Global Hoverboards Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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“Global Hoverboards Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” report has been recently generated by MarketResearch.biz, and offers in-depth insights, revenue details, and other vital information regarding the global hoverboards market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The 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 synthesis, analysis, and interpretation of information gathered from various sources regarding the target market. Our analysts have analysed 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.
The global hoverboards market is expected to register a significant growth due to its low price & easy availability. The selling price of hover boards is decreasing which is leading to high demand for hoverboards. This is expected to have a positive impact on growth of the global hoverboards market over the forecast period. In addition, rising inclination of individuals, especially young population, towards battery driven self-balancing bikes is expected to drive growth of the global hoverboards market over the forecast period.
Increasing industrial application of hoverboards for easy and smooth functioning of production process is expected to drive growth of the global market significantly.
Integration of various advance features in hoverboards such as LED headlights, two-speed setting, fast charging, superior steering, Bluetooth speakers connectivity, all-terrain wheels is expected to positively influence large number of consumers in making their purchasing decision. All these features of hoverboards are expected to drive growth of the global hoverboards market over the forecast period.
Stringent regulatory framework and increasing bans on the use of hoverboards on roads in many countries across the world is expected to challenge 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 adoption of hoverboards and restrict growth of the global hoverboard market over the forecast period.
However, introduction of super capacitors in place of Ion batteries is expected to help overcome safety challenges, leading to increase in adoption of hoverboards, which in turn is expected to create revenue opportunities for players operating in the global hoverboards market in the upcoming years.
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 growth of the hoverboards market in China. North America market is expected to register a moderate growth over the forecast period, owing to increasing adoption of hoverboards for personal mobility, and 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
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- 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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