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Hoverboard Scooters Market Share, 2013-2028 | Global Industry Report

Hoverboard Scooters Market Size Analysis, Segmentation, Industry Outlook and Forecasts, 2013 - 2028

Report ID: MN17619317  |  Published: August 2019  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Machinery and Machine Parts  |  Publisher: MAResearch

The global hoverboard scooters market is anticipated to exhibit a healthy CAGR during the forecast period (2013 to 2028), according to a report available on Million Insights. Hoverboard scooter refers to a self-balancing two wheeled board that operates on rechargeable battery. It consists of two wheels arranged side-by-side of a platform where rider can easily stand. The rider has to use feet to control the device and to move it in various directions. The scooter can be moved in four different directions using feet like forward, backward, left, and right.

Growing need for convenient and environment friendly mobility options is anticipated to propel market growth. People are getting aware of environmental benefits of using battery operated devices. Increasing use of hoverboards for personal mobility and recreational activities is expected to impel hoverboard scooter market growth. In addition, rising population of youngsters and their preference for battery-operated and self-balancing scooters is likely to boost product demand. Moreover, growing urbanization and rising disposable income will drive the market over the forecast period.

To cater to rising demand for electronic scooters, manufacturing companies are investing in R&D activities to develop advanced products. For instance, Segway offers unique and attractive hoverboard called MiniPro. The scooter delivers superior battery life and easy to handle gyroscopic controls. There is a unique knee steering bar that can be adjusted from 20 inches up to 34 inches high. It allow riders to turn the ride left or right by leaning into knee pads. In addition, it also provides a sense of balance and stability to riders.

In another instance, Swagtron offers app-enabled Bluetooth hoverboard called T500. The device is equipped with light emitting diodes (LED) lights on wheels to support nightriders. In addition, it offers multiple rising modes such as learning mode and standard mode. Learning mode allows new riders to practice balance and standard mode is for confident riders. The self-balancing scooter can travel up to 11 kilometers on a single charge.

Product Insights:

Based on product, the hoverboard scooters market can be categorized into 6.5 inch, 8 inch, and 10 inch. 6.5 inch segment is anticipated to hold highest market share over the forecast period. This is attributed to its ability to hold weight of around 30 to 100 kg. Thereby, it is perfect for kids who are 8 years old and above. In addition, it can also be used by adults without any hassle.

Application Insights:

On the basis of application, the market can be classified into recreational activities, business purposes, and personal mobility. Recreational activities segment is anticipated to hold highest market share over the forecast period. This is attributed to increasing involvement of people in recreational activities to find peace and relaxation. Personal mobility segment is also expected to contribute well to market growth owing to rising demand for battery-operated scooters among kids and teenagers. For kids, rising a hoverboard is the best way to learn how to balance. Moreover, teenagers pick their electric scooters for short distance travel.

Regional Insights:

Regional segmentation includes North America, Asia Pacific, Europe, South America, and Middle East and Africa. Asia Pacific is anticipated to account for highest market share over the forecast period. This is attributed to China being the major manufacturer base for hoverboard scooters being used across the globe. Zhejiang and Shenzhen are the main eastern coastal province of China where hoverboards are manufactured in large number. In addition rising demand from other developing and developed countries such as Singapore, Australia, Japan, and Malaysia is expected to impel regional growth. Moreover, Underwriter Laboratories (UL) certification will develop connections between small manufacturers and distributors in the coming years.

Some of the key players in the hoverboard scooters market are Swagway, MonoRover, Better Wheels, IO Hawk, and Phunkeeduck. Most companies are adopting business strategies such as mergers and acquisitions to expand their product portfolio and to gain competitive edge.

Market Segment:

Leading players of Hoverboard Scooters including:
• IO Hawk
• Swagway
• Phunkeeduck
• Better Wheels
• Razor Hovertrax
• MonoRover
• Powerboard
• Skque
• Leray Two Wheel
• Cyboard
• Chic Robotics
• Street Saw
• Jetson
• Fiturbo
• Vecaro
• Space board
• Megawheels
• Bluefin

Market split by Type, can be divided into:
• 6.5inch
• 8inch
• 10inch

Market split by Application, can be divided into:
• Teenagers use
• Adults use

Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel

Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

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