NEW YORK, NY -- The market for hoverboards is primarily dependent on the demand generated from recreational activities across different parts of the World. Apart from the recreational and leisure activities, the market growth is also supported by inclining interest in battery operated self-balancing scooters, commonly known as hoverboard across variety of business applications. The market of hoverboards is also impacted by the policies and regulations which have been evolving across several regions of the world. On the other hand, the hoverboard industry has been witnessing several restraints such as lack of safety standards and stringent regulations & policies in different geographies. Hence, the growth of global hoverboard market is poised to gain momentum, once the issues pertaining to regulatory framework and safety standards are resolved.
Global Hoverboards Market: Outlook
In 2015, the Hoverboard market, which is broadly segmented according to its size and applications, has exhibited a rise in its demand globally. The market for Hoverboard is anticipated to grow at a brisk pace during the next five years backed by continuous product improvisation inculcated by global hoverboard manufacturers. Another factor supporting the upsurge in demand is expected growth in business applications of hoverboards which is expected to propel its demand over the next five years. Moreover, expected evolution of favourable policy and regulatory framework for the use of hoverboard across different countries is anticipated to fuel the market growth.
Global Hoverboard Market: Key Drivers
In 2016, the market is immensely affected by bans imposed on the use of hoverboard on roads across several cities of some major countries such as New York and California in United States, New South Wales in Australia, Netherlands, Dubai, etc. However, the growing demand in other parts of World such as Asia and South America has been supporting the global market for hoverboard. Backed by anticipated changes in the government regulations related to operation of hoverboard in many countries coupled with increasing investments on product differentiation, the global hoverboard market possess bullish long term outlook.
Hoverboards are expected to be widely used by national zoo and parks across various countries. Increasing utilization of hoverboards by institutes such as zoo is anticipated to propel the demand for hoverboards globally.
Global Hoverboard Market: Region Wise Outlook
The global hoverboard market is segmented into five major regions: North America, South America, Europe, Asia-Pacific and Rest of the World (Middle East & Africa, and Russia & CIS). For each stated region, the market size is closely estimated and future forecasts have been given. Amongst several countries, China has emerged as one of the prominent manufacturers of hoverboards, thereby emerging as lucrative market for low cost hoverboards in the world. The hoverboard industry which is majorly innovation driven, is expected to be dominated by technologically advanced nations over the next five years.
Global Hoverboard Market: Segmentation
The Global Hoverboard Market can be segmented on the basis of hoverboard type and region.
Based on the Hoverboard Type, the Global Hoverboard Market is be divided into the following segments on the basis of wheel size:
Based on the Region, the Global Hoverboard Market is divided into the following segments:
•Rest of the World (Middle East & Africa, Russia & CIS)
Global Hoverboard Market: Key Players
•Key players in the Global Hoverboard market include IO Hawk, Ninebot, Inventist, Phunkeeduck, Imoto, Osdrich, etc.
•Information on these key players is covered in the Global Hoverboard Market report. The report provides detailed company profiles with key segments including business segments, product offerings, and facts and figures along with operating history of the company.
The report is an outcome of in-depth primary and secondary research by industry experts. This market research report is a strategic guide to industry players catering to the hoverboard market across the geographies. The key trends and growth drivers, challenges, etc. have been taken into consideration before devising the global as well as the regional market size and market share of the global hoverboard market. The report discusses in detail about the reasoning behind current market growth as well as historical market size and analysis, along with the forecast market size and key reasons for the same for global as well as regional segments of the report.
•Global hoverboard Market Size, Share & Forecast
•Country Level Analysis
•Europe & CIS Countries
•Rest of the World
•Segmental Analysis - By Hoverboard Type, By Region, By Country and By Company
•Changing Market Trends & Emerging Opportunities
•Competitive Landscape & Strategic Recommendations
Key Questions This Study Will Answer
•What are the key drivers which will drive the market to next level?
•Which are the demand dominating regions and how these regions will grow in the coming years?
•Who all are the key players providing hoverboard? What is the market share of key players in the Global Hoverboard Market and how market share dynamics will change in the coming years?
Mr. Ken Mathews
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