Hoverbikes Market by Technology and Geography - Forecast and Analysis 2022-2026

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.

What will the Hoverbikes Market Size be During the Forecast Period?

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Hoverbikes Market: Key Drivers, Trends, and Challenges

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

• One of the key factors driving growth in the hoverbikes market is the increasing application in military and defense.
• Military and defense systems can access the current and future status of defense vehicles such as hoverbikes and analyze their operational requirements.
• Military organizations are adopting numerous technologies to optimize the performance of infrastructure to maximize security.  
• The substantial growth in defense spending for modernizing the existing infrastructure in emerging countries, such as India and Saudi Arabia, coupled with the establishment of collaborations, will considerably propel the growth of the global hoverbikes market during the forecast period.
• The changing dynamics of geopotential conflicts and cooperation among military forces will drive the growth of this segment. Both developed and developing nations will contribute to the growth of the global hoverbikes market through military and defense.

Key Hoverbikes Market Trend

• The increasing demand for hoverbikes in military transportation and logistics is a hoverbikes market trend that is expected to have a positive impact in the coming years.
• Many countries have their military base in other countries for peace supporting and mission accomplishing operations. To maintain their military base in other countries, they adopt the multidimensional defense logistics model.
• The Italy government is supporting the US in peacekeeping operations in Italy.
• The support includes transportation requirements for camp construction and infrastructure, weapon movement, leasing land for camp building, warehousing, and the usage of other infrastructures, such as airfields and roads. Hoverbikes are favorable for mission-fulfilling operations.
• The adoption of military transportation and logistics models by many countries will increase the demand for hoverbikes, which, in turn, will foster the growth of the global hoverbikes market.

Key Hoverbikes Market Challenge

• The high costs of hoverbikes will be a major challenge for the hoverbikes market during the forecast period.
• Hoverbikes ensure riding pleasure and offer an appealing option for adventure riding compared to bikes. However, the relatively higher cost of hoverbikes compared to conventional bicycles hinders the growth of the global hoverbikes market.
• Hoverbikes manufacturers face significant technological challenges that are associated with the cost and performance of components and materials.
• One of the most efficient motors that can be used in hoverbikes is the geared multi-speed motor with a lightweight battery pack. However, this costs nearly three times more than the basic system available for peddles. Hence, the higher cost of hoverbikes compared to conventional bicycles will be a major challenge for the global hoverbikes market.

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.

Parent Market Analysis

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.

Who are the Major Hoverbikes Market Vendors?

The report analyzes the market’s competitive landscape and 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.
• Rostec

 

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.

Product Insights and News

• A.L.I. Technologies Inc. - A.L.I. Technologies Inc. is a privately held company headquartered in Japan. It is a regional company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global hoverbikes market is a key component of its overall revenues. 
• A.L.I. Technologies Inc. - The company offers hoverbike namely Xturismo. 

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.

Hoverbikes Market Value Chain Analysis

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.

Which are the Key Regions for Hoverbikes Market?

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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.

What are the Revenue-generating Technology Segments in the Hoverbikes Market?

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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.

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What are the Key Data Covered in this Hoverbikes Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive hoverbikes market growth during the next five years
• Precise estimation of the hoverbikes market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the hoverbikes industry across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hoverbikes market vendors

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