Analysis of Hoverboard Market Size by Research Nester Reveals the Market to Grow with a CAGR of 6.7% During 2024-2036 and attain USD 1.8 billion by 2036

Research Nester’s recent market research analysis on “Hoverboard Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor's analysis and a detailed overview of the global Hoverboard Market in terms of market segmentation by product, sales channel, size, application, and by region.
Growing need for local commuting to promote the global market share of the hoverboard market.
The global hoverboard market is estimated to grow majorly on account of the widespread adoption of hoverboards globally, as they are self-balancing scooters that are used for personal entertainment and transportation. Soon, hoverboard technology is expected to undergo several developments that should increase its efficacy, safety, and accessibility for a larger range of users. For instance, to commute from a train station to the workplace one can use a hoverboard. According to a survey done by Euromonitor International’s Mobility in 2020, about 52% of respondents commute 5 or more days a week, while 63% spend 15 to 60 minutes everyday on commuting . Using a hoverboard can make it a more efficient and convenient mode to commute.
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Some of the major growth factors and challenges that are associated with the growth of the Hoverboard market are:
Growth Drivers:
· Increase in eco-friendly commuting
· Demand for green mobility
Challenges:
• The presence of concerns related to the need for local commutes as hoverboards are self-balancing scooters that are widely used for transportation and personal entertainment around the world. Moreover, professionals with the necessary training are needed to operate hoverboards effectively. Due to its unusual design, there is a higher chance of accidents, which raises public safety concerns.
By product, the hoverboard market is segmented into single-wheeled and double-wheeled. The single-wheeled segment is estimated to garner a significant market share over the forecast period. The segment’s growth is attributed to its more affordable price compared to others and greater suitability for practically all surface types. Moreover, single-wheeled hoverboards use gyroscopic sensors and other electronics to balance the rider on a single wheel, offering a distinctive riding experience. Tech-savvy buyers who are always looking for the newest and most creative gadgets are drawn to these hoverboards.

By region, The Europe region is expected to generate the highest revenue by the end of 2023. In 2023, the Europe market has dominated the global sales, by about 38.2%. This growth was mainly fueled by the surge in the slated demand for eco-friendly solutions boosted by their rising awareness of sustainability. European Environment Agency in 2024 reported that electric vehicles such as electric cars in Europe are increasing with a growth rate of 23% in 2023 as compared to previous years . There is a high demand for efficient and convenient commuting alternatives, as the European Cyclist Federation 2022, stated that most Germans would prefer public transport and bicycles to commute over their cars.
This report also provides the existing competitive scenario of some of the key players of the Hoverboard market which includes Swagtron, Ninebot Inc., HaloBoard, Segway Inc., TOMOLOO Technology Industrial Co. Ltd., SURFUS, Hangzhou Chic Intelligent Technology Co., Shenzhen Rooder Technology Co. Ltd., JIALIKE Electronic Company Ltd., and many more.
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https://www.researchnester.com/reports/hoverboard-market/6289
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