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Global One Wheel Electric Scooter Market to Reach US$ 191.4 Million by 2032, Bolstered by Rising Environmental Consciousness

January 12, 2022 | Automotive Industry

The latest report by IMARC Group, titled “One Wheel Electric Scooter Market Report by Product (Electric Unicycle, Electric One Wheel Hoverboard), Speed Limit (20 Kmph - 30 Kmph, 30 Kmph - 50 Kmph, More than 50 Kmph), Distribution Channel (Online, Offline), Application (Off-road Activities, Daily Commute), and Region 2024-2032,” finds that the global one wheel electric scooter market reached a value of US$ 131.6 Million in 2023. One wheel electric scooters are self-balancing recreational vehicles that are used for personal commuting. They are driven by one wheel and obtain their power through electricity. They consist of an electric motor to drive the wheel, producing the required torque for motion. One wheel electric scooters mainly operate through software applications to track all performance indexes. These vehicles are increasingly utilized by the millennials and generation Z across the globe as they offer a faster pace and allow long-distance movement on a single charge. In addition to this, they occupy minimal road space and are emission-free and convenient for solo travelers.

Global One Wheel Electric Scooter Market Trends: 

The market is primarily driven by the increasing demand for green mobility alternatives and the need for higher portability than personal electric vehicles. Due to this, one-wheel electric scooters are preferred over four-wheelers and three-wheelers to avoid traffic jams and avail convenient parking. Additionally, with the rising environmental consciousness and the need for lowering their carbon footprints, consumers are shifting toward electric vehicles for local as well as long-distance commutes. Besides this, the declining prices of batteries per KWH are also propelling the demand for one-wheel electric scooters. Moreover, key players are integrating electric scooters with the Internet of Things (IoT) solutions to enhance maneuverability and easy tracking of repair solutions. Furthermore, the continuous introduction of strong dealerships and supplier networks is creating a positive outlook for the market. Looking forward, the market value is expected to reach US$ 191.4 Million by 2032, exhibiting a CAGR of 4.2% during 2024-2032.

Market Summary: 

  • Based on the product, the market has been segmented into electric unicycles and electric one wheel hoverboards.
  • On the basis of the speed limit, the market has been classified into 20 Kmph-30 Kmph, 30 Kmph-50 Kmph, and more than 50 Kmph.
  • The market has been categorized based on the distribution channel into online and offline.
  • On the basis of the application, the market has been segregated into off-road activities and daily commute.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Airwheel Holding Limited, Dongguan Begode Intelligent Technology Corporation Limited, DYU & F-wheel, Future Motion Inc., Inmotion Technologies Corporation Limited, IPS Electric Unicycle, King Song Intell Corporation Limited, Ninebot Limited, SuperRide Unicycle, and Swagtron.

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Global One Wheel Electric Scooter Market to Reach US$ 191.4 Million by 2032, Bolstered by Rising Environmental Consciousness
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