Brazil Skateboard Market Overview, 2028

Brazil Skateboard Market Overview, 2028

The skateboard market in Brazil is expected to grow during the forecast period. Skateboarding is hugely popular in Brazil, and the South American nation has produced some of the sport's greatest exponents. Brazil won three silver medals at the Tokyo Olympics, more than any other country except Australia and Japan. Skateboarding considered one of the extreme sports is a professional sport with a variety of competitions, including vertical and street-style events. Vertical skating (also called vert) features aerial acrobatics performed in half-pipes that were originally built to emulate empty swimming pools. Street style features tricks performed in a real or simulated urban environment with stairs, rails, ledges, and other obstacles. Skateboarding has developed as a youth subculture that emphasizes creativity and individuality. It is an alternative to mainstream team sports, which are more formally organized and largely controlled by adults. Electric skateboards with connected features, such as infrared connections, Wi-Fi, and Bluetooth, are gaining popularity in the global market. Technological advancements are emerging in the development of innovative and AI-powered electric skateboards. It offers riders greater speed control as well as precise handling, allowing them to ride more efficiently in less time. As governments focus more on smartening up their cities, they are looking for viable transportation solutions that can decrease traffic congestion while also creating a cleaner environment for the entire community.

According to the research report, Brazil Skateboard Market Overview, 2028, published by Bonafide Research, the market is anticipated to add USD 52.61 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 Brazilian 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 Brazil 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. The millennial demographic is expected to continue to follow sports news networks and sports stars on social media.

World Skateboarding Grand Prix (WSGP), the leading international skateboarding events management company, had announced plans to expand into South America in 2017 with National Championship events in 10 countries leading up to the first-ever South American Skateboarding Championships in September 2017. The 10 National Championship events were hosted in Brazil, Colombia, Argentina, Peru, Venezuela, Chile, Ecuador, Bolivia, Paraguay, and Uruguay. South America is the next hotbed for skateboarding, and the time is right to build out the infrastructure for a series of national championships leading up to the biggest skateboarding contest ever held in South America: the South American Championships. Brazil is one of the largest countries in South America. With a larger area, its long coastline borders the Atlantic Ocean, while its interior encompasses almost half of the Amazon rainforest. Brazil’s 171 million inhabitants are spread among 26 states and one federal district, and the majority are found in the southern cities of Sao Paulo and Rio de Janeiro. To the west and north, Brazil borders Argentina, Bolivia, Colombia, Guyana, French Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela. The majority of Brazil's one million skaters live in So Paulo, which has more skate parks, media, and all the opportunities that a great city can provide.

As per World Bank, The population of Brazil was 214,326,223 Billion in 2021, of which 105,291,292 were male and 109,034,931 were female. Of the total population, 44,024,037 are under the age of 14. The population with an age range of 15–64 is 149,767,451. The urban population is 187,143,228 and the rural population is 27,182,995. Brazil's GDP in 2021 was USD 1.61 Trillion and the per capita income was US $7,507.2. The increasing Youth Population and rising popularity of skateboarding among teenagers are major factors for the growth of the Skateboard Market in Brazil.

The offline sector led the market in terms of distribution channels due to the massive presence of retail establishments across the country. Pressure Skate, Matriz Skateshop, Matriz Skate, Ambiente Skate, da Batata Skate, and Bizarro's skateboard are some Brazil 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 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 Brazilian 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 global market for electric skateboard motors is the affordability of traditional skateboards in comparison to electric skateboards.

Covid-19 Impacts:
The coronavirus pandemic has placed tremendous pressure on businesses and sectors across Brazil. Governments from all countries have implemented a lock-up to detect the spread of infectious diseases. The contribution of these regulations has created a negative impact on the market. Public transportation restrictions and the disruption caused by the lockdown would be detrimental to the market. Most of the sectors are not functioning properly due to the influence of COVID-19, which has had an adverse impact on the Brazilian skateboard market. However, changes in consumer preference and growing awareness regarding various sports are expected to boost market growth during the forecast period.

Considered in this report
• Geography: Brazil
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Brazil 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.