The electric skateboard market represents a growing recreational and commuter transportation segment. Electric skateboards, also known as e-boards, offer an eco-friendly and cost-effective personal mobility solution for shorter journeys within cities. Consisting of lithium-ion battery packs, onboard controllers and hub or belt-driven electric motors, e-boards allow for toggling speed and acceleration easily via remote control. Their lightweight yet sturdy designs along with capabilities of climbing slopes make them convenient alternatives to bikes, scooters or walking for intra-city travel.
Global electric skateboard market is estimated to be valued at US$ 4.07 Billion in 2024 and is expected to reach US$ 9.10 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
Key Takeaways
Key players operating in the electric skateboard market include Boosted Boards, Marbel Skateboards, Yuneec International, Mellow Boards, and Inboard Technology. These companies offer a variety of e-boards catering to different riding styles, terrains and price points.
Europe and North America currently dominate the Electric Skateboard Market Demand space owing to high consumer awareness regarding personal micro-mobility solutions and supportive infrastructure for alternative transport modes. However, the Asia Pacific region is emerging as a lucrative market backed by rapidly growing urbanization and rising middle-class population in countries like China and India.
Several startups are launching innovative e-board models aimed at specific rider personas like college goers, commute enthusiasts and recreational users. Meanwhile, incumbent automotive giants are eyeing strategic investments and partnerships in the developing EV micromobility landscape to capitalize on future market opportunities.
Market Drivers
- Growing popularity among environmentally-conscious youth and young professionals as a fun, adventure sport and commute alternative to driving or public transport. This promotes a healthy and eco-friendly lifestyle.
- Continuous technological upgrades in power output, battery life, safety features and onboard controlling mechanisms that enhance riding comfort and experience.
- Increasing public spending on development of dedicated bicycle lanes and trails in large cities to encourage use of personal micro-mobility vehicles and decongest traffic.
Market Restraints
- Strict safety regulations and speed limitations imposed on electric skateboards in certain regions to avoid accidents can dampen demand.
- Risk of fractures and injuries during falls need riders to wear protective gear like helmets which act as an adoption barrier.
- Higher initial prices compared to non-powered skateboards restricts the market to urban elite and tech-savvy consumers only.
Segment Analysis
The market can be segmented based on product type into electric mountainboards, electric streetboards and electric commuteboards. Electric streetboards dominate the market as they provide a fun recreational activity similar to skateboarding especially among the younger generation. Going forward, electric commuteboards are expected to grow at a faster rate as people opt for eco-friendly commute options to travel shorter distances within cities.
The market can also be segmented based on battery type into lithium-ion battery and sealed lead acid battery. Lithium-ion battery segment holds a major share as these batteries provide longer run times, high energy density and faster charging compared to sealed lead acid batteries.
Global Analysis
As per Electric Skateboard Market News, North America dominates the electric skateboard market currently followed by Europe and Asia Pacific. North America's leadership can be attributed to active adoption of eco-friendly commuting options.
The Asia Pacific region is expected to grow at the fastest rate during the forecast period due to increasing health awareness, rise in recreational activities and favorable government policies promoting eco-friendly transportation. Countries like China and Japan are expected to provide significant opportunities for electric skateboard companies.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
