led to an increase in demand for street skateboard accessories, such as wheels, bearings, trucks, decks, and grip tapes.
Manufacturers are introducing innovative products to enhance their product portfolio and attract more customers. For instance, in October 2021, Skate One Corporation, a manufacturer of skateboard hardware and accessories, introduced a new range of wheels and bearings designed to give skateboarders a smoother ride. The products are designed to offer riders more control and better response while performing tricks and stunts.
Rising popularity of extreme sports, such as street skateboarding, is a major factor driving the market. Street skateboarding is becoming increasingly popular as a leisure activity among youth, which is boosting the demand for street skateboard wheels, decks, and grip tapes. Furthermore, celebrity endorsements are also playing a key role in driving the growth of the market. For instance, in February 2022, the world-famous skateboarder Tony Hawk endorsed a new range of street skateboard wheels from Skate One Corporation.
The increasing trend of customization is also driving the growth of the market. Manufacturers are introducing customization options for street skateboard accessories, such as decks and grip tapes. For instance, in April 2021, Skate One Corporation launched a new range of custom decks and grip tapes, allowing customers to personalize their skateboards according to their preferences. The increasing availability of customization options is driving the market growth.
In addition, the increasing popularity of online shopping is driving the market. The availability of street skateboard accessories on online platforms, such as Amazon and eBay, is boosting their sales. Moreover, the growing popularity of e-commerce platforms is encouraging manufacturers to launch their products online, which is driving the market growth. Furthermore, the availability of discounts and offers on online platforms is driving more customers to purchase street skateboard accessories online.
Product Insights
The street skateboard accessories market is expected to witness a robust CAGR of 7.1% over the forecast period. Street skateboard accessories are gaining traction among millennials, globally, as these accessories make skateboarding more liberating and convenient. Increasing popularity of skateboarding as a hobby or an extreme sport, growing trend of urban sports, and the introduction of new street skateboard accessories are some of the major factors driving the market. According to an article published by the Skateboarding Research Network, in 2020, the global skateboarding market was estimated at USD 5.2 billion and is expected to grow significantly over the forecast period.
The wheels segment is expected to witness the fastest CAGR of 7.8% over the forecast period. Street skateboard wheels are available in a variety of sizes and colors and are used to provide smooth rides and acceleration on different surfaces. The increasing popularity of street skateboarding and the growing demand for longboard skateboards are expected to drive the demand for wheels in the near future. Furthermore, the introduction of new skateboard wheels with advanced features such as long-lasting, shock-absorbing, and high-grip materials is anticipated to drive the market growth.
Distribution Channel Insights
The skate shops segment captured the major share of over 41.5% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards skate shops as a primary source to purchase skateboard accessories. According to a study by Skateboarder Magazine in 2020, skateboarders are more likely to buy street skateboard accessories from local skate shops as they offer a better range of products, expert advice, and a variety of customization options. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for their required accessories.
The online segment is anticipated to expand at the highest CAGR of 12.7% over the forecast period. E-commerce development in the skateboard accessories industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in December 2022, Sk8ology launched an online store, offering a wide range of skateboard accessories and tools. In addition, it will also offer the best brands and products for skateboards along with expert advice and opinions on choosing the best accessories.
Type Insights
The protective gear segment accounted for the largest revenue share of 42.0% in the year 2022. The increasing awareness about safety and the rising importance of safety gear usage in extreme sports activities such as skateboarding has increased the demand for protective gear. Moreover, the rise in the number of extreme sports activities, especially among the youth population, is leading to increased demand for protective gear. Companies such as Volcom, Inc. and Dwindle Distribution, Inc. are focusing on providing innovative and protective gears for skateboarders. For instance, in June 2021, Volcom, Inc. launched a new collection of skateboarder’s protective gear, which includes helmets, elbow and knee pads, and wrist guards.
The skateboard accessories segment is anticipated to expand at the highest CAGR of 8.4% over the forecast period. The increasing trend of customization of skateboards is driving the demand for skateboard accessories such as wheels, bearings, trucks, and decks. Moreover, the rise in the number of skateboard competitions and events across the world is also driving the demand for skateboard accessories. For instance, in 2021, the International Skateboarding Federation (ISF) organized the first World Skateboarding Championship in Xiamen, China, which had more than 200 skateboarders from around the world participating in the event.
