Hoverboard Market: COVID-19 Impact and Global Analysis Forecast to 2028

Hoverboard refers to a battery operated, two wheeled and self balancing vehicle which is widely used for personal, business and transportation purposes. It is also known as an self balancing electric scooter, electric skateboard or hands free Seg way, or also called as the conventional Segway's with no handles. The operator or the rider stands on the foot rest of the hoverboard and with the use of their body weight, they try to make efficient control on the movement of the hoverboard. A two wheeled and self balancing scooter board or also known as a self balancing scooter such as a hoverboard, is a portable, rechargeable and battery operated scooter. Hoverboards usually contains two rubber based wheels which are fitted on both the sides of the hoverboard and have two small footrest platforms on the upper side across the wheels which acts as the seat of the rider where the rider stands. Hoverboards are generally controlled by the feet of the rider and the rider stands on the pre installed gyroscopic sensored pads.

The global hoverboard market is projected to foresee the fastest growth especially in the Asia Pacific region due to rising per capita disposable incomes of the consumers as well as rising inclination of customers towards recreational activities. Moreover, increasing urbanization as well as increasing preference of consumers towards various advanced electronic devices across kids and youngsters is one of the major aspects driving the growth of the global hoverboard market especially in the Asia Pacific region. In addition to this, the North America region is expected to be the second largest market in the global hoverboard market owing to increasing preference for electronic scooters across teenagers, youth and office going population. Furthermore, Europe is anticipated to account for the third largest growth owing to rising number of developments in the emerging countries like Italy, Germany, France and U.K among others.

The market can be divided on the basis of application, product type and region. By product type, the global hoverboard market can be classified into 8 inch, 6.5 inch and 10 inch. On the basis of application, the global hoverboard market can be classified into business purposes, recreational activities, others and personal mobility device. On the basis of region, the global hoverboard market can be classified into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. In addition, China is further projected to account for the highest share in the global market and is predictable to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Brazil, Russia, Poland, Indonesia, New Zealand, Argentina, Korea and India among others are also expected to witness a rapid growth throughout the forecast period. In addition to this, increasing per capita disposable income and surge in the global economy is another key factor which is expected to bring impetus in the growth.

Key players operating in the global market are focusing on some of the major market strategies such as partnerships, mergers, collaborations and acquisitions in order to keep hold in the ever competitive global market. Furthermore, they are focus on gaining hold on the general players to strengthen their goodwill as well as to enhance their market reach in the global market. Some of the players in the hoverboard market include The White Chair Limited, Razor USA LLC, Hangzhou Chic Intelligent Technology Co., Ltd., Ninebot Limited, WuyiChuangxin Metal Tools Co., Ltd., Shenzhen Jialike Electronic Company Ltd., Inventist, Inc., Shenzhen Rooder Technology Co., Ltd., Fosjoas Technology Co., Ltd., Zhejiang Topso Technology Co., Ltd., Shenzhen Uwheel Technology Co., Ltd., Airwheel Technology Holding (USA) Co., Ltd., Shenzhen Freefeet Technology Co. Ltd., Hoverboard Express, LLC, Phunkee Tree, Inc., Swagway LLC, Soibatian Corporation d.b.a. IO HAWK, Zhengzhou F-wheel Industrial Co., Ltd. PTX Performance Products USA, LLC and Hama GmbH & Co KG among others.

The Global Hoverboard Market segmented by
On the basis of product type
• 8 inch
• 6.5 inch
• 10 inch
On the basis of application
• Business purposes
• Recreational activities
• Personal mobility device
• Others

On the basis of region
• North America
• Latin America
• Europe
• Middle East & Africa
• Asia Pacific