Global Hoverboards Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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May 2023
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This report was compiled by Research Team Research team of over 50 passionate professionals leverages advanced research methodologies and analytical expertise to deliver insightful, data-driven market intelligence that empowers businesses across diverse industries to make strategic, well-informed Correspondence Research Team Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Global Hoverboards Market Overview:
The Global Hoverboards Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global hoverboards market report has been segmented on the basis of product type, wheel type, application, and region.
This report is based on the synthesis, analysis, and interpretation of information gathered from various sources regarding the target market.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective being to provide a holistic view of the target market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as current impact, in order to make informed forecasts about the scenarios in the near and distant future.
Hoverboards are self-balancing electric scooters or electric skateboards operated on battery and are used for both personal mobility and recreational activities.
Hoverboards Market Dynamics:
The global hoverboards market is expected to register significant growth due to its low price & easy availability. The selling price of hoverboards is decreasing which is leading to high demand for hoverboards. This is expected to have a positive impact on the growth of the global hoverboard market over the forecast period.
In addition, the rising inclination of individuals, especially the young population, toward battery-driven self-balancing bikes is expected to drive the growth of the global hoverboards market over the forecast period.
Increasing industrial application of hoverboards for easy and smooth functioning of the production process is expected to drive the growth of the global market significantly.
Integration of various advanced features in hoverboards such as LED headlights, two-speed settings, fast charging, superior steering, Bluetooth speakers connectivity, and all-terrain wheels is expected to positively influence a large number of consumers in making their purchasing decision.
All these features of hoverboards are expected to drive the growth of the global hoverboard market over the forecast period.
Stringent regulatory framework and increasing bans on the use of hoverboards on roads in many countries across the world are expected to challenge the growth of the global market to a certain extent.
Moreover, technical risk factors associated with hoverboards and Ion batteries such as hoverboard explosion due to overheating on Ion batteries and balancing issues could affect the adoption of hoverboards and restrict the growth of the global hoverboard market over the forecast period.
However, the introduction of supercapacitors in place of Ion batteries is expected to help overcome safety challenges, leading to an increase in the adoption of hoverboards, which in turn is expected to create revenue opportunities for players operating in the global hoverboards market in the upcoming years.
Hoverboards Market Analysis by region:
Asia Pacific market is expected to register significant growth in the global hoverboards market over the forecast period. China market is the largest producer of cost-effective hoverboards and is expected to continue to retain its position in the Asia Pacific market over the forecast period.
Increasing manufacturing of technologically advanced single and double-wheeled hoverboards is expected to further fuel the growth of the hoverboards market in China. The North American market is expected to register moderate growth over the forecast period, owing to the increasing adoption of hoverboards for personal mobility, and the growing popularity of hoverboards among children and youth as a recreational activity.
Global hoverboards market segmentation:
Segmentation by product type:
- Single Wheeled
- Double Wheeled
Segmentation by wheel type:
- 5 inches
- 8 inches
- 10 inches
Segmentation by application:
- Recreational Activities
- Business Purpose
- Personal Mobility
Segmentation by region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
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- Razor USA LLC
- Ninebot Limited
- Hangzhou Chic Intelligent Technology Co., Ltd.
- Shenzhen Jialike Electronic Company Ltd.
- Wuyi Chuangxin Metal Tools Co., Ltd.
- Shenzhen Rooder Technology Co., Ltd.
- Inventist, Inc.
- Zhejiang Topso Technology Co., Ltd.
- Fosjoas Technology Co., Ltd.
- Airwheel Technology Holding Co., Ltd.
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