Hoverboard Market Report 2025 (Global Edition)

Global Hoverboard Market Report 2025 Market Size Split by Product Type (Single Wheeled, Double Wheeled), by Wheel size (6.5 inch, 8 inch, 10 inch), by Application (Recreational Activities, Business Pu...

Hoverboard Market Report Description

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Competitive Landscape of the Hoverboard Market

The Hoverboard Market is characterized by a diverse and competitive landscape, with numerous players striving to capture market share through innovation, quality, and strategic positioning. Key players in the market include established companies like Segway, Razor, and Swagtron, which are known for their robust product offerings and strong brand presence.

June 2021: Dun-rite has launched their new innovative hoverboard comprising a floral expandable peddle board which is 32 inches wide and can spare upto 435 pounds of weight. (Source: https://www.whatech.com/og/markets-research/transport/732990-emerging-trends-in-eco-friendly-transportation-to-drive-growth) November 2021: Funky Sup introduced their trendy product aiming the youngsters that attributes 2D and 3D pictures of sea critters on the stand up paddle board. (Source: https://www.shutterstock.com/search/paddleboard)

Top Companies Market Share in Hoverboard Industry: (In no particular order of Rank)

• Swagtron
• Airwheel
• Razor Hovertrax
• IO HAWK
• Megawheels
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Regional Analysis of the Hoverboard Market

Which Region Dominates the Hoverboard Market in 2024?

According to Cognitive Market Research, North America dominates the Hoverboard Market due to high disposable incomes, strong consumer demand for innovative personal transportation devices, and a well-established retail and e-commerce infrastructure. The region's technological advancements and early adoption of new technologies drive the popularity of hoverboards. Additionally, the presence of major market players, extensive marketing campaigns, and a growing trend toward eco-friendly transportation solutions contribute to the market's growth.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is the fastest-growing region in the Hoverboard Market due to rapid urbanization, increasing disposable incomes, and a burgeoning middle class with a growing appetite for innovative and affordable personal transportation devices. The region's dense population and traffic congestion issues drive demand for compact and efficient mobility solutions. Additionally, the presence of leading manufacturers in China, along with low production costs and extensive supply chains, boosts market growth.

 

The current report Scope analyzes Hoverboard Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Hoverboard

According to Cognitive Market Research, the global Hoverboard market size was estimated at USD 815.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 326.08million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7%from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Hoverboard market with a market size of USD 257.28million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. The demand is amplified by the nation's rising consumer interest in recreational activities.
• The Canada Hoverboard market had a market share of USD 39.13 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Canada's rising consumer interest in recreational activities to increased usage of Hoverboard.
• The Mexico Hoverboard market is projected to witness growth at a CAGR of 5.2% during the forecast period,with a market size of USD 29.67million in 2024.

Europe Hoverboard

According to Cognitive Market Research, the global Hoverboard market size was estimated at USD 815.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 244.56million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0%from 2024 to 2031.

• The United Kingdom Hoverboard market had a market share of USD 41.09million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. In the UK, Hoverboard sales witness an upswing due to the nation's increasing popularity in recreational activities.
• The France Hoverboard market is projected to witness growth at a CAGR of 4.2% during the forecast period,with a market size of USD 22.50 million in 2024.
• According to Cognitive Market Research, the Germany Hoverboard market size was valued at USD 48.42million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period. In Germany, Hoverboard sales surged due to the increasing popularity in recreational activities.
• The Italy Hoverboard market is projected to witness growth at a CAGR of 4.4% during the forecast period,with a market size of USD 21.03 million in 2024.
• The Russia Hoverboard market is projected to witness growth at a CAGR of 4.0% during the forecast period,with a market size of USD 37.91 million in 2024.
• The Spain Hoverboard market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 20.05 million in 2024
• The LuxembourgHoverboard market is projected to witness growth at a CAGR of 5.1%during the forecast period, with a market size of USD 7.58million in 2024.
• The PortugalHoverboard market is projected to witness growth at a CAGR of 4.8%during the forecast period, with a market size of USD 5.14million in 2024.
• The GreeceHoverboard market is projected to witness growth at a CAGR of 5.3%during the forecast period, with a market size of USD 2.93million in 2024.
• Rest of Europe'sHoverboard market is projected to witness growth at a CAGR of 3.7%during the forecast period, with a market size of USD 37.91million in 2024.

