Press release
Electric Unicycle Market Is Growing Rigorously with Major Players: Gotway, InMotion, KingSong, Hoverclub, Ninebot, Swagtron
Electric Unicycle Market
In past few years, the use of personal transport products and its integration with electricity is transforming the automotive industry. Similarly, electric unicycles are picking up the steam across the globe. An electric unicycle consists of single wheel. Self-balancing in electric unicycle is achieved with the help of gyroscope and accelerometer. The electric unicycle is composed of electric motor, rechargeable battery, motherboard with a driver and gyroscope. Moreover, the electric unicycle is driven with the help of electric motor rather than the human interaction. The versatility to drive on any surface and its compact size is anticipated to grow the market.
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COVID-19 scenario analysis:
The novel coronavirus is possessing a burgeoning threat on economies. Besides the shutdown of industries has impacted in revenue generation and recession.
However, due to the impact of COVID-19 and the implication of strict physical distancing norms will anticipate considerable decrease in use of public transport.
Also, with economic activity slowing down, impacting buying power of consumers, demand will shift towards lower priced or smaller vehicles in personal mobility space
This shift will gravitate consumers to procure electric unicycle market for commuting in certain countries.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The fast convenient and personal mobility option offered by electric unicycle is driving the market growth. Additionally, the electric unicycles are portable, compact and lightweight which can be fitted in backpacks attracts a lot of consumers. Moreover, electric unicycle being inexpensive and environment-friendly is propelling the market. Besides, the electric unicycle reduces the stress on hands by leaving your hand free while driving, unlike a scooter. However, the expensive battery replacement cost could hamper the market growth. Furthermore, rising demand from youth could proliferate the market growth.
The electric unicycle market trends are as follows:
Technological developments to nurture the market growth
With rising congested space in urban areas, the demand for electric unicycle has increased significantly. Moreover, electric unicycle manufacturers are heavily investing in R&D. In 2015, Ford has patented self-propelled unicycle engageable with vehicle. According to the patent, the car wheel could be turned into electric unicycle. Ford notes a jack system could be implemented into the car’s design to allow easy access to the wheel. Additionally, Ford would be providing anti-theft features to protect the vehicle left on ground with three-wheels.
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Rise in unicycling culture
The growing trend for unicycling has witnessed a large adoption in various activities like off-roading unicycling, mountain unicycling, sports unicycling etc. Moreover, the basketball unicycling and hockey unicycling culture has raised significantly in recent years. Besides, many consumers even prefer electric unicycle for daily commuting.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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