Global Self-balancing Scooter and Hoverboard Market by Product Types, Application Types and Regions - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

The self-balancing scooter and hoverboard market is expected to expand, expanding at a substantial CAGR during the forecast period 2020–2026.

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A self-balancing scooter, also called a hoverboard, is a one or two wheeled powered vehicle that balances both rider and itself on the basis of the driver’s leaning action. The in-built sensors measure the rate and pitching angle and send signals to the motor to drive accordingly, thus balancing the scooter. These scooters contain lithium-ion-batteries and can be fully charged within three hours. They can easily cover distance up to 10–15 km with one full charge. The device has three 6.5 inches (170 mm), 8 inches (200 mm), 10 inches (250 mm) diameter wheel variants connected to a self-balancing control mechanism using built-in gyroscopic and a sensor pad.

By tilting the pad, the rider can control the speed and direction of travel achieving speeds from 6 to 15 miles per hour (9.7 to 24 km/h) with a range of up to 15 miles (24 km) dependent on model, terrain, rider weight and other factors. As with most wheeled vehicles where the rider is exposed, consumer Reports has recommended that users wear appropriate safety gear while using them. In 2019, hoverboards now feature a self-balancing mode, in which the motors automatically engage the gyroscope in the opposite direction. This way, when the rider leans forward or backward the board is always attempting to level itself, making it easier to ride than its 2016 predecessors.

Market Trends, Drivers, Restraints, and Opportunities:

The key factor driving the growth of the self-balancing scooter market includes the balancing act of the scooter. It is easier to accelerate, stop, and operate the scooter. Moreover, self-balancing scooters are eco-friendly and light-weight, making them convenient to carry it anywhere. It runs on rechargeable batteries and is noiseless. Thus, owing to the low power consumption and low maintenance cost, a self-balancing scooter is considered to be a better alternative to walking as well as regular electric scooters and is increasingly used in parks, manufacturing facilities, shopping complexes, etc. across several countries of the world.
The key restraint affecting the self-balancing scooter market includes the early reporting of improper functioning of the device and overheating of battery, leading to catching of fire. Owing to this, these scooters are banned in several countries as a part of safety regulation. However, after increased investment in research and development as well as advertising and marketing strategies, self-balancing scooter manufacturers are again expecting to witness growth in countries across the world. Despite this, high cost and lack of awareness are still expected to be major hindrances for self-balancing scooter manufacturers, especially in the developing countries of the world.
The opportunity anticipated to boost the self-balancing scooter market includes its increasing demand in college campuses owing to its stylish look and fun ride experience. Also, it is noise-free and operates on electricity, thus causing no pollution. Apart from being environment friendly, it incorporates advanced features including wireless charging and Bluetooth. Thus, the increasing inclination toward advanced electronic devices is expected to provide opportunities to the self-balancing scooter market in college campuses in the near future.

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Competitive Landscape:

CoolReall
Esway (Shenzhen Ocam Electronic Technology)
eVoy Technologies
Freego
Hangzhou Chic Intelligent Technology
Hoverboard Vault
HoverTech
Inventist
Koogo Technology
MonoRover
PhunkeeTree
The Powerboard
Razor USA
RioRand Advanced Technology
Shenzhen Iezway Technology
Skque Products
Swagway Hoverboard

The Global Self-Balancing Scooter and Hoverboard Market has been segmented on the basis of

Product Types

5 inches
8 inches
10 inches

Application types

Teenagers
Adults

Regions

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

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Table of Contents

Executive Summary
Assumptions and Acronyms Used
Research Methodology
Self-balancing Scooter and Hoverboard Market Overview
Global Self-balancing Scooter and Hoverboard Market Analysis and Forecast by Type
Global Self-balancing Scooter and Hoverboard Market Analysis and Forecast by Application
Global Self-balancing Scooter and Hoverboard Market Analysis and Forecast by Sales Channel
Global Self-balancing Scooter and Hoverboard Market Analysis and Forecast by Region
North Self-balancing Scooter and Hoverboard Market Analysis and Forecast
Latin Self-balancing Scooter and Hoverboard Market Analysis and Forecast
Europe Self-balancing Scooter and Hoverboard Market Analysis and Forecast
Asia Pacific Self-balancing Scooter and Hoverboard Market Analysis and Forecast
Middle East & Africa Self-balancing Scooter and Hoverboard Market Analysis and Forecast
Competition Landscape

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