A personal transporter is also called as electric rideable or personal light electric vehicle. The personal transporter is used as motorized vehicle for transporting an individual at speeds up to 25 km/h (16 mph). Personal transporters are of various types including electric skateboards, kick scooters, self-and balancing unicycles.
The rise in the demand and sale of e-mobility vehicles, increasing adoption of automation system for personal transporter, and growing focus on enhancing the safety and efficiency of the personal transporters are expected to raise the growth of the market.
Strict regulations, lack of skilled professionals, and the high initial prices and maintenance costs associated with personal transporter is expected to hamper the market growth during the forecast period. However, increasing popularity of scaled-down electric vehicles, technological advancement in personal transporter, changing lifestyle, and the improvements in emerging economies create ample opportunities for market growth. The global Personal Transporter Market is expected to be valued at around 150 Million units by 2025 and is projected to witness ~8.5% CAGR over the forecast period.
Market Research Analysis
The global Personal Transporter Market is segmented based on vehicle type, product, wheel type, weight capacity, travel range, application, and region. Based on vehicle type, the global market is segmented into E-bike, E-Scooter, E-hoverboard, E-skateboard, and Others. On the basis of product, the global market has been segmented into retro, standing/self-balancing, and folding. On the basis of weight capacity, the global market has been segmented into up to 10 kg, 10 kg-20kg, and more than 20 kg. On the basis of travel range, the global market has been segmented into up to 20 km, 20 km-35km, and more than 35 km. On the basis of application, the global market has been segmented into on-road and off-road.
In terms of region, the global market for personal transporter is segmented as North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to dominate in terms of market share in the global Personal Transporter Market due to the presence of China, India, and other emerging economies. Furthermore, in Asia-Pacific, China is projected to grow at the highest pace during the forecast period due to the rise in disposable income, large consumer base, and developing economy. On the other hand, North America is projected to witness significant growth for the Personal Transporter Market. The growing demand for electric hoverboard and skateboard and developing product service industry in the US and Canada are expected to support the market growth during the forecast period. In North America, the US is anticipated to grow at the faster rate than Canada during the forecast period due to stable economy, advanced technology, and presence of major players such as BOXX Corp. and Segway Inc. in the US.
The Personal Transporter Market in Europe is expected to witness high growth due to the presence of many developed nations and the adoption of new technologies. The market in Europe is dominated by Germany and is projected to grow at a substantial rate during the forecast period owing to the demand for off-road personal transporter vehicles from school, malls, and hospitals. The rest of the world is comprised of the regions of the Middle East & Africa and South America. South America is an emerging region, which is incorporating technological advancements in the Personal Transporter Market at a rapid pace.
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Scope of the Report
This study provides an overview of the global Personal Transporter Market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Personal Transporter Market by vehicle type, product, weight capacity, travel range, application, and region.
The leading players operating in the global Personal Transporter Market are Hangzhou CHIC Intelligent Technology Co., Ltd. (China), Airwheel Holding Limited (China), T3 Motion, Inc. (US), Onewheel (US), BOXX Corp. (US), RazorUSA LLC (US), include INMOTION TECHNOLOGIES CO.,LTD. (China), Segway Inc. (US), Honda Motor Co., Ltd. (Japan), and Inventist, Inc. (US).