According to a recent report published by Allied Market Research, titled, “One Wheel Electric Scooter Market by Product Type, Application, Sales Channel, and Speed Limit (kmh): Opportunity Analysis and Industry Forecast, 2020–2027,”
The global one wheel electric scooter market was valued at $110.2 million in 2019, and is projected to reach $146.7 million by 2027, registering a CAGR of 5.0%.
North America dominates the market in terms of revenue, followed by Europe, Asia Pacific, and LAMEA. U.S. led the global one wheel electric scooter market share in 2019, and is expected to grow at a significant rate during the forecast period due to increasing penetration of electric mobility solution, changing urban transportation activities, and rising requirement of portable urban commute solution across the country.
One wheel electric scooter is a personal commuter transportation system driven by one wheel and mainly gets power through electrical energy. One wheel electric scooters are self-balancing mode of transportation with portable design and cost-effective operations. These personal transportation systems are mainly used by millennial and generation Z across the globe. Such transportation system is gaining traction in the urban areas owing to changing outlook of the urban transportation. These types of electric scooters are not entered under specific motor rules and regulations for drive, but increasing number of footpath and individual accidents, these systems have limitations in some countries and are even banned in some countries.
Online sales is the new way of product distribution adopted by majority of the market participants by developing own or third party E-commerce platforms. Product development and expansion of the sales or manufacturing facilities for long-term business opportunities are the key strategies adopted by the participants in the global one wheel electric scooter market.
Increasing green mobility, high portability as compared to other personal electric vehicles, rising urbanization and local commute requirements, decline in price of batteries per KWH, and changing outlook of leisure & recreational activities are expected to drive the global one wheel electric scooter market. However, low safety as compared to other commuting options, uncomfortable riding experience due to design structure, and new regulations & rules are expected to restrain the growth of market during the forecast period. Moreover, Strong dealership and supplier network, Continuous product development gains competitive advantage are anticipated to supplement the global one wheel electric scooter market growth; thus, providing a better opportunity for the growth of the market in the near future.
Key Findings Of The Study
- By product type, the electric unicycle segment is expected to register significant growth during the forecast period.
- On the basis of application, the off-road activities segment is projected to lead the global one wheel electric scooter market in terms of market share.
- By sales channel, the online sales segment is expected to register significant CAGR during the forecast period.
- By region, North America dominated the market in 2019, and Europe is expected to surpass North America and hold leading market share by end of the forecast period.
Key players profiled in the one wheel electric scooter market report include INMOTION Technologies Co., Ltd., F-WHEEL, Dongguan Begode Intelligent Technology Co.LTD, Ninebot Limited, Guangzhou Veteran Intelligent Technology Ltd., King Song Intell Co., LTD., FUTURE MOTION INC., SWAGTRON, IPS Electric Unicycle, and SuperRide.