[November 17, 2017] |
|
Top 3 Drivers for Global Hoverboard Market | Technavio
Technavio
market research analysts forecast the global
hoverboard market to grow at a CAGR of more than 4% during the
forecast period, according to their latest report.
This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20171117005737/en/
Technavio has published a new report on the global hoverboard market from 2017-2021. (Graphic: Business Wire)
The report has further categorized the global hoverboard market into
different segments based on wheel size (compact-size hoverboard,
mid-size hoverboard, and full-size hoverboard) and geography (the
Americas, APAC, and EMEA).
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.
Technavio analysts highlight the following top three market drivers that
are contributing to the growth of the global hoverboard market:
-
Dominance of Chinese manufacturers in hoverboard market
-
Growing R&D on supercapacitors to replace lithium-ion batteries
-
Sales of hoverboard through online channels
Looking for more information on this market? Request
a free sample report
Technavio's sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.
Dominance of Chinese manufacturers in hoverboard market
The Chinese manufacturers manufacture hoverboards with advaced features
at a lower price, and therefore, they are dominant in the hoverboard
market. They export their hoverboards across the globe, including
countries such as the US, Canada, the UK, Dubai, Brazil, and Australia.
China is a pioneer in the manufacturing of cheap hoverboards and
battery-powered toys. Cheap manufacturing technology is available in
Shenzhen, and most of the cheap hoverboards are manufactured there.
However, the growth of the hoverboard market has been restricted as the
Chinese hoverboard manufacturers are witnessing some serious challenges.
In mid-December 2016, Amazon introduced stringent requirements regarding
products sold on its website that resulted in the delisting of many
Chinese manufacturers. It also led to several small players to exit the
market.
Growing R&D on supercapacitors to replace lithium-ion batteries
The charge and discharge process in lithium-ion batteries is a slow
process. Owing to numerous charge and discharge cycles, even the
chemical compounds inside the battery get degraded with time.
Researchers are trying to find alternative means of charging a battery
because of this shortcoming of lithium-ion batteries. One such method is
the use of supercapacitor. A supercapacitor uses a different storage
mechanism and excels when it comes to power density. In the
supercapacitor, energy is stored electrostatically on the surface of the
material and does not involve chemical reactions.
According to Raj Gaurav Singh, a lead analyst at Technavio for automotive
manufacturing research, "In the future, the supercapacitor will be
developed to store more energy than a lithium-ion battery. It will also
retain the ability to release its energy up to 10 times faster. The
major challenge for a lithium-ion battery is that its price cannot
decrease significantly as the price of lithium is high. Supercapacitors
do not rely on metals and other toxic materials. Therefore, their
disposal is environment-friendly."
Sales of hoverboard through online channels
Several small Chinese manufacturers occupy the hoverboard market, and
they cannot spend more on advertising, overhead expenses, distribution
channel, and marketing. This has encouraged them to opt for online sales
channel as the distribution channel for reaching out to the customers.
More than 80% of the sales of the hoverboard
in 2016 occurred through several online sales channels. Additionally,
the traditional way of sales and advertising is fading as consumers now
have access to social media, mobile technology, and already available
online information about the products offered.
"Online sales channel has explicitly boosted the hoverboard market.
Digitization is the main reason behind the exponential growth of the
online sales channel. Apart from digitization, increase in the use of
social media, growing mobile technology, and increase in Internet
penetration are the factors contributing to the growth of the online
sales channel," says Raj.
Browse Related Reports:
About Technavio
Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio's comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team
at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20171117005737/en/
[ Back To Mobile World Congress's Homepage ]
|