Today we're going to talk about a topic that's near and dear to my heart. I'm really passionate about and we got a nice picture of the globe up here and I always like to talk about changing the world, and I believe people and companies are capable of much more than they think.
Motorized skateboards are short-distance travel tools based on traditional skateboards and equipped with electric kits. They are generally divided into two-wheel drive and single-wheel drive. Common transmission methods are hub motors and belt drives, and the main power source is lithium battery packs. In the market of short-distance travel vehicles in some countries, electric motorized skateboards and bicycles are the two mainstream means of transportation, which can better meet the public's short-distance travel and public transportation transfers, and effectively solve the "Last Mile" of urban traffic travel need.
Compared with bicycles, skateboards occupy a small area, are electric and labor-saving, require less riding skills than traditional skateboards, and have a wider range of application scenarios. In addition to meeting the daily short-distance travel needs of most people, the Veymax Skateboard can also be stored in the trunk, and it can be used with a car or subway to extend the last mile of travel, becoming one of the travel options for white-collar office workers.
The future development prospect of electric skateboard industry
1. The demand for short-distance travel increases, and electric motorized longboards have obvious advantages
According to the U.S. Global Household Travel Survey, short-distance travel of 0-5 miles accounts for 60% of U.S. travel demand. Short-distance travel can avoid congestion, and in the case of poor road traffic, it can increase the speed and efficiency of travel. Whether it is buying or leasing, the price is lower than that of traditional car travel. And it will not emit exhaust gas during driving, and has less negative impact on the environment. Both policy and publicity have been strongly advocated.
E-skateboards can provide a solution to the pain points that traditional means of transportation face in modern society. Public transportation such as taxis and subways often requires waiting for a period of time before taking them. The price of using taxis/self-driving parking is usually relatively expensive, and bus and subway stations are usually far away from the destination. The high-speed and portable attributes of motorized longboards can better match the short-distance transportation needs of residents in the "Last Mile".
2. The sharing economy drives the electric longboard market
Since 2010, shared transportation has gradually become popular, driving a new round of growth in the industry. According to a survey by the National Association of Urban Transportation in the United States, from 2017 to 2019, the growth rate of the use of shared micro-transportation in the United States increased by 289%, mainly contributed by the expansion of shared skateboards. In 2018, once the shared skateboard was launched, it attracted about 39 million people to use it. In 2019, it doubled year-on-year to 86 million people.
A few days ago, according to relevant statistics, the global sales of shared service motorized e-skateboards in 2021 will be 2.297 million units, and it is expected to increase to 7.547 million units in 2022-2025, with a CAGR of 32.27%. With the prevalence of shared electric skate boards, the demand for e-longboards purchased by individuals in Europe and the United States is also expected to increase, injecting impetus into the future growth of the industry.
3. Loose regulatory policies help release market vitality
Until 2023, many countries have introduced relevant regulations, such as motorized skate boards, balance cars, electric unicycles, etc., allowing motorized skateboards to drive within specified areas.
We really need to focus on the future and I believe that if we play our cards right, the future will be even better than it is today. If you take a look at what's happening, there are 3 mega trends: more and more people are moving to cities, it's creating more and more congestion. Roads are clogged, the majority of car trips are less than five miles. If you take a look at what's going on with health, there's an obesity crisis in the U.S, in the UK, Australia. We're exporting it to the rest of the world governments are trying to figure out how do you deal with providing health care. No one has quite figured out that part of the solution is to have fit. People who don't require as much medicine, as much attention than they're currently getting the bicycle is a simple solution to get people moving, to get them active, to get them fit.
Then there's the third mega trend, which is the environment. It's way bigger than anyone thinks. Today it'll be way bigger 10 years from today. One of the number 1 emitters of carbon are cars. Simple solution of cars are bikes and skateboards.
All we're going to do is share with you how veymax looks at the E-board industry, how veymax looks at advocacy, and what we currently do. And hopefully from that you can see some things that you can do. It will also spark some ideas on how you can do things that are different and better than what veymax is currently doing.
We support advocacy and getting more people on E-bikes and electric motorized skateboards is just through people for skateboards. It's an organization that we were proud to be there at the beginning. These people do incredible work, look at what they're doing with sustainability, look at what they just delivered from Washington in the transportation bill two billion dollars for motorized e-longboards. The United States is going to be transformed once again with more safe places to ride your eboards.