HOVERBOARD MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global hoverboard market has witnessed significant growth in the past few years owing to the rising popularity of electric personal mobility devices among young consumers for recreation as well as micromobility transportation solution. Hoverboards function on the principle of magnetic levitation and allow users to travel short distances through balanced weight distribution without any pedaling. Technological advances in lithium-ion batteries along with declining battery prices have enabled manufacturers to enhance the performance as well as travel range of hoverboards. Moreover, growing consumer inclination towards eco-friendly transportation is positively influencing the sales of electric hoverboards.
Market Dynamics:
The global hoverboard market growth is driven by rising consumer preference for personal electric vehicles, improving lifestyle, and increasing inclination towards outdoor recreational activities. However, high product and maintenance cost, safety issues associated with battery fires, and lack of necessary riding skills are some of the factors expected to restrain the market growth. Meanwhile, ongoing technological advancements in batteries, motors, and sensors coupled with development of smart hoverboards with advanced features provide huge opportunities for market expansion. Additionally, growing popularity of electric micromobility as an alternative to short-distance transportation fuelled by initiatives towards development of infrastructure is anticipated to present new growth avenues.
Key features of the study:
- This report provides in-depth analysis of the global hoverboard market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global hoverboard market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Areema, CHIC Robotics, Hover-1 (DGL Group), Hoverboard (Cynova), InMotion, Jetson, Koowheel, Leray, Lime, Segway-Ninebot, Swagtron, TOMOLOO, VEVELINE, VeeBee, and Xiaomi
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global hoverboard market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hoverboard market
Detailed Segmentation-
Detailed Segmentation-
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