The global one wheel electric scooter market size 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). One-wheeled electric scooters are personal commuting vehicles powered mainly through electrical energy and propelled by a single wheel. Globally, this private transportation system is primarily utilized by millennials and generation Z. This transportation system is gaining popularity in metropolitan areas because of the evolving nature of urban transportation.
The electric motor of a one-wheeled electric scooter drives the wheel and provides the necessary torque for propulsion. These one-wheeled electric scooters include a self-balancing technology that primarily utilizes software programs to monitor every performance index. Increasing green mobility, high portability compared to other personal electric vehicles, the decline in the price of batteries per KWH, rising urbanization, local commute requirements, and changing outlook on leisure & recreational activities are anticipated to drive the global one wheel electric scooter market.
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Shift in Preference for Green Mobility to Foster Market Growth
Traditional mobility mediums are being replaced by electrically-powered solutions equipped with modern technologies, resulting in a substantial shift in the global outlook over the past decade. Electric mobility provides three benefits to achieve its optimal solution: economic, environmental, and technical advantages. One-wheeled electric scooters, propelled by electric motors, are a popular personal transportation option in urban areas, resulting in zero carbon footprints and a cost-effective alternative. The market for one-wheeled electric scooters in the coming years is expected to expand due to improving environmental awareness and a growing preference for e-mobility.
Rising Urbanization and Local Commute Requirements to Propel Growth
In recent years, urbanization has reached an all-time high as most of the population has migrated to urban regions in response to rising employment possibilities and fast industrialization. In this age of urbanization, every passenger must commute daily between their home and place of employment, which involves travel time. Moreover, urban travelers are increasingly drawn to the technologically advanced commuting solution and its time-efficient commuting choice to avoid unnecessarily lengthy traffic congestion and promote green mobility.
Due to the abovementioned problems, urban commuters increasingly rely on technologically enhanced commuting solutions. The one-wheeled electric car is a leading solution due to its advanced technology and compact form. The one-wheeled electric scooter is an efficient and time-saving mode of transportation for riders with varying needs. The increasing use of one wheel electric scooters for daily commuting in metropolitan areas and the changing riding expectations of passengers are anticipated to increase the market for one wheel electric scooters in the coming years.
Uncomfortable Riding Experience due to Design Structure to Hinder Market Growth
The one wheel electric scooter needs training and driving skills to operate such a personal commute. Moreover, this personal commute device is also not fitted with or has a provision for seating. By standing on the side stand, operators operate the machine to commute from one place to another. These continuous standing operations are reducing the driving comfort level. The operator cannot use the device for a longer duration owing to its design solution and requirement of a stable standing position, which becomes an uncomfortable riding experience compared to other personal commute devices. Thus, the design solution of the one wheel electric scooter is expected to hinder the market growth in the near future.
Strong Dealership and Supplier Network to Spur Market Opportunities
Most market participants rely on distributor or dealer networks to sell their products and represent their brand locally in the global market for one-wheeled electric scooters. Dealers and distributors cultivate personal contact with the final consumer, eventually promoting sales. Selling one-wheeled electric scooters directly to consumers may be an economical method of earning income and avoiding administrative and operating costs. In addition, most manufacturers are located in China, and their primary markets are North America and Europe.
The direct entry into these markets and an additional office and manufacturing unit incurs higher capital expenditures and a greater need for working cash. Developing a network of distributors reduces operating and capital expenditures and provides distributors with a customer base from which they may increase their product reach. The market participants, such as F-wheel, Ninebot, and others, are developing dealer networks across the global market to achieve optimum product reach and operational efficiency. Market participants must establish a strong distribution network for high revenue opportunities and optimum capital expenditure.
The global one wheel electric scooter market is segmented by product type, application, sales channel, speed limit (Km/h), and region.
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. Personal transportation has witnessed a drastic technological shift in the last few years, owing to changing electric mobility outlook and the high penetration rate of digital technologies in commute solutions. The electric unicycle is a widely utilized one wheel electric scooter for personal commute solutions such as daily workplace commute and short-distance commute activities because electric unicycles are equipped with a battery, which is responsible for providing power to the scooter, and is a cost-effective and green mobility solution.
