One Wheel Electric Scooter Market Size, Share, Price 2030

Industry Prospective:

The global one wheel electric scooter market size was worth around USD 168.6 Million in 2022 and is predicted to grow to around USD 323.8 Million by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2023 and 2030. The report analyzes the global one wheel electric scooter market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the one wheel electric scooter industry.

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One Wheel Electric Scooter Market: Overview

A one-wheel electric scooter is a type of unicycle that is an electric vehicle comprised of gyroscopes, sensors, and accelerometers in combination with an electric motor to support a rider with balancing on a single-wheeled scooter. These types of vehicles are designed for drivers that are capable of commanding the motors to balance the vehicle according to the driver’s moment. The one-wheel electric scooter is a personal vehicle that mainly runs on electric energy. Over the last decade, green energy initiatives have fueled the innovative ideas of pollution-free vehicles. Currently, the use of a one-wheel electric scooter is limited to developed countries owing to the limitation of technologies and the cost of the product.

Key Insights

• As per the analysis shared by our research analyst, the global one wheel electric scooter market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2023-2030).
• In terms of revenue, the global one wheel electric scooter market size was valued at around USD 168.6 million in 2022 and is projected to reach USD 323.8 million, by 2030.
• The growing disposable income and the growing recreational activities are expected to drive one wheel electric scooter market growth over the forecast period.
• Based on the product type, the electric unicyle segment is expected to dominate the market over the forecast period.
• Based on the application, the offroad segment is expected to capture a significant market share over the forecast period.
• Based on the sales channel, offline sales are expected to dominate the market over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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One Wheel Electric Scooter Market: Growth Drivers

Increasing preference for green mobility drives the market growth

The mobility landscape has changed dramatically over the years as electrically powered vehicles with cutting-edge technology replaced traditional modes of transportation. Electric-driven mobility essentially offers three advantages, including economic, environmental, and technical, to achieve the finest option for electric transportation. Electric scooters with one wheel are a common form of personal transportation in cities since they leave no carbon impact and are more affordable than other options. Rising environmental awareness and a preference for e-mobility are predicted to support the expansion of the global one-wheel electric scooters market throughout the projected period.   

One Wheel Electric Scooter Market: Restraints

Injuries due to hoverboards hinder the market growth                                                        

Long-distance commuting is not a frequent usage for hoverboards, which could restrict the one wheel electric scooter market expansion. They are not ideal for everyone and are also challenging to balance. Over 27,000 individuals have been injured by hoverboards globally, according to current figures. The most frequent injuries among them were fractures (40%) and contusions (17%), followed by strains and/or sprains (13%). Thus, this is expected to hamper the market expansion over the forecast period.

One Wheel Electric Scooter Market: Opportunities

Strong dealership and supplier network creates immense opportunity for the market growth

To sell their goods and act as the local experts and faces for their brands, the majority of one wheel electric scooter industry participants rely on distributor or dealer networks. Customers are personally connected to dealers and distributors, encouraging repeat business and ultimately increasing sales. Selling one wheel electric scooters directly to end users can seem like a reasonable way to boost earnings while lowering administrative and operating expenses. Additionally, North America and Europe are their primary markets, and the majority of producers are headquartered in China.

Direct entry into these markets necessitates increased working capital requirements as well as office and production facility capital investments. A business can expand the market for its products while lowering operating and capital expenses and giving distributors ready-made products by establishing a network of distributors. Market participants including F-wheel, Ninebot, and other companies are growing their dealership networks to increase the reach of their products and operational efficiency. To acquire high revenue prospects and reduce capital expenses, market participants must build a powerful distribution network. Thus, these factors provide immense opportunity for market growth over the forecast period.

