Hoverboards Market : Strategies and Forecast by 2031
The global hoverboards market is experiencing dynamic growth, driven by advancements in personal mobility technologies, urban commuting trends , and rising demand from younger demographics. According to recent market research by The Insight Partners, the hoverboards market was valued at USD 870.45 million in 2023 and is projected to reach USD 1,670.21 million by 2031 , expanding at a CAGR of 8.5% from 2023 to 2031 . Market Drivers The key factors propelling the hoverboards market include: Increased Urbanization : Congested cities and last-mile connectivity challenges are pushing demand for compact, portable transportation solutions. Youth-Centric Product Appeal : Hoverboards are gaining traction as fashionable and fun transportation alternatives among teenagers and young adults. Technological Innovations : Developments in battery performance, safety features, and self-balancing systems enhance consumer confidence and drive a...