Micro Mobility Market Research Report - Global Forecast till 2028

Micro-Mobility Market Research Report: By Weight Capacity (Up to 100 kg, 100–250 kg, Above 250 kg), By Travel Range (Up to 20 km, 20–40 km, Above 40 km), By Type (2-wheeler, 3-wheeler, Others) and By Application (Commercial, Residential) ; Forecast to 2028

ID: MRFR/AM/6843-HCR | February 2023 | Region: Global | 111 Pages         

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Micro-Mobility Market

The Micro-Mobility Market will reach up to USD 210721.03 Million is expected to grow at a 13% CAGR during the forecast period 2022-2030.

By Application Commercial Private
By Types Bicycles Shared bicycles Electric Scooters Electric skateboards Weight capacity Up to 100 kg Between 100-250 kg Above 250 kg
By End-Users State and national authority Micro mobility services Investors /shareholders Research organizations Government associations
Key Players
Companies Profiled   Yellow Scooters (US)    Bird Rides Inc. (US)    Lime Scooter (US)    Micro Mobility Systems AG (Switzerland)    ofo Inc. (China)    Mobike (China)    Motivate (Lyft) (US)    Pride Mobility Products Corp. (US)    EV RIDER LLC (US)    Golden Technologies (US)    Merits Co. Ltd (Taiwan)    Invacare Corporation (US)
Market Driving Forces   Rising oil & gas prices   Excellent energy conversion rates   Growing demand for shared and dockless scooters   Reduction in emissions   Rapidly growing global population   Growing e-scooter and e-bike sharing and renting services
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Market Overview

The global Micro-Mobility Market is predicted to develop with a 13% CAGR between 2022 and 2028, reaching up to USD 210 billion, according to market analysts.

The vehicles are used for traveling short distances. Some of the commonly used vehicles are bicycles, skateboards, electric vehicles, and others. vehicles have wide application areas including the commercial sector. The demand for vehicles is continuously rising across the globe.

The rising demand for carpool and electric riding in urban areas will contribute to the steady Market Growth within the forecast period. These vehicles are flexible, sustainable, and cost-effective and these are the main factors for the significant growth of the global Micro-Mobility Industry.

COVID-19 Analysis

During the pandemic period, the strict lockdown measures had helped in curbing the spread of the virus but across the world, the economic growth slowed down drastically. Many factors had led to the decline in the requirements for the Market Demand such as work from home, cancelation of trips, restricted outings, closure of shops and restaurants, and others. In the post-pandemic period, the demand for vehicles is expected to rise.

Micro-Mobility Industry Dynamics

  • Market Drivers

Owing to the increase in the price of gas and oil due to geopolitical tensions and other factors, the demand for micro mobility systems is high. These vehicles are environment-friendly and cost-effective. Across the world, people are looking for a cheap and clean alternative to conventional fuel and these are important market drivers leading to the increase in the Micro-Mobility Market Size.

Traveling by vehicles saves money and time both. The demand for these vehicles is rising in the urban areas and the Market is anticipated to have significant growth during the forecast period.

Governments of different countries are offering incentives to encourage the use of vehicles. Setting up vehicle lanes, Electric Vehicles Charging Stations, and parking zones are some of the government initiatives that will help in the growth of the Micro-Mobility Industry during the forecast period.

  • Restraints

The extensive Micro-Mobility Market Analysis has revealed that there are certain hindrances for the growth of the Micro-Mobility Industry. Setting up the infrastructure for the System is very challenging. The designing and manufacturing process of a micro-mobile vehicle is very complex. Moreover, these vehicles are not suitable to be used in rural terrain. These are the restraints in the growth of the Market in the coming years.

  • Opportunities

Government initiatives for sharing vehicles and intelligent transportation micro mobility systems used in these vehicles are expected to create new opportunities for the growth of the Micro-Mobility Industry. During the forecast period, the market is expected to have huge investments. According to the Market Report, the key players will invest in this sector which will lead to market expansion and new product development.

  • Challenges

The lack of awareness about vehicles is will also hamper the growth of the Market in the coming years. Lack of product awareness will result in a lesser adoption rate. Additionally, the shared transportation providers occupy a significant Micro-Mobility Market Share but these service providers are restricted mostly to the urban areas. This is a major challenge for the steady growth of the market.

  • Cumulative Analysis

The detailed study of Micro-Mobility Market Trends indicates that the global market of vehicles will have a CAGR of 13 % during the forecast period 2022-2028. The market is estimated to expand up to USD 210 Billion within 2028.

  • Value Chain Analysis

The Market Trends indicate that the value-chain analysis of the market is continuously evolving. The main market driver for this market is increased urbanization. Cost efficiency, increased short-travels, light-weighted vehicles, flexibility, and environment-friendliness are the major drivers for the increase in the Micro-Mobility Market Size during the forecast period.

