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Self-balancing Mobility Market (Type - Single Wheeled, and Double Wheeled; Mobility Type - Scooter, Bikes, Hoverboards, and Others; Components - Electric Motor, Digital Sensors, Gryroscope, and Control Board; End Use - Personal, and Commercial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : March, 2022

  • Rep Id : AT00247

  • Category : Automotive, Aerospace & Defence

  • Status : Published

A recent report published by Infinium Global Research on the self-balancing mobility market provides in-depth analysis of segments and sub-segments in the global as well as regional self-balancing mobility market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional self-balancing mobility market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global self-balancing mobility market. According to the report, the global self-balancing mobility market is projected to grow at a CAGR of 21.66% over the forecast period of 2021-2027.

 

Market Insight

The revenue generated by the market was approximately USD 1518.2 million in 2020 and is expected to reach approximately USD 5924.9 million in 2027. Self-balancing mobility can be defined as a single-person self-balancing transporter with a two-or one-wheeled platforms. It steers via a self-balancing gyroscopic mechanism that changes directions based on which way the rider leans, unlike conventional vehicles. Digital sensors and one or two electric motors are used in this novel and increasingly popular mode of urban mobility. The wheel is regarded as one of the greatest ground-breaking technologies in human history. When we see self-balancing motorized mobility vehicles now, we feel like we're in the future. They're small, easy to use, and agile, and the tilt-to-control function is really sensitive. These self-balancing mobility solutions are fast gaining popularity among young consumers as they offer easy mobility and are increasingly becoming part of the fashionable lifestyle of young consumers.

 

According to Our World In Data organization, approximately 7 billion people are expected to be living in urban areas, and according to the World Bank, over 56% of the total world population was living in urban areas in 2020. The strong growth in per capita income and the standard of living of people in urban areas has made self-balancing mobility both desirable and affordable. The demand for self-balancing mobility is growing among people living in urban areas. These self-balancing mobility solutions are preferred in closed urban environments such as commercial spaces, educational and research institutions, housing societies, and others. The other factor driving the growth of the market is the growing awareness of the environmental benefits of self-balancing mobility. Self-balancing vehicle types such as hoverboards and scooters are powered by batteries and run on an electric motor. Hence, the carbon emissions are zero. They are being eyed as an environmentally sustainable personal transport solution, and their popularity has rapidly soared among consumers due to their low prices and eco-friendly nature. The growth of the market may be restrained as the batteries powering self-balancing mobility solutions have a limited range and need to be changed frequently. Nevertheless, new growth opportunities are emerging as R & D of autonomous self-balancing mobility solutions is going on in full swing.

 

North America is expected to dominate the market over the forecast period. North America is the top product consumer in the market. The region is the top destination for manufacturers from around the world to sell their self-balancing mobility products. The high demand for self-balancing mobility products is due to a number of factors. North America has an advanced urban infrastructure where self-balancing mobility solutions can be easily used. Another factor is the supporting infrastructure, such as charging points, that is being created on a large scale. High spending power due to high disposable income and a high standard of living are the factors that are also supporting the growth of the market in the region. Along with personal self-balancing mobility products, the demand for commercial self-balancing mobility solutions is growing strongly as global corporate houses and educational institutions are adopting these eco-friendly mobility solutions. Also, the supply chain and distribution network are strong because the market is strong in North America. Asia-Pacific is expected to grow at the fastest pace as the region is one of the major manufacturers in the market.

 

Segment Covered

The report on the global self-balancing mobility market covers segments such as type, mobility type, components, and end use. On the basis of type, the sub-markets include single wheeled, and double wheeled. On the basis of mobility type, the sub-markets include scooter, bikes, hoverboards, and others. On the basis of components, the sub-markets include electric motor, digital sensors, gryroscope, and control board. On the basis of end use, the sub-markets include personal, and commercial.

 

Self-balancing Mobility Market


Companies Profiled:

The report provides profiles of the companies in the market such as Inventist, Inc., Segway, Inc., Airwheel Holding Limited, Ninebot Inc., Hangzhou Halsun Technology Co., Ltd., IPS Electric Unicycle Co., Limited, HoverRobotix, Freego  High-Tech  Corporation Limited, Oxboard B.V., and Inmotion Technologies Co., Ltd..

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the self-balancing mobility market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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