Micro-Mobility Market Size, Demand, and Key Players Analysis with Regional Forecast to 2030

Micro-Mobility Market Overview:

The size of the micro-mobility market was estimated at USD 33.06 billion in 2022 and is projected to increase at a compound annual growth rate (CAGR) of 13.5% over the forecast period of 2023-2030, to reach USD 91.05 billion, Micro-mobility options like electric bikes, scooters, and small electric cars have attracted a lot of attention because of the increase of congested city centers and the growing emphasis on eco-friendly alternatives.

The attractiveness of micro-mobility alternatives is further increased using smart technologies, such as GPS tracking and smartphone apps for easy rentals and navigation.        

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Market Scope:  

Bicycles, electric scooters, and other small cars are blending in well with the urban landscape, offering last-mile connection and cutting carbon emissions. The market's expansion reflects a paradigm shift toward customized, environmentally responsible transportation rather than just being a fad. We are witnessing a kaleidoscope of creative business models and cutting-edge technologies, creating an ecosystem where convenience meets environmental concern, as both startups and established firms compete for a piece of this expanding market. A new era of flexible and environmentally friendly urban transportation is being fostered by the streets, which are becoming into vibrant hubs of micro-mobility.

Industry Analysis:

Micro-mobility appears to be a key factor in changing transportation in the future as urban environments continue to struggle with traffic and environmental issues. The industry analysis shows a changing picture with a sharp rise in the use of electric bikes, scooters, and other small cars due to the increased focus on last-mile and sustainable transportation solutions. Innovative business models are being used by both new and established firms to capitalize on technological breakthroughs like IoT connectivity and smart infrastructure integration. In order to incorporate these innovative forms of mobility, legal frameworks are also changing; yet, issues including safety worries, limited infrastructure, and unclear regulations still exist.  

Prominent Players:

Mobike (China), Yadea Technology Group Co., Ltd.; Jiangsu Xingri E-vehicle CO., LTD.; Xiaomi; Yellow Scooters (US), YAMAHA MOTOR CO., Lime Scooter (US), Micro Mobility Systems AG (Switzerland), Motivate (Lyft) (US), SWAGTRON, Pride Mobility Products Corp. (US), EV RIDER LLC (US), ofo Inc. (China), Golden Technologies (US), Merits Co. Ltd (Taiwan), SEGWAY INC.; Boosted USA; Air wheel Holding Limited; LTD.; Accell Group, Bird Rides, Inc. (US), and Invacare Corporation (US) are some of the prominent players in the Micro-Mobility Market.

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Segment Analysis:

The market is split into electrically powered (such as e-bikes and e-scooters) and non-electric (such as bicycles and kick scooters) alternatives according on propulsion type. Because of rising environmental consciousness and government incentives, electric vehicles are predicted to dominate the market. The market is divided into segments based on the kind of vehicle: bicycles, e-bikes, e-scooters, and other micro mobility options. The most common options right now are e-bikes and e-scooters, but other cutting-edge options like e-skateboards and stand-up electric scooters are starting to catch on. The market is separated into docked and dockless devices based on sharing type. Fixed parking stations are available with docked choices, while greater flexibility and convenience are offered with dockless models. The cost and convenience of use of dockless technology are expected to drive significant growth in this market segment.

Regional Analysis:

As a result of urbanization, technology advancement, and an increasing focus on environmentally friendly transportation options, APAC region is leading the way in the Micro-Mobility Market revolution. Micro-mobility choices like e-scooters, electric bikes, and bike sharing have become attractive substitutes as urban centers in Asia-Pacific region struggle with traffic and environmental issues. From well-established businesses to agile startups, the APAC market is made up of a wide variety of participants, all of whom must negotiate the particular infrastructure and regulatory obstacles presented by various nations.  

Key Takeaways:

The widespread adoption of electric scooters and bikes, providing users with efficient, eco-friendly alternatives to traditional modes of transportation. This shift towards sustainable micro-mobility options is reshaping city landscapes and fostering a greener, more interconnected urban environment.
Additionally, the rise of app-based rental services has made micro-mobility more accessible and convenient for users, enabling them to easily locate, unlock, and utilize shared vehicles.
As the market continues to evolve, collaborations between micro-mobility providers and city authorities are becoming increasingly crucial to address regulatory considerations and ensure the seamless integration of these solutions into existing transportation ecosystems.

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Recent Development:

Lyft, Inc.:  March 2023: Announced plans to invest $100 million in expanding its micro-mobility platform.

Lime: September 2023: Updated its app with features to improve accessibility and safety, including voice navigation and helmet detection. 

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This release was published on openPR.