Self-balancing scooter: Key market research findings
- The Americas dominate the market geographically
- Emergence of an efficient supply chain by the end of the forecast period
- Key vendors – CoolReall, Esway, eVoy Technologies, Freego, Hangzhou Chic Intelligent Technology, Hoverboard Vault, HoverTech, Inventist, IO HAWK, Kiwano, Koogo Technology, MonoRover, Razor USA, Sky Walkers USA, and Smart Scooter
Technavio’s market research analysts predict the global self-balancing scooter market to decline at a CAGR of over 18% between 2016 and 2020. The low spending on marketing is the primary for the decline in this market. The self-balancing scooters market has seen limited spending in terms of marketing and advertising. However, self-balancing scooters have been gaining a lot of traction and publicity through social media. The Americas dominated the global self-balancing scooter market in 2015 by accounting for more than 47% of the overall market space. The high penetration of these scooters in the US is the primary driving force behind the booming of the market in this region. The presence of several key vendors, high disposable incomes, and high standards of infrastructure similar to European countries are some of the factors that drive growth in the self-balancing scooter market in the Americas.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The establishment of an effective supply chain is an upcoming trend in the global self-balancing scooter market. The self-balancing scooter market is unorganized with different vendors operating in the market. Lack of product differentiation, low-quality battery, and the presence of counterfeit products are slowing the growth of the market remarkably. However, these challenges can be overcome with stringent government regulations, and there is expected be an organized market with very few counterfeit products by 2020,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
Self-balancing scooters are one of the least-expensive mobility scooters and possess quite a few advantages and disadvantages compared to electric skateboards (products such as Zboard and Marbel Board) and self-balancing scooters with handlebars (products such as Ninebot and Segway). Pricing, the number of vendors, increased awareness among consumers, and easy availability is likely to act as differentiating factors between self-balancing scooters and other mobility devices, and will contribute to the growth in the self-balancing scooter market globally in the coming years.
The key vendors in the global self-balancing scooter market include CoolReall, Esway, eVoy Technologies, Freego, Hangzhou Chic Intelligent Technology, Hoverboard Vault, HoverTech, Inventist, IO HAWK, Kiwano, Koogo Technology, MonoRover, Razor USA, Sky Walkers USA, and Smart Scooter. Established only two years ago, the self-balancing electric scooters market is currently dynamic. Though the presence of a number of vendors makes the market highly competitive, the expected introduction of new regulations from governments will eliminate a number of vendors. This will result in a sustainable market with only a handful of vendors that manufacture reliable products.
A more detailed analysis is available in the Technavio report, Global Self-balancing Scooter Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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