The self-balancing scooter market is still in its nascent stage; however, the market is registering stiff competition from low-cost Chinese players. In India, self-balancing scooters are widely available in three types such as hover board, electric unicycle and self-balancing board with handle bar.
According to 6Wresearch, India’s self-balancing scooter market is forecast to grow at a CAGR of 18 per cent during 2016-22. Amongst all type of self-balancing scooters, the hover board segment has captured key share of the market pie. India’s self-balancing scooter market is highly consolidated with the dominance of international players such as Ninebot, and Airwheel Technologies, which cumulatively accounted for 44.4 per cent of the market share in 2015.
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