The skateboard market in Argentina is projected to grow during the forecast period. The growth can be attributed to the increasing number of extreme sports enthusiasts and rising disposable income in the country. The electric skateboard segment is expected to lead the market in Argentina, owing to its growing popularity among youngsters. This can be attributed to the increasing number of youngsters taking up skateboarding as a sport and the growing demand for cruiser boards and longboards. The market's expansion can be attributed to a variety of factors, including rising disposable income, changing lifestyles, and increased awareness of the health benefits of skating. Additionally, the introduction of new designs and models of skateboards is also contributing to the growth of the Argentina skateboard market. 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, "Argentina Skateboard Market Overview, 2028," published by Bonafide Research, the market is anticipated to add USD 5.88 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 Argentina 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 Argentina 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. Rising demand for electric skateboards and rapid technological advancements are some key factors expected to continue to drive market growth in the country. Rising demand for sporting activities among teenagers will boost product demand in the market. The product demand is fueled by the increasing demand for skating as a sport in many countries. Apart from using it as a source of fun, it also provides flexibility and a good physical shape to the body. Furthermore, the inclination towards fitness has resulted in increased outdoor sports activities, which will act as a key factor driving the market over the forecast period.
Further, South America became home to multiple skate hubs, and today many of its countries host competitions and tours regularly. Mar del Plata (Argentina), Lima (Peru), Medellin (Colombia), the Galapagos Islands (Ecuador), and Florianopolis (Brazil) are some of the popular skate spots in South America. Additionally, more than 110 volunteer skateboarders from 15 countries joined up to construct a 1,200 m2 skateboarding hotspot in La Paz, Bolivia. Located at 3,600 metres above sea level, it’s not only one of the biggest destinations for skateboarders in South America; it’s also the highest in the whole world.
As per the World Bank, Argentina had a GDP of 45,808,747 billion in 2021, of which 22,678,199 were men and 23,130,548 were women. Of the total population, 10,699,429 are under the age of 14. The population with an age range of 15–64 is 29,693,851. The urban population is 42,248,949, and the rural population is 3,559,798. Argentina's GDP in 2021 was USD 487.23 billion, and the per capita income was USD $10,636.1. The increasing youth population and the rising popularity of skateboarding among teenagers are major factors in the growth of the skateboard market in Argentina.
Social media has increasingly evolved as a primary source for teenagers to become attracted to these sports. Moreover, the increasing adoption of newer sports by new generations such as Generation Z is playing a vital role in creating emerging markets for a variety of skateboards. Furthermore, graphics play a vital role in increasing the adoption of skateboards by consumers. The increasing inclination of consumers, particularly teenagers, towards funky and attractive graphics displayed on the boards has increased their interest in riding on these boards. The offline sector led the market in terms of distribution channels due to the massive presence of retail establishments across the country. Sportfanatic Skate & Longboard Shop, DTS Skateshop, Tree Skate Shop, Faction Core Shop, Shine Skateshop, Santa Skateshop, Banga Boards, Nativo Skateshop, and Streetway Argentina Skate Shop are some Argentina 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 growing popularity of electric skateboards in developed countries is expected to create lucrative opportunities during the forecast period. The introduction of skateboarding in different international tournaments like the Olympics is expected to increase popularity and generate new prospects for the market over the forecast period. When compared to electric skateboards, traditional skateboards are more inexpensive on the market. Furthermore, the use of sophisticated technology in electric skateboard motors comes at an additional cost. This is presumed to stymie the electric skateboard market. The absence of electric skateboard laws may have a detrimental effect on the market's growth. Legislators are concerned about the product's uncertainty and the lack of data on how these vehicles are used.
The coronavirus pandemic has placed tremendous pressure on businesses and sectors across Argentina. 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 harmed the Argentina 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: Argentina
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028
Aspects covered in this report
• Argentina 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
• Street Skateboard
• Cruiser Skateboard
• Long Skateboard
• Electric Skateboard
• Others Skateboard
By Distribution Channel:
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.
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.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample