Hoverboard Market Size Worth $1,384.19 Million By 2032 | CAGR: 4.90%

The global hoverboard market size is expected to reach USD 1,384.19 million by 2032, according to a new study by Polaris Market Research. The report “Hoverboard Market Share, Size, Trends, Industry Analysis Report, By Product Type (Single Wheeled and Double Wheeled); By Application; By Sales Channel; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising popularity of the product among the commercial sector as well as the kid population, along with the emerging trend of green mobility, low-cost batteries, and continuous rise in awareness regarding the benefits of using these commute solutions on the environment through the reduction of carbon footprint, has been influencing the global market growth. 

The introduction of highly innovative hoverboards with advanced capabilities and the influence of social media worldwide have played a significant role in popularizing hoverboards, as many have seen its features and benefits on social media, which has helped to create a buzz around the product and increase its appeal to a wider audience. For instance, In April 2022, Currys announced the launch of its new range of hoverboards that could easily fly up to 4 feet in height, presently on sale at the UK omnichannel retailer Currys. The new hoverboards are mainly designed to move a person from A to B without having to get traffic daily and are available in a wide range of colors.

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Previously, hoverboards had limited battery life, making them less practical and capable for daily use. However, with the recent development of lithium-ion batteries, hoverboards can run for longer distances and have a longer lifespan, fueling their adoption among many people globally. Additionally, many modern hoverboards come with mobile apps that allow users to customize their ride settings, track their riding statistics, and even control the hoverboard remotely. This integration with smartphones and other advanced mobile devices has made hoverboards more user-friendly and customizable.

Hoverboard Market Report Highlights

• Single wheeled segment is expected to grow at the fastest CAGR during the projected period, mainly driven by its growing adoption because of the integration of gyroscopic sensors and its ability to provide a unique riding experience
• Recreational activities segment held the majority market share in 2022, on account of the rising number of people participating in outdoor fitness activities and the growing popularity of hoverboards as a fun activity on picnics and beach trips
• Online segment accounted for the largest market share in 2022, which is highly attributable to an increase in internet penetration and the surging number of people opting for online platforms for purchasing hoverboards
• Europe region dominated the market with considerable market share in 2022, owing to the emergence of various sustainable transportation solutions and the incorporation of high-tech features
• The global key market players include TOMOLOO Technology Industrial, JIALKE Electronic Evoy Technologies, Ninebot, and Chic Intelligent Technology

Polaris Market Research has segmented the hoverboard market report based on product type, application, sales channel, and region:

Hoverboard, Product Type Outlook (Revenue - USD Million, 2019- 2032)

• Single Wheeled
• Double Wheeled

Hoverboard, Application Outlook (Revenue - USD Million, 2019- 2032)

• Recreational Activities
• Business Purpose
• Personal Mobility

Hoverboard, Sales Channel Outlook (Revenue - USD Million, 2019- 2032)

• Modern Trade
• Specialty Stores
• Departmental Stores
• Online
• Sports Stores
• Others

Hoverboard, Regional Outlook (Revenue - USD Million, 2019- 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Hoverboard Market Report Scope