One Wheel Electric Scooter Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, China, Germany, Italy - Size and Forecast 2024-2028

One Wheel Electric Scooter Market Size 2024-2028

The global one wheel electric scooter market size is estimated to grow by USD 53.81 million between  2023 and 2028. The market is accelerating at a compound annual growth rate of 6.57%. The market trends and analysis report provides a thorough analysis of key growth factors, including the high portability of one-wheel electric scooters compared to other electric vehicles and the robust dealership and supplier network distribution channels in the electric vehicle industry. However, the market faces challenges due to the lack of proper safety norms compared to other commuting options, which could impede its growth. Despite these challenges, the market is expected to continue expanding, driven by the convenience and portability offered by one-wheel electric scooters and the increasing focus on sustainable transportation solutions. This market research and growth report also includes key market drivers, trends, and challenges during the forecasted period. 

 

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The market is witnessing significant growth, fueled by several key factors. As urbanization increases and local commute requirements evolve, electric mobility solutions are becoming more popular. Despite footpath and individual accidents, the economic benefits and environmental advantages are driving demand. With new regulations and rules supporting green mobility, manufacturers are continuously developing products to enhance safety and comfort. Electric unicycles, equipped with gyroscopic balancing systems, offer a unique riding experience. They contribute to reducing carbon emissions and vehicular exhausts, combating air pollution. Investments in infrastructure like cycling lanes and charging stations further support the expansion of this market.

Market Dynamics

The market is driven by several factors, including the increasing demand for personal transportation solutions among millennials and urban commuters. The integration of advanced electric motor and battery technology enhances torque and self-balancing capabilities, leading to improved performance and efficiency in electric vehicles. However, challenges such as driving restrictions and accidents on footpaths pose obstacles to the widespread adoption of these green mobility solutions. Overcoming these challenges requires continuous innovation in software programs and gyroscopic balancing systems to ensure safety and reliability for riders. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Drivers

The high portability of one wheel electric scooters compared to other electric vehicles is notably driving the market. One wheel scooters, also referred to as electric unicycles, have gained traction as an innovative and compact solution for urban commuters seeking efficient and eco-friendly modes of transportation. In addition, one of the main reasons why people are choosing these scooters is because they are much more portable than other types of electric vehicles.

Moreover, in contrast to other types of scooters, such as two-wheel electric scooters and bicycles, one wheel scooters have a minimalist design. In addition, they have one wheel and a small frame, which makes it easier to move around, carry, and store. Therefore, this makes one wheel scooters perfect for navigating busy city streets and parking lots. Hence, such factors are driving the market during the forecast period.

Significant Market Trends

The existence of strong dealership and supplier network distribution channels in the electric vehicle industry is an emerging trend in the market. In the global market, most of the market player's marketing strategy is based on distributor or dealer networks to trade their products. In addition, dealers and distributors build a personal relationship with the end consumer that creates loyal customers and ultimately increases sales. Furthermore, selling these scooters through distributors and retailers is an effective way to generate revenue and eliminate administrative and operations costs.

Moreover, most of the manufacturers are located in China and the major markets for them are in North America and Europe. In addition, entering these markets directly with additional offices and manufacturing units leads to additional capital expenditures and adds to working capital requirements. Hence, such factors are positively impacting the market which in turn drives the market growth during the forecast period.

Major Market Challenges

The lack of proper safety norms as compared to other commuting options is a major challenge hindering the market. Personal commute solutions have been gaining traction in recent years due to the increasing urbanization and the changing ridership prospects of urban commuters. In addition, urban commuters are looking for compatible and affordable transport solutions along with efficient time-saving operations.

Moreover,  these type of scooters are one of the most popular urban commute solutions that cater to the changing needs of the urban commute. However, this type of scooter needs skilled operators to operate it efficiently. In addition, due to the unique design of the one wheel electric scooter and the need for skilled operators, the chances of accidents are high, and the operator's safety is low. Hence, such factors are hindering the market during the forecast period.

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Market Segmentation

The market caters to a diverse range of consumers, including millennials and tech-savvy individuals seeking convenient personal transportation solutions. These scooters feature a single-wheeled personal transportation system that utilizes an electrical motor with efficient torque and self-balancing capabilities enabled by advanced software programs. One of the key aspects driving market segmentation is the focus on motor rules and driving restrictions, ensuring compliance and safety for users. The market also offers personal commuter transportation systems powered by electrical energy and equipped with sophisticated self-balancing systems and software for enhanced control and stability. Battery technology advancements have led to improved Battery performance, supporting the development of off-road or all-terrain models for adventurous riders. Additionally, the market caters to consumers interested in green mobility, with electric scooters providing an eco-friendly alternative to traditional vehicles. The market's segmentation includes targeting Early adopters and Tech aficionados through online retailers and brick-and-mortar stores, offering a variety of options based on Battery technology, Motor efficiency, and Gyroscopic balancing systems. Furthermore, Ride-hailing platforms are integrating scooters into their services, expanding the market reach and accessibility for urban commuters.

