An electric skateboard is similar to a traditional skateboard except that it comes with an electric motor. An electric skateboard can be controlled by a hand held controller, brakes, or by pads mounted on the skateboard.
Belt driven skateboards consist of a motor which is placed outside of the wheel next to the wheelbase from where RPM is transferred to the wheel via a belt. On the other hand, the motor is placed inside the wheel in hub design electric skateboards.
The electric skateboard market is expected to grow during the forecast period due to growing trend of personal mobility, rise in disposable income, and ecofriendly mode of transport.
Key Drivers, Restraints, and Opportunities of the Global Electric Skateboard Market
Personal mobility is one of the growing trends and where transportation is an issue, electric skateboards come handy and are fun to ride. Electric skateboards are compact, lightweight, and are easy to carry around. Electric skateboards save money in the light of increasing population and parking being an issue.
Usage of electric skateboards has increased due to the popularity of outdoor sports and recreational activities. Electric skateboards are faster than conventional skateboards, requires less effort, and provides better control, which makes them an attractive option among skaters.
People are concerned about the environment and have started adopting transport options which cause no harm to the environment. Also, people have become health conscience and are participating more in outdoor activities. In this scenario, electric skateboards help in improving stability and coordination.
Many communities or groups conduct competitions in a safe environment with precaution measures in place and thus promote the sport. The maintenance of electric skateboards is easy which makes it an attractive option for people in developing regions.
Many players are investing in R&D to come up with lighter, cheaper, and more advanced motorized skateboards. Technological advancement by global leaders is expected to have a positive impact on the electric skateboard market. However, advancement in technology may also result in a rise in price of the product which may act as a restraint to the market.
Overall, the global electric skateboard market is expected to grow during the forecast period.
North America to Lead the Global Electric Skateboard Market
Geographically, the global electric skateboard market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
North America is expected to lead the global market followed by Europe during the forecast period. Asia Pacific is likely to witness rapid growth in the electric skateboard market due to rise in technology and rising disposable income. Cost effectiveness is anticipated to further encourage individuals to purchase electric skateboards in developing economies.
The market for electric skateboards is fragmented with the presence of many local and global players.
Key Players Operating in the Global Electric Skateboard Market
Leading manufacturers operating in the global electric skateboard market include:
