USD 155.39 million
Report ID: SQSG25C2015 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 61 | Figures: 75
Global One Wheel Electric Scooter Market size was valued at USD 155.39 million in 2021 and is poised to grow from USD 168.6 million in 2022 to USD 351.33 million by 2030, growing at a CAGR of 8.5% in the forecast period (2023-2030).
A one-wheel electric scooter is a single-wheeled personal transportation system that is powered mostly by electricity. Globally, millennials and members of generation Z largely employ this kind of personal transportation. Due to a shift in the perception of urban mobility, this type of transportation system is becoming more popular in metropolitan areas. An electric motor is used in a one-wheeled electric scooter to drive the wheel and generate the necessary torque to move. These self-balancing, one-wheeled electric scooters track all of the performance indices primarily using software programmes. These electric scooters are not subject to any particular motor rules and driving restrictions.
The market for one-wheel electric scooters is anticipated to grow due to factors including rising urbanisation and the need for local transportation, high portability compared to other personal electric vehicles, declining battery prices per KWH, and shifting attitudes toward leisure and recreational activities. Additionally, it is projected that a robust dealer and supplier network, ongoing product development, and competitive advantage will support the expansion of the worldwide one-wheel electric scooter market. But over the projected period, low safety compared to alternative commuting options, uncomfortable riding due to design structure, and new regulations and guidelines are anticipated to impede market growth.
US One Wheel Electric Scooter Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 155.39 million
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The global one wheel electric scooter market has been segmented based on product type, sales channel, and region. Based on product type, the One Wheel Electric Scooter Market is segmented into unicycle and one wheel hoverboard. Based on the sales channel, the One Wheel Electric Scooter Market is segmented into online and offline. Based on region, the one wheel electric scooter market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
One Wheel Electric Scooter Market Analysis by Sales Channel
The offline sales sector currently holds the biggest market share worldwide. Customers' preference for in-person purchases over internet buying may be to blame for the dominance. The consumer can access a vast variety of things with internet purchasing, though; everything is accessible with a single click. Shoppers can go shopping at any time of day. The internet store is open around-the-clock. Additionally, customers receive special discounts on products purchased online that are unavailable in stores. Therefore, it is predicted that the online sales category will have a higher CAGR and hold the highest share during the forecast period.
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North America now retains the top spot in the industry, due to the rising popularity of hoverboards among kids and teenagers as a recreational activity and the rising acceptance of one-wheel electric scooters for personal mobility. The majority of one-wheel electric scooter manufacturers are based in the United States, which is why it leads this regional market.
During the projected period, the one-wheel electric scooter market is anticipated to grow at the highest CAGR and lead the world. The sector has been expanding steadily, propelled by rising middle-class disposable income and falling production costs as a result of commoditization. China is a major manufacturer of affordable hoverboards and unicycles and is anticipated to keep its position in the Asia Pacific market over the coming years. The market for hoverboards in China is anticipated to continue growing as more technologically advanced unicycles and hoverboards are manufactured. Additionally, a number of micro-mobility firms in India providing mobility solutions to deal with inadequate road infrastructure, congested roads, with growing air pollution
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One Wheel Electric Scooter Market Driver
One Wheel Electric Scooter Market Restraint
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Many businesses are putting an emphasis on organic growth initiatives, including new launches, product approvals, and others like patents and events. Acquisitions and partnerships & collaborations were examples of inorganic growth tactics that were observed in the market. These actions have made it possible for market participants to increase their customer and revenue. With the growing demand for one wheel electric scooters in the worldwide industry, market players in the one wheel electric scooter market can expect attractive growth prospects in the future.
Top Players in the Global One Wheel Electric Scooter Market
One Wheel Electric Scooter Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by sales channel, offline dominated the global one wheel electric scooter market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global one wheel electric scooter market owing to the region's rising popularity and the rising acceptance of one-wheel electric scooters for personal mobility.
|Market size value in 2021||USD 155.39 million|
|Market size value in 2030||USD 168.6 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global One Wheel Electric Scooter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global One Wheel Electric Scooter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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