The global hoverboard market size was estimated at USD 1.62 billion in 2024 and is projected to reach USD 2.35 billion by 2030, growing at a CAGR of 6.6% from 2025 to 2030. Hoverboards are increasingly popular among younger consumers as fun, trendy, and compact mobility devices. Rising urban congestion, environmental awareness, and the desire for emission-free short-distance travel are driving demand.
Technological advancements, including improved battery life, motor power, safety features, self-balancing technology, and smart connectivity, are enhancing the riding experience. Ruggedized models with off-road capabilities are expanding appeal among adventure enthusiasts. The availability of hoverboards through online platforms, coupled with competitive pricing, detailed product information, and influencer marketing, has further accelerated adoption globally.
Key Market Trends & Insights
- Asia Pacific dominated with a 34.99% share in 2024.
- Double-wheel type accounted for 67.13% of global revenue.
- 6.5-inch wheel size held a 62.81% revenue share.
- Offline distribution represented 62.82% of revenue.
- Recreational applications contributed 53.18% of revenue.
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Market Performance
- 2024 Market Size: USD 1.62 Billion
- 2030 Projected Market Size: USD 2.35 Billion
- CAGR (2025–2030): 6.6%
- Asia Pacific: Largest market in 2024
Competitive Landscape
The hoverboard market is competitive, with manufacturers focusing on product innovation, regional production, and consumer-centric features. Companies pursue joint ventures, partnerships, mergers, and acquisitions to expand reach and strengthen their market position while complying with international regulatory standards and raising consumer awareness.
Key Companies
- Ninebot Inc.
- HaloBoard
- Segway Inc.
- TOMOLOO Technology Industrial Co. Ltd.
- SURFUS
- Hangzhou Chic Intelligent Technology Co.
- Shenzhen Rooder Technology Co. Ltd.
- JIALIKE Electronic Company Ltd.
- Airwheel Technology Co. Ltd.
- Razor USA LLC
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Conclusion
The hoverboard market is poised for steady growth, fueled by the demand for convenient, eco-friendly, and recreational mobility solutions. Technological advancements and smart features are enhancing user experience, while offline and online distribution channels ensure broad accessibility. Marketing initiatives, influencer collaborations, and product innovation continue to drive consumer adoption, supporting sustained market expansion worldwide.
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