Colombia Skateboard Market Research Report, 2028

Colombia Skateboard Market Research Report, 2028

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

The popularization of sports and the vastly increased attractiveness of recreational activities in the Colombian market are two major factors propelling the international electric skateboard market. Electric skateboards are faster than conventional skateboards and provide better control, making them a popular alternative for skating sports in places like Colombia. Furthermore, the use of electric skateboards has gained them a following among people of all ages all over the Country. Because of their small size and ease of use, electric skateboards are becoming increasingly prevalent as a form of private transportation. Furthermore, the high speed of electric skateboards saves time, which is a major factor contributing to the worldwide demand for electric skateboards. 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, "Colombia Skateboard Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 9.57 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 Colombian 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 Colombia 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. Further, South America became home to multiple skate hubs, and today many of its countries host competitions and tours regularly. Mar del Plata (Argentina), Lima (Peru), Medellin (Colombia), the Galapagos Islands (Ecuador), and Florianopolis (Brazil) are some of the popular skate spots in South America. Additionally, more than 110 volunteer skateboarders from 15 countries joined up to construct a 1,200 m2 skateboarding hotspot in La Paz, Bolivia. Located at 3,600 meters above sea level, it’s not only one of the biggest destinations for skateboarders in South America; it’s also the highest in the whole world. Pereira is the biggest skate park in Colombia. This skate park features approximately 6,400 square meters of obstacles for skateboard, roller skating, and BMX enthusiasts. World Skateboarding Grand Prix (WSGP), the leading international skateboarding events management company, had announced plans to expand into South America in 2017 with National Championship events in 10 countries leading up to the first-ever South American Skateboarding Championships in September 2017. The 10 National Championship events were hosted in Brazil, Colombia, Argentina, Peru, Venezuela, Chile, Ecuador, Bolivia, Paraguay, and Uruguay. South America is the next hotbed for skateboarding, and the time is right to build out the infrastructure for a series of national championships leading up to the biggest skateboarding contest ever held in South America: the South American Championships. As per World Bank, The population of Colombia was 51,516,562 Billion in 2021, of which 25,415,242 were male and 26,101,321 were female. Of the total population, 11,125,504 are under the age of 14. The population with an age range of 15–64 is 35,898,966. The urban population is 42,109,638 and the rural population is 9,406,924. Colombia's GDP in 2021 was USD 314.46 Billion and the per capita income was US $6,104.1. The increasing Youth Population and the rising popularity of skateboarding among teenagers are major factors in the growth of the Skateboard Market in Colombia. The offline sector led the market in terms of distribution channels due to the massive presence of retail establishments across the country. Decks Skate, Skate Shop Bunker, Longboard Colombia, Costal De Anzuelos, and Royal Skate Shop are some Colombia 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. The growing popularity of electric skateboards in developed countries is expected to create lucrative opportunities during the forecast period. The introduction of skateboarding in different international tournaments like the Olympics is expected to increase popularity and generate new prospects for the market over the forecast period. When compared to electric skateboards, traditional skateboards are more inexpensive on the market. Furthermore, the use of sophisticated technology in electric skateboard motors comes at an additional cost. This is presumed to stymie the electric skateboard market. The absence of electric skateboard laws may have a detrimental effect on the market's growth. Legislators are concerned about the product's uncertainty and the lack of data on how these vehicles are used. Covid-19 Impacts: The coronavirus pandemic has placed tremendous pressure on businesses and sectors across Colombia. 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 Colombia 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: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Colombia 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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