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Marked Surge in Global Micro-Mobility Market: A Deep-Dive into Market Trends, Key Players, and Growth Drivers
Micro-Mobility Market Size
What Is The Projected Market Size Of The Global Micro-Mobility Market And Its Growth Rate?
The global micro-mobility market is poised for significant growth. Key data points to keep in mind are:
• Market Size in 2024: $62.98 billion
• Expected Market Size in 2025: $75.85 billion (CAGR 20.4%)
• Projected Market Size in 2029: $166.8 billion (CAGR 21.8%)
Factors such as urbanization, shifts in consumer behavior, economic factors, the Covid-19 pandemic, and infrastructure development have spurred this growth.
What Is Driving The Growth In The Micro-Mobility Market?
The surge in public transportation needs and rapid urbanization are pivotal to the growth of the micro-mobility market. Micro-mobility simplifies commuting within populated regions, enhancing individual mobility and access to transportation. As per a report by the US Bureau of Labor Statistics, consumer expenditure on transportation surged by 72% in 2021, with intercity bus and train fares rising by 87.4% and 40.7% respectively. Consequently, the demand for micro-mobility solutions is projected to rise in tandem with public transportation needs.
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Who Are the Key Players Driving Micro-Mobility Market Growth?
The growth of the micro-mobility market is driven by key players such as:
• Yadea Technology Group Co. Ltd.
• Jiangsu Xinri E-Vehicle Co. Ltd.
• Xiaomi Corp.
• Segway Inc.
• Swagtron
• Airwheel Holding Limited
• Yamaha Motor Co. Ltd.
• Accell Group N.V.
• Derby Cycle AG
• Neutron Holdings Inc.
What Are The Key Trends In The Micro-Mobility Market?
Predominant trends in the micro-mobility market include:
• Electrification
• Vehicle Diversity
• Autonomous Micro-Mobility
• Focus on User-Centric Design
• Circular Economy Initiative
What Are The Segments Of The Global Micro-Mobility Market?
The micro-mobility market can be segmented into:
1) By Type: Bicycles, E-Bikes, E-Kick Scooters, Other Types
2) By Speed: Up To 25 Kmph, 25-45 Kmph
3) By Propulsion: Human Powered, Electrically Powered
4) By Sharing Type: Docked, Dock-Less
5) By Ownership: Business To Business, Business To Consumers
Which Region Leads The Micro-Mobility Market?
As per the data, Asia-Pacific led the micro-mobility market in 2024. However, North America is predicted to be the fastest growing region in this market during the forecast period. Other regions that impact the micro-mobility market include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Micro-Mobility Market Global Market Report?
- Market Size Analysis: Analyze the Micro-Mobility Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Micro-Mobility Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Micro-Mobility Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Micro-Mobility Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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