Global Self Balancing Scooter market was valued at USD 1.7 Billion in 2022. The Self Balancing Scooter Market industry is projected to grow from USD 2.0 Billion in 2023 to USD 10.56 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.50% during the forecast period (2023 - 2032). Factors such as rapid urbanization & local commute requirements, inclination toward the use of electric mobility as an eco-friendly & efficient solution, and high portability as compared to other personal electric vehicles are expected to be significant market drivers for the Self Balancing Scooter Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Self Balancing Scooter is being driven by the increasing demand for modern and advanced electronic mobility solutions, coupled with a growing reliance on innovative and eco-friendly personal transportation devices. The Self-Balancing Scooter, also known as a hoverboard, is an electric, two-wheeled, portable device powered by a battery-operated mechanism driving a motor, enabling movement in various directions. In 2019, the number of rides taken by Americans via dockless scooters, bikes, and traditional bike-share systems was 136 million.
In 2018, the number of rides stood at 84 million. In 2020, China spent a hefty amount of 2.4 billion on the charging facility infrastructure in the country, distributing hopes of immense growth for E-Scooter companies. These devices function similarly to powered skateboards, featuring a platform for the rider between two wheels, powered by large lithium-ion batteries. The global Self-Balancing Scooter market is poised for growth, driven by the increasing adoption of modern electronic devices and a rising reliance on mobility solutions.
Key factors contributing to market expansion include low power consumption, minimal maintenance costs, and their role as an alternative to walking and conventional electric scooters. Moreover, the market is expected to witness accelerated growth due to the rising popularity of Self-Balancing Scooters for entertainment and commuting purposes in various settings such as college campuses, entertainment parks, and organized events. The application of these devices extends to security and law enforcement, providing an efficient means for patrolling public areas where traditional automobiles may not be practical.
Additionally, the adoption of Self-Balancing Scooters is growing in office and college campuses, driven by their environmentally friendly and noise-free characteristics, operating on electricity. Advanced features such as wireless charging and Bluetooth connectivity, coupled with the increasing preference for sophisticated electronic devices, present growth opportunities, particularly in green zone locations like college campuses. The market is poised for expansion in the foreseeable future, propelled by the multifaceted applications and advanced features of Self-Balancing Scooters. As a result, it is anticipated that throughout the projection period, demand for the Self-Balancing Scooter Market will increase due to the increasing demand for modern and advanced electronic mobility solutions, coupled with a growing reliance on innovative and eco-friendly personal transportation devices. Thus, driving the Self-Balancing Scooter Market revenue.
The global Self-Balancing Scooter Market segmentation, based on Product Type includes Single-Wheeled And Double-Wheeled. The double-wheeled segment dominated the market, accounting for 58% of market revenue (0.98 Billion). The design of double-wheeled self-balancing scooters is widely recognized for its user-friendly attributes. Riders can swiftly acquire the skills needed for balancing and maneuvering on these scooters, expanding accessibility to a diverse consumer base, including those who may find traditional transportation methods challenging.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Self Balancing Scooter Market End Use Industries Insights
The global Self-Balancing Scooter Market segmentation, based on end-use industries includes Personal use and Commercial use. The commercial use segment dominated the market, accounting for 58% of market revenue (0.98 Billion). Within the tourism and hospitality sector, self-balancing scooters serve as valuable tools for guided tours and improving staff mobility in extensive properties like resorts, amusement parks, and convention centers. Leveraging their compact design and maneuverability, these scooters offer practical solutions for navigating busy and crowded spaces, contributing to enhanced operational efficiency in the business environment.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Self-Balancing Scooter market in North America can be attributed to several key factors. The ongoing trend of urbanization in North America, characterized by a growing population residing and working in urban environments, is generating a heightened demand for compact and efficient personal transportation solutions. As of 2021, 83% of the U.S. population is situated in urban areas, a significant increase from 64% in 1950. Projections indicate that by 2050, 89% of the U.S. population and 68% of the global population will inhabit urban areas. Notably, over 325 urban areas in the U.S. boast populations exceeding 100,000, with New York City, housing 8.47 million inhabitants, being the largest. In this context, self-balancing scooters align seamlessly with this urbanization trend, offering a portable and user-friendly mode of personal transportation.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's balancing Scooter Market accounts for the second-largest market share as the growing prevalence of micro-mobility services, encompassing electric scooters and bikes, signifies a notable transition toward adaptable and sustainable transportation solutions. According to the latest data report from Micro-Mobility for Europe (MMfE), which considers over 350 million e-scooter trips covering 640 million kilometers and 28 million e-bike journeys spanning 75 million kilometers, there is a substantial uptake in these services. European cities are progressively endorsing and integrating these offerings, thereby playing a pivotal role in the overall expansion of the market. Further, the German Self-Balancing Scooter Market held the largest market share, and the UK Self-Balancing Scooter Market was the fastest-growing market in the European region
The Asia-Pacific Self Balancing Scooter Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific region boasts a substantial and youthful population known for being early adopters of cutting-edge technologies. With over 600 million individuals aged 15-24, their pivotal role in the region's productivity and inclusive development is evident. According to a report from the Ministry of Health and Family Affairs, Government of India, the youth (aged 15–29 years) constituted 27.2% of the country's overall population in 2021, expected to decline to 22.7% by 2036 while still comprising around 345 million. The attractive appeal of self-balancing scooters as a chic and forward-looking mode of transportation is likely to resonate particularly well with this dynamic and tech-savvy demographic. Moreover, China’s Self-Balancing Scooter Market held the largest market share, and the Indian Self Balancing Scooter Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Self-Balancing Scooter 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, the balancing Scooter 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 Self Balancing Scooter industry to benefit clients and increase the market sector. In recent years, the Self Balancing Scooter industry has offered some of the most significant advantages to the global community, addressing pressing concerns related to water quality, accessibility, and public health. Major players in the Self-Balancing Scooter Market, including Kent RO limited, GE Corporation, Best Water Technology, Whirlpool Corporation, Brita, SteriPEN, General Ecology Inc., Mechanical Equipment Co., Inc., Blue Spring Corporation, SAFH20 UV, GRAYL, Inc, Vestergaard, Portable Aqua, Aquasana, Inc.., Panasonic, Amway Corporation, HaloSource Inc., Eureka Forbes Limited are attempting to increase market demand by investing in research and development operations.
