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Global Hoverboards Market Is Expected To Grow At A CAGR Of 6.3% During The Forecast Period

14-Dec-2021 | Facts and Factors

The global hoverboards market report published by Facts & Factors encompasses the complete market history and forecast. In the current market study, in 2020 the market acquired USD 750 Million and with growth at a CAGR of 6.3% is projected to reach a value of USD 1,100 Million by 2026.

A self-balancing and battery-operated gadgets are on the rise, thereby making hoverboard a feasible option. This technology is the best for personal transportation in terms of both cost and environment-friendly nature. The most influencing factor is the growing demand for electric scooters or skateboards among generation Z. The advantages such as zero-emission, easy availability, and cost-effectiveness make it a suitable mode of commute for users across the globe. Travelling could be made fun using the hoverboards as the next generation fuel-efficient vehicles.

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Currently, the rising environmental concerns such as global warming increase the demand for commutes like the hoverboards in order to zero down the emission rate as well reduce the number of vehicle-related accidents. Furthermore, the technological advantages influencing the hoverboard market are the use of Bluetooth, LED lights, and other hi-tech safety features. The trend of green mobility is spreading across the globe and thereby magnetizing the manufacturers to invest more in the zero-emission and eco-friendly technologies. Thus, the demand for hoverboards market is projected to rise over the forecast period. From the transportation perspective, the dependency on batteries instead of fuel makes it an important mode of commute for people. Enticingly, the escalating demand for entertainment when traveling among the youngsters encourage the hoverboard developers over the forecast period. Despite, the positiveness the low safety, lack of awareness among developing regions, battery explosion, and cost are likely to restrain the market development in the upcoming years.

Some of the key players dominating the global hoverboards market include Ninebot, Inc., HaloBoard, Razor USA LLC, EPIKGO, Airwheel Technology Holding Co. Ltd., Segway, Inc., Skque Products, TOMOLOO Technology Industrial Co. Ltd., Genesis, Hangzhou Chic Intelligent Technology Co. Ltd., Shenzhen Rooder Technology Co. Ltd, Megawheels, SURFUS, Shenzhen JIALIKE Electronic Company Ltd., and Shenzhen Uwheel Technology Co. Ltd., among others.

Global Hoverboards Market Dynamics:

Based on the product, the global hoverboards market is divided into single wheeled and double wheeled. From these, the double wheeled segment holds the highest market share due to its convenience, easy availability, and fewer of bumps and risks even in the rough terrain areas. Contingent on wheel size, the hoverboards market is fragmented into 6.5 Inch, 8 Inch, and 10 Inch from which the 6.5 Inch segment is expected to account for the highest market share owing to its easy use and safety among the younger generation.  Also, its influence in encouraging indoor activities among the kids will further bolster the market growth.

On the basis of application, the global hoverboards market is classified into commercial, recreational activities, and personal mobility. The commercial segment is expected to dominate due to the growing demand for hoverboards among security personnel and police. Similarly, the rising adoption of hoverboards in campuses, shopping malls, and manufacturing units also influences the market expansion.

Asia Pacific Is Expected To Exhibit Significant Growth

The Asia Pacific is expected to grow at a significant rate during the forecast period. China’s leading position in the manufacturing segment is anticipated to have a positive influence on the global hoverboards market. Furthermore, the rising demand in the regions such as China, Malaysia, etc. will fuel the market expansion.

Browse the full “Hoverboards Market: By Product (Single Wheeled and Double Wheeled), By Wheel Size (6.5 Inch, 8 Inch, and 10 Inch), By Application (Commercial, Recreational Activities, and Personal Mobility), By Distribution Channel (Online and Offline), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” report at https://www.fnfresearch.com/hoverboards-market

The global hoverboards market is segmented into:

Global Hoverboards Market: By Product Segment Analysis

  • Single Wheeled
  • Double Wheeled

Global Hoverboards Market: By Wheel Size Segment Analysis

  • 6.5 Inch
  • 8 Inch
  • 10 Inch

Global Hoverboards Market: By Application Segment Analysis

  • Commercial
  • Recreational Activities
  • Personal Mobility

Global Hoverboards Market: By Regional Segment Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

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