Global Personal Transporter Market Overview

The personal transporter market refers to the segment of the transportation industry that focuses on compact and portable vehicles designed for individual use. These innovative and electric-powered devices offer convenient and eco-friendly alternatives for short-distance commuting, recreational activities, and last-mile transportation.

The global personal transporter market volume can reach from USD 53.38 Billion in 2023 to USD 102.52 Billion by 2032. It can display 8.50% CAGR over the forecast period.

Market Scope

Awareness of Advanced Mobility Solutions to Drive Market Demand

Advanced mobility solutions that are light and portable in nature can drive the demand for personal transporters. Increasing size of the geriatric population and ability to be prone to mobility disorders can drive the market growth. Increased spending power and settlement in retirement communities will encourage demand. Technological designs of scooters and introduction of mobility products will augur favorably for market growth.

Rise in Domestic Tourism and Technological Developments to Shape Global Market

Increasing demand for eco-friendly transportation as well as opportunities for growth due to the aging populace and disabled people can drive market growth. Technological strides in battery development, vehicle weight reduction, and DSP processors can shape market growth. Changing policies on public transportation and awareness programs for reducing reliance on short commutes can drive market growth. Collaboration with app developers and integration with USB charging can bode well for the market.

High Costs to Hamper Market Growth

The huge costs of personal transporters and their functioning of battery and electrical power which require constant charging can be burdensome for buyers. High costs of batteries and its unaffordability in low-economy countries can impede market growth.

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Key Players

·       BOXX Corp. (US)

·       INMOTION TECHNOLOGIES CO., LTD. (China)

·       RazorUSA LLC (US)

·       Segway Inc. (US)

·       Hangzhou CHIC Intelligent Technology Co., Ltd. (China)

·       Airwheel Holding Limited (China)

·       Honda Motor Co., Ltd. (Japan)

·       Inventist, Inc. (US)

·       Onewheel (US)

·       T3 Motion, Inc. (US)

Industry Update

Toyota Corporation has launched the C+walk electric personal transporter for helping people commute indoors and outdoors.

Segmentation

·       On the basis of vehicle type, the global market has been segmented into e-skateboard, e-bik e-scooter, e-hoverboard, and others. Electric bikes are likely to gain a large market share owing to various automakers entering the sector and subsidies provided by governments to create a temporary monopoly.

·       On the basis of product, the global market has been segmented into standing/self-balancing, retro, and folding. Folding personal transporters can capture a large market share over the forecast period. This is due to student tourists attempting to save on traveling expenses and rise of intermodal travel.

·       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 is divided into on-road and off-road. The off-road application is expected to gain traction in the personal transporter market owing to increasing demand for vehicles with low emission levels. Integration of digital sensors and self-balancing systems can extend its use to naval and air routes of transportation.

COVID-19 Impact

The COVID-19 pandemic negatively impacted the personal transporter market owing to restrictions on movement and measures by governments to contain the virus. But reopening of roads and resurgence of economies owing to massive vaccination efforts can bode well for the market. Stringent environmental norms and moves by customers to adopt sustainable approaches to curb emission levels can drive market growth.

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