Hoverboard Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030

The Global Hoverboard Market Size is valued at USD 778 million in 2021 and is estimated to achieve a market size of USD 1,215 million by 2030; growing at a CAGR of 5.4%.

A hoverboard is a two-wheeled, battery-operated self-balancing vehicle that is used for business and personal transportation purposes. It is also called an electric skateboard, a self-balancing electric scooter, or a hands-free Segway, the conventional Segway's with no handles. The operator or the rider stands on the footrest of the hoverboard and uses their body weight to make good control of 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 has two small platforms on the upper side between the wheels which act as the rider’s seat where the rider stands. Hoverboards are controlled by the feet of the rider and stand on the pre-installed gyroscopic sensored pads.

Global Hoverboard Market DRO’s:

Market Drivers:

• Growing urbanization and local commute requirements
• Increasing demand for green mobility
• Rising demand for hoverboards among youth and children’s
• Declining battery prices

Market Restraints:

• Safety concerns as compared to other commuting options
• Not reliable for long distance travels

Market Opportunities:

• Rising investments in improving product safety
• Strong dealership and supplier network

Hoverboard Market Report Coverage

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, the increasing interest of consumers in self-balancing and battery-operated scooters along with the 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..

Hoverboard Market Segmentation

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.

Hoverboard Market By Product

• 6.5 Inch
• 8 Inch
• 10 Inch

Among the products, the 6.5 inch segment is expected to achieve a significant market share in 2021 and is likely to continue its trend in the coming years. The increasing demand of 6.5 inch hoverboards among kids is the primary factor fueling the demand. Additionally, the lightweight features, ease of use, and increasing product launch by key players for this type is also supporting the market growth.

Hoverboard Market By Application

• Recreational Activities
• Business Purposes
• Personal Mobility
• Others

Based on application, the business purpose hoverboards accounted for the majority of the share in 2021 and will continue its dominance in the coming years. The significant demand from shopping malls, school and college campuses, and manufacturing plants are creating lucrative opportunities for the business purpose hoverboard market. However, the personal mobility sub-segment is likely to achieve a noteworthy growth rate due to the increasing adoption of hoverboards among urban population.

Hoverboard Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa