Portland, OR, Jan. 18, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global unicycle electric scooter market was $ 110.2 million in 2019 and is projected to reach $ 146.7 million by 2027. Growth with a CAGR of 5.0% from 2020 to 2027.
The increase in green mobility, increasing urbanization, local commuting requirements and falling prices for batteries per KWH have fueled the growth of the global unicycle electric scooter market. In addition, high portability compared to personal electric vehicles complemented the market growth. However, the safety compared to available commuter alternatives and the uncomfortable driving experience due to the design structure are hampering market growth. On the contrary, a strong dealer and supplier network as well as continuous product developments will open up lucrative opportunities for market participants in the future.
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- Governments of several countries have mandated the temporary lockdown of various industries. The ongoing lockdown had a negative impact on production and sales activities. It also disrupted the supply chain and resulted in a shortage of raw materials.
- Demand for single-wheel electric scooters has declined during the Covid-19 pandemic as the government imposed restrictions on commuting to limit the spread of infections.
- However, it is expected that demand will increase through Q1 2021 due to increasing end-user health concerns and increasing demands for personal commuting solutions to meet social distancing standards.
Get a detailed COVID-19 impact analysis on the market inquiry for unicycle electric scooters here!
Worldwide Unicycle Electric Scooter Market is segmented by the product type, application, sales channel, speed limit, and region. Based on product type, the electric unicycles segment is expected to experience the highest CAGR of 5.1% over the forecast period. However, the segment held the largest share in 2019, accounting for nearly 90% of total sales in the market.
Based on the application, the Offroad Activities segment is expected to have the highest CAGR of 5.5% over the forecast period. In addition, the segment held the lion’s share in 2019, contributing more than two-thirds of the market.
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The worldwide unicycle electric scooter market is analyzed in various regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific market is expected to have the highest CAGR of 6.6% over the forecast period. However, the North American market had the largest market share in 2019 with a market share of more than a third.
Worldwide One Wheel Electric Scooter Market report has an in-depth analysis of the major players in the market including INMOTION Technologies Co., Ltd., F-WHEEL, Dongguan Begode Intelligent Technology Co. Ltd., Ninebot Limited, and Guangzhou Veteran Intelligent Technology Ltd. , King Song Intell Co., Ltd., Future Motion Inc., SWAGTRON, IPS Electric Unicycle and SuperRide.
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