The global one wheel electric scooter market size was worth around USD 168.6 Million in 2022 and is predicted to grow to around USD 323.8 Million by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2023 and 2030.
The study examines the market’s drivers, restraints, and challenges as well as the impact each has on demand over the forecasted period. The paper also looks at new potential in the one-wheel electric scooter market.
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Overview of the one-wheel electric scooter market
A one-wheel electric scooter is a sort of unicycle that combines an electric motor, gyroscopes, sensors, and accelerometers to help the user maintain balance on the scooter’s one wheel. These kinds of vehicles are made for drivers who are able to control the motors so that the vehicle balances itself in response to the driver’s moment. A personal vehicle that primarily uses electric power is the one-wheel electric scooter. The inventive concepts of zero-emission automobiles have been fueled over the past ten years by green energy programmes. Due to technological limitations and high expense, the usage of one-wheel electric scooters is currently only feasible in industrialised nations.
Key Findings
The market is expanding as green transportation is becoming more popular.
With the replacement of conventional modes of transportation by electrically driven cars equipped with cutting-edge technology, the mobility landscape has undergone a significant transformation. To reach the best alternative for electric transportation, electric-driven mobility essentially offers three advantages: economic, environmental, and technical. Since they produce no carbon emissions and are more economical than other options, electric scooters with one wheel are a popular type of personal transportation in cities. Throughout the anticipated period, it is anticipated that increasing environmental awareness and a preference for e-mobility would boost the growth of the global one-wheel electric scooter market.
Hoverboard injuries impede market expansion.
Hoverboards are not typically used for long-distance transportation, which would limit the growth of the one-wheel electric scooter industry. They can be difficult to balance and are not perfect for everyone. As of right now, hoverboards have caused injuries to over 27,000 people worldwide. Fractures (40%) and contusions (17%), followed by strains and/or sprains (13%), were the most common injuries among them. Thus, during the course of the projection period, this is anticipated to limit market growth.
Strong supplier and dealer networks give a wealth of opportunities for market expansion.
The vast majority of players in the one wheel electric scooter sector rely on distributor or dealer networks to market their products and serve as the regional authorities and faces for their brands. Customers have a personal connection to dealers and distributors, which promotes customer loyalty and eventually boosts sales. Directly selling one-wheel electric scooters to consumers could seem like a sensible method to increase profits while reducing administrative and operating costs. Additionally, their main markets are in North America and Europe, while the bulk of producers are based in China.
An enormous challenge is posed by strict rules.
The U.S. Consumer Product Safety Commission (CPSC) has said that there is a risk of death and serious injury when using the Future Motion Onewheel self-balancing electric skateboards. The CPSC strongly advises against using any Onewheel models, including the Onewheel, Onewheel+, Onewheel+ XR, Onewheel Pint, Onewheel Pint X, and Onewheel GT. According to the CPSC’s assessment of those products, being ejected from the Onewheel devices might cause a significant injury or even death to the user. At least four fatalities and countless instances of major injuries have been linked to the product’s failure to balance the rider or stop unexpectedly while in motion between 2019 and 2021.
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The Global One Wheel Electric Scooter Market is segmented based on product, application and region.
Global One Wheel Electric Scooter Market: Product Segment Analysis
● Electric Unicyle
● Electric One Wheel Hoverboard
Global One Wheel Electric Scooter Market: Application Segment Analysis
● Off-road Activities
● Daily Commute
Recently Occurring Events :
The global one wheel electric scooter market is dominated by players like:
● OneWheel
● Ryno Motors
● E-RIDERZ PTY LTD
● Airwheel Holding Limited
● Changzhou Smilo Motors Co Ltd
● Dongguan Begode Intelligent Technology Co Ltd
● Future Motion Inc
● Inmotion Technologies Co Ltd
● Inventist Inc
● IPS Electric Unicycle
● King Song Intell Co Ltd
● Ninebot Asia Pte Ltd
● Segway Inc
● SuperRide and Swagtron among others
During the forecasted period, North America is anticipated to lead the market.
During the projected period, North America is anticipated to dominate the one-wheel electric scooter market globally. The growing use of one-wheel electric scooters for personal transportation as well as the popularity of hoverboards among children and teenagers as a leisure activity are both credited with the region’s rise. The United States dominates this geographical market because there are several one-wheel electric scooter producers there.
The region with the highest CAGR during the forecast period is Asia Pacific. The rise of the middle class and the reduction in production costs brought on by commoditization are attributed for propelling the region’s development. China is a major producer of inexpensive unicycles and hoverboards, and it’s expected to maintain its monopoly in the Asia Pacific region. The increased manufacture of technologically superior unicycles and hoverboards is also expected to support market expansion. The region’s market is expanding as a consequence of an increase in the number of micromobility companies in India that are creating mobility solutions to address issues like inadequate road infrastructure, congested roadways, and rising air pollution.
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