Electric Skateboard Market Size (2024 – 2030)

The global electric skateboard market was valued at USD 334.24 million and is projected to reach a market size of USD 578.05 million by the end of 2030. Over the forecast period of 2024–2030, the market is projected to grow at a CAGR of 8.14%. 

A personal transporter built on the skateboard platform is an electric skateboard. Usually, the rider uses a wireless hand-held throttle remote to adjust the speed, or they can move their body weight from the front of the board to the back to brake. In the past, the market was relatively small due to limited awareness and adoption. Presently, with technological advancements, the market has seen considerable growth. In the future, with a focus on diverse offerings, the market is anticipated to witness a notable expansion.

Key Market Insights:

The expansion is explained by shifting customer attitudes towards environmentally friendly modes of transportation and technological developments that have fueled the creation of more effective electric skateboards. But issues like battery life, inadequate infrastructure, and safety concerns still exist. Innovation in materials, modular parts, and safety features presents opportunities; Asia-Pacific is the fastest-growing area, while North America is the largest market. The industry is progressively rebounding after the pandemic due to businesses launching skateboards and tactics to stay competitive. Prominent entities in the sector comprise Boosted Boards, Evolve Skateboards, Meepo Boards, and Inboard Technology. Current advancements indicate a shift towards swifter and more sophisticated electric skateboard models that accommodate a wide range of customer requirements.

Electric Skateboard Market Drivers:

Changing consumer preferences towards sustainable transportation has been boosting the market.

Over the years, there has been a significant awareness of the protection of our environment. Statistics by various companies reveal the pollution effects and global warming that are caused by using vehicles. Consumers are looking for options that can reduce this figure. Eco-friendly alternatives are being prioritized as a result. Electric skateboards release zero emissions. Additionally, it doesn't contribute to a large carbon footprint as they use rechargeable batteries. Moreover, daily charging is not necessary, which saves electricity. Compared to other vehicles, electric skateboards are lighter and have an aerodynamic design. The majority of the energy from the battery is converted into motion by the efficient motor. Furthermore, less trash is produced with electric skateboards. Apart from this, they are not dependent on fossil fuels. They are becoming more popular as a mode of transportation for everyday commuters.

Technological advancements have been enabling the development.

The creation of high-performance battery technology has been one of the biggest developments in the field of electric skateboard technology. Electric skateboards frequently employ lithium-ion batteries, which offer a greater speed range. Additionally, they are lightweight and small in size. These batteries enable a more streamlined skateboard design. Secondly, motor technology, which enables higher speeds and more torque, has gained prominence. Electric skateboards employ brushless motors because they are more dependable and efficient, performing better than brushed motors. These motors produce less heat and noise, which improves the comfort and smoothness of the ride. Apart from this, weight-based sensors in electric skateboards have been improving technologically, enabling lighter, more affordable, and more sophisticated versions. Furthermore, with wireless connectivity features like Bluetooth and Wi-Fi, riders may link their smartphones or other devices to their electric skateboard, as shown in the newest models. This allows riders to use specialized applications to track their riding performance, modify settings, search for locations, and keep an eye on battery life.

Electric Skateboard Market Restraints and Challenges:

Safety concerns, limited infrastructure & access, and battery life are the main issues that the market is currently facing.

Advancements in electric skateboards have made them faster. This poses the risk of accidents, collisions, and falls. It is necessary to prioritize essential features to avoid these circumstances. Secondly, all areas might not have the essential resources. Roads can be broken, filled with potholes, and poorly maintained. Besides, electric vehicles are relatively new concepts. As such, charging stations might not be available in every city. Additionally, these vehicles may not be available in every province due to a lack of knowledge. Moreover, the battery charge may drain during long rides. Improving battery technology by reducing the recharge time is vital for smooth functioning.

Electric Skateboard Market Opportunities:

Material innovation is providing many opportunities for the market. Electric skateboards are constructed using materials like carbon fiber and bamboo, which offer improved shock absorption, stability, and longevity. Secondly, modular components are a popular choice in electric skateboard design since they make updating and customization of the board simple. This implies that riders may quickly change out parts, such as trucks, decks, and wheels, to get the exact performance and aesthetic they want. Thirdly, with the development of electric skateboard technology, safety is a critical factor, and safety features are constantly being improved by manufacturers. Modern safety features include LED lighting, which increases visibility and lowers the chance of accidents when riding in low light, and sophisticated braking systems, which can lower the danger of accidents and injuries. Apart from this, consumer education is another important strategy. By highlighting the benefits of the skateboard, a broader consumer base can be achieved. Marketing initiatives are being made accordingly.

ELECTRIC SKATEBOARD MARKET REPORT COVERAGE:

Electric Skateboard Market Segmentation: By Type

• Street Board

• Cruiser Board

• Long Board

• Others

The longboard is the most dominanting type. This is because longboards provide stability, comfortable rides, and adaptability, which makes them ideal for a range of uses, including long-distance trips, leisurely rides, and commuting. Longboards' extended deck length offers a more comfortable riding surface, making them suitable for a wide spectrum of customers looking for a pleasurable and useful electric skateboarding experience. Street boards are the fastest-growing segment. They are popular among skilled riders, enthusiasts, and athletes who like freestyle riding, tricks, and technical maneuvers because of their design, which prioritizes performance, agility, and maneuverability. Street boards' explosive rise in the electric skateboard industry is partly due to the growing appeal of electric skating as a leisure activity as well as technological and design developments that meet street riders' needs.

