Portland, OR, Jan. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global one wheel electric scooter market was pegged at $110.2 million in 2019, and is anticipated to reach $146.7 million by 2027, growing at a CAGR of 5.0% from 2020 to 2027.
Increase in green mobility, rise in urbanization, local commute requirements, and declining prices of batteries per KWH have boosted the growth of the global one wheel electric scooter market. Moreover, high portability compared to personal electric vehicles supplemented the market growth. However, safety in compare to available commuting alternatives and uncomfortable riding experience due to its design structure hamper the market growth. On the contrary, strong dealership & supplier network and continuous product developments are expected to open lucrative opportunities for the market players in the future.
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Covid-19 Scenario
- Governments of several countries have imposed temporary lockdown of various industries. The prolonged lockdown negatively affected production and sales activities. Moreover, the supply chain disrupted and led to a shortage of raw materials.
- The demand for one wheel electric scooter has declined during the Covid-19 pandemic due to restrictions on commute imposed by the government to limit the spread of infection.
- However, the demand is expected to grow by the first quarter of 2021 due to an increase in health concerns among end users, increase in requirements for personal commute solutions to comply with social distancing norms.
Get detailed COVID-19 impact analysis on the One Wheel Electric Scooter Market Request Here!
The global one wheel electric scooter market is segmented on the basis of product type, application, sales channel, speed limit, and region. Based on product type, the electric unicycle segment is anticipated to register the highest CAGR of 5.1% during the forecast period. However, the segment held the largest share in 2019, accounting for nearly 90% of the total revenue of the market.
On the basis of application, the off-road activities segment is expected to register the highest CAGR of 5.5% during the forecast period. Moreover, the segment held the lion’s share in 2019, contributing to more than two-thirds of the market.
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The global one wheel electric scooter market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to manifest the highest CAGR of 6.6% during the forecast period. However, the market across North America held the largest share in 2019, accounting for more than one-third of the market.
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.
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