About Hoverboards
A hoverboard is a self-balancing vehicle having two wheels and battery operated. It is also known as electric skateboard, electric scooter or the hands free Segway. It is used for the business purpose or self-transportation. As compared to the previous models, this versions are efficient. In addition it has the wireless connectivity, futuristic look and a cutting edge technology. Since, there is high investment on research and development and also high promotions are increasing the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.51% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the food and beverage industry as well the grocery sector. It has wide application in various industry verticals. Several companies such as E-bay, Amazon, Flipkart, and Walmart are operating in the market to provide customers with various features & unique offering products, services, and prices. The market is a highly fragmented market with the presence of several market players and local players. The demand for the market is huge which has wide consumption from the various end-user that is triggering the market growth over the forecast period Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Hoverboards market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Swagtron (United States), Airwheel (China), Razor Hovertrax (United States), HaloBoard (United States), Segway Inc. (United States), Genesis (United States) and Hangzhou Chic Intelligent Technology Co., Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Shenzhen Rooder Technology Co., Ltd (China), Shenzhen JIALIKE Electronic Company Ltd. (China) and Airwheel Technology Holding Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Hoverboards market by Type (Compact-size, Mid-size and Full-size), Application (Teenagers Use and Adults Use) and Region.
On the basis of geography, the market of Hoverboards has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Teenagers will boost the Hoverboards market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Hoverboards market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Inclination of consumers towards the electronic devices
Market Growth Drivers:
Rising usage of hoverboards for recreational activities are increasing the market growth. The hoverboards are gaining the popularity across the world. In addition, the young population is inclining towards the self-balancing bikes is fueling the market growth.
Challenges:
Fluctuation in the prices of raw materials
Restraints:
High costs associated with the hoverboards
Opportunities:
Increasing disposable income in developing economies such as India and China and Technological developments are affecting the market growth positively
Market Leaders and their expansionary development strategies
In June 2020, Underwriters Laboratories (UL) introduced UL2272, setting strict new standards for the self-balancing scooter industry. As an industry leader, Swagway, The new SWAGTRON stands above its competitors as the safest and most advanced self-balancing scooter on the market.
In October 2023, Shane Chen, inventor of the original Hoverboard, today introduced his latest invention, SHANE: a first-of-its-kind parallel two-wheeled electric car concept that embraces the laws of physics to create a futuristic driving experience for motorists, today. SHANE is the first two-wheeled car concept to be practical and efficient for everyday urban and highway use.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.