The revenue generated by the global hoverboard scooter market was calculated around US$ 780.2 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5% during the forecast period from 2021-2030.
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Hoverboard scooter is a micro-mobility scooter driven by power batteries and wheels. This commute solution is widely popular amongst generation Y and generation Z. Hoverboard scooters are available in many variants depending on speed ranges, weight capabilities, and battery. Features like application-supported functions, LED lighting systems, and Bluetooth systems have been integrated into the scooters to make them convenient for users.
Traditional mobility mediums are now getting replaced with electrical solutions. Electric-driven mobility solution offers an efficient mode of transportation, making it beneficial for consumers. Moreover, electric hoverboard scooters are environmentally friendly, which raises its demand among the population.
The maximum demand for hoverboard scooters comes from urban areas. Urbanization has been attaining growth, owing to the rising work opportunities and industrialization. Daily travel to the workplace has made it necessary for consumers to drive a vehicle. Thus, People of Urban areas are more inclined to adopt technologically advanced solutions for their daily travel. This factor significantly fuels the sale of hoverboard scooters across the urban areas.
Hoverboard scooters provide a significant commute solution to the passengers. However, hoverboard scooters require well-trained operators to drive. The shortage of trained professionals obstructs the expansion of the global hoverboard scooter market. Furthermore, the complex design of the scooter enhances the chances of accidents. Safety concerns with the device would be another reason for the hindrance in the growth.
The market strategy is likely to contribute to the significant growth of the global hoverboard scooter market. The majority of market participants depend on the chain of distributors or dealers. Dealers and distributors maintain a loyal customers relationship that in turn impacts the overall sale.
COVID-19 Impact Analysis
The COVID-19 pandemic had obstructed the growth of the global hoverboard scooter market with a halt in maximum manufacturing activities. Hoverboard scooters manufacturing industries also shut their operation because of the strict COVID-19 lockdowns, travel restrictions, and social distancing rules. Apart from that, the unavailability of workers and raw materials further declined the manufacturing of hoverboard scooters.
The major factors that affected the overall hoverboard industry are hindrance in the supply chain, regulatory & policy changes, unavailability of laborers, etc.
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North America became the highest contributor to the growth of the global hoverboard scooter market. Meanwhile, Asia-Pacific is expected to raise its contribution in the growth of the global hoverboard scooter market during the forecast period. The rising demand for hoverboards from North America is projected to accelerate the market. Meanwhile, the maximum presence of manufacturers in China is expected to exhibit some promising growth in the global hoverboard scooter industry.
Key Market Segments
Personal Mobility Device
By Sales Channel
By Speed Limit
Less than 15 Kmh
More than 15 Kmh
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Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
Future Motion Inc.
INMOTION Technologies Co., Ltd.
Jetson Electric Bikes LLC
Shenzhen Gyroor Tech (China) Co., Ltd
Tomoloo Technology Industrial Co., Ltd.
Uboard India Limited
Other prominent players
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What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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