Hoverboard Market by Wheel Size and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR44264
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The hoverboard market has the potential to grow by USD 402.93 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.63%.

This hoverboard 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 market segmentation by wheel size (compact size, mid-size, and full-size) and geography (North America, APAC, Europe, South America, and MEA). The hoverboard market report also offers information on several market vendors, including EPIKGO, Fosjoas Technology Co. Ltd., Hangzhou Chic Intelligent Technology Co. Ltd., Inventist Inc., Jetson Electric Bikes LLC, Lamboscooter, Omni Hoverboards Inc., Razor USA LLC, Segway Inc., and SWAGTRON among others.

What will the Hoverboard Market Size be in 2021?

Hoverboard-Market-Market-Size-2020-2025

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Hoverboard Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing R&D on supercapacitors to replace lithium-ion batteries is notably driving the hoverboard market growth, although factors such as limitations and shortcomings of lithium-ion batteries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hoverboard industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The growing R&D on supercapacitors to replace lithium-ion batteries will be one of the major factors that will drive hoverboard market growth.
  • Supercapacitors that can store more energy than a lithium-ion battery while retaining the ability to release its energy up to 10 times faster are under development.
  • The disposal of supercapacitors is environment-friendly as it does not rely on metals and other toxic materials.
  • These factors have driven hoverboard manufacturers to focus on the replacement of batteries with supercapacitors in their products.
  • The rising popularity of full-size hoverboards is one of the key trends that will contribute to the growth of this market.
  • The full-size hoverboard offers a comfortable riding experience and can travel at a faster speed, with a maximum speed of around 9 miles per hour.
  • The bigger wheels, with rubber inflatable tires, enable fine riding even on rough terrains with less bump or jerk.
  • The load capacity of a full-size hoverboard is more than its counterparts. 

This hoverboard 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 2021-2025.

Who are the Major Hoverboard Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • EPIKGO
  • Fosjoas Technology Co. Ltd.
  • Hangzhou Chic Intelligent Technology Co. Ltd.
  • Inventist Inc.
  • Jetson Electric Bikes LLC
  • Lamboscooter
  • Omni Hoverboards Inc.
  • Razor USA LLC
  • Segway Inc.
  • SWAGTRON

 

This statistical study of the hoverboard market encompasses successful business strategies deployed by the key vendors. The hoverboard market is fragmented and the vendors are deploying various organic and inorganic growth strategies 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 hoverboard 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. 

Which are the Key Regions for Hoverboard Market?

Hoverboard-Market-Market-Share-by-Region-2020-2025

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35% of the market’s growth will originate from North America during the forecast period. The US is a key market for hoverboards in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

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.

What are the Revenue-generating Wheel Size Segments in the Hoverboard Market?

Hoverboard-Market-Market-Share-by-Wheel Size-2020-2025

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The hoverboard market share growth by the compact size segment will be significant during the forecast period. The advantage of a compact size hoverboard is that the battery life is longer than its counterparts and, on average, can last for 4-5 hours on a single charge. A compact size hoverboard has a lower load-carrying capacity. The maximum weight limit for a rider using a compact size hoverboard is 220 lbs. However, these hoverboards are generally cheaper than their larger counterparts. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the hoverboard market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Hoverboard Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hoverboard market growth during the next five years
  • Precise estimation of the hoverboard market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hoverboard industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hoverboard market vendors

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Hoverboard Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1.63%

Market growth 2021-2025

$ 402.93 million

Market structure

Fragmented

YoY growth (%)

1.94

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 35%

Key consumer countries

US, China, Germany, Japan, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

EPIKGO, Fosjoas Technology Co. Ltd., Hangzhou Chic Intelligent Technology Co. Ltd., Inventist Inc., Jetson Electric Bikes LLC, Lamboscooter, Omni Hoverboards Inc., Razor USA LLC, Segway Inc., and SWAGTRON

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for 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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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hoverboard market growth will increase by $268.68 million during 2019-2024.
The hoverboard market is expected to grow at a CAGR of 1.09% during 2019-2024.
Technavio has segmented the hoverboard market by other1 (Compact size, Mid-size, and Full-size) and geographic (North America, APAC, Europe, South America, and MEA).
EPIKGO, Fosjoas Technology Co. Ltd., Hangzhou Chic Intelligent Technology Co. Ltd., Inventist Inc., Jetson Electric Bikes LLC, Lamboscooter, Omni Hoverboards Inc., Razor USA LLC, Segway Inc., SWAGTRON are a few of the key vendors in the hoverboard market.
North America will register the highest growth rate of 40.49% among the other regions. Therefore, the hoverboard market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the hoverboard market growth are:
  • Growing R&D on supercapacitors to replace lithium-ion batteries
The hoverboard market vendors should focus on grabbing business opportunities from the compact size segment as it accounted for the largest market share in the base year.
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