The global electric skateboard market size is slated to reach US$ 1.93 Billion in 2022, and is further likely to reach US$ 3.52 Billion by the end of the 2022-2032 forecast period. Throughout the aforementioned assessment period, sales of electric skateboards will continue to flourish, reflecting a value CAGR worth 6.2%. From 2016 to 2021, the market registered a growth rate of 5.1%.
The majority of the skateboards market players have launched electric skateboards with a massive influx of new riders. Based on user tilt sensing technology, any desired motion can be achieved without a remote control. This makes the electric skateboard a smart transport with motion sensing capability.
The popularization of sports and the vastly increased attractiveness of recreational activities in the global market are two major factors propelling the international electric skateboard market. Electric skateboards are faster than conventional skateboards and provide better control, making them a popular alternative for skating sports in places like Australia, the United States, and Europe. Furthermore, the use of electric skateboards has gained them a following among people of all ages all over the globe.
Get a Sample Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-11993
As governments are increasingly focusing on smartening up their cities, they are seeking viable transport solutions that can decongest the traffic as well as create a cleaner environment for the entire community.
At present, there are only handfuls of nations that allow electric skateboard usage in public roads. The legalization of these electric skateboards will immensely diminish the number of vehicles on the road, clean the air, enhance the community’s mental health, and encourage a ‘forward-thinking’ environment.
The legislation will also give rise to dedicated electric vehicle retailers and certified repair agents. Rise in the electric skateboard market has also created space for the electric skateboard accessories market. Several manufacturers have started offering safety gears USB accessories and spare parts.
Rising awareness concerning different skateboarding competitions and contests held at the regional and country levels is motivating kids to engage in the sport. For instance, Skate Philippines Summer Championship, the 31st Annual Skate Malaysia and Skate Japan are a few of the competitions held in 2019
Use promo code ->> FMITODAY to get flat 30% discount
Electric Skateboard Market – Growth Restraints
The conventional skateboards at available at affordable prices in the market as compared to electric skateboards. Moreover, there is an additional high cost associated with the use of advanced technology in electric skateboard motors. This is anticipated to impede the electrical skateboard market.
Lack of electric skateboard laws can negatively impact the growth of the electric skateboard market. The issues that legislative bodies are confronting are the product’s uncertainty and the absence of data concerning these vehicles usage.
COVID-19 Impact Analysis
The COVID-19 outbreak affected not only the skateboard industry but the professional skateboarders too. The outbreak has resulted in the cancelation of several events and championships such as the Tokyo Summer Olympics 2020 wherein skateboarding was included and has provided a boost to all skateboarders to outdo in the field.
Inquire Before Buying Research Report@
https://www.futuremarketinsights.com/ask-question/rep-gb-11993
Rise of online fantasy sport(OFC) platforms has shown a rapid increase in the user base over the period. As per the FIFS-KPMG report, OFS operators’ gross revenues increased around 3X over the last 12 months.
Further, in a post COVID world, with social distancing standards in place, fantasy sports such as Skateboarding will play an increasingly important role in connecting fans to their favorite sports as well as increasing fan engagement.
Electric Skateboard Market – Region-Wise Analysis
North America spearheads the global electric skateboard market trailed by Europe over the assessment period. According to the Public Skatepark Development Guide, around 3.1 million youth in the US is described as being a core skater. Furthermore, the region is the biggest producer of skateboards across geographies.
The Asian market is anticipated to foresee rapid growth in the electric skateboard market owing to increasing awareness of the outdoor activities, also, to the rise in technology.
Electric Skateboard Market – Competitive Analysis
The global electric skateboard market is segmented with the presence of several global and local players. The majority of market players are introducing innovation in their products and acquisitions as their key strategy is to boost their market share. For instance,
- Rave skateboards have introduced their summer collection 2019 comprising funky graphic designed skateboards.
- LAUNCH SNOWBOARDS have launched their new skateboard line which consists of wheel kits, street decks, drop through longboards, truck, and pintail longboards.
- Loaded Boards entered into a partnership with Unlimited Engineering to launch their newest line of electric skateboards along with DIY electric kits.
- Lime, a scooter sharing company is taking over Boosted Inc. Around five of Boosted’s core patents were allotted to Lime in addition to intellectual property.
Read Related Reports@
https://bpa-mastery.mn.co/posts/30954138?utm_source=manual
https://sokomtaani.mn.co/posts/30954140?utm_source=manual
https://together.mn.co/posts/30954141?utm_source=manual
https://nethxt.mn.co/posts/30954143?utm_source=manual
https://bitcoinov.mn.co/posts/30954146?utm_source=manual
https://vote-for-miles.mn.co/posts/30954150?utm_source=manual
https://sokomtaani.mn.co/posts/30954164?utm_source=manua
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Latest Market reports: https://www.futuremarketinsights.com/reports