One Wheel Electric Scooter Market Size, Strong Revenue and Competitive Outlook By Top Leaders And Forecast To 2031

Increase in urbanization and local commute requirements, high portability as compared to other personal electric vehicles, and rise in green mobility have boosted the growth of the global one-wheel electric scooter market. However, low safety compared to other commuting options hinders the market growth. On the other hand, continuous product development would open new opportunities in the future. The global one wheel electric scooter market was valued at $130.2 million in 2019, and is projected to reach $355.5 million by 2031, growing at a CAGR of 8.3% from 2022 to 2031.

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One wheel electric scooter is a personal commuter transportation system driven by one wheel and mainly gets power through electrical energy. One wheel electric scooters are self-balancing mode of transportation with portable design and cost-effective operations. These personal transportation systems are mainly used by millennial and generation Z across the globe. Such transportation system is gaining traction in the urban areas owing to changing outlook of the urban transportation. These types of electric scooters are not entered under specific motor rules and regulations for drive, but increasing number of footpath and individual accidents, these systems have limitations in some countries and are even banned in some countries.

By product type, the electric unicycle segment is estimated to register the highest CAGR of 8.7% from 2022 to 2031. In addition, the segment held the largest share in 2021, contributing to more than four-fifths of the global one-wheel electric scooter market, due to its portability and design solution of the system.

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Moreover, leisure and recreational activities have been gaining traction in recent years across the globe as every individual is focusing toward the positive lifestyle for stress management. These recreational activities are gaining momentum and are expected to gain traction in the upcoming years. One wheel electric scooter is widely used for recreational purposes across the globe. The changing public lifestyle and growing health concern are anticipated to support the growth of recreation activities in the recent years. The increase in recreational activities is expected to in turn support the growth of one wheel electric scooter in the near future. Freestyle unicycles are used for tricks and stunt riding. The wheels are smaller for better maneuverability. A cruiser unicycle is a hybrid of a commuter unicycle and a mountain unicycle that has gained popularity in recent years. The increasing adoption of unicycles in various activities such as off-road unicycling, and mountain unicycling is expected to propel the growth of the one wheel electric scooter market

The key players profiled in this report include

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
Swagtron

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Online sales channel is gaining traction in the global market as e-commerce is becoming a popular sales channel amongst end users. To cater to the changing consumer buying behavior, market players are developing their own e-commerce platforms or providing products through third party e-commerce platforms. Moreover, market players need to analyze the country's regulations and rules regarding driving one wheel electric scooters on roads or footpaths. Product development and expansion of the sales or manufacturing facilities for long-term business opportunities are the key strategies adopted by the participants in the global one wheel electric scooter market.

By sales channel, the offline sales segment held the lion's share in 2021, accounting for nearly three-fifths of the global one-wheel electric scooter market, owing to well-established dealers and distributors' networks. However, the online sales segment is estimated to register the highest CAGR of 9.1% during the forecast period, due to increasing internet penetration and changing the outlook of the e-commerce platform.

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The one wheel electric scooter rentals companies are expanding at a significant pace. Increasing number of startups are interested in building a successful one wheel electric scooter rental platform with unique offers. Electric scooter enthusiasts and travelers are the main target groups for such one wheel electric scooter rental startups. Electric unicycles are expensive and require riders to put in efforts to learn to ride for their own safety. The cost of owning a one wheel electric scooter such as unicycles, hover boards, and others is high. Therefore, the concept of renting a bike and riding has become popular. The expansion of electric scooter rental companies offers potential opportunities for the growth of the market.

By application, the off-road activities segment is expected to portray the highest CAGR of 8.5% during the forecast period. In addition, the segment held the largest share in 2021, contributing to nearly three-fourths of the global one-wheel electric scooter market, due to increasing recreational activities across the globe.

Regional Analysis:

By region, the global one-wheel electric scooter market across North America held the lion's share in 2021, accounting for more than one-third of the market, due to high demand for portable urban transit solutions. However, the market across Asia-Pacific is estimated to register the highest CAGR of 9.3% during the forecast period, owing to increasing demand for green mobility solutions across the region.

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