Micro-Mobility Market is expected to reach US$ 9.0 Billion by 2031 | Merida Industry Co. Ltd., Yamaha Bicycles, Terra Motor, Rad Power Bikes, Trek Bikes, Riese & Muller

Micro-Mobility Market reached US$ 3.6 Billion in 2023 and is expected to reach US$ 9.0 Billion by 2031, growing with a CAGR of 12.1% during the forecast period 2024-2031.

The Micro-Mobility Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.

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Micro-Mobility Market Landscape Analysis :

As urban areas become increasingly crowded and densely populated, cities around the world are facing mounting issues such as traffic congestion, air pollution, and limited parking availability. In response, micro-mobility solutions are emerging as practical alternatives that address last-mile connectivity challenges for public transit users and offer a more efficient way to move through busy city environments. Devices like electric scooters and e-bikes provide a cleaner, more sustainable option compared to traditional vehicles, helping to reduce greenhouse gas emissions and improve urban air quality.

The global micro-mobility market is gaining momentum, largely due to the strategic expansion efforts of major industry players. For example, on April 7, 2021, NIU Technologies announced its entry into the urban micro-mobility segment across China, Europe, and the United States, expanding its product range to include kick scooters aimed at commuters traveling short distances of 1 to 5 kilometers. This move builds on the company's earlier success in the electric moped markets in the U.S. and Europe.

North America currently leads the market, driven by a wave of new product launches and regulatory support. Notably, on August 10, 2023, Veo, a U.S.-based micro-mobility provider and permit holder in New York City, announced its expansion into retail, with plans to produce 1,000 scooters by the end of the year. Veo's shared mobility services, which include electric bikes, pedal cycles, and kick scooters, are now available in over 50 U.S. cities, further accelerating adoption in the region.

Micro-Mobility Market: Shifting Industry Trends and Market Potential

Growing Urbanization and Population Density Fueling Micro-Mobility Adoption

The rise in urbanization and population density is contributing to increased reliance on both private vehicles and public transportation, leading to worsening traffic congestion in many cities. Micro-mobility solutions, such as electric bikes and scooters, offer a flexible and efficient alternative for short-distance travel, helping to ease congestion and improve urban mobility. These services are particularly valuable for last-mile connectivity, allowing commuters to conveniently complete the final segment of their journey from transit hubs to their destinations.

As urban transport systems like buses, subways, and trains-expand, the need for seamless last-mile solutions becomes more pressing. Micro-mobility devices are increasingly being adopted to fill this gap, making daily commutes more efficient and accessible.

According to data from the Global Change Data Lab, in smaller but highly urbanized countries such as Puerto Rico, Israel, Kuwait, the UAE, and Japan, more than 50% of the population lives in large towns or cities. In the Americas, 40-50% of people reside in major urban centers, while in most parts of Asia, Europe, and Africa, urban population rates range between 10% and 40%. Looking ahead, one in every seven people globally is expected to live in urban areas by 2050. Only a limited number of countries-mainly in Asia, the Pacific Islands, Sub-Saharan Africa, and Guyana are projected to retain a higher rural population share by that time.

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Strategic Players Driving the Micro-Mobility Market Forward: Cannondale Bicycle Corporation, Zongshen Electric Motorcycle, Merida Industry Co. Ltd., Yamaha Bicycles, Terra Motor, Rad Power Bikes, Trek Bikes, Riese & Muller, Derby Cycle and VanMoof B.V.

Research Methodology:

The global Micro-Mobility Market research report employs a comprehensive dual-source approach, integrating both primary and secondary data collection methods to ensure robust market analysis. Our research framework systematically evaluates multiple industry-influencing variables, including regulatory frameworks and government policies, prevailing market conditions, competitive intensity levels, historical performance data, current market positioning, technological innovations and disruptions, emerging industry developments, cross-sector business impacts, market volatility patterns, growth prospects, potential market barriers, and strategic challenges facing industry participants.

Segment Covered in the Micro-Mobility Market:

By Type (Electric Scooters, Electric Bicycles (e-bikes), Electric Skateboards, Electric Kick Scooters, Others)

By Sharing Type (Docked, Dockless)

By Service (Ride-Sharing, Subscription-Based, Pay-Per-Use, Corporate and Institutional, Others)

By End-User (Individual Consumers, Businesses and Enterprises, Public Sector and Governments, Tourism and Hospitality, Others)

By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

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Recent Developments

On November 26, 2023, TVS Motor Company launched its electric vehicle two-wheeler range to address diverse consumer segments. The production capacity of the company is around 25,000 units per month.

On August 16, 2023, eBikeGo, an electric bike startup plans to launch its Muvi brand of e-scooters in the international market. Virginia, Barcelona and Spain are the key places that eBikeGo has carefully chosen for its international activities, which will begin in April of the 2024 fiscal year.

Regional Analysis for Micro-Mobility Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Micro-Mobility Market Research Industry:

➠ Who leads the Micro-Mobility industry and what's their competitive positioning regarding capacity, performance, and profitability?

➠ What growth opportunities and market challenges do Micro-Mobility market vendors face?

➠ Which segments show the highest growth potential and market share distribution?

➠ What factors are driving or limiting Micro-Mobility market growth?

➠ What are the dominant sales and distribution strategies in the Micro-Mobility industry?

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