Mexico Skateboard Market Research Report, 2028

Mexico Skateboard Market Research Report, 2028

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

In Mexico, skating is now seen as more of an activity than just a recreational outdoor sport. Parents encourage their kids to play sports because there are no fees or coaching costs involved. Over the years, there have been a number of new skateboard launches in the industry. During the forecast period, it is anticipated that the Mexican skateboard market will expand. The growth can be attributed to the country's rising disposable income and the number of people who enjoy extreme sports. Due to the growing popularity of electric skateboards among young people, the segment is anticipated to dominate the market in Mexico. 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 growth can be attributed to a number of factors, including increased disposable income, changing lifestyles, and increased awareness of skating's health benefits. Additionally, the introduction of new skateboard designs and models contributes to market growth. Given that it has led to the creation of cutting-edge electrical skateboards with Artificial Intelligence, technological advancement can be a significant factor driving the Mexico market for electric skateboard motors (AI). The Mexico markets for electric skateboard motors are seeing an increase in the popularity of skateboards with connected features like Bluetooth, Wi-Fi, and infrared connections. When artificial intelligence is used in electric skateboard motors, riders will have better control over speed and handling in less time and with greater efficiency. The market for electric skateboard motors is becoming more and more appealing thanks to constant technological advancements. According to the research report, "Mexico Skateboard Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 33.28 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 Mexican 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 Mexico 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. As per World Bank, the population of Mexico was 126,705,138 in 2021, of which 61,856,137 were male and 64,849,001 were female. Of the total population, 31,616,904 are under the age of 14. The population with an age range of 15–64 is 84,782,496. The urban population is 102,651,435 and the rural population is 24,053,703. Mexico's GDP in 2021 was USD 1.27 Trillion. The increasing Youth Population and the rising popularity of skateboarding among teenagers are major factors in the growth of the Skateboard Market in Mexico. The demand for eco-friendly transportation modes has also been boosted by a rise in the tendency to reduce environmental pollution and government regulations for doing away with petroleum-based transportation and related products. Due to this, there is an increasing demand for electric skateboards, which in turn will propel the Mexican market for electric skateboard motors to expand over the ensuing years. However, the market for electric skateboard motors is likely to be constrained by their high cost as a result of using advanced technology. Another factor that could have a negative effect on the Mexican market for electric skateboard motors is the affordability of traditional skateboards in comparison to electric skateboards. The offline sector led the market in terms of distribution channels due to the massive presence of retail establishments across the country. Crooked Soul Skate, MX Skate, Faith Skate, OmniRoller, and Omniroller Coapa are some Mexico 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 Mexico. 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: Mexico • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Mexico 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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