Personal Transporter Market: Industry Analysis and Forecast

Personal Transporter Market Overview:

The personal transporter market is segmented into vehicle type, product, weight capacity, travel range, application and region. Further on the basis of vehicle type the personal transporter market is further sub-segmented into E-Scooter, E-bike, E-Hoverboard, E-Skateboard. On the basis of product, the market is segmented into retro and standing/self-balancing. On the basis of weight capacity, the personal transporter market is segmented into up to 10 Kg, 10 Kg-20 Kg, more than 20 Kg. On the basis of travel range, the personal transporter market is segmented into up to 20 Kms, 20 Kms to 35 Kms and more than 35 Kms. On the basis of application, the market can be segmented into on-road and off-road type. Geographically, the personal transporter market is segmented into North America, Europe, Asia-Pacific and other regions.

Personal Transporter Market Dynamics:

Personal Transporter Market is expected to reach US$ 93.16 Bn. in 2029 from US$ 52.63 Bn. in 2022 at CAGR of 8.5% during the forecast period. The market is expected to keep growing due to increase in demand for e-mobility cars, awareness of smart eco-friendly transport and the compact mobility solution provided by the personal transporter market constituents. A personal transporter is a low-speed, electric-powered vehicle that can transport one or two persons over short distances.

 

The increasing need for personal transporters is due to the expanding trend of high-performance digital signal processors such as sensors and actuators, as well as the developing tourism sector globally and the growing demand for a self-balancing two-wheeled electric vehicle. With the recent breakout of pandemic, the term "personal mobility solution" has become the current buzzword in the automotive business. Since the pandemic-induced lockdowns, E-bikes, Segway, driverless vehicles, and electric two-wheelers taken the spotlight.

 

Consumers are adjusting their transportation preferences as a result of the new coronavirus variants that can induce lockdowns anytime in future, which has prompted them to seek out safer modes of transportation. As the demand for social distance grows due to COVID-19 many consumers have started opting for personal transporters as they provide micro-mobility solution along with eco-friendly transport option which is cost effective as well.

 

One of the major deterrents of the personal transportation market is the obstruction by the local laws, regulations regarding motor vehicles. Many countries have termed personal transport vehicles as full-fledged motor vehicles and sought proper license tests whereas some countries have not yet classified personal transporters as forms of legal vehicles.

 

 

Personal Transporter Market Segment Analysis:

On the basis of vehicle type, the personal transporter market is segmented into E-Scooter, E-bike, E-Hoverboard, E-Skateboard. Amongst all the types of vehicles e-scooters have the majority market share and it is projected to continue during the forecast period as well. The prime factor contributing to the success of E-scooters is their compact nature using which they can provide easy transportation during heavy traffic situation. Additionally, E-scooters are further available in many variants like foldable scooters etc that add to the purchase value of the E-scooters. E-hoverboards and E-Skateboards are still in their formative development stage as they are mainly used for recreational purposes.

 

 

On the basis of product type, the personal transporter market is segmented into retro type and standing/self-balancing type. The retro type personal transporter vehicles have majority of market share owing to their similarity with the conventional internal combustion engine vehicles that allow the user to make the switch from conventional vehicles to personal transporters easily. Furthermore, on the basis of weight capacity the personal transporter market is segmented into up to 10 Kg, 10 Kg-20 Kg and more than 20 Kg categories. More than 20 Kgs category is estimated to have the highest market share due to high demand from tourist spots, outdoor applications like mountain rides etc.

 

 

On the basis of travel range, the personal transporter market is segmented into ranges of up to 20 Kms, 20 Kms to 35 Kms and more than 35 Kms. The range capacity of up to 20 Kms is projected to hold major global share due wide variety of in-door application like usage at large shopping malls, homes, hospitals, airports etc.

 

On the basis of application, the personal transporter market is segmented into two types namely on-road and off-road application. The on-road application is projected to grow during the forecast period that can be attributed to rise in manufacturing activities, tourism, changing lifestyle and increase in disposable income of citizens of developing countries.

 

Personal Transporter Market Regional Insights:

On the basis of regions, the personal transporter market is segmented into North America, Europe, Asia-Pacific and rest of the word which constitutes other regions. Asia-Pacific region is expected to experience the highest growth rate and also hold majority market share amongst all other regions. This is due to increasing disposable income of the citizens living in the constituent countries with developing economies. Additionally, high adoption rate of the new technology like self-balancing scooters in countries like Vietnam, China, India and Japan is fueling the growth of personal transporter market globally.

 

Europe is also expected to hold significant market share during the forecast period owing to strict government regulations with respect to conventional vehicles that is driving the sales of personal transporters in the European region. Additionally, the personal preference of consumers in Europe tends to be towards personal transporters only due to their ability to cut through traffic and congested areas.

 

North America is also expected to witness good growth in the personal transporters market space due to increased inclination of consumers towards rental business models that lend the e-scooters and e-bikes for nominal rates with little cost of ownership. This trend has picked up in the United States and is estimated to keep growing which will in turn boost the personal transporters market in the North American region.

 

 

The objective of the report is to present a comprehensive analysis of the personal transporter market to the stakeholders in the industry. The report provides trends that are most dominant in the personal transporter market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the personal transporter Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the personal transporter market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the personal transporter market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the personal transporter market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the personal transporter market. The report also analyses if the personal transporter market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the personal transporter market. Economic variables aid in the analysis of economic performance drivers that have an impact on the personal transporter market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the personal transporter market is aided by legal factors.

 

Personal Transporter Market Scope:

 

 

 

Personal Transporter Market Scope
Market Size in 2022	USD 40.21 Mn.
Market Size in 2029	USD 56.58 Mn.
CAGR (2023-2029)	5 Percent
Historic Data	2017-2021
Base Year	2022
Forecast Period	2023-2029
Segment Scope	by Vehicle Type E-Scooter E-bike E-Hoverboard E-Skateboard
	by Product Retro Standing/Self-Balancing
	by Weight Capacity Up to 10 Kg 10 Kg-20 Kg More than 20 Kg
	by Travel Range Up to 20 Kms 20 Kms-35 Kms More than 35 Kms
	by Application On-Road Off-Road
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

Personal Transporter Market Key Players

• Inmotion Technologies Co. Ltd. (China)
• Segway Inc. (US)
• Honda Motor Co. Ltd. (Japan)
• Inventist Inc. (US)
• Airwheel Holding Limited (China)
• T3 Motion Inc. (US)
• Onewheel (US)
• Boxx Corp. (US)
• RazorUSA LLC (US)
• Hangzhou CHIC Intelligent Technology Co. Ltd. (China)
• Robostep (China)
• Nino Robotics (France)
• Uboard (India)
• Gogoro (Taiwan)
• Niu Technologies (China)