ELECTRIC SKATEBOARD MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Electric Skateboard Market Size and Trends

Global electric skateboard market is estimated to be valued at US$ 4.07 Billion in 2024 and is expected to reach US$ 9.10 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.

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Global electric skateboard Industry is expected to witness significant growth driven by the increasing popularity of electric skateboarding among the young population for adventure sports and recreation activities. Moreover, the evolution of lithium-ion battery technologies enabling longer riding range and convenience of electric skateboards over traditional skateboards is further boosting the demand. Manufacturers are continuously investing in research & development to upgrade products with latest features such as remote-control connectivity, cruisability, and safety features, which is positively impacting the consumer acceptance and adoption of these boards. However, high product and maintenance cost of electric skateboards may hamper the market growth over the short term.

Top Strategies Followed by Global Electric Skateboard Market Players

Established players in the global electric skateboard market focus heavily on research and development to differentiate their products. Industry leaders like Boosted, Swagtron, and Inboard continuously invest in innovating battery technologies, powertrain systems, and design elements to enhance performance. They collaborate extensively with parts suppliers and manufacturing partners to optimize production efficiency.

Mid-sized companies look to cost-effectively meet the needs of price-conscious customers. For example, Exway and WowGo deliver capable electric skateboards at competitive price-points through streamlined manufacturing and direct-to-consumer sales models. They form strategic alliances to augment production capabilities and source high-quality components at lower costs.

Smaller players focus on niche segments left untapped by larger brands. For instance, Marbel specializes in customizable electric longboards suited for cruising, while Mellow focuses on folding e-boards for urban commuters. They leverage emerging technologies like sensor-enabled stability controls or wireless charging solutions. Some partner with local startups or manufacturers for market validation and distribution support.

Emerging Startups in the Global Electric Skateboard Market

The thriving electric skateboard market has given rise to innovative startups. Companies like Anthropic are developing AI-based technologies for advanced stability and obstacle detection functions. Grishin Robotics is working on self-balancing electric skateboards controlled via smartphone. Such innovations could transform rider safety and the interactive experience.

Sustainability is a priority for startups like Evolve Skateboards and Clever Devices. Evolve uses bamboo in its decks and recycles 98% of its waste. Clever Devices has created an electric skateboard from fully recycled aluminum and plastic. Their eco-friendly approaches set an example and meet rising consumer demand for green alternatives.

Niche startups like Skatebolt and Carvon customize electric skateboards for specific activities. Skatebolt focuses on freestyle e-boards for parks and pools, while Carvon builds powerful commuter models. Through such targeted approaches, these startups effectively serve community needs left unmet by larger brands.