Regional Insights
Europe held a significant market share in 2022, owing to the presence of various renowned skateboard brands in the region. The increasing number of skateboarders, especially in the U.K., Spain, Germany, and France, is providing a major boost to the regional market growth. For instance, in April 2022, Sk8ology, a U.K.-based skateboard accessories manufacturer, launched a range of skateboard wall mounts and display cases.
Asia Pacific is expected to witness the fastest growth in the coming years. The rising popularity of skateboarding and the growing number of skate parks in countries such as China and India are expected to drive the market growth in the region. Additionally, the increasing availability of customized skateboard accessories, such as boards, trucks, and wheels, is further expected to fuel the demand for street skateboard accessories. For instance, in June 2021, The Boardr, a China-based skateboard accessories manufacturer, launched the ‘Starboard’, a board designed for street skateboarding.
Financial Projections
In this part of the street skateboards accessories products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a street skateboards accessories products business comes from the sale of skateboard accessories, such as wheels, trucks, bearings, grip tape, and other components. Additionally, you may be able to generate income from sponsorship deals, the sale of merchandise, and services such as skateboard lessons, customizations, and repairs.
Projecting Expenses
In this section, all the regular expenses related to keeping the street skateboards accessories business running will be described. The list of operating expenses includes rent, staffing, inventory, advertising, utilities, maintenance and repairs, insurance policies, and others. Additionally, you will have to factor in the cost of purchasing skateboard accessories and any other supplies that you may need.
Key companies & market share insights
Some of the key companies operating in the street skateboard accessories market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Powell Peralta launched a new range of skateboard decks, trucks, and wheels for street skateboarding.
– In August 2022, Independent Trucks launched a new range of skateboard trucks with an improved turning radius.
– In October 2022, Spitfire Wheels launched a new range of skateboard wheels designed to provide better grip on the streets.
Some of the prominent players in the street skateboard accessories market include:
– Powell Peralta
– Independent Trucks
– Spitfire Wheels
– Santa Cruz Skateboards
– Bones Wheels
– Darkstar Skateboards
– OJ Wheels
– Krooked Skateboards
– Mob Grip
– Toy Machine Skateboards
Global Street Skateboards Accessories Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global street skateboards accessories market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Decks
– Trucks
– Wheels
– Bearings
– Risers
– Grip Tapes
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– High End
– Mid Range
– Low End
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global street skateboards accessories market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Decks
– Trucks
– Wheels
– Bearings
– Risers
– Grip Tapes
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– High End
– Mid Range
– Low End
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Applications of Street Skateboards Accessories?
[A]: Street skateboards accessories are used in extreme sports, casual riding, and leisure activities. The increasing popularity of street skateboarding, along with the growing trend of people taking up extreme sports and the rise in leisure activities, is expected to drive the demand for these accessories.
[Q]: Who are the Major Players in the Street Skateboards Accessories Market?
[A]: The major players in the street skateboards accessories market include Element Skateboards, Globe International Ltd., Vans, Inc., Plan B Skateboards, Powell-Peralta, Inc., and Almost Skateboards.
[Q]: What are the factors driving the street skateboards accessories market?
[A]: The increasing popularity of extreme sports such as skateboarding and snowboarding, the growing trend of leisure activities, and the rising disposable income of young adults are the key factors driving the street skateboards accessories market.
[Q]: What are the Key Opportunities for Street Skateboards Accessories?
[A]: The increasing number of skateparks and the availability of branded apparels and skateboards are expected to create opportunities in the street skateboards accessories market. Additionally, the rising demand for high-quality skateboard components from professional and amateur riders is expected to create further opportunities.
[Q]: What are the Challenges Facing the Street Skateboards Accessories Market?
[A]: The high cost of skateboard components and the high cost of skateboard repair are some of the key challenges facing the street skateboards accessories market. Additionally, the availability of counterfeit products is also expected to hamper the growth of the street skateboards accessories market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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