Self-Balancing Scooter Market Growth, Top Players, and Forecast by 2031

The self-balancing scooter market is expected to register a CAGR of 6.4% during 2023–2031. The evolution of advanced technologies and growing electrification in the automotive sector is likely to remain a key trend in the market.

Self-Balancing Scooter Market Analysis

• In urban cities, e-vehicles are becoming more and more common, allowing people to travel short distances affordably and swiftly, which is anticipated to have a positive impact on the self-balancing scooter market globally.
• The growing environmental concerns and reducing carbon emission levels for the automotive sector are boosting the demand for the self-balancing scooter market globally.

Self-Balancing Scooter Market Overview

• The adoption of scooters, specifically e-scooters, is predicted to be driven by the rising demand for fuel-efficient vehicles as well as growing concerns over carbon emissions and greenhouse gas emissions over the forecast period.
• The market for scooters is being driven by strict government emission regulations, such as emission standards for greenhouse gas (GHG) emissions by developed and developing countries.
• Scooters are becoming more popular among consumers due to they are quieter, require less maintenance, and have a higher mechanical efficiency than their conventional counterparts.
• Additionally, the market for scooters is growing due to the fleet's inclusion in the shared mobility and vehicle rental ecosystems.

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Self-Balancing Scooter Market: Strategic Insights

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Self-Balancing Scooter Market Drivers and Opportunities

Supporting Government Policies for the Adoption of Electric Scooters to Favor the Market

• The growing government focus on mitigating carbon emissions from the automotive sector is anticipated to drive the demand for the self-balancing scooter market at the global level.
• Governments of China, the US, and India have several policies and incentives that primarily boost the sales of electric scooters.

Customer Preference Toward Cost-Effective and Eco-Friendly Transportation Mode 

• Urbanization, rising disposable income in developing markets, and technological advancements and performance are driving a significant shift in the automotive industry's growth.
• Commuters are choosing private transportation, such as motorbikes, over public transportation due to growing concerns about environmental preservation.
•  Thus, the market for electric scooters is being driven by customer preference for environmentally friendly forms of transportation.

Self-Balancing Scooter Market Report Segmentation Analysis

Key segments that contributed to the derivation of the self-balancing scooter market analysis are product type and end user.

• Based on the product type, the self-balancing scooter market is divided into single-wheeled and double-wheeled.
• Based on end user, the self-balancing scooter market is divided into personal use and commercial use.  

Self-Balancing Scooter Market Share Analysis by Geography

• The self-balancing scooter market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering self-balancing scooter market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the self-balancing scooter market in these regions.

Self-Balancing Scooter Market Regional Insights

The regional trends and factors influencing the Self-Balancing Scooter Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Self-Balancing Scooter Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Self-Balancing Scooter Market Report Scope

Self-Balancing Scooter Market Players Density: Understanding Its Impact on Business Dynamics

The Self-Balancing Scooter Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Self-Balancing Scooter Market are:

1. Afikim Electric Vehicles
2. Amigo Mobility International, Inc.
3. Golden Technologies
4. Hoveround Corporation
5. Zhejiang Luyuan Electric Vehicle Co Ltd
6. Niu Technologies

Disclaimer: The companies listed above are not ranked in any particular order.

Self-Balancing Scooter Market News and Recent Developments

The self-balancing scooter market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the self-balancing scooter market are listed below:

• Hero Electric announced it has entered into a long-term partnership with Maxwell Energy Systems for the supply of advanced battery management systems. Under the partnership, Maxwell will supply more than 10 lakh units of its battery management systems (BMS) over the next three years to Hero Electric. (Source: Heroelectric, Press Release, January 2023)
• Honda Motorcycle & Scooter India (HMSI) announced its Electric Vehicle roadmap, aimed at creating a healthy and sustainable EV market in India. The road map is a blueprint for developing EV business Structure in India, which includes new EV technologies and infrastructure. The company also announced its Future Business Direction for expansion of overseas business and production capacity in the upcoming financial year. (Source: Honda, Press Release, March 2023)

Self-Balancing Scooter Market Report Coverage and Deliverables

The “Self-Balancing Scooter Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Self-balancing scooter market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Self-balancing scooter market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Self-balancing scooter market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the self-balancing scooter market
• Detailed company profiles