Cycling And Skateboarding Equipment Market Research, 2033
Market Introduction and Definition
The global cycling and skateboarding equipment market was valued at $70.5 billion in 2023, and is projected to reach $173.8 billion by 2033, growing at a CAGR of 9.5% from 2024 to 2033. The cycling and skateboarding equipment market encompasses a wide range of products designed for both recreational and competitive use. This includes bicycles, skateboards, protective gear, maintenance tools, and accessories such as helmets, pads, and clothing. The market is driven by a growing interest in outdoor activities, health and fitness trends, and the rise of eco-friendly transportation alternatives. Technological advancements and innovative designs are also propelling market growth, offering consumers enhanced safety, performance, and convenience. As urbanization increases and infrastructure for cycling and skateboarding improves, the market is poised for further expansion, catering to diverse consumer needs and preferences.
Key Takeaways
The cycling and skateboarding equipment market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Billion) for the projected period 2024-2033.
More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major cycling and skateboarding equipment industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
Key market dynamics
The growing popularity of electric bikes significantly increases the demand for the cycling and skateboarding equipment market. E-bikes offer a more accessible and efficient alternative to traditional bicycles, appealing to a broader demographic, including commuters and older adults. Their eco-friendly nature aligns with the increasing global emphasis on sustainability and reducing carbon footprints, further driving adoption. As more people turn to e-bikes for their convenience and cost-effectiveness, the demand for related equipment such as helmets, protective gear, and maintenance tools surges. This trend is amplified by advancements in battery technology, making e-bikes more affordable and reliable, thereby expanding their market presence and stimulating the overall cycling and skateboarding equipment market growth.
However, the high costs of premium equipment act as a significant restraint on the cycling and skateboarding equipment market demand. Top-tier bicycles, skateboards, and associated accessories often come with hefty price tags due to advanced materials, innovative design, and cutting-edge technology. These elevated prices can deter potential consumers, especially casual riders and beginners, from investing in high-end products. In addition, the economic disparity in various regions exacerbates this issue, making premium equipment unaffordable for a large segment of the population. This financial barrier limits cycling and skateboarding equipment market size as consumers may opt for cheaper, lower-quality alternatives or abandon the pursuit altogether, thereby slowing the expansion of the cycling and skateboarding equipment market.
Moreover, the integration of AI and IoT technologies is creating substantial opportunities in the cycling and skateboarding equipment Market Share. Smart bikes and skateboards equipped with IoT sensors and AI capabilities offer enhanced safety, performance tracking, and connectivity, appealing to tech-savvy consumers. These innovations enable real-time data collection and analysis, providing users with insights into their riding patterns, health metrics, and maintenance needs. Further, AI-driven features like route optimization and crash detection improve the overall riding experience, attracting a broader audience. As technology continues to advance, manufacturers are likely to develop even more sophisticated equipment, further driving market growth and differentiating their products in a competitive landscape.
Country With More Bicycles Than Cars
Denmark is the country with more bicycles than cars. In Copenhagen, for example, there are 13, 000 more vehicles on two wheels than cars. 41% of the daily trips to the Danish capital are made by bicycle. Because they understand this, the authorities first stop the bicycle tracks, then the streets. Many middle-class citizens with children in Copenhagen do not even have a car, " it said on the official website of the country. Overall, Denmark has over 12, 000 kilometers of bicycle tracks, and other countries have a lot to learn from Danish officials. The popularity of bicycles began to grow after 1892 when the first track in Copenhagen was inaugurated. Over the next 15 years, the infrastructure for this means of transport and the number of bicycles has seen spectacular growth: it has reached just 2, 500 bikes to over 80, 000, according to www.techinsider.io.
Market Segmentation
The cycling and skateboarding equipment market is segmented into type, distribution channel, and region. On the basis of type, the market is divided into skin suit, wrist guards, protective helmet, knee pads, mouth guard, others. As distribution channel, the market is segregated into sport shops, online retail, departmental stores, others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Regional/Country Market Outlook
North America holds a major share in the cycling and skateboarding equipment market forecast, driven by a well-established culture of outdoor sports and fitness. The presence of key manufacturers, coupled with high consumer spending power, fuels market growth in this region. Europe follows closely, with a strong emphasis on sustainable transportation and extensive cycling infrastructure supporting market expansion. The Asia-Pacific region is also emerging as a significant player, particularly in countries like China and Japan, where increasing urbanization and rising disposable incomes are boosting demand. Each region's unique blend of cultural, economic, and infrastructural factors shapes its market outlook, with North America currently leading the way.
Industry Trends:
The cycling and skateboarding equipment market is witnessing several notable trends. For instance, the figure remained 25% up on 2021 and around three-fold pre-Covid year tallies. 990, 000 e-bike units were imported in 2023, with a larger share of sales going via supermarket type channels than you'll see in Europe. In addition, On January 29, Hidalgo revealed that the space required to make Paris cyclist-friendly would mostly come at the expense of motoring. Under her plans, Paris was to remove 72% of its on-street car parking spaces.
Skateboarding is really a U.S. sport, but skateboard culture is exploding worldwide. More than half of all U.S. skaters live in California, and more than 75% are under 18. With these numbers, it is the 6th most popular sport globally.
During France’s 46-day transit strike in 20222, many strap-hangers switched to cycling, doubling the number of cyclists on the roads of Paris. And some months after the strike the numbers of those who carried on cycling remained high, with a 131% year-on-year rise in the number of cyclists.
Competitive Landscape
The major players operating in the cycling and skateboarding equipment market include Fuji Bikes, Endura Ltd, Element Skateboards, SCOTT Sports SA, Almost Skateboards, Zero Skateboards., Plan B, GT Bicycles, DT SWISS, Alien Workshop.
Recent Key Strategies and Developments
In September 2023, Fuji Bikes introduced the Jari Carbon, an advanced gravel bike designed for a variety of terrains. The bike is noted for its versatility and performance enhancements
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
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cycling and skateboarding equipment market analysis from 2024 to 2033 to identify the prevailing cycling and skateboarding equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the cycling and skateboarding equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global cycling and skateboarding equipment market trends, key players, market segments, application areas, and market growth strategies.
Cycling And Skateboarding Equipment Market Report Highlights
| Aspects | Details |
 Market Size By 2033 | USD 173.8 Billion |
 Growth Rate | CAGR of 9.5% |
 Forecast period | 2024 - 2033 |
 Report Pages | 180 |
 By Type |
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 By Distribution Channel |
|
 By Region |
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 Key Market Players | SCOTT Sports SA, Alien Workshop, Plan B, Endura Ltd, DT Swiss AG, Fuji Bikes, GT Bicycles, Inc., Element Skateboards, Almost Skateboards, Zero Skateboards |
Key trends in the global cycling and skateboarding equipment market include increased demand for electric bikes and smart gear with integrated technology. There's also a growing focus on sustainable and eco-friendly materials in manufacturing, as well as customizable and multifunctional equipment to cater to diverse consumer preferences and urban mobility needs.
The leading application of the cycling and skateboarding equipment market is recreational and sports use. This includes equipment for casual riders, fitness enthusiasts, competitive athletes, and urban commuters seeking alternative transportation methods.
North America is the largest regional market for Cycling and Skateboarding Equipment.
The global cycling and skateboarding 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.
The Fuji Bikes, Endura Ltd, Element Skateboards and SCOTT Sports SA are the top companies to hold the market share in Cycling and Skatebording Equipment.
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