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Micromobility Market Size, Value, Analysis, Introduction, Overview, Porter's five forces analysis, Key Players: Beam Mobility Holdings, BIRD, Lime, Neuron Mobility, Voi, Yulu, Zagster, Floatility GmbH | Valuates Reports
The global micromobility market was valued at USD 40.19 Billion in 2020, and is projected to reach USD 195.42 Billion by 2030, registering a CAGR of 17.4% from 2021 to 2030. Key drivers of the micromobility market growth include the rising trend of on-demand transportation services, government initiatives for smart cities, and a rise in venture capital and strategic investments. Micromobility refers to a range of small, lightweight vehicles operating at a speed of not more than 15 miles per hour ( 25 km/hr) and is considered ideal for commuting within a 10 km range.
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Trends Influencing the Growth of Micromobility Market
Rising environmental concern is driving the growth of the market
As urbanization increases the demand for micromobility will explode further due to rising pollution levels, increasing environmental consciousness, and growing congestion in urban cities.
Micromobility modes of transportation such as bikes, scooters, mopeds, and skateboards, etc provide much-needed easy access to public infrastructure, reduce the overall environmental footprint, and are much more cost-effective than traditional modes of transportation. Thus growing environmental concern will drive the growth of the micromobility market during the forecast period.
Increasing government initiatives for smart cities will accelerate the growth of the market
Rising government initiatives and support for building smart cities with necessary bike infrastructure etc are further fueling the growth of the market. Initiatives such as creating pop-up bike lanes, creating more open spaces, and making a few streets inaccessible to motorized vehicles, etc are contributing towards the growth of the micromobility market and will continue to rise further during the forecast period. Major governments around the world are completely changing their cities' transportation systems opening up spaces for bicyclers and pedestrians which is further boosting the growth of the micromobility market.
Increase in the trend of on-demand transportation systems is further driving the growth of the market
On-demand micromobility services include the availability of e-bikes and e-kick scooters provide flexibility, fare comparison, and other features such as real-time feedback, review ratings, etc. Furthermore, with the advent of various mobile applications location, price, and demand-supply determination has become far easier. Thus, the rising demand for micromobility transportation services is fueling the growth of the micromobility market and will continue to grow during the forecast period.
Presence of key market players and rising investments will accelerate the growth of the market
The surge in demand for carpool and bike pooling services among office commuters and the presence of big markets players such as Uber and Ola has further given a huge thrust to the growth of the market. Several offers like pick up and drop facility, co-passenger information, higher convenience, and affordable pricing has increased the demand for micromobility transport services further driving the growth of the micromobility market. Rising investments are also contributing to the growth of the market.
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Micromobility Market Share Analysis
Based on vehicle type, the electric bicycle segment is expected to provide lucrative opportunities for growth during the forecast period as e-bikes are the cheapest modes of transportation leading to faster adoption among end consumers.
Based on propulsion type, the electrically powered segment is expected to hold the largest micromobility market share during the forecast period due to the rising demand for electric-powered micromobility transportation modes.
Micromobility Market by Propulsion Type
• Human Powered
• Electrically Powered
Micromobility Market by Vehicle Type
• E-kick Scooters
• Bicycles
• Skateboards
• Others
Micromobility Market by Sharing Type
• Docked
• Dock-less
Micromobility Market by Age Group
• 15-34
• 35-54
• 55 and Above
Micromobility Market by Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
Key Companies
• Beam Mobility Holdings
• Bird
• Electricfeel
• Dott
• Lime
• Neuron Mobility
• VOI
• Yulu
• Zagster
• Floatility GmbH
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