Global Market and Growth Rate

• According to Grand View Research, the global electric transporters' market, including electric skateboards, was estimated at $35.1 billion in 2017, and this market is expected to grow at a CAGR of about 8.4% between 2019 and 2025. Grand View Research indicates that the growth of this market can be attributed to several factors, including the rising cost of fuel, the increased need for eco-friendly energy sources, and the high cost of maintaining conventional vehicles.
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•  PR Newswire highlights that the global skateboard market, including electric skateboards, will be valued at about $2.4 billion by 2025, and the CAGR of the global skateboard market, including electric skateboards, during the 2019-2025 period was estimated at 3.1%. According to PR Newswire, the introduction of electric skateboards was one of the factors driving demand in the skateboard industry globally.
•  EIN Presswire reports that the global electric skateboard market will be valued at about $2.4 billion by 2025 and the CAGR for this industry for the 2019-2023 period was projected to be about 3.1%. The top nine countries with the highest population of electric skaters globally include Norway, the USA, Singapore, Sweden, and Australia.

The US Market

• According to Persistence Market Research, the demand for electric skateboards in the US and globally was increasing due to the rising interest in skating as a sport. Skaters in the US, Australia, and Europe prefer electric skateboards because they are faster than conventional skateboards and skaters indicate that they have better control of electric skateboards.
• The Elite Skater provided a list of the top nine countries with the highest population of electric skaters globally, including Norway, the USA, Singapore, Sweden, and Australia.
•   Eskate indicated that many states in the US have not legalized electric skateboards and provided some highlights on the regulations relating to electric skateboards in the US here. Grands View Research, however, indicated that the electric skateboard share in the US skateboard market was growing at a fast rate and Grands View Research attributes this growth to the convenience associated with electric skateboards.
•  Statistics indicated that many parents in the US encouraged their children to use skateboards because of the various benefits skating offers, including weight management, zero coaching fees, and reduced cost of transport. We assumed that these parents encouraged their children to use all types of skateboards, including electric skateboards.
• Statistics provided by Grands View Research show that there were about 6.4 million skaters in the US in 2016 and that the US had the highest number of skaters in the world. We assumed this figure includes skaters who use electric skateboards.
• According to Skateboardershq, the Street, Cruiser, and Longboard skateboards market in the US was valued at about $269 million, $112 million, and about $105 million in 2015 respectively. Skateboardershq indicated that the market size for these three types of skateboards in the US was projected to grow to about $324 million, $142 million, and about $134 million in 2025 respectively. We assumed that these trends reflect the market size and growth pattern of the electric skateboard industry in the US.
•  Skateboardershq indicated that Laredo, Sacramento, Chula Vista, Henderson, Reno, Longbeach, and Las Vegas were the towns with the highest population of skateboards in the US. We assumed that this trend is a reflection of the electric skateboard market in the US.
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• According to Zoominfo, the 2020 revenues for some top US skateboard companies, including electric skateboards were: about $65 million for Boosted Boards, $21 million for Swagtron, and about $9 million for Evolve Skateboards.

Top Companies

•  FOX 40 provided a list of the top companies in the electric skateboard market globally and this list can be found here. Some companies in this list include  Swagtron, Evolve Skateboards, Boosted Boards, and Yuneec .
•  Swagtron was founded in 2015 and its head office is in South Bend, Indiana. The company reported that it is a market leader and innovator in the electric vehicles industry and its offerings include electric skateboards, e-bikes, and scooters. Detailed information on Swagtron can be found here.
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• Evolve Skateboards was founded in 2009 and its head office is in Varsity Lakes, Queensland, Australia. Evolve has operations in about 40 countries, including the US. Details on Evolve Skateboards can be found here. 
•  Boosted Boards was founded in 2012 and its head office is in Mountain View, California. The company states that its mission is to offer portable lightweight electric vehicles that are fast, simple, and fun transportation. Details on Boosted Boards can be found here.
•  Yuneec was founded in 1999 and its head office is in Kaltenkirchen, Germany. The company's offerings include electric skateboards, electric aviation, electric propulsion, UAV's, drones, gimbals, and action cameras. More information on Yuneec can be found here.
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