Cycling And Skateboarding Equipment Market By Type (Skin Suit, Wrist Guards, Protective Helmet, Knee Pads, Mouth Guard, Others) , By Distribution Channel (Sport Shop, Online Retail, Departmental Stores, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Cycling and Skateboarding Equipment Market
The 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 comprises of elements required to ensure the safety of individual performing the activities and elevate the riding experience. A wide range of equipment are essential to perform cycling or skateboarding, including bicycles, skateboards, maintenance tools, protective gear, and accessories such as pads, helmets, and suitable clothing. These equipment exist in different sizes and designs that cater to the specific requirement of the riders.
Modifications in lifestyle and rise in awareness toward fitness are the major drivers of the cycling and skateboarding equipment market. Both the activities are gaining notable prominence as a form of exercise. Increase in the popularity of cycling and skateboarding as a recreational activity is boosting the demand for equipment associated with them. Moreover, in several countries, the citizens are switching to cycles as a mode of transport to avoid the traffic congestion. This is significantly propelling the growth of the market. In recent years, the deployment of electrification and smart features has emerged as a key trend in the market. Smart skateboards integrated with sensors for the detection of speed, distance, and movements are gaining popularity. In addition, advanced safety gear such as smart helmets with in-built navigation and LED signaling are redefining the safety measures.
However, the acquisition & maintenance expenses of high-end equipment and devices deters several individuals from investing in them, which hampers the development of the cycling and skateboarding equipment market. Moreover, lack of adequate infrastructure in several countries for cycling and skateboarding, such as dedicated lanes, restrains the market growth. On the contrary, technological innovations in the equipment associated with these activities are projected to enhance the sales and present lucrative growth opportunities for the market. For instance, the soaring popularity of e-bikes is accelerating the market trajectory. In Europe, e-bikes garnered a total of 18% of the total bicycle share in 2019 and by 2023, the share rose to over a quarter.
Segment ReviewThe 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, and others. Depending on distribution channel, it is classified into sport shop, online retail, departmental stores, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the protective helmet segment accounted for a high market share in 2023.
Depending on distribution channel, the online retail segment acquired a major stake in the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe key players operating in the global cycling and skateboarding equipment market include Fuji Bikes, Endura Ltd, Element Skateboards, SCOTT Sports SA, Almost Skateboards, Zero Skateboards, Plan B, GT Bicycles, Inc., DT Swiss AG, and Alien Workshop. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeSkin Suit
Wrist Guards
Protective Helmet
Knee Pads
Mouth Guard
Others
By Distribution ChannelSport Shop
Online Retail
Departmental Stores
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Argentina
Rest of LAMEA
Key Market Players
Fuji Bikes
Endura Ltd
Element Skateboards
SCOTT Sports SA
Almost Skateboards
Zero Skateboards
Plan B
GT Bicycles, Inc.
DT Swiss AG
Alien Workshop