- Press Release -

Rockville, Md. The global hoverboard market is set to exceed US$ 1.7 Bn by 2022, according to Fact.MR, as falling prices widen the pool of buyers and reliance on new-age mobility gadgets grows. Makers are pushing on technology, ergonomics and range, and adding features such as Bluetooth, Wi-Fi connectivity and wireless charging to lure more buyers.

Double-wheeled models dominate the product mix, 6.5-inch wheels lead by size, and recreational use accounts for most demand. Asia Pacific excluding Japan is the key production and growth hub.

Products, Wheels and Applications

Double-wheeled hoverboards command over 80% of revenue, favoured for their superior design and easier ride. By wheel size, 6.5-inch models hold over a third of revenue, with more than 1,070 Mn units expected to ship by 2022. Recreational use is the leading application at over 70% of revenue, growing at a 6.5% CAGR to surpass US$ 1.3 Bn by 2022.

Asia Pacific excluding Japan offers the most lucrative opportunity, with China a leading producer of cost-effective electric vehicles including hoverboards and output of single and double-wheeled models set to rise.

Affordability Drives Demand

The market runs on price and novelty. As hoverboards become cheaper and better featured, they reach a wider audience, though technological failures and malfunctions, along with strict safety regulations, limited power capacity and long charging times, temper faster growth.

Suppliers and Their Playbook

The field brings together personal mobility and electronics makers.

• Ninebot Inc., Razor USA, LLC, EPIKGO, Skque Products, Megawheels, Genesis, Shenzhen Rooder Technology Co., Ltd., Airwheel Technology Holding (USA) Co., Ltd., HaloBoard, Segway Inc., TOMOLOO Technology Industrial Co., Ltd., SURFUS, Shenzhen Uwheel Technology Co., Ltd., Hangzhou Chic Intelligent Technology Co., Ltd., and Shenzhen JIALIKE Electronic Company Ltd. are among the key players in the report.

Reading the Market for Decisions

For makers, growth favours feature-rich double-wheeled models at accessible prices. Investors get a market with affordability-led demand tempered by safety concerns. Procurement and retail teams can plan around recreational use carrying volume and Asia Pacific offering the largest opportunity through 2022.

About the Report

Fact.MR's study covers the global hoverboard market for the 2017 to 2022 forecast period, with segmentation by product type, wheel size, application and region. It sizes each segment, maps the competitive field, and weighs the demand forces shaping the market. Further detail is available in the hoverboard market report.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. The firm is known for its syndicated research, custom research and consulting solutions, helping clients make decisions on demand, competition, investment, procurement and future growth.