Canada Skateboard Market Research Report, 2028

Canada Skateboard Market Research Report, 2028

Actual Market Research 31-12-2022 64 Pages Figures : 5 Tables : 13 Region : North America Country : Canada Category : Consumer Goods & Services Leisure

The skateboard market in Canada is projected to grow during the forecast period. The growth can be attributed to the increasing number of extreme sports enthusiasts and rising disposable income in the country. The electric skateboard segment is expected to lead the market in Canada, owing to its growing popularity among youngsters. This can be attributed to the increasing number of youngsters taking up skateboarding as a sport and the growing demand for cruiser boards and longboards. The market's expansion can be attributed to a variety of factors, including rising disposable income, changing lifestyles, and increased awareness of the health benefits of skating. Additionally, the introduction of new designs and models of skateboards is also contributing to the growth of the market. Electric skateboards with connected features, such as infrared connections, Wi-Fi, and Bluetooth, are gaining popularity in the global market. Technological advancements are emerging in the development of innovative and AI-powered electric skateboards. It offers riders greater speed control as well as precise handling, allowing them to ride more efficiently in less time. As governments focus more on smartening up their cities, they are looking for viable transportation solutions that can decrease traffic congestion while also creating a cleaner environment for the entire community. According to the research report, "Canada Skateboard Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 20.45 million by the end of 2028. The growing popularity of skateboarding as a recreational activity, as well as the emergence of extreme sports, is expected to boost the Canadian skateboard industry. Furthermore, the rising use of skateboards in schools and colleges as part of physical education curricula is likely to fuel skateboard demand throughout the forecast period. Rapid technological advancements and a rise in disposable income have increased the demand for skateboards. The increasing number of skate parks and competitions is also driving the skateboard market ahead. The skateboarding fad in Canada originated as a result of boredom during the COVID-19 lockdown, but it quickly spread over many parts of the country as one of the fastest-growing. Rising demand for sporting activities among teenagers will boost product demand in the market. The product demand is fueled by the increasing demand for skating as a sport in many countries. Apart from using it as a source of fun, it also provides flexibility and a good physical shape to the body. Furthermore, the inclination towards fitness has resulted in increased outdoor sports activities, which will act as a key factor driving the market over the forecast period. The Government of Canada is committed to supporting Canadians from the playground to the podium and helping the sports community get Canadians active, inspire young people, and bring people together in the spirit of healthy competition. the Honourable Pascale St-Onge, Minister of Sport and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, announced $2,426.500 in funding for Skate Canada for 2022–2023, including $50,000 devoted to safety in sport. The investment will provide the organization with the financial means to conduct its daily operations, promote the sport of figure skating among all Canadians, and support high-performance athletes competing at the national and international levels. The funding includes $150,000 to host the 2022 Skate Canada International in Mississauga, Ontario, from October 28 to 30. All Canadians benefit when our athletes have more opportunities to compete at a world-class level and showcase their skills on the world stage. The 2022 Skate Canada International will do just that and inspire young people to strive for greatness and stay active. Formed in 2016, Canada Skateboard is recognized by the Canadian Olympic Committee, Sport Canada, and World Skate as the official National Sports Federation (NSF) for skateboarding in Canada. Canada Skateboard’s mission is to support, promote, and grow skateboarding in Canada. In addition to that, skateboarding is gaining prominence across Canada. In a nation with a population of a mere 38 million people, there are approximately 900,000 skateboarders throughout its ten provinces and three territories. There are currently more than 517 skate parks in Canada. Support is constantly increasing for public skate parks as more and more communities develop free public skate parks. In contrast to what was going on up until the late 80s, today there are only a handful of distributors running the show in Canada. For that reason, business often gets very competitive. Major distributors like Ultimate Skateboard Distribution, S&J Distribution, Four Star Canada, Timebomb Trading Co., and Centre Distribution, all have both East and West Coast offices. Four Star Canada is based in Whistler, B.C, and K-2 Canada (Planet Earth, Adio), is based in Toronto. Smaller distributors such as Montreal’s Core Distribution (Relik Bearings, Tower Skateboards) are also growing fast. g. West 49 is the largest mall-based skateboard shop chain in Canada. Founded in Ontario in 1995 by Sam Baio, there are now 21 stores across the country, from Alberta to Nova Scotia. Canadian skateboard companies are benefiting from the sport’s growth as well. Max Dufour, Mark Pelland, and Mark Mohammed’s Montreal-based Premium Wood were created in 1998 to offer something unique to skateboarding in terms of board construction, image, and a well-rounded team. Although their Woodchuck Laminates OEM-manufacturing company started in 1996, Dufour says that with Premium they wanted to express that “there is potential for companies to do something outside of California.” The role of social media is crucial in the penetration of novel sports among the last miles of society. The major participants in this sport are the youth segment which remains active on social media where they keep exploring new types and equipment needed for skating. The millennial population is a major follower of sports news channels and sports celebrities on social media platforms which is anticipated to grow the popularity of these sports in the forecast period. Covid-19 Impacts: The coronavirus pandemic has placed tremendous pressure on businesses and sectors across Canada. Various regulations had been put in place by governments to limit seizure. The contribution of these regulations has had a negative impact on the skateboarding industry. The market was harmed by the restrictions on public transportation and the disruption caused by the lockdown. Most of the sectors are not functioning properly due to the influence of COVID-19, which has caused an adverse impact on the overall market. However, an increasing focus on healthy lifestyles owing to the same pandemic is projected to boost the demand for skateboards during the upcoming timeframe. Considered in this report • Geography: Canada • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Canada skateboard market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product: • Street Skateboard • Cruiser Skateboard • Long Skateboard • Electric Skateboard • Others Skateboard By End-User: • Kids • Teenagers • Adults By Distribution Channel: • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the skateboard industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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