Global Hoverboard Market Size To Exceed USD 15.46 Billion By 2033: Forecast Analysis Report

Global Hoverboard Market Size To Exceed USD 15.46 Billion By 2033 

According to a research report published by Spherical Insights & Consulting, The Global Hoverboard Market Size is Expected to Grow from USD 8.18 Billion in 2023 to USD 15.46 Billion by 2033, at a CAGR of 5.47% during the forecast period 2023-2033.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Hoverboard Market Size, Share, and COVID-19 Impact Analysis, By Type (Single Wheel and Double Wheel), By Application (Recreational, Personal Mobility, and Commercial), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033        

The hoverboard market refers to the global industry involved in the design, manufacturing, distribution, and sale of self-balancing electric scooters, commonly known as hoverboards. These devices typically consist of two motorized wheels connected by a platform and are powered by rechargeable batteries. Users control movement by shifting their body weight, making them popular for short-distance personal transportation. Moreover, the hoverboard market is driven by growing demand for eco-friendly personal transport, rising urban congestion, and increasing consumer interest in smart mobility gadgets. Technological advancements, including Bluetooth connectivity and mobile app integration, enhance the user experience. Additionally, strong e-commerce growth and hoverboards’ popularity as recreational and gifting products contribute to expanding market adoption across diverse age groups. However, the hoverboard market is restrained by safety concerns, regulatory restrictions, limited battery life, and terrain limitations, which collectively hinder widespread adoption and consumer confidence in certain regions.

The double wheel segment accounted for the largest share of the global hoverboard market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on type, the global hoverboard market is divided into the single wheel, double wheel. Among these, the double wheel segment accounted for the largest share of the global hoverboard market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This dominance is attributed to their superior stability, user-friendly design, and widespread availability, making them particularly popular among beginners and casual users. Additionally, double-wheeled hoverboards are favoured for both personal and commercial applications due to their enhanced safety features and ease of use.  

The personal mobility segment accounted for a substantial share of the global Hoverboard market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the application, the global hoverboard market is divided into recreational, personal mobility, and commercial. Among these, the personal mobility segment accounted for a substantial share of the global Hoverboard market in 2023 and is anticipated to grow rapidly during the projected period. This is driven by rising urbanization, demand for eco-friendly mobility, and convenience for short-distance travel. Recreational use follows, while commercial applications like last-mile delivery are steadily gaining momentum.  

Europe is projected to hold the largest share of the global hoverboard market over the projected period. 

Europe is projected to hold the largest share of the global hoverboard market over the projected period.  This dominance is driven by strong consumer demand for eco-friendly commuting solutions, stringent safety regulations, and the presence of major manufacturers in countries like Germany, France, and the UK.

North America is expected to grow at the fastest CAGR of the global hoverboard market during the projected period.  The United States leads this region, propelled by high disposable incomes, a tech-savvy population, and the widespread availability of hoverboards through robust e-commerce platforms. Additionally, stringent safety standards enforced by regulatory bodies like the Consumer Product Safety Commission (CPSC) have enhanced consumer confidence, further boosting market growth.

Company Profiling

Major vendors in the global hoverboard market are Segway Inc., Razor USA LLC, TOMOLOO Technology Industrial Co. Ltd., Airwheel Technology Co. Ltd., Ninebot Inc., JIALIKE Electronic Company Ltd., Shenzhen Rooder Technology Co. Ltd., SURFUS, Hangzhou Chic Intelligent Technology Co., HaloBoard, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2024, Lexus introduced an innovative collaboration to roll out a distinctive NFT that is related to its hoverboard as a part of its wider marketing approach. This strategy aims to draw in both present clients and other crowds by linking digital assets to their brand life.

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global hoverboard market based on the below-mentioned segments:

Global Hoverboard Market, By Type 

• Single Wheel
• Double Wheel

Global Hoverboard Market, By Application

• Recreational
• Personal Mobility
• Commercial

Global Hoverboard Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa