The global cycling and skateboarding equipment market is
experiencing significant growth driven by several factors.
Increasing health and fitness awareness encourages more individuals
to take up cycling and skateboarding as regular physical
activities. Urbanization and the need for eco-friendly
transportation alternatives boost demand, as bicycles and
skateboards provide sustainable solutions to urban mobility
challenges. Technological advancements, such as the integration of
smart features and improved materials, enhance user experience and
safety, further attracting consumers.
WILMINGTON, Del., Aug. 15,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Cycling And Skatebording Equipment
Market Size, Share, Competitive Landscape and Trend
Analysis Report, by Type, by Distribution Channel: Global
Opportunity Analysis and Industry Forecast, 2024-2033".
According to the report, The global cycling and skatebording
equipment market was valued at $70.5
billion in 2023, and is projected to reach $173.8 billion by 2033, growing at a CAGR of 9.5%
from 2024 to 2033.
Download Sample Pages of Research Overview:
https://www.alliedmarketresearch.com/request-sample/A06333
Prime determinants of growth
The prime determinants of growth for the cycling and
skateboarding equipment market include increased health and fitness
awareness, technological advancements, urbanization, and
eco-friendly transportation trends. In addition, supportive
government policies, improved infrastructure, and the rising
popularity of electric bikes and smart skateboards are driving
market expansion. Consumer preferences for sustainable and
high-performance equipment further increase market growth.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size in
2023
|
$70.50
Billion
|
Market Size in
2033
|
$173.8
Billion
|
CAGR
|
9.5 %
|
No. of Pages in
Report
|
180
|
Segments
Covered
|
• Type,
Distribution channel, and Region.
|
Drivers
|
• Growing
popularity of electric bikes
• Rise of smart
and connected devices in cycling gear
• Customization
and personalization options
|
Opportunities
|
• Integration of
AI and IoT technologies
• Growth in urban
mobility solutions
|
Restraint
|
• High costs of
premium equipment
• Competition
from other recreational activities
|
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Tables, and Figures):
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Segment Highlights
By type, protective helmets hold the maximum share in the
cycling and skateboarding equipment market owing to its critical
role in preventing severe head injuries. The high incidence of
head-related injuries in these sports necessitates the use of
helmets, which are often legally mandated and strongly recommended
by safety organizations. Helmets are designed to absorb impact and
protect the skull, significantly reducing the risk of traumatic
brain injuries. The widespread awareness of these safety benefits,
coupled with robust educational campaigns and stringent
regulations, drives their predominant usage. In addition,
advancements in helmet technology, such as improved materials and
ergonomic designs, have increased consumer acceptance and comfort,
further solidifying their dominance in the market
By distribution channel, online retail holds the major share in
the distribution of cycling and skateboarding equipment. This
dominance is driven by several factors, including the convenience
and vast product selection available to consumers through online
platforms. E-commerce websites allow customers to easily compare
prices, read reviews, and access a wider range of products than
traditional brick-and-mortar stores. The rise of major online
retailers like Amazon, alongside specialized sports e-commerce
platforms, has significantly boosted online sales. In addition, the
ability to offer competitive pricing and frequent discounts online
further attracts a larger customer base. Consequently, the online
retail segment has become the preferred shopping channel for many
consumers looking for cycling and skateboarding equipment
Regional outlook
North America holds a
significant share in the cycling and skateboarding equipment market
owing to its robust outdoor sports culture and high disposable
income levels. The region's well-developed infrastructure,
featuring extensive bike lanes and skate parks, facilitates
widespread participation in these activities. In the U.S., the
number of cyclists rose from 48.88 million in 2018 to 52.73 million
in 2021, according to Statista. This increase highlights the
growing interest in cycling. Furthermore, the region's focus on
fitness and sustainable transportation, coupled with advancements
in equipment technology, drives market growth. Supportive policies
and initiatives, such as bike-sharing programs in major cities like
New York and San Francisco, also contribute to North America's dominant position in the
market.
Players: -
- Fuji Bikes
- Endura Ltd
- Element Skateboards
- SCOTT Sports SA
- Almost Skateboards
- Zero Skateboards.
- Plan B
- GT Bicycles
- DT SWISS
- Alien Workshop
Want to Access the Statistical Data and Graphs, Key Players'
Strategies:
https://www.alliedmarketresearch.com/purchase-enquiry/A06333
The report provides a detailed analysis of these key players in
the global cycling and skatebording equipment market. These players
have adopted different strategies such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain dominant shares in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
Recent Development:
- In January 2020, Endura was
acquired by Pentland Brands, a move
aimed at expanding Pentland's portfolio of active and outdoor
brands.
- In July 2022, SCOTT Sports SA
launched the SCOTT Spark RC in 2021, a high-performance mountain
bike that features integrated suspension and advanced carbon
technology.
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every data presented in the reports published by us is extracted
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methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the
industry.
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