Skip to Content Facebook Feature Image

Skateboarding frenzy in China boosts market demand

China

Video Player is loading.
Current Time 0:00
Duration -:-
Loaded: 0%
Stream Type LIVE
Remaining Time 0:00
Â
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected
      China

      China

      Skateboarding frenzy in China boosts market demand

      2024-08-05 17:15 Last Updated At:19:27

      The ongoing Paris 2024 Olympics has reignited people's interest in the action-packed, gravity-defying extreme sport of skateboarding, boosting demand for training, equipment and professional events.

      With skateboarding being recognized as a new Olympic sport in 2020, the enthusiasm to participate in this activity has surged. In China, the number of skateboarders in recent years has exceeded 10 million.

      "I come to here everyday. I just love it," said a skateboarder.

      "I've been practicing for more than two years. Every time I practice for one day. I feel this activity is super exciting," said another skateboarder.

      URIDE is one of the venues for skateboarders in Beijing. The place not only offers them a practice site, but also a one-stop service for training, equipment and professional events. There are at least 10 such comprehensive skateboarding parks in Beijing. There are more than 200 skateboarding venues and over 400 clubs across the country.

      "I've been practicing the basic move on the ground for this trick for two months. I practiced a lot," said Chen Muye, a student of skateboarding.

      "My son started learning skateboarding no more than two years ago. It's great to see his passion for this sport. If he wants to be a professional player in the future, I will do everything I can to support him," said Chen's parent.

      Extreme sports like skateboarding help to expand an already flourishing market. One of the main pillars is education. According to official data, in the past two years, there were more than six million new skateboarders in China, mostly between the ages of 8 and 12. And the skateboarding coach in TOYPARKS has witnessed an increasing number of younger participants coming.

      "It's of great significance for related training industry after skateboarding has became an Olympic event. There are more parents willing to let their children train as professional athletes. I now have more than 40 students. There has been a great growth in the past two years," said Zhang Yu, chief coach at TOYPARKS Beijing Langyuan Station.

      Meanwhile, more skateboarding enthusiasts are spending money on equipment.

      "These are the surfskates. The price is about 2,000 to 4,000 RMB (around 280-560 U.S. dollars). The average price of this skateboard for training is several hundred RMB a piece, and professional trainers will change the board once a month or so. Our sales have increased significantly in the past two years," said Kang Yan, manager of TOYPARKS Beijing.

      Data from Market Moniter shows the global skateboard market was nearly 15 billion yuan (around 2 billion U.S. dollars) in 2023, and China's skateboard market topped 4 billion yuan (around 560 million U.S. dollars). It estimated the scale of the global skateboard industry will reach 17.7 billion yuan (around 2.5 billion U.S. dollars) by 2029, exhibiting a compound annual growth rate of 3.46 percent for the next five years.

      Skateboarding frenzy in China boosts market demand

      Skateboarding frenzy in China boosts market demand

      Next Article

      UN forecasts global economic growth to slow to 2.4 pct in 2025

      2025-05-16 13:59 Last Updated At:14:07

      World economic growth is projected to slow to 2.4 percent in 2025, down from 2.9 percent in 2024, due to heightened trade tensions and policy uncertainty, according to a mid-year update of the 2025 World Economic Situation and Prospects report of the United Nations, which was released on Thursday.

      The latest global economy forecast is 0.4 percentage points below the January forecast.

      The global economic outlook has deteriorated significantly since the January 2025 forecast. Sweeping United States tariff announcements and counter-announcements, along with heightened policy uncertainty have eroded global growth prospects, said the UN report.

      In terms of international trade, global trade growth is projected to decline sharply from 3.3 percent in 2024 to 1.6 percent in 2025, said the report.

      The economic slowdown and persistent weakness in global investment growth will drag down employment and wage growth, according to the report.

      The report also emphasized that policy coordination and international cooperation are particularly crucial for stabilizing the global economy and promoting sustainable development as the current world economy is facing high uncertainty.

      UN forecasts global economic growth to slow to 2.4 pct in 2025

      UN forecasts global economic growth to slow to 2.4 pct in 2025

      Recommended Articles
      Hot · Posts