Asia Pacific Hoverboard

According to Cognitive Market Research, the global Hoverboard market size was estimated at USD 815.2Million, out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD 187.50million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5%from 2024 to 2031.

• According to Cognitive Market Research, the China Hoverboard market size was valued at USD 84.37million in 2024 and is projected to grow at a CAGR of 8.0%during the forecast period. Hoverboard sales surge in China due to the increasingly adopting hoverboards for leisure purposes.
• The Japan Hoverboard market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 25.87million in 2024.
• The India Hoverboard market had a market share of USD 22.50 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period. India's increasingly adopting hoverboards for leisure purposes.
• The South Korea Hoverboard market is projected to witness growth at a CAGR of 7.6%during the forecast period,with a market size of USD 18.75 million in 2024.
• The Australia Hoverboard market is projected to witness growth at a CAGR of 8.2%during the forecast period,with a market size of USD 9.75 million in 2024.
• The South East Asia Hoverboard market is projected to witness growth at a CAGR of 9.5%during the forecast period, with a market size of USD 12.94million in 2024.
• The Rest of Asia Pacific Hoverboard market is projected to witness growth at a CAGR of 8.3%during the forecast period, with a market size of USD 13.31million in 2024.

South America Hoverboard

According to Cognitive Market Research, the global Hoverboard market size was estimated at USD 815.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 40.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9%from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Hoverboard market size was valued at USD 17.45 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Hoverboard sales flourish in Brazil due to the increasing adoption across distinct applications.
• Argentina Hoverboard market had a market share of USD 6.85million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. Argentina's increasing adoption across distinct applications.
• Colombia Hoverboard market is projected to witness growth at a CAGR of 5.7%during the forecast period with a market size of USD 3.63 million in 2024.
• Peru Hoverboard market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 3.34 million in 2024.
• Chile Hoverboard market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 2.93 million in 2024.
• The Rest of Latin America Hoverboard market is projected to witness growth at a CAGR 5.0% during the forecast period,with a market size of USD 6.56million in 2024.

Middle East Hoverboard

According to Cognitive Market Research, the global Hoverboard market size was estimated at USD 815.2 Million, out of which the Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD 16.30million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2%from 2024 to 2031.

• The GCC Countries Hoverboard market is projected to witness growth at a CAGR of 7.0%during the forecast period with a market size of USD 6.98 million in 2024. Hoverboard sales flourish due to the gaining popularity among consumers seeking innovative ways to engage in outdoor leisure pursuits.
• The Egypt Hoverboard market is projected to witness growth at a CAGR of 6.5%during the forecast period, with a market size of USD 1.71 million in 2024.
• The South Africa Hoverboard market is projected to witness growth at a CAGR of 7.2% during the forecast period,with a market size of USD 2.58million in 2024. Hoverboard sales flourish in South Africa due to the gaining popularity among consumers seeking innovative ways to engage in outdoor leisure pursuits.
• The Turkey Hoverboard market is projected to witness growth at a CAGR of 5.7% during the forecast period,with a market size of USD 1.40million in 2024.
• The Nigeria Hoverboard market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 1.71 million in 2024.
• The Rest of MEA Hoverboard market is projected to witness growth at a CAGR of 5.2%during the forecast period,with a market size of USD 1.92million in 2024.

Hoverboard Market Analysis

Hoverboard MarketTypeSegment Analysis

According to Cognitive Market Research, Double wheeled category stands out as the dominant segment. Its stability and ease of use make it the preferred choice among consumers, particularly beginners and recreational users. The design, which provides a balanced and secure ride, appeals to a wide demographic, including children and adults. Additionally, the widespread availability and competitive pricing of Double wheeled hoverboards contribute to their dominance in the market. The robust presence of these hoverboards in both physical stores and online platforms further cements their leading position, making them the go-to option for hoverboard enthusiasts.

The single-wheeled hoverboard category is experiencing the fastest growth in the market. Known for their agility and advanced maneuverability, single-wheeled hoverboards are becoming increasingly popular among experienced riders and tech enthusiasts. Their unique design offers a thrilling riding experience that appeals to adventure seekers and urban commuters looking for a compact and efficient mode of transportation. The rising trend of urban mobility and the demand for innovative personal transport solutions are driving the rapid adoption of single-wheeled hoverboards, positioning them as the fastest-growing segment in the hoverboard market.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Hoverboard Industry. Request a Free Sample PDF!

