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Hoverboard Market Size to be About US$ 1,312.3 Million by 2030

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The hoverboard market was exceeded US$ 734.5 million in 2020 and is projected to reach US$ 1,312.3 million by 2030, expanding at an annual CAGR of 6 percent, according to a 2021 study by Precedence Research, the Canada-based market Insight Company. The report contains 150+ pages with detailed analysis.

The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The dairy products market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

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Hoverboard is also known as self-balancing scooter that is popularly used as a micro-mobility solution in urban areas. It is a fuel-efficient and eco-friendly micro-mobility vehicle that uses ion-lithium batteries for power. It is gaining rapid traction among the millennials and generation Z owing to the higher demand for the high-tech products among this age group.

Moreover, rising investments by the manufacturers to improve power efficiency and safety features in the hoverboard is positively impacting the adoption of hoverboards among the urban population across the globe. The rising trend of green mobility, rapid urbanization, rising disposable income, growing demand for the high-end technology products, and decreasing cost of batteries are the several important factors that are expected to boost the demand for the hoverboard, thereby fueling the growth of the hoverboard market.

Competition Landscape

In the final section of the research report, Precedence Research provided the global hoverboard market structure and a detailed competition landscape to provide a dashboard view of key players operating in the hoverboard market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the hoverboard market include:

  • Ninebot, Inc.
  • Segway, Inc.
  • Razor USA
  • Hangzhou Chic Intelligent Technology Co. Ltd.
  • RioRand Advanced Technology
  • Evoy Technologies
  • Sky Walkers USA
  • Robstep GB
  • IPS Electric Unicycle Co.
  • Shenzhen Lezway Technology

Crucial factors accountable for market growth are:

  • Rapidly growing urbanization
  • Increased demand for the high-tech products
  • Rising demand for hoverboards among children
  • Growing adoption of hoverboards in commercial spaces
  • Heavy investments on improving product safety
  • Growing demand for green mobility

Report Highlights

  • Based on the product type, the double wheeled segment dominated the market in 2020. This is owing to the increased penetration and easy availability of double wheeled hoverboards in the market. Double wheeled hoverboards are extensively used owing to its ease and convenience of riding.
  • Based on the size, the compact size segment is estimated to be the most opportunistic segment owing to the increasing popularity of the small sized and light-weight hoverboards among the children for indoor driving.
  • Based on the application, the commercial segment dominated the market in 2020. This is attributable to the rising adoption of hoverboard among the policemen and security personnel for patrolling purposes. Further, growing usage of hoverboards in the college campuses, manufacturing facilities, and shopping complexes has fueled the growth of this segment in the past years.

Market Dynamics

Drivers – The light-weight, convenience, and cost-effective commute are the major factors accountable for driving the global hoverboard market. The rising demand for the green mobility among the urban population is exponentially fostering the growth of the global hoverboard market.

Restraints – The increased safety concerns associated with the battery explosion of the hoverboards is a major hindering factor. In the past, frequent cases of fire and explosion in the hoverboard resulted in the decline in the demand. Moreover, few countries have banned the use of hoverboard owing to its low safety issues. This is a major factor that may hinder the market growth.

Opportunities – Rising investments in the development of advanced features in the hoverboard is expected to provide growth opportunities in future. Further, the installation of latest technologies like Bluetooth and LED lighting enhances the look and design of the hoverboard that may attract the customers.

Challenges – Low penetration in developing and underdeveloped nations owing to the low disposable income of the consumers and lack of product awareness is a major challenge to the market players that needs to be tackled in order to grow in the upcoming future.

Regional Snapshots

Based on the region, Europe dominates the global hoverboard market. Europe is characterized by increased demand for sustainable products, increased consumer awareness, rising demand for the high-end technically developed products, and rising demand for the hoverboards in the commercial spaces such as shopping malls and complexes. Hoverboard is now increasingly used in huge college campuses for its power efficiency and cheap mobility. The growing government initiatives to reduce carbon footprint is positively boosting the growth of the hoverboard market in the region. The high popularity of hoverboards among the children in Europe is significantly fueling the market growth. For this, Europe is expeted to sustain its position throughout the forecast period.

