Micromobility Market Insights, Size, Worth, Revenue, Forecast | 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.
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Micromobility Market by Propulsion Type (Human Powered and Electrically Powered), Vehicle Type (E-kick Scooters, Bicycles, Skateboards, and Others), Sharing Type (Docked and Dock-less), and Age Group (15-34, 35-54, and 55 and Above): Global Opportunity Analysis and Industry Forecast, 2021-2030
Micromobility Market Trends:
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.
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.
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.
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1. Vehicle Electrification Market: https://reports.valuates.com/market-reports/ALLI-Manu-2Y52/vehicle-electrification
2. Electric Bicycles Market: https://reports.valuates.com/market-reports/QYRE-Auto-10K2696/global-electric-bicycles
3. Pedelec Market: https://reports.valuates.com/market-reports/QYRE-Auto-771/global-pedelec
4. Electric Scooter and Motorcycle Market: https://reports.valuates.com/market-reports/QYRE-Auto-1Z1154/global-electric-scooter-and-motorcycle
5. Electric Bike Market: https://reports.valuates.com/market-reports/ALLI-Auto-0O416/electric-bike
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Why Is Urban Youth Opting For Micromobility Services?
Micromobility solutions, such as bike sharing, scooter sharing, and kick scooter sharing services, enable commuters to cover a distance of fewer than 5 miles per trip. Such micromobility services intend to bridge the gap between first and last-mile connectivity, which cannot be achieved through ride hailing and carsharing services. Moreover, the provision of such services through dock-less or station-less model enables commuters to drop off bikes, kick scooters, and scooters