Hoverboard Market Share

Europe Market Statistics

Europe hoverboard market is predicted to account for revenue share of more than 38.2% by the end of 2036. The region’s substantial growth is led by the demand for eco-friendly solutions boosted by their rising awareness about sustainability. European Environment Agency in 2024 reported that electric vehicles such as electric cars in Europe increased at a growth rate of 23% in 2023 as compared to previous years. There is a high demand for efficient and convenient commuting alternatives in Germany, as the European Cyclist Federation 2022, stated that most Germans would prefer public transport and bicycles to commute over their cars. According to estimates, about 60% of Germany’s greenhouse gas emissions were credited to the transportation sector.

There is a high usage of technologically advanced products in the UK, as a report- Trend Deck 2021 published by the UK government, estimated that the number of IoT devices crossed 150 million compared to 13 million between 2006 and 2024. Additionally, autonomous technologies and electric vehicles accounted for approximately 8% of UK exports in 2023, as stated by International Trade Administrations.

North America Market Analysis

By 2036, North America hoverboard market is estimated to capture over 26% revenue share. It will account for the second position owing to the slated growth in commercial spaces which will increase the adoption of hoverboard usage. U.S. Energy Information Administration in 2020 estimated that the commercial buildings and commercial square footage increased by 6% and 11% respectively compared to the last survey in 2012.

In the United States, there has been an increase in urbanization. Hoverboards are gaining popularity among urban commuters as a simple and convenient means of transportation for short distances, particularly in cities that are getting more crowded. World Bank published a report stating that by 2045 the global urban population will increase by 1.5 times and will surpass 6.0 billion.

There is an increasing disposable income in Canada which surge the market in the coming years. According to IBIS World 2024, the per capita disposable income showed a growth rate of 6.9% in 2020 attributed to the direct payments from the Canadian government to citizens.