PUBLISHER: Grand View Research | PRODUCT CODE: 1726242
PUBLISHER: Grand View Research | PRODUCT CODE: 1726242
The global hoverboard market size is expected to reach USD 2.35 billion by 2030 and is expected to grow at a CAGR of 6.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. One of the primary drivers of this growth is the increasing demand for personal transportation solutions. As urban areas become more congested, many individuals are seeking compact and efficient modes of transport for short distances. Hoverboards offer a convenient and eco-friendly alternative, appealing to commuters, students, and urban dwellers alike. Their compact size allows for easy navigation through crowded streets, making them an attractive option for those looking to avoid traffic congestion.
Technological advancements also play a significant role in boosting the hoverboard market. Innovations such as improved battery life, enhanced safety features, and smart functionalities-such as Bluetooth connectivity and app integration have made hoverboards more appealing to consumers. These features not only enhance user experience but also promote the hoverboard as a fun and engaging mode of transportation, particularly among younger generations.
In addition, rising disposable incomes are contributing to the market's expansion. As consumers have more financial flexibility, they are increasingly willing to invest in personal mobility devices that offer both practicality and enjoyment. This trend is particularly evident in regions such as Asia Pacific, where economic growth has led to a surge in demand for recreational and commuting devices. The growing emphasis on sustainability is another factor driving the popularity of hoverboards. With an increasing awareness of environmental issues, many consumers are opting for electric-powered transportation options that produce zero emissions. Hoverboards align well with this green mobility trend, making them an attractive choice for eco-conscious consumers.
Moreover, the rise of e-commerce has made hoverboards more accessible than ever. Online platforms allow consumers to easily compare products and prices, increasing awareness and interest in various hoverboard models. This accessibility is especially appealing to tech-savvy younger generations who prefer shopping online.