In 2022, the global market for skateboard ramps is valued at USD 2.19 billion. The market is expected to grow and reach USD 2.97 billion by the end of 2032. During the forecast period, the market is estimated to increase at a CAGR of 3.1%.
People nowadays are more interested in health awareness and incorporating physical activities into their daily routines than in the past. Skateboarding is popular all throughout the world, despite its origins in the United States. Its little board is set on wheels, and riders must balance and ride it. The game had its Olympic debut in Tokyo in 2020, which is expected to boost popularity during the anticipated period.
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Skateboarding is a recreational activity that includes tricks and riding on the skateboard ramp. The structured sport of skateboarding teaches children bravery while also keeping them engaged and rejuvenated. The skateboard ramp provides a surface for doing various tricks. The number of national and international skating contests is expected to expand in the future years as a result of the impending Paris Olympics in 2024. These games were projected to provide several possibilities for players to qualify for the 2020 Olympics.
Competitive Landscape:
What causes the growth of the skateboard market?
People’s interest in leisure activities and skateboarding promotional events are projected to fuel the growth of the skateboard ramp industry. Tokyo is expected to draw more leisure sports aficionados with the inclusion of skateboarding in the 2020 Summer Olympics. The expansion of the skateboard ramp market is likely to be driven by the promotion of skateboarding through events and contests.
Government expenditures for the building of skate parks and skateboard ramps are expected to contribute to market expansion. The worldwide skateboard ramp market is expected to be driven by young enthusiasts’ and parents’ need for distinct skate parks and skateboard ramps to discourage on-street skating.
Key Players:
- Fearless Ramps
- American Ramp Company
- OC Ramps
- Keen Ramps
- California Ramp Works
- Skatelite
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Regional Analysis:
North America, Europe, Latin America, CIS & Russia, Asia Pacific (APAC), the Middle East, and Africa (MEA) are the regions that make up the worldwide skateboard ramp market. The skateboard ramp market has various growth potential in each divided area. Because of the growing number of skating aficionados and tournaments, North America is predicted to have the largest share of the skateboard ramp market among the categorized regions. During the forecast period, Europe, the CIS, and Russia are likely to have an average share of the worldwide skateboard ramp market.
As the economies in this region continue to rise, Asian markets are poised to redirect the flow of the global sports industry. Although APAC and Latin America do not have a significant market share, they are likely to generate development potential throughout the projection period. Furthermore, promotional events and competitions will attract more skateboard enthusiasts, contributing to the growth of the skateboard ramp market during the forecast period. The European or American grip on the sports business has begun to fade as the sector has gradually and unevenly began to slide out of the hands of western countries. This is expected to offer up lucrative potential for producers in East Asian markets.
Key Segments of Industry:
- By Product :
- Street boards
- Cruiser boards
- Longboard
- By End-user :
- Kids
- Teenagers
- Adults
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