Hoverboard Market Outlook Driven by Technological Advancements and Consumer Demand
Market Overview According to the research report, the global hoverboard market was valued at USD 900.72 million in 2023 and is expected to reach USD 1,384.19 million by 2032, to grow at a CAGR of 4.90%during the forecast period. The hoverboard market refers to the industry involved in the design, manufacturing, and distribution of self-balancing scooters commonly known as hoverboards. These devices typically consist of two motorized wheels connected by a platform that users stand on, controlled by shifting body weight. Although not true "hover" devices, the name has stuck due to their sleek appearance and smooth motion. Since their introduction in the mid-2010s, hoverboards have evolved significantly. Early models were plagued by safety concerns, particularly related to battery overheating and fire hazards. However, regulatory improvements and enhanced engineering have led to safer, more reliable versions entering the market today. As a result, hoverboards have found ...