While the Covid pandemic affected many industries adversely, the hoverboard market remains buoyant and according to the global research company Technavio, it is expected to grow by more than $440M in the next three years.
According to hoverboard research sources, growth is expected to continue into 2030 when the market is expected to hit £1,313 million.
Generation Z and millenials are driving the growth of the market. They have embraced this eco friendly mode of electric transport, enables them to travel at a low cost in the knowledge that they are not increasing their carbon footprint.
The safety of hoverboards has improved enormously since their inception. In the past, some models have caught fire due to faulty batteries, but now, strict regulations have ensured that hoverboards do not pose a fire risk.
Consumer reports hoverboard, indicate that the mid-sized boards are the most popular, due to their popularity amongst younger riders.
Europe has dominated the hoverboards industry, due to the fact that local companies produce some of the best hoverboards on the market.
Money is now being invested in developing and improving hoverboards with Segway, Inc. and Ninebot, inc. both launching a new hoverboard that can automatically adjust speed. It is hoped that this will enable riders to achieve optimal speed and reduce the risk of injury.
It is expected that companies will continue to introduce new variants of the hoverboard, with cutting edge features, extended battery life and a stream of new models.
Most governments have legalised their use on public pavements as they are increasingly popular in urban areas, but the UK is yet to follow suit.
High end hoverboards can now cover a distance of up to 12 miles on a single charge, they can reach speeds of up to 15 miles an hour can climb slopes with relative ease.
When buying a hoverboard, it is best to choose a known and trusted manufacturer and don’t buy anything that is too cheap as you will be skimping on quality. No single company or person owns the copyright to the hoverboard, so any company can make them, although here in the UK, they must meet strict safety standards.
The word hoverboard was coined by the film Back To The Future in which actor Michael J.Fox travelled to the future and rode a hoverboard. However, at the moment, there isn’t a product out there that can genuinely levitate above the ground.
Now, some big name celebrities can be seen riding hoverboards – people like Justin Bieber, Jamie Foxx and even Mike Tyson videoed themselves riding hoverboards, although Tyson fell off his when he got caught up in a rug.
Today, hoverboards are hugely popular and are likely to be at the top of many Christmas lists. Who knows, Santa might even start using one next. Watch out Rudolph...