One Wheel Electric Scooter Market: Challenges

Stringent regulations pose a major challenge

The Onewheel self-balancing electric skateboards from Future Motion carry a danger of death and serious injury, according to the U.S. Consumer Product Safety Commission (CPSC). All Onewheel models, including the Onewheel, Onewheel+, Onewheel+ XR, Onewheel Pint, Onewheel Pint X, and Onewheel GT, are strongly discouraged by the CPSC. A serious injury or death to the rider could result from being ejected from the Onewheel devices, according to the CPSC's evaluation of those items.  Between 2019 and 2021, there have been at least four recorded fatalities and numerous instances of serious injuries as a result of the product's failure to balance the rider or stop unexpectedly while in motion.  The recorded fatalities were caused by head injuries. Thus, this is expected to pose a major challenge for the one wheel electric scooter market growth over the forecast period.

One Wheel Electric Scooter Market: Segmentation

The global one wheel electric scooter industry is segmented based on product type, application, sales channel, and region.

Based on the product type, the global market is bifurcated into electric unicyle and electric one wheel hoverboards. The electric unicyle segment is expected to dominate the market over the forecast period. Due to their level of comfort, unicycles are the most frequently used means of personal transportation. A single charge allows for smooth transportation across the city for at least 10 kilometers. It provides great ease and is one of the most cost-effective ways for individuals to commute locally. Thus, this is expected to drive segment growth.

Based on the application, the global one wheel electric scooter industry is bifurcated into off-road activities and daily commutes. The offroad segment is expected to capture a significant market share over the forecast period. The segment growth is attributable to the growing recreational activities in regions like North America and Europe.

Based on the sales channel, the market is divided into online sales and offline sales. Offline sales are expected to dominate the market over the forecast period. The segment growth is owing to the customer's convenience to buy products personally rather than shopping from other sources. Besides, online sales are expected to grow at the highest CAGR owing to the increasing e-commerce business across the globe.

Recent Developments:

• In January 2021, an annual competition known as the CES Innovation Awards recognizes exceptional engineering and design in consumer technology devices. Global innovation is on display, cutting-edge technologies are presented, the most pressing challenges facing the sector are addressed, and the direction of the IT sector is defined by the biggest brands in the world. The Segway eScooter T, Ninebot S Nano, Segway eMoped B, and Ninebot Gokart PRO are the four products that Segway-Ninebot is pleased to announce as honorees in the Sustainability, Eco-Design, & Smart Energy category.

One Wheel Electric Scooter Market: Report Scope

One Wheel Electric Scooter Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the global one wheel electric scooter market during the forecast period. The region's growth is attributed to the rising popularity of hoverboards among kids and teenagers as a recreational activity as well as the expanding use of one-wheel electric scooters for personal transportation. The majority of one-wheel electric scooter manufacturers are based in the United States, which is why it leads this regional market.

The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The increased purchasing power of the middle class and the commoditization-induced decline in production costs are credited with driving the region's growth. China is a big manufacturer of affordable hoverboards and unicycles, and it is anticipated that it will continue to hold a monopoly in the Asia Pacific region. Additionally, it is anticipated that increased production of technologically advanced unicycles and hoverboards will support market expansion. Additionally, a growing number of micromobility firms in India are developing mobility solutions to deal with poor road infrastructure, jam-packed roads, and rising air pollution. resulting in the region's market growth.

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Europe is expected to hold a significant market share over the forecast period. Many prospects for expansion will arise from the expanding one-wheel electric scooter market, expanding e-commerce sector, and expanding use of technology in personal transportation in Europe. Growing investments and acquisitions in businesses focused on micromobility, as well as a growing emphasis on a quick, affordable, and environmentally responsible commute, are all projected to fuel market expansion in the region.  

One Wheel Electric Scooter Market: Competitive Analysis

The global one wheel electric scooter market is dominated by players like:

• OneWheel
• Ryno Motors
• E-RIDERZ PTY LTD
• 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 and Swagtron among others.

The global one wheel electric scooter market is segmented as follows:

By Product Type

• Electric Unicyle
• Electric One Wheel Hoverboard

By Application

• Off-road Activities
• Daily Commute

By Sales Channel

• Online Sales
• Offline Sales

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa