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)

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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The growing popularity of on-demand transport services, government efforts for smart cities, and an increase in venture capital and strategic investments are some of the key factors driving the micromobility market's growth. In order to commute within a 10 km radius, micromobility refers to a variety of small, lightweight vehicles that operate at a maximum speed of 15 mph (25 km/h).

An increase in pollution levels, increased urbanization, a cost-effective means of transportation, and growing environmental awareness are other reasons propelling the micromobility market's expansion. Additionally, the industry is anticipated to grow over the long run as more individuals switch to micromobility forms of transit as a result of worries about their health, cleanliness, and social isolation following an initial delay brought on by covid-induced lockdowns.

Other factors driving the growth of the micromobilty market are an increase in pollution levels, rapid urbanization, a cost-efficient mode of transportation, and growing concern for environmental impact. Moreover, after an initial slowdown due to covid induced lockdowns the market is expected to rise further in the long term as health, hygiene, and social distancing concerns encourage more people to shift to micromobility modes of transportation.

Due to rising pollution levels, growing environmental consciousness, and escalating traffic in major centers, the demand for micromobility will only rise as urbanization does. Bicycles, scooters, mopeds, skateboards, and other micromobility forms of transportation offer much-needed simple access to public infrastructure, lessen the total environmental impact, and are significantly less expensive than conventional modes of transportation. Thus, rising environmental concerns will fuel the micromobility market's expansion throughout the course of the projected period.

E-bikes and e-kick scooters are two examples of on-demand micromobility services that offer flexibility, fare comparison, and other features like real-time feedback, review ratings, etc. Furthermore, location, pricing, and demand-supply determination have all gotten much simpler with the introduction of numerous mobile applications. As a result, the micromobility market is expanding and will keep expanding over the course of the projected period due to the growing demand for transport services related to micromobility.

The expansion of the industry is also being fueled by increased government efforts and assistance for the construction of smart cities with the requisite bike infrastructure, etc. The micromobility market is expanding and will keep expanding over the course of the projection period as a result of initiatives including constructing temporary bike lanes, expanding public open spaces, and prohibiting motorized cars from some routes. Major governments all over the world are radically altering the transport infrastructure in major cities to provide room for bicyclists and pedestrians, which is further fostering the market for micromobility.

The industry has been given a significant boost by the rise in demand for carpooling and bike sharing among office commuters as well as the existence of major market participants like Uber and Ola. The demand for micromobility transport services has expanded as a result of several offerings, including pick-up and drop-off services, co-passenger information, more convenience, and inexpensive pricing, which is further boosting the micromobility market's expansion. Increased investments are also helping the market expand.

Although covid-induced lockdowns initially caused a decline in the micromobility business, the recovery has been fruitful. As e-bikes, scooters, mopeds, and other types of micromobility offer minimal touch points and improved social distance management, Covid 19 has resulted in an increase in customers in the micromobility industry. Consequently, the market for micromobility is anticipated to grow more as customer preferences change over the course of the projected period.

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The electric bicycle category, which is based on vehicle type, is anticipated to provide attractive growth prospects during the forecast period since e-bikes are the least expensive means of transportation, resulting in faster acceptance among end users.

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

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