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The hoverbikes market share is expected to increase by USD 28.29 million from 2021 to 2026, at a CAGR of 16.89%.
This hoverbikes market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hoverbikes market segmentation by technology (electric and hybrid) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The hoverbikes market report also offers information on several market vendors, including A.L.I. Technologies Inc., Aerofex Inc., Bayerische Motoren Werke AG, Duratec sro, Hover, Jetpack Aviation Corp, Lazareth Auto Moto, Malloy Aeronautics Ltd., and Rostec among others.
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The increasing application in military and defense is notably driving the hoverbikes market growth, although factors such as the high costs of hoverbikes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hoverbikes industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hoverbikes Market Driver
Key Hoverbikes Market Trend
Key Hoverbikes Market Challenge
This hoverbikes market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hoverbikes market as a part of the global leisure products industry within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hoverbikes market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the hoverbikes market encompasses successful business strategies deployed by the key vendors. The hoverbikes market is concentrated and the vendors are deploying growth strategies such as focusing on launching new and innovative products, cost-effective production hoverbikes, and technological developments to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hoverbikes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hoverbikes market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from APAC during the forecast period. Japan and China are the key markets for hoverbikes in APAC. Market growth in this region will be slower than the growth of the market in the European, MEA and North American regions.
The rising demand from customers for technologically advanced motorbikes, improvement in the safety of riders, and increased demand for advanced motorcycle supplements will facilitate the hoverbikes market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
n 2020, the outbreak of COVID-19 in APAC negatively impacted several businesses, especially in the manufacturing sector. The market also registered a decline in businesses due to the closure of national and international borders, which halted the movement of components manufactured in other countries and transported to different manufacturers' locations. However, in H1 2021, the introduction of vaccines led to a decline in the number of COVID-19 cases in the region. This has led to the lifting of restrictions and the reopening of manufacturing units of hoverbikes, which has increased the demand for hoverbikes in the region.
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The hoverbikes market share growth in the electric segment will be significant during the forecast period. Factors such as increasing affordability and availability of electric vehicles along with a strong commuter culture are accelerating the demand for electric hoverbikes, which are used for traveling to work. The rapid electrification trend in the automotive industry is encouraging the suppliers of fuel pumps, radiators, and engines, among others, to focus on other markets such as electric hoverbikes.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hoverbikes market size and actionable market insights on post COVID-19 impact on each segment.
Hoverbikes Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 16.89% |
Market growth 2022-2026 |
$ 28.29 million |
Market structure |
Concentrated |
YoY growth (%) |
18.5 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, Japan, Russia, China, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
A.L.I. Technologies Inc., Aerofex Inc., Bayerische Motoren Werke AG, Duratec sro, Hover, Jetpack Aviation Corp, Lazareth Auto Moto, Malloy Aeronautics Ltd., and Rostec |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Technology
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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