ELECTRIC SKATEBOARD MARKET Challenges and Opportunities

One of the major challenges currently being faced by the global electric skateboard market is the high costs associated with electric skateboards. The upfront costs of purchasing an electric skateboard can be quite high compared to a traditional non-electric skateboard. This is because electric skateboards require expensive lithium-ion batteries and electric motors to function, which significantly increases their manufacturing costs.

Market Opportunity: Strategic alliance and partnerships

Electric skateboards are still an emerging transportation category. By collaborating, companies may be better able to tackle challenges like improving battery capacity, lowering costs, enhancing safety features, and gaining user acceptance. Larger companies with established research budgets could partner with smaller startups bringing new ideas.  For instance, domestic electric skateboard leaders could ally with international distribution firms to step up their overseas presence. Suppliers may cooperate with retailers and logistics players to broaden sales channels. According to the United Nations Environment Programme, sales of new electric two and three-wheelers more than doubled in 2021 as compared to 2019 levels, indicating growing global interest in personal electric mobility solutions (UNEP, 2022).