Micro-mobility Market

Market Overview:

The global micro-mobility market size reached US$ 47.56 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 118.38 Billion by 2028, exhibiting a growth rate (CAGR) of 16.01% during 2023-2028. The rising environmental concerns, the escalating demand for compact mobility solutions, and increasing traffic congestion represent some of the key factors driving the market.

Micro-mobility refers to a class of small, lightweight, and low-speed vehicles designed for short distances. Bicycles, electric scooters, e-bikes, electric pedal-assisted bicycles, shared bicycle fleets, and electric skateboards are some of the common micro-mobility vehicles. They are electric or human-powered compact transportation devices that help to reduce traffic congestion. Micro-mobility transportation is widely used for intra-city commuting, recreational activities, and transporting cargo. They are a convenient mode of transportation in smart cities as they need less parking space and occupy minimal road space. These vehicles are also easy to operate, eco-friendly, reduce carbon emissions, and require low maintenance. Micro-mobility is a cost-effective solution that provides better reliability and sustainability, enhances convenience, minimizes travel time, and reduces dependency on public transport.

Micro-mobility Market Trends:

The escalating demand for compact mobility solutions across the globe is one of the key factors driving the market growth. Micro-mobility solutions offer enhanced affordability, lower maintenance, minimum repair costs, excellent maneuverability, and enhanced convenience. In line with this, the increasing adoption of electric micro-mobility vehicles as they are eco-friendly, rechargeable, cost-effective, noise-free, and minimize harmful gas emissions is favoring the market growth. Moreover, the increasing traffic congestion and longer urban commutes are leading consumers to look for alternative ways to reach their destination in the most convenient, affordable, and time-efficient manner, which, in turn, is facilitating the market growth. Apart from this, the widespread utilization of GPS tracking technology that assists rental users in quickly discovering the location of the nearest scooter using a relevant smartphone application is providing an impetus to the market growth. In addition to this, the integration of the Internet of Things (IoT) technology to improve the transportation experience and effectively prioritize and predict the need for vehicle maintenance and repairs, which notably increases the lifespan of micro-mobility vehicles, is acting as another growth-inducing factor. Furthermore, the increasing popularity of on-demand transportation services and the increasing inclination toward convenient pick-up and drop locations are encouraging consumers to opt for ride-sharing services, which is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, increasing establishments of smart cities, growing preference for car and bike pool services, and the implementation of various government initiatives to establish bike-sharing infrastructure and promote the adoption of electric vehicles, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global micro-mobility market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, propulsion type, sharing type, speed, age group, and ownership.

Type Insights:

• Bicycles
• E-Bike
• E-kick Scooters
• Others
   

The report has provided a detailed breakup and analysis of the micro-mobility market based on the type. This includes bicycles, e-bike, e-kick scooters, and others. According to the report, bicycles represented the largest segment.

Propulsion Type Insights:

• Manual
• Electrically-powered
• Hybrid
   

The report has provided a detailed breakup and analysis of the micro-mobility market based on the propulsion type. This includes manual, electrically-powered, and hybrid. According to the report, electrically-powered represented the largest segment.

Sharing Type Insights:

• Docked
• Dock-less
   

The report has provided a detailed breakup and analysis of the micro-mobility market based on the propulsion type. This includes docked and dock-less. According to the report, docked represented the largest segment.

Speed Insights:

• Less than 25 Kmph
• Above 25 Kmph
   

The report has provided a detailed breakup and analysis of the micro-mobility market based on speed. This includes less than 25 Kmph and above 25 Kmph. According to the report, less than 25 Kmph represented the largest segment.

Age Group Insights:

• 15-34
• 35-54
• 55 and Above
   

The report has provided a detailed breakup and analysis of the micro-mobility market based on the age group. This includes 15-34, 35-54, 55, and above. According to the report, 15-34 represented the largest segment.

Ownership Insights:

• Business-To-Business
• Business-To-Consumer
   

The report has provided a detailed breakup and analysis of the micro-mobility market based on ownership. This includes business-to-business and business-to-consumer. According to the report, business-to-consumer represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Asia Pacific was the largest market for micro-mobility. Some of the factors driving the Asia Pacific micro-mobility market included rising expenditure capacities of consumers, increasing development of smart cities, and growing preference for car and bike pool services.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global micro-mobility market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Accell Group N.V., Beam Mobility Holdings Pte. Ltd., Bird Rides Inc., CycleHop LLC, Dott, Lime (Neutron Holdings, Inc), Micro Mobility Systems AG, Neuron Mobility, Segway Discovery Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global micro-mobility market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global micro-mobility market?
• What are the key regional markets?
• Which countries represent the most attractive micro-mobility markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on propulsion type?
• What is the breakup of the market based on the sharing type?
• What is the breakup of the market based on speed?
• What is the breakup of the market based on the age group?
• What is the breakup of the market based on ownership?
• What is the competitive structure of the global micro-mobility market?
• Who are the key players/companies in the global micro-mobility market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the micro-mobility market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global micro-mobility market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the micro-mobility industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.