Self-Balancing Scooter Market is expected to worth USD 577.1 million by 2025, with a CAGR of 4.6% during 2019-2025
Published | 06 April 2019
According to BlueWeave Consulting, the global Self-Balancing Scooter market is anticipated to worth USD 577.1 million by 2025, with a CAGR of 4.6% during 2019-2025. The Global Self-Balancing Scooter Market is expected to grow with a significant rate during the forecast period, owing to its increasing demand in the commercial as eco-friendly & lightweight, rechargeable batteries, and noise-free.
The demand for Self-Balancing Scooter for its less expensive than any other mobility scooter coupled with its ergonomics, technology, range, and adding various modern features such as wireless charging, Wi-Fi, and Bluetooth in college premises among millennial generations will boost the Self-Balancing Scooter market in the upcoming year. Moreover, the major factor driving the market growth is the growing use of Self-Balancing Scooter in public services like useful in patrolling purposes by police in airports and streets because of its environment-friendly, noise-free, and operates on electric vehicles.
Furthermore, the growing use of a self-balancing scooter in parks, manufacturing facilities, shopping complexes, government campuses across various countries in the world will accelerate the growth of the Self-Balancing Scooter market. Additionally, growing per capita incomes among consumers, coupled with a futuristic look and are fun in the drive, will contribute to Self-Balancing Scooter market growth during the forecast period. Furthermore, the increasing inclination toward advanced electronic devices that have eco-friendly, lightweight, wireless charging, and Bluetooth are major drivers for the growth of the global Self-Balancing Scooter market in the forecast period.
Double Wheeled product type of Self-Balancing Scooter market is projected to be the leading segment of the overall market during the forecast period.
Based on Product type, the Self-Balancing Scooter market segmented into Unicycle and double wheeled. The double wheeled segment dominates the global Self-Balancing Scooter owing to growing its application in the commercial sector, government offices, and manufacturing facilities for its high performance, high flexibility, and lightweight. Unicycle wheeled market will influence by its demand in the residential sector and college premise for its features like faster speed and larger wheel size.
Commercial Use segment is projected to lead the industry for utilizing the applications of the Self-Balancing Scooter during the forecast period.
Based on the End-User industry, the global Self-Balancing Scooter market segmented into Personal use and Commercial use. By End-User Industry, Commercial Use will lead the market owing to the growing adoption of Self-Balancing Scooter in shopping complexes, manufacturing facilities, and government services for patrolling in various segments. The residential sector will grow by the increment in disposable income coupled with eco-friendly features and recharging features of the self-Balancing scooter.
Europe accounts for the lion’s share of the global Self-Balancing Scooter market during the anticipated period.
Based on region, the Self-Balancing Scooter market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe dominates the world Self-Balancing Scooter market over the forecast period owing to high industrialization coupled with increment in disposable incomes and growing need of self-balancing scooter in the commercial sector. North America market will propel by the presence of major companies coupled with high disposable incomes and huge adoption of applications in the commercial and residential sectors.
Global Self-Balancing Scooter Market Competitive Landscape
Companies such as Hangzhou Chic Intelligent Technology Co., Ltd., Ninebot Inc., Shenzhen Counterbalance Technology Co., Ltd., Inventist, Inc., Segway, Inc., Koogo Technology Inc., Freego Inc., Oxboard B.V., Robstep GB, IPS Electric Unicycle Co., Limited, Evoy Technologies LLC, Razor USA LLC, Sky Walkers USA, RioRand Advanced Technology, ESWING, Airwheel, Esway, Solowheel, Evoy Technologies, and Shenzhen Iezway Technology are the key players for Manufacturing of Self-Balancing Scooter.
Browse Detailed Analysis with TOC, “Global Self-Balancing Scooter Market Size, by Product Type (unicycle and double wheeled), by End-Use Industry (Personal use and Commercial use), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2019-2025”
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