The global electric skateboard market is slated to reach USD 2,061.2 million in 2023 and is further likely to reach USD 3,691.4 million by the end of the forecast period. Throughout the aforementioned assessment period, sales of electric skateboards are projected to continue flourishing, reflecting a value CAGR of 6%. From 2018 to 2022, the market registered a growth rate of 5.4% CAGR.
Skating is now regarded as an activity in many countries rather than a fun outdoor sport. Parents encourage their children to engage in sports since this provides the benefit of no-cost fees or coaching. The skateboarding industry has seen several new skateboard premieres over the years, with the electric skateboard gaining momentum.
| Data Points | Key Statistics |
|---|---|
| Electric Skateboard Market Size (2023) | USD 2,061.2 million |
| Electric Skateboard Market Revenue Forecast (2033) | USD 3,691.4 million |
| Electric Skateboard Industry Growth Rate (2023 to 2033) | 6% CAGR |
| North America Market Share | 32.7% |
With a massive influx of new riders, the majority of skateboard market players have launched electric skateboards. Any desired motion can be achieved without the use of a remote control thanks to user tilt sensing technology. As a result, the electric skateboard is a smart mode of transportation with motion-sensing capabilities.
A few factors anticipated to boost global electric skateboard market revenue and expand at a substantial CAGR during the forecast period encompass reduced compact size, ease of use, and efficiency of conventional skateboards. The rising popularity of skateboarding is expected to boost the global skateboard footwear & apparel industry
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The popularization of sports and the vastly increased attractiveness of recreational activities in the global market are two key factors propelling the international electric skateboard industry. Electric skateboards are faster than conventional skateboards and provide better control, making them a popular alternative for skating sports in places like Australia, the United States, and Europe. Furthermore, the use of electric skateboards has gained them a following among people of all ages all over the globe.
Electric skateboards are becoming increasingly prevalent as private transportation because of their small size and ease of use. Furthermore, the high speed of electric skateboards saves time, which is a key factor contributing to the worldwide demand for electric skateboards.
Electric skateboards with connected features like infrared connections, Wi-Fi, and Bluetooth are gaining popularity in the global market. Technological advancements are arising in the development of innovative and AI-powered electric skateboards. It offers riders greater speed control as well as precise handling, allowing them to ride more efficiently in less time. As governments focus more on smartening their cities, they are looking for viable transportation solutions that can decrease traffic congestion while creating a cleaner environment for the entire community.
When compared to electric skateboards, traditional skateboards are more inexpensive on the market. Furthermore, the use of sophisticated tech in electric skateboard motors emerges at an additional cost. This is presumed to stymie the electric skateboard industry.
The absence of electric skateboard laws may have a detrimental effect on the market's growth. Legislators are concerned about the product's uncertainty and the lack of data on how these vehicles are used.
| Region | Market Share % (2022) |
|---|---|
| North America | 32.5% |
Throughout the assessment, North America led the global electric skateboard market, followed by Europe. According to the Public Skatepark Development Guide, nearly 3.1 million youth in the United States are classified as core skaters. Furthermore, the region is the world's leading manufacturer of skateboards. North America has a 32.5% market share of the global electric skateboard industry.
The North American sports market was worth around USD 72 billion in 2018. By 2023, this figure is expected to rise to USD 84 billion. As a result, the popularity of sports in North America is expected to witness high growth.
| Countries | Forecast CAGR % (2023 to 2033) |
|---|---|
| China | 6.8% |
| India | 7.6% |
Because of advances in technology and an increase in disposable income, Asia Pacific is expected to witness rapid growth in the electric skateboard industry. The low cost of electric skateboards is intended to encourage more consumers to purchase them in emerging economies. Furthermore, the Asian industry is forecast to see rapid growth in the electric skateboard industry rise in awareness of outdoor activities.
| Countries | Forecast CAGR % |
|---|---|
| Europe’s Market Share % (2022) | 27.6% |
| Germany’s Market Share % (2022) | 7.3% |
| The United Kingdom’s Forecast CAGR % (2023 to 2033) | 5.7% |
Shipments of sporting goods, sporting apparel, and sports shoes increased at a CAGR of 5.8% in Europe from 2018 to 2022, with the market valued at USD 172 billion at the end of 2022. As a result, an increase in outdoor sports in Europe is expected to drive the electric skateboard market. Europe is accounting for a market share of 27.6% of the global electric skateboard industry.
The legislation is estimated to also result in the establishment of specialized electric vehicle retailers and certified repair agents. The growth of the electric skateboard industry has also spawned a demand for electric skateboard accessories. Several manufacturers have begun to offer safety equipment, USB accessories, and spare parts in Europe.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Boosted Boards was established in 2012, with headquarters in Mountain View, California. According to the company, its mission is to provide portable, lightweight electric skateboards that are fast, simple, and enjoyable modes of transportation.
Evolve Skateboards was established in 2009, with headquarters in Varsity Lakes, Queensland, Australia. Evolve has operations in around 40 countries, including the United States. Evolve Skateboards US creates the best electric skateboards - strong, intelligent, and stylish. Evolve Skateboards also provides customers with customized electric skateboards.
Swagtron was established in 2015, with its headquarters in South Bend, Indiana. According to the company, it is a market leader and innovator in electric skateboards. The recent Swagtron Swagskate electric skateboard has an efficient 100W single-hub motor with a range of up to 10 kilometers. It is small and light.
Some leading electric skateboard manufacturers include:
The global electric skateboard industry is segmented into several global and local players. The majority of market players are introducing innovation in their products and acquisitions as their key strategy is to boost their market share. For instance,
Rave Skateboards have introduced their Summer Collection 2019, comprising funky graphic-designed skateboards.
LAUNCH SNOWBOARDS have launched their new skateboard line, which consists of wheel kits, street decks, drop-through longboards, truck, and pintail longboards.
Loaded Boards entered into a partnership with Unlimited Engineering to launch their newest line of electric skateboards along with DIY electric kits.
Lime, a scooter-sharing company, is taking over Boosted Inc. Around five of Boosted’s core patents were allotted to Lime in addition to intellectual property.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Market Value in 2023 | USD 2,061.2 million |
| Market Value in 2033 | USD 3,691.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Wheels, Deck Size, Speed, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Skatebolt; Inboard Technology; Blitzart Inc.; ACTON Inc.; Teamgee Skateboard; RideRiptide Electric Skateboard; Atom Longboards; Boosted Inc.; Swagtron and Evolve Skateboards; Yuneec |
| Customization & Pricing | Available upon Request |
The growth potential of the electric skateboard market is 6% through 2033.
The additional cost of the battery is likely to limit market growth.
The United Kingdom is likely to capture a CAGR of 5.7% by 2033.
India is estimated as the fastest-growing country capturing a CAGR of 7.6%.
India, the United Kingdom, and China may witness significant growth in the market.
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Electric Skateboard Market
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