The electric skateboard market has seen increased
adoption in recent years. Electric skateboards consist of a deck, wheels and
motor powered by lithium-ion batteries. They provide hassle-free commuting
while reducing carbon footprint. Electric skateboards offer advantages like
ease of use, maneuverability and portability compared to other modes of
transport. Their growing popularity among young adults and commuters is driving
the demand.
Global electric
skateboard market is estimated to be valued at US$ 4.07 Billion in 2024 and
is expected to reach US$ 9.10 Billion by 2031, exhibiting a
compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the electric skateboard market include
Boosted Boards, Mellow Boards, Inboard, Marbel, Evolve Skateboards and Exway.
Key opportunities: Growing investments in development of advanced batteries,
controllers and hub motors by manufacturers are opening new opportunities.
Rising adoption in sharing mobility services also provides scope for market
expansion.
Technological advancements: Developments in battery technology, improvement in
range per charge and introduction of new intelligent features controlled via
smartphone apps are positively impacting the electric skateboard market.
Market drivers:
Increasing environmental concerns combined with favorable government policies
promoting electric vehicles for commuting are major Electric
Skateboard Market Demand. Growing popularity among youth and trend of
micro-mobility solutions for last-mile connectivity are propelling the demand
for electric skateboards.
Current Challenges in the Electric Skateboard Market
The electric skateboard market is still at a nascent stage and faces various
challenges. Range anxiety and battery life issues top the list of concerns.
Most electric boards can only travel 12-15 miles on a single charge, making
them unsuitable for long-distance commuting. Finding replacement batteries is
also difficult at times. Safety is another major issue as Electric
Skateboard Market Size and Trends can reach high speeds without proper
safety gear like helmets. Road accidents can occur easily. High prices also
limit mass adoption as premium electric skateboards cost anywhere between $500
to $2000. These factors have slowed down market growth to some extent.
SWOT Analysis
Strength: Electric models provide a convenient and eco-friendly mobility
solution. They are portable and easy to use.
Weakness: Limited driving range raises range anxiety. High prices compared to
conventional skateboards.
Opportunity: Growing popularity among youth and working professionals offers
huge market potential.
Threats: Safety concerns due to high speeds can hurt demand. Entry of new
competitors may lead to pricing wars.
Geographical Regions
North America currently dominates the electric skateboard market in terms of
value. The U.S. alone accounts for over 40% share due to high adoption among
young adults and teenagers. Europe is another major regional market led by
countries like the U.K., Germany, and France. Growing popularity as an urban
transportation alternative is driving sales across cities.
Fastest Growing Region
Asia Pacific region is forecast to be the fastest growing regional market
during the forecast period. Countries like China, Japan and Southeast Asian
nations are witnessing a rapid surge in electric skateboard sales owing to
increasing health consciousness and preference for eco-friendly mobility
solutions. Rising middle-class disposable incomes also support the market
growth trajectory in developing APAC nations.
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more insights on Electric
Skateboard Market
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