Micromobility Market size was valued at US$ 52.39 Billion in 2023 and the total Micromobility Market revenue is expected to grow at 17.5% through 2024 to 2030, reaching nearly US$ 162.00 Billion.
Micromobility Market Overview
The micromobility market is rapidly evolving, driven by a shift towards sustainable urban transportation solutions and increasing congestion in metropolitan areas. This market encompasses a range of small, lightweight vehicles, including electric scooters, bikes, and e-bikes, designed for short-distance travel. As urban populations grow and environmental concerns escalate, micromobility options are becoming popular alternatives to traditional modes of transportation, promoting convenience and reducing carbon footprints. The rise of shared micromobility services, enabled by smartphone applications, has further propelled market growth, offering users flexible and cost-effective transportation solutions.
Market Forecast and Key Dynamics:
The micromobility market is projected to experience a compound annual growth rate (CAGR) of approximately 15% over the forecast period. Key dynamics influencing this growth include increasing government initiatives to promote green transportation, investments in infrastructure to support micromobility solutions, and advancements in battery technology enhancing vehicle efficiency. Additionally, the ongoing post-pandemic recovery is driving demand for safe, contactless transportation options. However, challenges such as regulatory hurdles, safety concerns, and market competition from alternative transport solutions may pose obstacles. To thrive, companies are focusing on innovation, enhancing user experience, and developing integrated mobility platforms.
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Micromobility Market Regional Insights
North America is leading the micromobility market, bolstered by substantial investments in urban infrastructure and a growing preference for eco-friendly transportation. Europe follows closely, with cities like Paris and Berlin implementing policies that favor micromobility options as part of broader sustainability initiatives. The Asia-Pacific region is also witnessing significant growth, driven by rapid urbanization, increasing traffic congestion, and a surge in e-scooter and bike-sharing programs. In contrast, Latin America and the Middle East are at nascent stages of market development but show promising potential as cities explore innovative transport solutions. Overall, the micromobility market is characterized by varied regional dynamics, reflecting differing consumer behaviors and regulatory environments.
Micromobility Market Segmentation
by Vehicle Type
Skateboards
Hover board
Low Speed EVs
Segway
Mopeds and Scooters
E-kick scooters
Bicycles
by Battery Type
Sealed Lead Acid
NiMH
Li-ion
By Sharing Type
Dockless
Docked
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Micromobility Market Key Players
Yadea Technology Group Co., Ltd. (China)
JIANGSU XINRI E-VEHICLE CO., LTD. (China)
Xiaomi (China)
SEGWAY INC. (USA)
SWAGTRON (USA)
Boosted USA (USA)
Airwheel Holding Limited (USA)
YAMAHA MOTOR CO., LTD. (Japan)
Accell Group (Netherlands)
Derby Cycle (Germany)
Beam Mobility Holdings PTE. Ltd (Singapore)
Bird Rides (USA)
DOTT (Netherlands)
Electricfeel (Switzerland)
Floatility GmbH (Germany)
Lime (USA)
Neuron
VOI
Yulu Bikes Pvt. Ltd (China)
Key questions answered in the Micromobility Market are:
- What is Micromobility?
- What was the Micromobility market size in 2021?
- What is the growth rate of the Micromobility Market?
- Which are the factors expected to drive the Micromobility market growth?
- What are the different segments of the Micromobility Market?
- What growth strategies are the players considering to increase their presence in Micromobility?
- What are the upcoming industry applications and trends for the Micromobility Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Micromobility Market?
- What segments are covered in the Micromobility Market?
- Who are the leading companies and what are their portfolios in Micromobility Market?
- What segments are covered in the Micromobility Market?
- Who are the key players in the Micromobility market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by Different Segment | 2022-2027
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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