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Street Skateboards Accessory Market Size Worth $275.2 Million By 2027 | Grand View Research, Inc.
https://www.grandviewresearch.com/industry-analysis/street-skateboards-accessories-market
Among the various skateboards available, longboards witness maximum modifications and developments. For instance, Edgetrak, a military-grade tracking technologies designer and manufacturer, in collaboration with performance board producer Wefunk, offered the first telemetry-enabled racing prototype longboard called Mach 1, which is the world's first deck with built-in telemetrics. The longboard has been designed with seven layers of Formula One grade carbon fiber with an Airex and Ash core. The product offers unmatched rigidity owing to the center channel with carbon fiber inlay. Thus, significant technical developments in the product category have resulted in the rising adoption of the product, thereby incurring strong growth prospects.
In terms of product, decks held a dominant position in the market in 2019. An increasing number of major international competitions such as Street League Skateboarding, World Cup Skateboarding, and World Skate Oceania Street Championship, which include a street skateboarding event, is foreseen to create an optimistic outlook for the demand for street skateboard decks over the forecast period.
The direct selling segment dominated the market and accounted for a revenue-based share of 82.3% in 2019. An increasing number of street skateboard accessories companies have also started selling skateboard decks, apparel, and shoes through their own websites or listing products on third-party e-commerce sites. This not only helps companies establish a good relationship with customers by offering them doorstep deliveries but also improves the sellers' profitability margin.
The offline channel segment dominated the market and accounted for a revenue-based share of 76.2% in 2019. Skate shops and sporting goods stores have become a symbol of genuine products, which is foreseen to drive the sales of various street skateboard accessories. In addition, on-demand customization provided by skate shops for decks, wheels, and trucks is foreseen to drive segment growth in the coming years.
North America dominated the market with a revenue-based share of 46.4% in 2019. The proliferation of streetwear across high streets in North America has been pronounced, with many brands enjoying almost cult-like followings. The percentage of skateboarders who prefer the streets the most has been rising significantly, which is likely to present strong growth opportunities for skateboard decks over the forecast period.
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