Electric Unicycle Market Scope
The electric unicycle refers to the self-balancing transporter with a single wheel. Electric unicycle market has high growth prospects owing to increasing population among millennials. Further, increasing demand from developing economies and technological advancement in electric bicycles propelling market growth. In addition, changing lifestyle standard fueled by rise in disposable income in the developing countries expected to drive the demand for electric unicycle market over the forecasted period
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Segway (United States), Airwheel (China), KingSong (China), Shenzhen Counterbalance Technology Co. Ltd (China), Solowheel (United States), Rockwheel (Germany), Firewheel (China), ESWAY (China) and Inmotion (United States) |
CAGR | % |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that China Vendors will contribute to the maximum growth of Global Electric Unicycle market throughout the predicted period.
Segway (United States), Airwheel (China), KingSong (China), Shenzhen Counterbalance Technology Co. Ltd (China), Solowheel (United States), Rockwheel (Germany), Firewheel (China), ESWAY (China) and Inmotion (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are KingSong HQ (China) and Fosjoas (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electric Unicycle market by Type , by Application (Entertainment, Transportation and Others) and Region with country level break-up.
On the basis of geography, the market of Electric Unicycle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
“Regulations for electric unicycle differ from region to region. For instance, in September 2015 authorities in Finland recommended that personal transporters should be made legal for use on roads, making a distinction between devices with a maximum speed of 15 km/h (9.3 mph) which would be treated as pedestrians and ones with a maximum speed of 25 km/h (16 mph) which would be treated as bicycles. Moreover, in Germany self-balancing, hoverboards are not allowed on public streets. Because it is considered as a type of motor vehicle the rider would need a test certificate from the Technical Inspection Agency to get an insurance.”
Influencing Trend:
Increasing Adoption for the Transportation Purpose and Technological Advancement in the Electric Unicycle
Market Growth Drivers:
Rising Popularity of Electric Unicycle among Millennials and Changing Lifestyle Standard Fueled By Rise in Disposable Income
Challenges:
Lack of Awareness in the Low and Middle-Income Countries
Restraints:
High Cost Associated With Electric Unicycle and Issues Related With Battery Life of the Electric Unicycle
Opportunities:
Increasing Demand for the Eco-friendly Transportation Medium and Growing Demand from the Developing Economies
Key Target Audience
Electric Unicycle Manufacturers, Electric Unicycle Distributors, Potential Investors, Technology Providers, Associations, Organizations, Forums, and Alliances, Government Bodies and Departments, Research Institutes, Business Consulting Firms and Others