China Skateboard Market Research Report, 2028

China Skateboard Market Research Report, 2028

Actual Market Research 31-12-2022 64 Pages Figures : 5 Tables : 13 Region : Asia-Pacific Country : China Category : Consumer Goods & Services Leisure

Skateboarding’s popularity in China is expected to grow significantly due to the health benefits associated with it, which is expected to increase product demand between 2023 and 2028. The growth of this China market is being driven by rising disposable income and increasing awareness about skateboarding in China. As the name suggests, a skateboard is a narrow board attached to small wheels at both ends. The deck is a flat board on which the rider stands while skateboarding, and it can be made of maple wood, aluminum, composites, nylon, foam, fiberglass, and other materials. The truck is a T-shaped metal piece that holds the skateboard wheels to the deck. Skateboarding is helpful in relieving stress and enhancing flexibility and the shape of the body. 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, "China Skateboard Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 159.20 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 China 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 China 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 electric skateboards and rapid technological advancements are some key factors expected to continue to drive market growth in the country. 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.

Since skateboarding was chosen as the official sport of the Tokyo Olympics 2021, it has evolved from a part of street culture to a professional sport. In 2016, the Social Sports Center of the State General Administration of Sports was tasked with forming a team to participate in the competition. On July 26, 16-year-old Zeng Wenhui got sixth place in the women’s skateboarding street-style finals of the Tokyo Olympics. She was also the first Chinese skater to appear in the Olympic skateboarding arena. It sparked interest from Chinese citizens in skateboarding products. Moreover, people started searching for the keyword "skateboard" more during the Olympics, proving growing awareness about this sport.

As per World Bank, The population of China was 1.41 Billion in 2021, of which 721,140,373 were male and 691,219,627 were female. Of the total population, 249,536,785 are under the age of 14. The population with an age range of 15–64 is 977,101,360. The urban population is 882,894,483 and the rural population is 529,465,517. China's GDP in 2021 was USD 17.73 Trillion and the per capita income was US $12,556.3. The increasing Youth Population and the rising popularity of skateboarding among teenagers are major factors in the growth of the Skateboard Market in China.

Though foreign brands have certainly found success in the market, domestic Chinese brands are not to be overlooked. In 2021, sportswear giant Li-Ning debuted a skate line led by veteran pro skateboarder Erik Ellington, whose influence and experience in the sport promise the beginning of a fruitful long-term collaboration with the brand. Other regional skateboard companies hoping to expand their consumer base branch out with enticing pop-ups and events, for example with Hong Kong-based 8Five2’s launch – complete with an indoor skate park — at the K11 Musea shopping center last summer. And last month, Tmall Global launched the “Summer Skateboard Program” ahead of the Hangzhou 2022 Asian Games, in addition to collaborations with overseas skateboard groups and street fashion labels.

Skateboarding is a culture, a way of life, and of course a big industry. The sport has been in China for more than 20 years. Over the last few years, street cultures such as rap, hip hop dance, and skateboarding have flourished in China, and fashion brands such as Nike, Vans, and Palace have become the mainstream. In recent years, in 2019 the number of skateboarders in China reached 2 million. Starting as a niche sport, it managed to become a promising market. The offline sector led the market in terms of distribution channels due to the massive presence of retail establishments across the country. Hero Skate, Volcano Skate, HKIT skateboard Shop, and Li-Ning are some China skateboard retailers. Due to growing internet penetration, convenience, time savings, and other factors, the online category is expected to grow significantly during the projected period.

Covid-19 Impacts:
The coronavirus pandemic has placed tremendous pressure on businesses and sectors across China. Governments from all countries have implemented a lock-up to detect the spread of infectious diseases. The contribution of these regulations has created a negative impact on the market. Public transportation restrictions and the disruption caused by the lockdown would be detrimental to the market. Most of the sectors are not functioning properly due to the influence of COVID-19, which has had an adverse impact on the China skateboard market. However, changes in consumer preference and growing awareness regarding various sports are expected to boost market growth during the forecast period.

Considered in this report
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• China 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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