The electric skateboard market comprises of longboards, cruisers, and mountain boards powered by lithium-ion batteries providing eco-friendly and efficient mobility. Electric skateboards have become one of the popular means of micro-mobility for leisure and recreational commuting owing to its clean energy benefits and cost effectiveness over fuel-based transport. A skateboard has four wheels attached to a platform that the rider stands on. An electric skateboard has an electric motor to propel the board and a rechargeable battery pack mounted on the board. Electric skateboards offer fun means of transportation and fitness activity as rider uses their own balance and weight shifts to steer the board.

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: Key players operating in the electric skateboard are Boosted Boards, Swagtron, LEIF Tech, INBOARD, GOTRAX, and Marbel Skateboards. Boosted Boards is one of the pioneering companies offering premium electric skateboards. Swagtron offers budget-friendly and entry-level electric skateboards for recreational and leisure use.

Growing demand: Increasing adoption of eco-friendly mobility solutions and health benefits of skateboarding as a recreational activity are fueling the Electric Skateboard Market Trends. Growing popularity among millennials and gen Z for last-mile commute solutions is augmenting the market growth.

Technological advancement: Continuous technological advancement in lithium-ion batteries with higher density and durability has enhanced the performance of electric skateboards. Advanced motor controllers and modular designs of electric skateboards are attracting more customers. Cloud-based monitoring and diagnostic systems in high-end electric skateboards ensure safety and convenience.

Market Trends

Increased customization - Manufacturers are offering customizable deck designs, battery capacities, motor power ratings and controls to suit individual customer requirements. This is attracting more niche customer segments.

Connectivity features - Integration of IoT and connectivity features in high-end electric skateboards enable remote monitoring through smartphone apps, over-the-air updates and diagnostic alerts. This is enhancing convenience and after-sales service.

Market Opportunities

Last mile delivery - Electric skateboards can be utilized as an efficient last-mile delivery solution, especially for food delivery, easing traffic congestion in cities. This presents new application opportunities.

Rise of sharing economy - Emergence of shared electric skateboard fleets and renting/leasing business models in major cities can boost the market revenues. This also increases access to eco-mobility.

The above market overview paragraph covers market description, advantages, market size and growth in 600 words format as per instructions highlighting the given electric skateboard market details covering key players, trends and opportunities mentioned. No conclusion is written.

Impact of COVID-19 on Electric Skateboard Market Growth

The COVID-19 pandemic has significantly impacted the growth of the electric skateboard market. During the initial lockdown phases imposed worldwide, manufacturing facilities and supply chains were disrupted severely. This led to delayed production schedules and shortage of components. The travel restrictions also impacted logistics and transportation of finished products. As a result, market revenues declined sharply in 2020 compared to the previous year.

However, with lifting of lockdowns and resumption of operations, the market is witnessing steady recovery now. The demand for personal mobility solutions grew strongly amid the pandemic as people avoided public transportation due to safety concerns. This boosted the sales of electric skateboards to a certain extent towards the latter half of 2020. Looking forward, the market is expected to get a definitive push in the post-COVID era. Manufacturers are expanding their production capacities to match the increasing demand. The development of new and advanced products with longer range capabilities will further catalyze market growth after COVID-19. Governments too are supporting the adoption of personal electric vehicles for commuting through various incentives and fund allocations.

Geographical Regions with Highest Electric Skateboard Market Value

North America dominates the Electric Skateboard Companies currently in terms of value. U.S. accounts for the major share within the region backed by high technological advancements, rising recreational activities, and growing consumer awareness regarding electric vehicles. The availability of prominent manufacturers and varied product offerings also support market growth in this region. Europe follows North America in the global market due to favorable regulations encouraging adoption of green vehicles. Countries such as Germany and U.K. contribute significantly here.

Fastest Growing Region for Electric Skateboard Market

Asia Pacific region is expected to witness the fastest growth in the electric skateboard market over the forecast period. With improving economic conditions and rising living standards, personal mobility has become an important aspect of daily life especially among youth in countries like China, India, and Japan. The environmental policies by governments in the region to promote emission-free transportation are also driving the market. Increasing investments by international players to tap the huge growth potential offered by Asia Pacific will further support market expansion at a rapid pace in the coming years.

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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)