In recent years, the demand for hoverboards has surged to a certain degree due to growing enthusiasm about the gadget among the youth population. For many hoverboard riders, the gadget is a source of entertainment. Expert riders perform various hoverboard stunts as well as use them for engaging in recreational activities. In addition, quick acceptance of battery operated vehicles coupled with the urgency to develop innovative transportation modes is expected drive the popularity of hoverboards in the forthcoming years. If perfected, hoverboads are fun to ride and can be an alternative to walking. A futuristic look and the cutting-edge technology that powers the gadget continues to attract the tech savvy consumer class. The latest versions of hoverboards are far more efficient as compared to the initial models. Developers are actively focusing on making their use more practically possible and also trying to improve their functionalities. Higher investment on research & development and product promotion by manufacturing companies are expected to make a positive impact on the global hoverboard market. Fact.MR’s latest report projects that the global hoverboard market will expand at an impressive CAGR of 6.1% over the forecast period (2017-2022).
Hoverboard is a self-balancing, and battery operated gadget that is used for personal transportation. Some high performance hoverboards are even referred to as electric skateboards or electric scooters. The gadget typically has two wheels that are parallel to each other and connected by a small electronic panel. The user has to place his/her feet on the panel and maneuver the hoverboard using body weight.
Market Taxonomy
|
Product Type |
Wheel Size |
Application |
Sales Channel |
|
Single Wheeled |
6.5 inch |
Recreational Activities |
Modern Trade |
|
Double Wheeled |
8 inch |
Business Purpose |
Specialty Stores |
|
10 inch |
Personal Mobility |
Departmental Stores |
|
|
Online |
|||
|
Sports Stores |
|||
|
Others |
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
APEJ’s Hoverboard Market to Remain More Lucrative than Markets in North America & Europe
Asia-Pacific excluding Japan (APEJ) is to remain the most lucrative market for hoverboard in 2022, and the trend is anticipated to continue over the next couple of years. During the forecast period, the hoverboard market in APEJ is projected to expand at a strong CAGR of 6.2%.
Double Wheeled will Remain the Most Sought-After Hoverboard Type
On the basis of product type, demand for double wheeled segment will continue to grow in 2017 and beyond. Presently, the segment accounts for more than two-third share of the market in terms of revenue. The double wheeled product type segment is expected to grow at around US$ 75.6 Mn annually over the course of the forecast period.
Competition Tracking
Razor USA, LLC, Ninebot Inc., HaloBoard, EPIKGO, Segway Inc., Skque Products, TOMOLOO Technology Industrial Co., Ltd., Megawheels, SURFUS, Genesis, Hangzhou Chic Intelligent Technology Co., Ltd., Shenzhen Rooder Technology Co., Ltd, Shenzhen JIALIKE Electronic Company Ltd., Airwheel Technology Holding ( USA ) Co., Ltd., Shenzhen Uwheel Technology Co., Ltd., are the key companies profiled in the Fact.MR’s report.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Hoverboards, also known as self-balancing scooters serve as a fine example of the linear advancements that have been taking place in development of eco-friendly vehicles over the years. From travel to entertainment, hoverboards are capturing all possible imaginations that could be associated with the gadget now, and in the future. The report, compiled by Fact.MR, provides in-depth analysis of the global hoverboard market for the forecast period 2017-2022, and offers key insights about future market direction.
Scope
The scope of Fact.MR’s report is to analyze the global hoverboard market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Hoverboards manufacturers, stakeholders, and suppliers in the sporting goods & accessories industry can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to hoverboards.
Summary
The report commences with a brief information of the global hoverboard market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global hoverboard market.
Overview
The next section offers an overview of the hoverboard market. This comprises an introduction to the market, along with a standard definition of the product – hoverboard. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global hoverboard market, the report provides updates about market opportunities, which can benefit leading manufacturers of hoverboards. With continuous evolution of the sporting goods & accessories industry, keeping a record of latest developments and trends is fundamental for hoverboard manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the wide scope of the global hoverboard market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast. The hoverboard market has been categorized on the basis of product type, wheel size, application, sales channel and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters. The report’s last section comprises of the global hoverboard market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global hoverboard market.
Research Methodology
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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Hoverboard Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022