Introduction
Hoverboard is a two-wheeled, battery operated self-balancing vehicle which is used for business and personal transportation purposes. It is also called an electric skateboard, self-balancing electric scooter or hands-free Segway, the conventional Segway’s with no handles. Operator or the rider stands on the footrest of the hoverboard and uses their body weight to make good control on the movement of the hoverboard. A hoverboard, is a rechargeable, portable and battery operated scooter. It consists of two rubber wheels fitted on both sides and have two small platforms on upper side between the wheels which acts as the rider’s seat where the rider stands. Hoverboards are controlled by the feet of rider and stands on the pre-installed gyroscopic sensored pads.
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Market Dynamics
Off late, the demand for hoverboards has increased considerably owing to the rising use of hoverboards for recreational activities as well as for personal mobility and is gaining popularity across the globe. Moreover, increasing interest of consumers towards self-balancing and battery operated scooters along with rising population of youngsters are some key factors further expected to boost the demand for hoverboards thus driving the growth of the global hoverboard market over the forecast period.
Regional Overview
The global hoverboard market is anticipated to witness fastest growth in Asia-Pacific owing to increasing per capita disposable income along with increasing inclination of consumers towards recreational activities. Moreover, rapid urbanization and increasing preference towards electronic devices among youngsters and kids is another major factor fueling the growth of global hoverboard market in Asia-Pacific. North America is anticipated to be the second largest market in global hoverboard market due to rising preference for electronic scooters among teenagers and office going population. Further, Europe is projected to register the third largest growth due to increasing development in emerging markets like Germany, Italy, U.K and France among others. Brazil and Argentina in Latin America are the two most lucrative markets anticipated to witness growth in the hoverboard market due to rising recreational and sports activities and increasing consumer preference towards battery operated commutation alternatives. Asia-Pacific region accounted for the largest market share in global hoverboard market and is forecasted to dominate during forecast period owing to increasing demand from developing countries such as Japan, China, Singapore, Australia and Malaysia among others.
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Market Classification
The market can be bifurcated on the basis of product type, application and region. By product type, the global hoverboard market can be segmented into 6.5 inch, 8 inch and 10 inch. On the basis of application, the global hoverboard market can be segmented into recreational activities, business purposes, personal mobility and others. On the basis of region, the global hoverboard market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.
Report Coverage
Analysis Period
2014 – 2024
Historic Data
2014 – 2015
Base Year
2016
Forecast Data
2017 – 2024
Market Stratification
Product, Application, Geography
Regional Scope
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage
Market Trends, Drivers, Restraints, Porter’s Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis
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Market Participants
Some of the major players involved in the supply of power sports products are focusing on key market strategies such as mergers and acquisitions along with improvement in old products and innovations in new product development. They are also concentrating on bringing up new products to meet the demands in the ever-competitive market. Some of the players in the hoverboard market include Razor USA LLC, The White Chair Limited, Ninebot Limited, Hangzhou Chic Intelligent Technology Co., Ltd., Shenzhen Jialike Electronic Company Ltd., Wuyi Chuangxin Metal Tools Co., Ltd., Shenzhen Rooder Technology Co., Ltd., Inventist, Inc., Zhejiang Topso Technology Co., Ltd., Fosjoas Technology Co., Ltd., Airwheel Technology Holding (USA) Co., Ltd., Shenzhen Uwheel Technology Co., Ltd., Hoverboard Express, LLC, Shenzhen Freefeet Technology Co. Ltd., Swagway LLC, Phunkee Tree, Inc., PTX Performance Products USA, LLC, Soibatian Corporation d.b.a. IO HAWK, Zhengzhou F-wheel Industrial Co., Ltd. and Hama GmbH & Co KG among others.
Market Segmentation
Market By Product
· 6.5 inch
· 8 inch
· 10 inch
Market By Application
· Recreational activities
· Business purposes
· Personal mobility
· Others
Market By Geography
· North America
o US
o Canada
o Mexico
· Europe
o UK
o Germany
o France
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
· Latin America
o Brazil
o Chile
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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