One Wheel Electric Scooter Market Expected to Worth $355.5 Million by 2031, Latest Report

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. 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.

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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.

The key players profiled in this report include

The global one wheel electric scooter market report includes an in-depth analysis of the major market players including 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, and SuperRide.

The report analyzes these key players in the global one-wheel electric scooter market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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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 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.

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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.

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.

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Moreover, Continual R&D and improvements in battery technology have helped improve the storage capacity and reduce the overall cost of batteries, such as lithium-ion batteries, making them a popular choice for mobile, low-cost devices such as one wheel scooters, hover boards & other means of mobility. In addition, ongoing development of technological advanced battery technologies, such as graphene batteries, solid-state electrolyte batteries, and zinc-manganese oxide batteries, help improve the range of electric vehicles, reduce overall weight, charging time as well as lower the carbon footprints, which is expected to offer lucrative growth opportunities for affordable one wheel electric scooter market.

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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