ESWING TECH is committed to addressing transportation challenges related to cost, inconvenience, and carbon emissions, the focus revolves around developing energy-efficient products for environmental protection. The goal is to offer diverse electric scooter options, such as golf carts, three-wheeled models, kids' scooters, and electric bikes, tailored to various consumer needs. With two decades of experience in refining motor and battery technologies, the aim is to provide an ideal range of personal transportation devices. By adopting a direct-from-factory-to-consumer sales approach, unnecessary intermediaries and associated costs are eliminated, enabling consumers to acquire a new scooter at a cost akin to a daily coffee purchase.
Established in 2004, Airwheel operates with a global perspective and has established research and development, marketing, manufacturing, and logistics centers in key locations including the United States, Belgium, and China. Recognized as a leading manufacturer of smart transportation devices worldwide, Airwheel is dedicated to delivering the delights of technology and embodies the corporate culture of "Free Intelligent Life." With a fully integrated portable transportation industrial chain and a global brand presence, Airwheel's smart scooters and skateboards have catered to the needs of over 30 million customers across 68 countries. The foundation of Airwheel's success lies in facilitating customer freedom, providing intelligent companionship, and fostering passion and joy in life, thereby enhancing personal value. Emphasizing the role of intelligent tools in enriching lives and bridging the gap between dreams and reality, Airwheel strategically invested in areas like IOT sensors, robotics, and deep learning since 2015.
June 2018: On June 18, Airwheel Technology unveiled its latest self-balancing scooter, the S5, during the Airwheel 2015 New Products Release Conference at the Wanda Sheraton Hotel in Changzhou, China. As the third iteration in the S-series, the S5 distinguishes itself with a standing platform and an extended control shaft, differing from Airwheel's single-wheeled X series and dual-wheeled Q series.
January 2023: Mumbai-based tech start-up Liger Mobility aims to revolutionize the two-wheeler market with what it asserts is a pioneering made-in-India solution: self-balancing technology designed for the Electric Two-Wheeler segment. The company has unveiled its inaugural product, the Liger X, expected to be available for purchase at approximately Rs 90,000 after factoring in FAME subsidies upon its launch.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.7 Billion |
| Market Size 2023 | USD 2.0 Billion |
| Market Size 2032 | USD 10.56 Billion |
| Compound Annual Growth Rate (CAGR) | 22.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End Use industries, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Ninebot Inc., Inventist, Inc., IPS Electric Unicycle Co., Limited, Robstep GB, Hangzhou Chic Intelligent Technology Co., Ltd., ESWING TECH., Airwheel, Shenzhen Counterbalance Technology Co., Ltd., Esway, Solowheel, Segway, Inc., IO Hawk, Oxboard B.V., Freego Inc., Evoy Technologies, Koogo Technology Inc |
| Key Market Opportunities | Innovative products using new-age technologies such as Bluetooth and LED components. |
| Key Market Dynamics | The compact design of the self-balancing scooter has boosted sales, due to its popularity amongst younger generations. |
Self Balancing Scooter Market Highlights:
Frequently Asked Questions (FAQ) :
The global Self Balancing Scooter Market size was valued at USD 1.7 Billion in 2022.
The global Self Balancing Scooter Market is projected to grow at a CAGR of 22.50% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Ninebot Inc., Inventist, Inc., IPS Electric Unicycle Co., Limited, Robstep GB, Hangzhou Chic Intelligent Technology Co., Ltd., ESWING TECH., Airwheel, Shenzhen Counterbalance Technology Co., Ltd., Esway, Solowheel, Segway, Inc., IO Hawk, Oxboard B.V., Freego Inc., Evoy Technologies, Koogo Technology Inc
The double-wheeled segment dominated the market in 2022.
The Commercial use segment had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