Electric Skateboard Market Segmentation: By Speed

• Less than 10 m/h

• 10-20 Mph

• More than 20 m/h

The largest and fastest-growing segment is 10–20 Mph. Electric skateboards are useful for commuting as they have a peak speed. They are inexpensive, eco-friendly, and portable as well. This range is faster than bicycles or walking and also allows the person to quickly slow down or stop. Besides, it is an ideal range for getting around in urban areas. A lot of kids and adults tend to go for this speed range owing to all these benefits.

Electric Skateboard Market Segmentation: By End-Users

• Children

• Youth

• Adults

Adults have the largest market share in 2023. Few of them use this mode of transportation for their commute. A majority of them ride them for fun and as a hobby. This helps in uplifting their mood by releasing endorphins that make the body happy. Besides, a few studies have indicated that they help reduce stress and anxiety. The disposable income among adults facilitates easy buying, which further contributes to the success. However, the youth category is the fastest-growing. This is driven by the increasing trends on social media. A lot of people are influenced by this and tend to experience adventures. Many contests and competitions are conducted for the youth that help increase sales. Outdoor activities have gained prominence. There are many parks and grounds made especially for skating.

Electric Skateboard Market Segmentation: By Application

• Professional Use

• Domestic Use

• Recreational Use

Domestic use has the largest application in 2023. This mode offers a convenient way for customers. Many of them use these skateboards for running errands and commuting short distances. This is an eco-friendly way that reduces the need for petrol and diesel, helping to save money. However, recreational use is the fastest-growing segment. This involves using the skateboard for fun and pleasure. This is a popular outdoor sport. This gives an adrenaline rush and a thrilling experience. Many parks are designed for these boards that have adventures and unique routes. The growing demand for exploring is driving the category.

Electric Skateboard Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

North America has the most dominant market share in 2023. The United States and Canada are at the forefront. Skateboarding is quite popular in the area, and electric skateboards are among the many personal mobility technologies that consumers are adopting and becoming aware of. Furthermore, Boosted Boards Evolve Skateboards, Meepo Board USA, and Inboard Technology are just a few of the well-known electric skateboard manufacturers based in North America, which contributes to the market domination. Asia-Pacific is the fastest-growing market. Urbanization and a rising focus on eco-friendly transportation options have led to a rise in interest in electric personal mobility devices, including electric skateboards, in countries like China, South Korea, and Japan. People can live a better life and afford products due to economic progress. Various skate parks are being developed by governmental agencies to promote the sport.

COVID-19 Impact Analysis on the Global Electric Skateboard Market:

The viral epidemic impacted the market in many ways. Lockdowns, movement limitations, and social isolation were some of the new standards. Transportation, logistics, and supply chain management were all impacted by this. As a result, import-export operations deteriorated. Every company, including industrial facilities, had to close to contain the infection. Production and other operations were halted as a result. To stop the virus from spreading, remote work was given priority. All skateboard events and competitions were halted. People were unable to indulge in adventurous activities. Layoffs were frequent due to the unpredictability of the economy. Many people experienced job loss. The majority of the money was applied to projects about healthcare. Launches and partnerships were delayed as a result. Post-pandemic, the market has started to recover. Relaxation of rules and regulations has allowed for normal functioning. Olympic games, skate parks, and other events are being resumed.

Latest Trends/ Developments:

Electric skateboards with off-road and all-terrain features are gaining prominence, appealing to riders looking for exciting outdoor adventures. To handle challenging terrain and off-road tracks, manufacturers are creating ruggedized electric skateboards with bigger wheels, better suspension, and increased durability.

Key Players:

1. Boosted Boards

2. Evolve Skateboards

3. Meepo Board

4. Ownboard

5. WowGo Board

6. Backfire Skateboards

7. Exway Board

8. Teamgee

9. Acton Blink

10. Inboard Technology

• In January 2024, a leading producer of electric mobility vehicles and other gadgets, Cyrusher recently showcased its wide array of cutting-edge goods at the Consumer Electronics Show (CES) 2024, including electric snowboards, electric skateboards, electric surfboards, and electric bicycles. Cyrusher's innovative and ground-breaking items were unveiled at the exhibition, receiving acclaim from other exhibitors and broad attention. The introduction of Cyrusher's electric mobility solutions demonstrated the company's dedication to a sustainable future.

• In October 2023, electric skateboard manufacturer BASE CAMP revealed the GHOST, a professional-grade small electric skateboard. The GHOST is the world's fastest mass-produced small electric skateboard, with a peak speed of 34 mph. Two 3,000 W Hobbywing 5255 175 KV motors, a belt drive, and a quality T700 3K Carbon Fibre deck are its features. The SOUL remote has embedded customizable settings, allowing one to alter the characteristics the individual wants without requiring specialized equipment.

• In September 2022, the Meepo Voyager X was launched by Meepo. Meepo is one of the top manufacturers of dependable eBoards. It is the best electric skateboard for those who wish to ride one for their everyday commute to work or who enjoy going on weekend excursions since it boasts the greatest torque and the longest range among its rivals. Samsung 40T cells are used in the Voyager X, which is managed by a LYFOC ESC and smart remote to guarantee performance without sacrificing security.