By Distribution Channel

The offline segment is estimated to witness significant growth during the forecast period. The offline segment accounts for a significant portion of the market share due to the benefits of in-store experiences. In addition, brick-and-mortar stores offer test rides and expert recommendations, helping customers make informed decisions. Furthermore, offline sales channels, such as physical stores, dealers, and specialty retailers, have become an essential part of the global market. The offline segment was the largest segment and was valued at USD 80.74 million in 2018. Moreover, these channels allow consumers to experience the product first-hand, offering a real-world, interactive shopping experience. In addition, in-store displays and in-store test rides enable customers to evaluate the performance, features, and build quality of a single-wheeled electric scooter before making a purchase. For example, companies like Future Motion, one of the key companies of these type of scooters, have strategically partnered with various physical retailers and authorized dealerships. Furthermore, these partnerships enable consumers to visit dedicated showrooms or dealerships, fostering a direct connection between the brand and the potential buyer. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

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By Product

Based on the product, the market has been segmented into electric unicycle and electric one wheel hoverboard. The electric unicycle segment will account for the largest share of this segment. 

Regional Analysis

North America is estimated to contribute 41% during the forecast period.

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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America is one of the most prominent geographical market segments in the global market. In addition, the region's strong economy, cutting-edge technology, and growing focus on sustainable mobility solutions have led to a thriving market for these cutting-edge personal mobility devices. Moreover, one of the main reasons for the growth of the market in North America has to do with the growing interest in eco-friendly ways of commuting. In addition, as sustainability has become a top priority for both consumers and governments in countries like the US and Canada, there's a growing interest in electric vehicles that provide a cleaner and more environmentally friendly alternative to the conventional way of traveling. Furthermore, the compact design of the one wheel electric scooter and the fact that it's powered by electricity perfectly suit these preferences. Hence, such factors are driving the market growth in North America during the forecast period.

Key Major Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.

Airwheel Holding Ltd: The company offers one wheel electric scooters such as Airwheel electric bike, which comes with bike assist, under the brand of Q series.

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Dongguan Begode Intelligent Technology Co. Ltd., E Ride Solutions, FUTURE MOTION INC., Green Tek Service and Marketing, HoverRobotix, Hype Wireless, INMOTION, King Song Intell Co. LTD., SpeedyFeet, SuperRide, and SWAGTRON

Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The market is witnessing rapid growth, driven by various factors. With the increase in local commute requirements and the rise in fuel prices, electric micro-mobility solutions are becoming increasingly popular. Despite concerns about the price of batteries per KWH and uncomfortable riding experiences, new regulations & rules are encouraging the adoption of one-wheel electric scooters. The industry's focus on green mobility is leading to economic benefits by reducing carbon emissions and vehicular exhausts, thereby decreasing air pollution and particulate matter. Cycling lanes and charging stations are being expanded to support the growing demand for electric power in urban areas, further fueling the growth of the electric mobility industry.

The market is experiencing rapid growth, driven by various factors. Despite concerns about footpath and individual accidents, as well as low safety and uncomfortable riding experience, new regulations & rules are continuously being developed to improve safety standards. Manufacturers are focusing on continuous product development to enhance safety features and overall user experience. The increase in green mobility is leading to economic benefit, environmental benefit, and technological benefits, with one-wheel electric scooters leaving zero carbon footprints and having low impacts on the environment. These eco-friendly transport options are fuel-efficient vehicles with zero CO2 emissions, providing a sustainable solution for urban transportation needs.

The market is growing rapidly, driven by various factors. With rising urbanization and changing passenger perceptions, last-mile transportation problems are becoming increasingly evident. These issues are being addressed by the adoption of these scooters, which offer low impact on the environment and fuel-efficient vehicles for urban commuters. Utilizing gyroscopes, sensors, and accelerometers, these scooters provide efficient and safe transportation while navigating traffic congestion and reducing road accidents. Green energy initiatives in developed countries are promoting the use of electric transportation, including hoverboards and brands like F-wheel and Ninebot. With disposable income rising and a growing interest in recreational activities, one-wheel electric scooters are emerging as a popular choice for sustainable and enjoyable urban mobility solutions, supporting the vision of living sustainably.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Million for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments. 

• Distribution Channel Outlook
  • Offline
  • Online

• Product Outlook
  • Electric unicycle
  • Electric one wheel hoverboard
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina 
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Scope
Report Coverage	Details
Page number	120
Base year	2023
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 6.57%
Market Growth 2024-2028	USD 53.81 million
Market structure	Concentrated
YoY growth (%)	5.89
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 41%
Key consumer countries	US, Canada, China, Germany, and Italy
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Airwheel Holding Ltd., Dongguan Begode Intelligent Technology Co. Ltd., E Ride Solutions, FUTURE MOTION INC., Green Tek Service and Marketing, HoverRobotix, Hype Wireless, INMOTION, King Song Intell Co. LTD., SpeedyFeet, SuperRide, and SWAGTRON
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2023 and 2028
• Precise estimation of the market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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