Market Segmentations

The huge Market is segmented based on types, weight-capacity, travel range, end-users, and region.

Based on the travel range, the Micro Mobility Market is further divided into 20-40 km range and above 40 km range. During the forecast period, the 20-40 km range is expected to occupy the maximum share of the Micro-Mobility Market Revenue. This sector includes vehicles that are lightweight, flexible, easy-to-park, and have better energy conservation.

Based on application, the Market is divided into Commercial and Private. During the forecast period, the commercial sector is expected to grow significantly owing to growth in different industries, reliability of vehicles in traveling short distances, and cost-efficiency.

Based on the weight capacity, the market is divided into up to 100 kg, 100-250 kg, and above 250 kg. The 100 kg sector is expected to have the highest Micro-Market Market Opportunities within the forecast period 2022-2028 due to cost-efficiency, flexibility, wide product range, and increasing customer base.

Based on region, the market is further divided into Europe, North America, Asia-Pacific, and the Rest of the world.

Based on the end-users the sectors of the Micro-Mobility Industry are state & National authority, Micro mobility services, investors/stakeholders, research organizations, and government associations.

By the transport mode, the market of vehicles is segmented into bicycles, electric scooters, shared bicycles, and electric skateboards. The electric scooters segment is expected to grow rapidly within the forecast period owing to flexibility, excellent energy conservation, easy-to-park, and faster traveling within short ranges.

Regional Analysis

Based on the region, the global Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

Due to the higher adoption rate of the vehicles in the North American region, it is expected to show a significant rise in the Micro-Mobility Market Share during the forecast period. The North American region is anticipated to do well during the forecast period.

The Asia-Pacific region of the Micro-Mobility Market is anticipated to show a faster growth rate during the forecast period. Owing to the increased demand for vehicles both in commercial and industrial sectors, the Asia-Pacific region is estimated to earn the highest revenue in the coming years.

Micro-Mobility Market Competitive Analysis

The global Market has moderate competition. With the rise in demands for different types of vehicles in the post-pandemic period, the key players are taking up strategies like mergers, acquisitions, investing in the adoption of new technologies, and innovative products. The key players are expanding their businesses across the globe aiming at the steady growth of the Market.

Market Report Overview

The forecast's market overview is shown below.

  • Market Overview

  • COVID-19 Analysis

  • Market Dynamics

  • Value-Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development

Micro-Mobility Market Report Scope and Segmentation

The scope of the Micro Mobility Market Report is to provide valuable information after doing a detailed study of the market. vehicles are used for short-distance travel. In recent times, these vehicles are considered one of the most sought-after vehicles owing to their sustainable, cost-effective, and eco-friendly features.

  • Study Period- 2022-2028

  • Base Year- 2022

  • Forecast Period- 2022-2028

  • Historical Period- 2020-2021

Market Segmentation

Based on the application

  • Commercial

  • Private

Based on the travel range

  • 20-40 km

  • Above 40 km

By on the type of transport

  • Bicycles

  • Shared bicycles

  • Electric Scooters

  • Electric skateboards

  • Weight capacity

  • Up to 100 kg

  • Between 100-250 kg

  • Above 250 kg

By region

  • Europe

  • North America

  • Asia pacific

  • Rest of the World

By end-users

  • State and national authority

  • Micro mobility services

  • Investors /shareholders

  • Research organizations

  • Government associations

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 210 Billion: 2028
  CAGR   13% CAGR (2022-2028)
  Base Year   2021
  Forecast Period   2022-2028
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By Application, By End Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Yellow Scooters (US), Bird Rides, Inc. (US), Lime Scooter (US), Micro Mobility Systems AG (Switzerland), ofo Inc. (China), Mobike (China), Motivate (Lyft) (US), Pride Mobility Products Corp. (US), EV RIDER LLC (US), Golden Technologies (US), Merits Co. Ltd (Taiwan), Invacare Corporation (US)
  Key Market Opportunities

  • Sustainable, cost efficient, energy efficient, and flexible transportation alternative
  • Increasing road congestion, ease of parking, ease of accessibility as well as excellent energy conversion rates
  •   Key Market Drivers

  • Rising oil & gas prices
  • Excellent energy conversion rates
  • Growing demand for shared and dockless scooters
  • Reduction in emissions
  • Rapidly growing global population
  • Growing e-scooter and e-bike sharing and renting services

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    Frequently Asked Questions (FAQ) :

    The growth rate of the micro-mobility market is expected as 13%.

    The key players of the micro-mobility market are Scoot Network, Beijing Mobike Technology Co. Ltd, LimeBike, Zagster, Spin Scooters, Sway Mobility, Floatility GmbH and Easymile SAS.

    The crucial segment in the market is electric scooters.

    Asia pacific market will dominate the market in the forecast period. It is a region with highest market shares.