New York, US, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Personal Transporter Market Information by Product Type, Weight Capacity, End-Use, Vehicle Type, Region, System Type, Travel Range, and Application—Forecast till 2030”, the global market for personal transporters is predicted to thrive considerably during the assessment period from 2022 to 2030 at a healthy growth rate of approximately 8.5%. The reports further predict the market to cross around 150 million units by the end of 2025.
Personal Transporter Market Overview:
A personal transporter refers to an electric-powered, low-velocity, and short-distance vehicle for one or two people. Several personal transporters include electric bicycles, electric skateboards, and electrical wheels. An electric wheel has one or two wheels on an axle, and the users ride on a platform connected to the wheel. The global market for personal transporter market has demonstrated massive development in recent years. The primary parameter supporting the market's growth is the development of battery technology with lower costs. Furthermore, the growing government policy support is also considered one of the crucial parameters supporting market development. Moreover, factors such as the low cost of production for personal transporter and rising fuel prices are also likely to impact the market's development over the coming years positively.
Competitive Analysis
The catalog for the leading participants across the global personal transporter market includes players such as:
- Inmotion Technologies Co., Ltd (China)
- T3 Motion, Inc. (US)
- Segway Inc. (US)
- Onewheel (US)
- Honda Motor Co., Ltd. (Japan)
- BOXX Corp. (US)
- Inventist, Inc. (US)
- RazorUSA LLC (US)
- Airwheel Holding Limited (China)
- Hangzhou CHIC Intelligent Technology Co., Ltd. (China)
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Personal Transporter Market USP Covered
Market Drivers
The global personal transporter market has demonstrated massive development in recent years. The primary parameter supporting the market's growth is the development of battery technology with lower costs. Furthermore, the growing government policy support is also considered one of the crucial parameters supporting market development. Moreover, factors such as the low cost of production for personal transporter and rising fuel prices are also likely to impact the market's development over the coming years positively.
Market Restraints
On the other hand, several aspects may harm the development of the market. The restricting aspects include the unavailability of spare parts and the limited access to certain locations, which is cumbersome.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | 2025: 150 million units 2030: Significant value in USD |
| CAGR during 2022-2030 | 8.5% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Significant increase in the demand for environment-friendly |
| Key Market Drivers | Rising in the demand for electric mobility vehicles Heavy traffic conditions Increasing demand for self-balancing two-wheeled electric vehicle |
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COVID-19 Impact
The global health hazard in the shape of COVID-19 has had a massive impact on most industry sectors. Considering the rapid spread of the infectious disease, several governments across the globe announced partial or complete lockdowns for quite a long time. Consequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for vehicles and travel restrictions imposed, the personal transporters market faced several unexpected challenges during the pandemic. On the other hand, with the rapid vaccination rates and all the global industrial operations returning to normal, the market is anticipated to experience substantial development over the forecasted timeframe. Over the forecasted era, the global market for industrial vacuum cleaners is anticipated to be propelled by the factors such as the rising unconventional field development activities and rising exploration & development activities. On the other hand, the lack of investment in the sector and the high cost of industrial vacuum cleaners are anticipated to hamper the market's performance over the coming years.
Personal Transporter Market Segment Analysis
Among all the vehicle types, the electric scooter segment is anticipated to ensure the top spot across the global personal transporter market over the assessment era. The vehicles are known to be compact, offering ease of transportation in a heavy traffic situation. Furthermore, they are available in several kinds, such as Segway models, foldable scooters, and portable hoverboards. Therefore, customers get more choices to select the right electric scooter based on their preferences. On the other hand, the high cost associated with these electric bikes will likely limit the segment's performance. In addition, the strict government regulations for using e-skateboards on roads and in public are also likely to influence the segment's growth over the coming years negatively.
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Among all the battery types, the sealed lead acid batteries segment is anticipated to hold the top spot across the global personal transporter market over the assessment era. The main parameter boosting the segment's performance is their low cost and higher range per charge. On the other hand, the growth of the NiMH batteries segment is likely to be restricted by the growing environmental concerns over Nickel and other hazardous chemical leakages through these batteries while decomposing. Lithium-ion batteries are predicted to acquire significant market share by the end of 2030, given the rising technological innovations such as the surging use of polymers and fast charging for better battery life.
Among all the products, the standing/self-balancing segment is predicted to ensure the top spot across the global market for personal transporters over the review era.
Among all the weight ranges, the more than 20 kg segment is anticipated to hold the top spot across the global market for personal transporters over the assessment era.
Based on the travel range, the 20 km-35km segment is anticipated to ensure the top spot across the global market for personal transporters over the assessment era.
Among all the application areas, the on-road segment is predicted to ensure the top spot across the global personal transporter market over the review era.
Personal Transporter Market Regional Analysis
The global personal transporter market is analyzed across five major geographies: Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The MRFR analysis reports suggest that the Asia-Pacific region is anticipated to hold the top spot across the global personal transporter market over the coming years. the main parameter supporting the growth of the regional market is the increasing adoption of self-balancing scooters along with the retro two-wheelers in nations like Japan, India, Vietnam, and China.
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The European regional market for personal transporters is anticipated to showcase the maximum growth rate over the coming years. the main parameter supporting the expansion of the regional market is the stringent government standards. Furthermore, the increasing demand for personal motorized transporter along with the swing personal transporters from countries such as France, Spain, and the UK are also likely to positively influence the growth of the regional market over the coming years.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
