Self Balancing scooter/hoverboard market is still in its nascent stage

Ninebot Captured major share in India’s Self Balancing Scooter Market; Hoverboard Segment Leads the Market: 6Wresearch

Posted On: 2016-07-04

Self Balancing scooter market is still in its nascent stage, where the market is primarily dominated by international players; however, the market is registering stiff competition from low cost Chinese players. In India, self balancing scooters are widely available in three types such as hoverboard, electric unicycle and self balancing board with handle bar.

According to 6Wresearch, India self balancing scooter market is forecast to grow at a CAGR of 18% during 2016-22. Amongst all type of self balancing scooters, hoverboard segment has captured key share of the market pie. India self balancing scooter market is highly consolidated with the dominance of international players such as Ninebot, and Airwheel Technologies, which cumulatively accounted for 44.4% of the market share in 2015.

According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, “in overall market, hoverboard segment dominates owing to wide usage of these in recreational segments such as commuting at residential areas, parks and institutions. Additionally, advent of new retail chains, outlets, and recreational zones in the country have led the demand for self balancing scooters,” Samuel further added.

According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, “Personal mobility application accounted for majority of revenue share as a result of growing demand for low cost hoverboard in Tier-I & II cities.”

“Further, emergence of entertainment parks in various cities across India are additionally driving the growth of the market. Cities such as Delhi/NCR, Lucknow, Mumbai, Pune, Bangalore, Chennai and Hyderabad are the key potential markets for self balancing scooters,” Akash concluded.

Some of the key players in India’s self balancing scooter market includes- Ninebot, Airwheel, Macway, Uboard India and Freego India.

“India Self Balancing Scooter Market (2016–2022)” provides in-depth analysis with 24 figures 65+ pages. The report estimates and forecast overall India self balancing scooter market by revenue, by form factor such as hoverboard, electric unicycle and self balancing board with handle bar. The report also gives insights on price trends, market trends, competitive landscape, company profiles, market drivers and restraints.