Electric skateboards, a modern twist on traditional skateboards, have been gaining substantial popularity in recent years. These innovative skateboards are equipped with electric motors, allowing for convenient and eco-friendly personal transportation. In this article, we will delve into the electric skateboard market, exploring its key drivers, restraints, and opportunities, as well as its global outlook.
Key Drivers of the Electric Skateboard Market:
- Personal Mobility: In an era where personal mobility is a growing trend, electric skateboards offer a convenient and fun mode of transportation. Compact, lightweight, and easy to carry, these skateboards have become a preferred choice for urban commuters.
- Cost Savings: With increasing urban populations and parking challenges, electric skateboards present a cost-effective solution. They allow users to navigate congested city streets without the hassle and expense of parking.
- Outdoor Activities: The rising popularity of outdoor sports and recreational activities has contributed to the surge in electric skateboard usage. These skateboards are faster and require less effort, providing better control, making them appealing to enthusiasts.
- Eco-Friendly Transport: As environmental concerns grow, people are seeking transportation options that have a minimal impact on the environment. Electric skateboards offer a greener alternative, aligning with the goals of eco-conscious consumers.
- Health and Fitness: With a growing focus on health and well-being, many individuals are engaging in outdoor activities. Electric skateboards promote stability and coordination while encouraging outdoor exercise.
- Community Engagement: Communities and groups are organizing electric skateboard competitions, promoting the sport in a safe environment. The ease of maintenance makes electric skateboards accessible to people in developing regions.
- Technological Advancements: Many manufacturers are investing in research and development to create lighter, cheaper, and more advanced motorized skateboards. Technological advancements are expected to drive market growth, although they may impact pricing.
Global Market Overview:
The global electric skateboard market is poised for growth during the forecast period. North America is expected to lead, followed by Europe, while Asia Pacific is projected to witness rapid market expansion due to technological advancements and increased disposable income.
Market Segmentation:
- Types: Electric skateboards can be classified into two main categories – belt-driven and hub motor design.
- Wheels: The market also considers the type of wheels used, with generic and clone wheels being options.
- Deck Size: Electric skateboards come in various deck sizes, including mini boards, mid boards, and full boards.
- Speed: Speed is a critical factor, and electric skateboards are categorized based on their maximum speed, which can be less than 10 mph, 10-20 mph, or more than 20 mph.
- Distribution Channels: The market includes both online and offline distribution channels, offering consumers various ways to purchase electric skateboards.
Regional Insights:
- North America: Expected to lead the market, with the United States and Canada as key growth areas.
- Europe: Europe is the second-largest market, with countries such as Germany, the United Kingdom, and France driving growth.
- Asia Pacific: Anticipated to witness rapid market expansion due to technological advancements and rising disposable income.
- Latin America: Countries like Brazil and Mexico are contributing to the growth of the electric skateboard market in this region.
- Middle East & Africa: This region also presents opportunities, with GCC countries and South Africa showing potential for market development.
Key Players:
The electric skateboard market features both local and global players, each contributing to its growth. Some prominent manufacturers include:
- Inboard Technology
- Skatebolt
- ACTON Inc.
- Blitzart Inc.
- RideRiptide Electric Skateboard
- Teamgee Skateboard
- Boosted, Inc.
- Atom Longboards
- Evolve Skateboards Australia
- Swagtron