North America is estimated to be the most opportunistic market. This is attributed to the higher adoption rate of technologically developed products among the population. Moreover, the North American consumers are highly stimulated by the product quality and the rising investments in installing safety features is further propelling the market growth in this region. The adoption of hoverboard is increasing among the security staffs for patrolling. Moreover, it facilitates mobility in huge complexes and manufacturing facilities that fuels the demand for the hoverboard in the commercial spaces.

Market Segmentation

By Product

  • Double Wheeled
  • Single Wheeled

By Size

  • Compact Size
  • Mid-Size
  • Full-Size

By Application

  • Personal Mobility
  • Recreational Activities
  • Commercial
  • Others

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Most Asked Questions –

  • What was the market size value of the hoverboard in 2020?
  • What is the expected market size by 2030?
  • What is the hoverboard market growth?
  • What are the key factors that positively influence market growth?
  • Who are the prominent players in the hoverboard market?

Why should you invest in this report?

If you are aiming to enter the global hoverboard market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for hoverboard are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics

5.1.1. Market Drivers

5.1.2. Market Restraints

5.1.3. Market Opportunities

5.2. Porter’s Five Forces Analysis

5.2.1. Bargaining power of suppliers

5.2.2. Bargaining power of buyers

5.2.3. Threat of substitute

5.2.4. Threat of new entrants

5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis

6.1.2. Key Strategies Adopted by Players

6.1.3. Vendor Landscape

6.1.3.1. List of Suppliers

6.1.3.2. List of Buyers

Chapter 7. Global Hoverboard Market, By Product

7.1. Hoverboard Market, by Product Type, 2021-2030

7.1.1. Double Wheeled

7.1.1.1. Market Revenue and Forecast (2019-2030)

7.1.2. Single Wheeled

7.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 8. Global Hoverboard Market, By Application

8.1. Hoverboard Market, by Application, 2021-2030

8.1.1. Personal Mobility

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Recreational Activities

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Commercial

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Others

8.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Hoverboard Market, By Size 

9.1. Hoverboard Market, by Size, 2021-2030

9.1.1. Compact Size

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Mid-Size

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Full-Size

9.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Hoverboard Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.3. Market Revenue and Forecast, by Size (2019-2030)

10.1.4. U.S.

10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.4.3. Market Revenue and Forecast, by Size (2019-2030)

10.1.5. Rest of North America

10.1.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.5.3. Market Revenue and Forecast, by Size (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.3. Market Revenue and Forecast, by Size (2019-2030)

10.2.4. UK

10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.4.3. Market Revenue and Forecast, by Size (2019-2030)

10.2.5. Germany

10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.5.3. Market Revenue and Forecast, by Size (2019-2030)

10.2.6. France

10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.6.3. Market Revenue and Forecast, by Size (2019-2030)

10.2.7. Rest of Europe

10.2.7.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.7.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.7.3. Market Revenue and Forecast, by Size (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.3. Market Revenue and Forecast, by Size (2019-2030)

10.3.4. India

10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.4.3. Market Revenue and Forecast, by Size (2019-2030)

10.3.5. China

10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.5.3. Market Revenue and Forecast, by Size (2019-2030)

10.3.6. Japan

10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.6.3. Market Revenue and Forecast, by Size (2019-2030)

10.3.7. Rest of APAC

10.3.7.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.7.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.7.3. Market Revenue and Forecast, by Size (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.3. Market Revenue and Forecast, by Size (2019-2030)

10.4.4. GCC

10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.4.3. Market Revenue and Forecast, by Size (2019-2030)

10.4.5. North Africa

10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.5.3. Market Revenue and Forecast, by Size (2019-2030)

10.4.6. South Africa

10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.6.3. Market Revenue and Forecast, by Size (2019-2030)

10.4.7. Rest of MEA

10.4.7.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.7.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.7.3. Market Revenue and Forecast, by Size (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.3. Market Revenue and Forecast, by Size (2019-2030)

10.5.4. Brazil

10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.4.3. Market Revenue and Forecast, by Size (2019-2030)

10.5.5. Rest of LATAM

10.5.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.5.3. Market Revenue and Forecast, by Size (2019-2030)

Chapter 11. Company Profiles

11.1. Ninebot, Inc.

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Segway, Inc.

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Razor USA

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Hangzhou Chic Intelligent Technology Co. Ltd.

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. RioRand Advanced Technology

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Evoy Technologies

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Sky Walkers USA

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Robstep GB

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. IPS Electric Unicycle Co.

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Shenzhen Lezway Technology

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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