Global Hoverboard Market Trends, Opportunities & Growth Forecasted at 6.1% CAGR during 2017- 2022

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Dublin 2, Ireland, 2018-Jul-02 — /EPR Network/ — According to the recent study conducted by FactMR, the global hoverboard market will surpass a valuation of US$ 1,700 Mn. The demand for hoverboards has gained traction owing to its increasing affordability. Manufacturers are trying to make the product accessible to a wide pool of consumers, which has led to the availability of hoverboards at a lower-price range.  The rising trend of using new-age electronic devices and increasing reliance on mobility equipment is fueling the demand for hoverboard in developed markets.

APEJ’s Hoverboard Market to Remain More Lucrative than Markets in North America & Europe

Asia-Pacific excluding Japan (APEJ) is to remain the most lucrative market for hoverboard in 2022, and the trend is anticipated to continue over the next couple of years. During the forecast period, the hoverboard market in APEJ is projected to expand at a strong CAGR of 6.2%.

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Global Hoverboard Market – Key Insights

Among regions, the market in Asia-Pacific excluding Japan (APEJ) is expected to present lucrative growth opportunities for players during the forecast period. China remain one of the largest producers of cost-effective electric vehicles including hoverboards. Manufacturing of single and double wheeled hoverboards is expected further escalate in China over the next few years. This, in turn, is projected to support the growth of the market in the region over 2022.

Based on product type, demand for double wheeled hoverboads is expected to remain strong throughout the assessment period. Global sales of double wheeled hoveboard currently command for over 80% share of the market in terms of revenue. Superior design and more convenience of riding makes double wheeled hoverboads more preferred among consumers.

By wheel size, consumer preference for hoverboards with 6.5 inch wheel size will remain strong in 2017 and beyond. Currently, sale of hoverboards with 6.5 inch wheel sizes more one-third revenue share of the market. Over 1,070 Mn units of hoverboards with 6.5 inch wheel size is expected to be shipped globally towards the end of 2022.

On the basis of application, the recreational activities application segment will retain its top position over 2022. In terms of revenue, the segment presently account for over 70% market share. Between 2017 and 2022, the recreational activities segment is set to reflect a robust CAGR of 6.5%, and surpass a market valuation in excess of US$ 1,300 Mn.

Double Wheeled will Remain the Most Sought-After Hoverboard Type

On the basis of product type, demand for double wheeled segment will continue to grow in 2017 and beyond. Presently, the segment accounts for more than two-third share of the market in terms of revenue. The double wheeled product type segment is expected to grow at around US$ 75.6 Mn annually over the course of the forecast period.

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Table of Contents:

1. Global Hoverboard Market – Executive Summary

2. Global Hoverboard Market Overview

3. Global Hoverboard Market Analysis and Forecast By Product Type 

4. Global Hoverboard Market Analysis and Forecast By Wheel Size 
4.1. Global Hoverboard Market Size and Forecast By Wheel Size, 2012-2022
4.1.1. 6.5 inch Hoverboard Market Size and Forecast, 2012-2022
4.1.1.1. Revenue (US$ Mn) Comparison, By Region
4.1.1.2. Market Share Comparison, By Region
4.1.1.3. Y-o-Y growth Comparison, By Region
4.1.2. 8 inch Hoverboard Market Size and Forecast, 2012-2022
4.1.2.1. Revenue (US$ Mn) Comparison, By Region
4.1.2.2. Market Share Comparison, By Region
4.1.2.3. Y-o-Y growth Comparison, By Region

5. Global Hoverboard Market Analysis and Forecast By Application
5.1. Global Hoverboard Market Size and Forecast By Application, 2012-2022
5.1.1. Recreational Activities  Hoverboard Market Size and Forecast, 2012-2022
5.1.1.1. Revenue (US$ Mn) Comparison, By Region
5.1.1.2. Market Share Comparison, By Region
5.1.1.3. Y-o-Y growth Comparison, By Region

Continued…….

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