The Electric One Wheel Hoverboard is the second-largest segment. Electrification in a personal commute solution involves driving the one wheel hoverboard through an electric motor. An electric one wheel hoverboard is mainly used in recreational activities. In recent years, the middle-age generation has been inclining toward trendy and technologically advanced commute medium to evolve recreational activities more extensively. The increasing recreational activities are anticipated to support the growth of electric one wheel hoverboards in the upcoming years.
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. In recent years, leisure activities have been gaining traction globally as stress management and maintaining the modern lifestyle is a primary concern for most people. Leisure and daily outdoor exercises are primary practices to manage the activities for a stress-free lifestyle. Off-road activities for one wheel electric scooters are gaining traction in the middle age group and are anticipated to maintain their momentum soon.
Daily Commute is the second-largest segment. In recent years, growing urbanization has demanded portable and personal commute solutions to avoid the long halted traffic jams and unavoidable delays while commuting to work or short-distance commutes on urban roads. The growing urbanization and increasing demand for portable personal commute solutions are anticipated to bolster the one wheel electric scooter market over 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. Most market players have dealers and distributors' platforms to provide a wide range of products. Offline sales are still a popular sales channel in many developing nations. Offline sales are associated with less trading duration than online sales, as online sales are sometimes related to long logistics activities. The growing dealer and distributor network across nations is estimated to support offline sales growth.
The Online Sales segment is the fastest growing. In recent years, global e-commerce activities have become a popular sales channel among all industries owing to their availability, direct comparison of the product range, and cost-effective product offerings. For one wheel electric scooters, most market players use the online sales channel by their eCommerce platform or third-party E-commerce service providers to penetrate the global market. According to McKinsey Global Institute estimates, e-commerce accounts for 12% of the international trade of physical goods, both business-to-business (B2B) and business-to-consumer (B2C or retail) sales. This growth is expected to continue across all markets, including one wheel electric scooter market.
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. 20 km/h to 30 km/h is a low-speed electric scooter mainly used for short-range or outdoor daily exercise to ensure low durational activities. Continuous demand and changing daily commute needs for slow speed range are expected to support the growth of the 20 km/h to 30 km/h range one wheel electric scooters in the near future.
The 30 km/h to 50 km/h segment is the fastest growing. 30 km/h to 50 km/h segment is a widely used one wheel electric scooter as this speed range is enough to operate in daily urban conditions and perform daily commute activities. The changing mobility outlook in the urban areas and growing inclination toward electric-driven mobility solutions are anticipated to spur the demand for 30 km/h to 50 km/h range one wheel electric scooters.
Region-wise, the global one wheel electric scooter market has been studied across North America, Europe, Asia-Pacific, and LAMEA.
Is North America Likely to Dominate the Global One Wheel Electric Scooter Market?
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North America is the highest revenue contributor and is estimated to grow at a CAGR of 3.7% during the forecast period. Smart technologies, green mobility, and incasing usage of personal commute transportation medium are the factors responsible for the market growth. Electrification of urban mobility has gained immense traction in the North American region due to the increased sales of electric-driven mobility solutions equipped with electrically driven technologies. Also, other factors, such as increasing penetration of the electric vehicles on the commercial front and growing inclination toward green mobility, support the growth of the one wheel electric scooter market.
North America is a dominant market for electric mobility and has significant players offering advanced electric one wheel transportation solutions. The region occupied a considerable market share of the global one wheel electric scooter market in recent years and is expected to lead the market in terms of adoption of electric mobility solutions. This is attributed to the extensive adoption of advanced electric personal mobility solutions and growth in public demand for operational-efficient, portable and eco-friendly commute solutions.
Europe is the second-largest region and is projected to reach USD 62 million by 2030, growing at a CAGR of 5.6%. This is attributed to numerous developments carried out by top market players, technological advancements, and development in the one wheel electric scooter across Europe. Furthermore, end-users from Europe demand a technically advanced, low-cost, portable, and lightweight personal commute solution. High disposable income is also likely to drive the European market growth.
Asia-Pacific is the fastest-growing region. Electric mobility, especially in China and Japan, is witnessing a leading position with increased production. Vehicle electrification is the emerging trend in the region, and manufacturers are focused on developing electrical-driven technology to cater to the changing demand for electric mobility. Consequently, Asia-Pacific holds a significant share in the global market owing to the high presence of end consumers in the region.