The electric skateboard market has emerged as a novel personal mobility solution driven by growing interest in low-carbon and eco-friendly commuting options. Electric skateboards utilize rechargeable lithium-ion batteries to power an electric motor and controller integrated into the board, allowing for speeds of up to 24 kmph with no pedaling required. Compared to conventional skateboards, electric variants offer enhanced convenience through remote-controlled acceleration and braking along with regenerative braking during downhill rides. Increased affordability of lithium-ion batteries along with evolving regulations have further popularized electric skateboards amongst daily commuters and recreational enthusiasts.

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 are Boosted Boards, Marbel Skate, Evolve Skateboards, SUPERBOARD, Rio Roller, Yuneec International, Mellow Board and others. 

Growing concerns regarding environmental pollution and traffic congestion have boosted the demand for compact personal mobility vehicles in recent years. Electric skateboards are increasingly being embraced as a low-cost, low-footprint solution to last-mile connectivity issues especially in dense urban centers.

Leading Electric Skateboard Market Share are expanding their reach through strategic partnerships and distribution agreements across North America, Europe and Asia Pacific. Increased R&D investments are also enabling performance improvements along with the development of customized products catering to diverse terrains and user skill levels.

Market Key Trends

One of the key trends gaining traction in the electric skateboard market is the integration of advanced safety features. Cutting-edge detection technologies allow electric skateboards to automatically brake based on proximity sensors detecting obstacles in the riding path. Additional functionalities like geofencing, remote immobilization and fall detection are enhancing safety credentials and encouraging wider adoption.

Simultaneously, manufacturers are undertaking collaborations with universities to develop lightweight materials and innovating vehicle designs optimizing torque, weight distribution and stability at high speeds. Such innovations are expected to further drive the popularity of electric skateboards as mainstream urban transportation solutions over the coming years.

Porter's Analysis 

Threat of new entrants: The electric skateboard market requires high initial investments for manufacturing plants and distribution networks restricting new companies from entering the market easily.

Bargaining power of buyers: Individual buyers have low bargaining power due to availability of variety of electric skateboard options but large retailers enjoy higher bargaining power demanding discounts and better services.

Bargaining power of suppliers: The supplies of lithium-ion batteries and electronic components used in electric skateboards enjoy higher bargaining power being an important part of the product.

Threat of new substitutes: Other human transport vehicles like bicycles, scooters pose minimal threat but long-term introduction of self-balancing personal transport vehicles can impact the electric skateboard market.

Competitive rivalry: Electric Skateboard Market Size and Trends  has few large companies like Boosted, evolve and Marbel controlling significant share but regional players intensifying competition on pricing and customization.

Geographical Regions

North America currently holds around 45% value share of the global electric skateboard market led by United States due to high disposable incomes and living standards supporting adoption of personal mobility devices for recreation and commute.

The Asia Pacific electric skateboard market is witnessing fastest growth at a CAGR of over 15% during the forecast period led by countries like China and Japan. Increasing middle class population, growing health consciousness and build up of infrastructure is driving the demand.

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)