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There are dynamic forces that affect the growth and development of the personal transporter market, a burgeoning sector within the mobility industry. Technological innovation remains one of the most important driving factors in the personal transporter market. Personal transport manufacturers keep on investing in R&D to help them improve their safety features, performance, and design aesthetics. Changing urban mobility patterns greatly influence dynamics in the personal transporter market. Personal transportation has become an alternative to short-distance travel due to increased urbanization, traffic congestion, and the need for sustainable transportation solutions. The adoption of electric scooters and other compact personal transporters is fueled by the growing trend of last-mile connectivity so that people can easily move around urban areas. The market supplies various kinds of adaptable or customizable personal transporter alternatives suited for different urban lifestyles following these changed mobility patterns.
Regulatory developments play a crucial role in shaping the dynamics of the personal transporter market. Several cities and countries have adopted or are considering regulations and guidelines for managing the use of such devices on public roads or sidewalks. Manufacturers must meet safety standards, limits on speeds, and parking regulations, among other buyer considerations. The general shift toward sustainable transportation is a primary factor that influences changes in personal transporters' market dynamics. Electric types have become popular choices among eco-friendly-minded people who want to reduce carbon footprints as they move from one place to another, as well as share environmentally friendly modes such as bicycles with friends while still using fossil fuel vehicles where necessary. The demand for energy-efficient and pollution-free modes of conveyance drives the marketplace; hence, manufacturers strive to innovate batteries in this direction.
Consumer preferences and lifestyle choices contribute to the dynamic nature of the personal transporter market. As people look for convenient ways that offer value for money while being flexible enough, there will be more individuals who will choose this method over others when making local commutes. In conclusion, technological innovation combined with changing urban mobility patterns, regulatory developments, and a shift towards sustainability, consumer preferences make up the personal transporter market. Companies in this industry need to be relevant to the new generation of urban dwellers who require transportation choices that are not only energy- and time-efficient but also reduce pollution levels. The personal transporter market is likely to experience increased integration of smart technologies, ongoing innovation, and adaptation to the changing landscape of urban transportation as the world continues prioritizing sustainable and smart mobility solutions.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 53.38 Billion |
| Growth Rate | 7.40% (2024-2032) |
Personal Transporter Market Highlights:
Personal Transporter Market Overview
Global Personal Transporter Market Size was valued at USD 53.38 Billion in 2023. The Personal Transporter market industry is projected to grow from USD 57.92 Billion in 2024 to USD 102.52 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2024 - 2032). Growing urbanization, environmental impact awareness, battery technology advances, and technological advancements, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Personal Transporter Market Trends
Options for last-minute connectivity and changing consumer preferences is driving the market growth
In recent years, the personal transporter market has grown significantly, propelled by a variety of factors including changing consumer demands. Personal transporters have become practical and space-saving options for short-distance travel in metropolitan areas as a result of the high pace of urbanisation and the subsequent congestion on roads. The increased demand for environmentally friendly transport options and the growing awareness of environmental effect both promote this trend. The personal transporter market has grown significantly as a result of advancements in battery technology. The efficiency and range of electric-powered personal transporters have substantially increased thanks to the development of high-performance and lightweight batteries like lithium-ion batteries. Due to these developments, electric solutions are now more practical and appealing to consumers because they have no emissions and help to reduce air pollution.
Government programmes and incentives have additionally fueled market expansion. Around the world, numerous countries have put rules into place to encourage the use of electric vehicles and environmentally friendly transportation. This programmer supports personal transporter by offering subsidies, tax breaks, and the construction of charging infrastructure. Personal transporters have changed due to technological improvements, becoming more appealing and convenient. These cars now have more value thanks to improved motor efficiency, more safety measures, and the incorporation of smart technology like Smartphone connectivity and GPS monitoring. Personal transporters meet the needs of consumers who are increasingly looking for alternate modes of transportation that provide convenience, flexibility, and individuality.
Personal transporters connect final destinations and public transport hubs with effective last-mile connection solutions. They provide a practical means of travelling short distances without using larger vehicles, cutting down on travel time and increasing overall effectiveness. In addition to the advantages already mentioned, personal carriers are less expensive than conventional automobiles. Since they use less energy and are less dependent on fossil fuels, electric-powered solutions are typically less expensive to buy and operate. They also have lower operating costs. Thus, driving the Personal Transporter market revenue.
Personal Transporter Market Segment Insights:
Personal Transporter Vehicle Type Insights
The global Personal Transporter market segmentation, based on Vehicle Type includes E-bike, E-Scooter, Ehoverboard, E-skateboard and others. The e-scooter segment dominated the market, accounting for 40.45% of market revenue. Increase in demand as due to of their suitability for short-distance travel in congested urban situations, which makes them typically lightweight, compact, and easy to manoeuvre.
Figure 1: Global Personal Transporter Market, by Vehicle Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Personal Transporter Product Insights
The global Personal Transporter market segmentation, based on Product, includes Retro, Standing/Self-balancing and Folding. The standing/self-balancing category generated the most income (43.25%). The popularity of standing/self-balancing transporters has grown significantly as a result of its simple operation, adaptability, and suitability for local travel.
Personal Transporter Weight Capacity Insights
The global Personal Transporter market segmentation, based on Weight Capacity includes up to 10 kg, 10 kg-20kg and More than 20 kg. The up to 10 kg segment dominated the market, accounting for 47.25% of market revenue. They often provide practical mobility options for metropolitan regions or last-mile connectivity and are acceptable for users of different age groups.
