One Wheel Electric Scooter Market Ascends Steadily at a CAGR of 5.2%

Introduction

One-wheeled electric scooters are primarily powered by electricity and are used as personal transportation for commuting. The most significant global demographic using these personal transportation systems are millennials and members of Generation Z. Due to the changing perception of urban mobility, this form of transportation is becoming more popular in metropolitan areas. The market for one-wheel electric scooters is anticipated to grow due to rising urbanization and the need for local transportation, high portability compared to other personal electric vehicles, declining battery prices per KWH, and shifting attitudes towards leisure and recreational activities.

Market Dynamics

Preference for Green Mobility Propels the Global One Wheel Electric Scooter Market

Over the last ten years, the mobility landscape has undergone tremendous change as conventional transportation methods are replaced by electrically powered vehicles with cutting-edge technology. To get the best solution for electric mobility, electric-driven mobility primarily provides three benefits: economic, environmental, and technical. One-wheeled electric scooters are a popular personal transportation option in urban areas, resulting in zero carbon footprints and a cost-effective alternative. Over the forecast period, it is estimated that rising environmental awareness and a growing preference for e-mobility would help the market growth for one-wheel electric scooters.

Strong Dealership and Supplier Network Creates Immense Opportunities for the Global One Wheel Electric Scooter Market

Most market participants in the global one-wheel electric scooter market rely on distributor or dealer networks to trade their products and serve as the local brand experts and faces. Dealers and distributors establish a personal connection with the customer, fostering repeat business and eventually boosting sales. It might seem practical to increase revenue while reducing administrative and operating costs to sell one-wheel electric scooters directly to end consumers. Additionally, most producers are based in China, and North America and Europe are their two main markets.

Direct entry into these markets requires additional working capital and capital expenditures for offices and production facilities. By creating a network of distributors, a company can increase the reach of its products while minimizing operating and capital costs and providing distributors with a ready-made clientele. Market players, including F-wheel, Ninebot, and others, are expanding their dealer networks worldwide to maximize product reach and operational effectiveness. Market participants must establish a strong distribution network to obtain high revenue prospects and minimize capital expense. These elements offer attractive potential for business expansion.

Regional Insights

North America is the highest revenue contributor and is estimated to grow at a CAGR of 3.7% during the forecast period. The elements driving the market growth are advanced technologies, sustainable transportation, and a decline in the use of personal commuter transportation. Due to rising sales of electric-driven mobility solutions outfitted with electrically driven technology, the electrification of urban mobility has made significant progress in the North American region. The one-wheel electric scooter market is expanding due to several additional causes, including rising commercial use of electric vehicles and increasing interest in green mobility. 

Asia-Pacific is the fastest-growing region. Electric mobility, particularly in China and Japan, is achieving global leadership with expanded production. The region is seeing an increase in the electrification of vehicles, and local businesses are concentrating on creating electrically powered technologies to meet the rising need for electric mobility. Since there are many end-users in Asia-Pacific, the region has a sizable market share.

The European one wheel electric scooter market is projected to reach USD 62 million by 2030, growing at a CAGR of 5.6%. Due to many developments made by leading industry players active in the Europe market, Europe is predicted to experience a lucrative expansion in the worldwide one-wheel electric scooter market. Additionally, consumers in the European market are looking for technologically sophisticated, affordable, portable, and lightweight personal computing solutions. The market growth in this region is fueled by high disposable income and the growing populace of Europe.

Key Highlights

• The global one wheel electric scooter market was worth USD 120 million in 2021. It is projected to reach USD 190 million by 2030, growing at a CAGR of 5.2% during the forecast period (2022–2030). 
• By product type, the global one wheel electric scooter market has been segmented into Electric Unicycle and Electric One Wheel Hoverboards. The Electric Unicycle segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.3% during the forecast period.
• By application, the global one wheel electric scooter market has been categorized into Off-road Activities and Daily Commutes. The Off-road Activities segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.7% during the forecast period.
• By sales channels, the global one wheel electric scooter market has been categorized into Online Sales and Offline Sales. The Offline Sales segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.1% during the forecast period.
• By speed limit (Km/h), the global one wheel electric scooter market has been categorized into 20 km/h to 30 km/h, 30 km/h to 50 km/h, and more than 50 km/h. The 20 km/h to 30 km/h segment is the highest contributor to the market and is predicted to grow at a CAGR of 4.8% during the forecast period.
• By region, the global one wheel electric scooter market has been studied across North America, Europe, Asia-Pacific, and LAMEA. North America acquires maximum market share.

Competitive Players

Competitive Analysis

• 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
• SuperRide

Recent Developments

Market News

• In May 2022, InMotion Hosting, an employee-owned and operated technology company specializing in web hosting, cloud solutions, and managed services, was certified by Great Place to Work® on May 17, Certification Nation Day.
• In February 2022, Inmotion Technologies in Tyresö, southern Stockholm, expanded with a production facility of 6,000 sqm to meet the strong demand for the company's products. Inmotion develops and produces power electronic products for electrified commercial vehicles.

Segmentation

Global One Wheel Electric Scooter Market: Segmentation

By Product Type

• Electric Unicycle
• Electric One Wheel Hoverboard

By Application

• Off-road Activities
• Daily Commute

By Sales Channel

• Online Sales
• Offline Sales

By Speed Limit (km/h)

• 20 km/h to 30 km/h
• 30 km/h to 50 km/h
• More than 50 km/h

By Regions

• North America
• Europe 
• Asia-Pacific
• LAMEA