Hoverboard Market Wheel size Segment Analysis

According to Cognitive Market Research, the 6.5-inch wheel size category holds the dominant position. Its popularity stems from its balanced performance and versatility, making it suitable for a wide range of users, from children to adults. The 6.5-inch wheels provide a stable and comfortable ride on smooth surfaces, which is ideal for beginners and casual riders. Additionally, these hoverboards are generally lighter and more affordable compared to larger wheel sizes, enhancing their accessibility and appeal. The combination of affordability, ease of use, and widespread availability has cemented the 6.5-inch hoverboards as the dominant choice in the market.

The 10-inch wheel size category is experiencing the fastest growth in the hoverboard market. The larger wheel size offers superior stability and performance on various terrains, including uneven and rough surfaces, which attracts more adventurous and experienced riders. This versatility makes 10-inch hoverboards appealing for outdoor activities and commuting, driving their rapid adoption. The increasing interest in off-road capabilities and the demand for robust, high-performance hoverboards are key factors fueling the growth of the 10-inch wheel size category, making it the fastest-growing segment in the market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Hoverboard Application Segment Analysis

Application Segment Analysis

According to Cognitive Market Research, the recreational activities category holds the dominant position. Hoverboards designed for recreation are immensely popular among teenagers and young adults, who use them for fun and leisure. The vibrant designs, advanced features, and affordability of recreational hoverboards make them an attractive choice for this demographic. Additionally, the growing trend of hoverboard parks and communities where users can gather and ride together further enhances their appeal. The widespread popularity and social aspect of using hoverboards for recreational activities have firmly established this category as the market leader.

The personal mobility category is experiencing the fastest growth in the hoverboard market. As urbanization continues to rise, there is an increasing need for efficient, eco-friendly, and cost-effective transportation solutions. Hoverboards designed for personal mobility cater to commuters seeking an alternative to traditional modes of transport. They offer convenience and ease of use for short-distance travel, especially in congested urban areas. The rising awareness of environmental sustainability and the desire for innovative personal transport options are driving the rapid adoption of hoverboards for personal mobility, making it the fastest-growing segment in the market.

• Recreational Activities
• Business Purpose
• Personal Mobility

Hoverboard Sales Channel Segment Analysis

According to Cognitive Market Research, the online sales channel holds the dominant position. The convenience and accessibility of online shopping have made it the preferred choice for consumers. Customers can easily compare prices, read reviews, and choose from a wide variety of models and brands without leaving their homes. Additionally, online platforms often offer competitive pricing and promotions, further attracting buyers. The growing prevalence of e-commerce, coupled with the increasing trust in online payment systems and fast delivery options, has solidified the online sales channel as the leading category in the hoverboard market.

The specialty stores are experiencing the fastest growth in the hoverboard market. These stores provide a tailored shopping experience with knowledgeable staff who can offer expert advice and personalized recommendations. As consumers become more informed and selective about their purchases, the demand for specialized services and high-quality products increases. Specialty stores often carry premium brands and the latest models, appealing to enthusiasts and serious buyers looking for superior performance and features.

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

Hoverboard Speed Limit Segment Analysis

Speed Limit Segment Analysis

According to Cognitive Market Research, hoverboards with a speed limit of less than 15 km/h dominate the market. These hoverboards are primarily favored for their safety and ease of use, making them suitable for a wide range of users including children, beginners, and casual riders. The lower speed limit enhances stability and control, which is particularly appealing for recreational use and indoor environments. Additionally, hoverboards with slower speeds often comply with regulations in many areas, further boosting their popularity. The emphasis on safety, user-friendly features, and broad accessibility has firmly established hoverboards with a speed limit of less than 15 km/h as the dominant category in the market.

The hoverboards with a speed limit of more than 15 km/h are experiencing the fastest growth in the market. These models cater to enthusiasts and experienced riders who seek faster speeds and enhanced performance capabilities. The higher speed limit allows for quicker commutes and more exhilarating rides, appealing to users looking for an adrenaline rush or efficient transportation option. Advances in battery technology and motor power have enabled manufacturers to produce hoverboards that can achieve higher speeds without compromising safety.

• Less than 15 Kmh
• More than 15 Kmh

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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