Personal Transporter Travel Range Insights
The global Personal Transporter market segmentation, based on Travel Range includes Up to 20 km, 20 km35km and More than 35 km. The up to 20 km segment dominated the market, accounting for 57.42% of market revenue. They provide consumers with a practical and environmentally beneficial substitute for conventional means of travel and are appropriate for last-mile connectivity or urban commuting.
Personal Transporter Application Insights
The global Personal Transporter market segmentation, based on Application includes On-Road and Off-Road. The on-road segment dominated the market, accounting for 67.54% of market revenue. On-road personal transporters' dominance can be linked to their extensive use in metropolitan areas and capacity to meet the demands of frequent commuting and local travellers.
Personal Transporter Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific Personal Transporter Market dominated this market in 2022 (45.80%). The necessity for effective transit strategies and rising urbanisation will boost market growth in this region. Further, China’s Personal Transporter market held the largest market share, and the Indian Personal Transporter market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL PERSONAL TRANSPORTER MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Personal Transporter market accounts for the second-largest market share. Environmental awareness, traffic congestion, and the presence of well-known tech enterprises in the area are some of the factors driving the industry. Further, the U.S. Personal Transporter market held the largest market share, and the Canada Armor Materials market was the fastest growing market in the North America region.
The Europe Personal Transporter Market is expected to grow at the fastest CAGR from 2024 to 2032. Strict pollution laws and government subsidies for electric cars have also helped this sector expand in Europe. Further, the German Personal Transporter market held the largest market share, and the UK Personal Transporter market was the fastest growing market in the European region.
Personal Transporter Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Personal Transporter market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Personal Transporter industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Personal Transporter industry to benefit clients and increase the market sector. In recent years, the Personal Transporter industry has offered some of the most significant advantages to medicine. Major players in the Personal Transporter market, including INMOTION TECHNOLOGIES CO. LTD. (China), Segway Inc. (US), Honda Motor Co. Ltd. (Japan), Inventist Inc. (US), Airwheel Holding Limited (China), T3 Motion Inc. (US), Onewheel (US), BOXX Corp. (US), RazorUSA LLC (US), Hangzhou CHIC Intelligent Technology Co. Ltd. (China) and others, are attempting to increase market demand by investing in research and development operations.
Honda Motor Co. Ltd., headquartered in Tokyo, Japan, has made significant contributions to the personal transporter market. While Honda is best known for its cars and motorcycles, it has also made a name for itself in the electric scooter and electric bicycle industries. Honda's entry into the personal transporter market is in line with its dedication to sustainable mobility and tackling the problems associated with urban transportation. Honda's electric scooters, like the Honda PCX Electric and Honda Benly e:, have won praise for their effectiveness, dependability, and environmental friendliness. These scooters have electric drivetrains that provide emission-free operation, making them a green option for commuting in cities. Due to Honda's experience in both car engineering and manufacture, its electric scooters are of the highest calibre. Honda has entered the market for electric bicycles in addition to electric scooters. Their pedal-assist technology and electric power combine in their electric bicycles, like the Honda e-Bike and Honda Step Compo, to give riders a smooth and comfortable ride. These bicycles incorporate Honda's emphasis on innovation, design, and dependability and are made for both urban mobility and leisure riding. Honda has also taken a leading role in research and development projects to promote electric mobility.
INMOTION Technologies Co. Ltd. is an industry leader in the design, development, and production of personal transporters. INMOTION has established a name for itself in the international market for its cutting-edge electric vehicles with a focus on creative mobility solutions. A wide variety of personal transporters, including electric scooters, electric unicycles, and electric bicycles, are available from INMOTION. The company's products are renowned for their modern aesthetics, cutting-edge technology, and superior functionality. The INMOTION L9 and INMOTION V11 electric scooters, for example, have characteristics like long-range capability, smart connection, and durable suspension systems for improved riding comfort. Both metropolitan commuters and recreational riders can use these scooters. Models like the INMOTION V10 and INMOTION V12 have helped INMOTION forge a significant foothold in the electric unicycle market. These self-balancing electric unicycles are well-liked by enthusiasts and daring riders because of their amazing agility, stability, and user-friendly controls.
Key Companies in the Personal Transporter market include
- INMOTION TECHNOLOGIES CO. LTD. (China) ,
- Segway Inc. (US),
- Honda Motor Co. Ltd. (Japan),
- Inventist Inc. (US),
- Airwheel Holding Limited (China),
- T3 Motion Inc. (US),
- Onewheel (US),
- BOXX Corp. (US),
- RazorUSA LLC (US),
- Hangzhou CHIC Intelligent Technology Co. Ltd. (China)
Personal Transporter Industry Developments
2021The INMOTION V12, an electric unicycle featuring a potent engine, cutting-edge suspension system, and clever connection capabilities, was introduced by INMOTION Technologies.
2020The Razor E-XR Electric Scooter was introduced by Razor. It has pneumatic tyres for a comfortable ride and an extended range capability of up to 25 kilometres
Personal Transporter Market Segmentation
Personal Transporter Vehicle Type Outlook
- E-bike
- E-Scooter
- Ehoverboard
- E-skateboard
- others
Personal Transporter Product Outlook
- Retro
- Standing/Self-balancing
- Folding
Personal Transporter Weight Capacity Outlook
- Up to 10 kg
- 10 kg-20kg
- More than 20 kg
Personal Transporter Travel Range Outlook
- Up to 20 km
- 20 km35km
- More than 35 km
Personal Transporter Application Outlook
- On-Road
- Off-Road
Personal Transporter Regional Outlook
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
- Middle East
- Africa
- Latin America
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