Micromobility Market

Market Overview

The micro-mobility market is rapidly expanding, driven by increasing urbanization, the need for sustainable transportation solutions, and advancements in technology. Micro-mobility solutions, including e-scooters, e-bikes, and shared bicycles, offer an efficient and eco-friendly alternative to traditional transportation modes for short-distance travel. These options are particularly popular in densely populated urban areas where traffic congestion and pollution are significant issues. The convenience, cost-effectiveness, and environmental benefits of micro-mobility are attracting a growing number of users and prompting cities to invest in infrastructure to support these modes of transportation. The integration of smart technologies, such as GPS tracking and mobile apps for ride-sharing and rentals, further enhances the user experience and operational efficiency of micro-mobility services. Additionally, the micro-mobility market is witnessing substantial investments from both public and private sectors, aiming to accelerate the development and adoption of these solutions. Governments are implementing policies and regulations to promote sustainable transportation, including the development of dedicated lanes and parking spaces for micro-mobility vehicles. At the same time, private companies are focusing on innovations to improve battery life, safety features, and overall vehicle performance.

Micromobility Market Size

Report	Details
Market Size Value	USD 3.45 Billion in 2023
Market Size Value	USD 9.62 Billion by 2032
CAGR	12.75 %
Forecast Period	2023-2030
Base Year	2023
Historic Data	2020

Top key players are Yellow Scooters, Bird Rides Inc., Lime Scooter, Micro Mobility Systems AG, ofo Inc.,  Mobike, Motivate (Lyft), Pride Mobility Products Corp.,  EV RIDER LLC,  Golden Technologies, Merits Co. Ltd, Invacare Corporation, Segway, Inc., Ninebot Limited, Lime Electric Bikes and Scooters,  Scoot Networks, Uber Technologies Inc., Lyft Inc., TIER Mobility GmbH. Market players are focusing on product advancements, such as user-friendly designs.

Increasing demand for the on-demand public transportations:

The growing demand for on-demand public transportation services is transforming the micro-mobility market. Urban population growth and increasing congestion in cities are driving the need for efficient and sustainable transportation options. Micro-mobility solutions like e-scooters, e-bikes, and shared bicycles have become popular alternatives, especially for short-distance city trips. This trend is fueled by factors such as convenience, affordability, and environmental awareness, leading more commuters, tourists, and city residents to adopt micro-mobility as part of their daily travel routines. Furthermore, advancements in technology are playing a crucial role in expanding on-demand micro-mobility services. These innovations streamline vehicle location and access while improving fleet management and optimization. As cities invest in infrastructure to support micro-mobility and regulatory frameworks adapt to accommodate these services, the market for on-demand public transportation is poised for further growth, revolutionizing urban transportation.

Market Dynamics:

Market Drivers:

• Increasing demand for the on-demand public transportations
• Increase in strategics investments and venture capital
• Government initiatives for smart cities

Opportunities:

• Expansions in developing markets
• Technological advancements in vehicles and batteries
• High demand for short-range vehicles

Technological Advancements in vehicles and batteries:

The micro-mobility industry is experiencing substantial growth due to technological improvements. One of the most significant changes has been the switch to lithium-ion batteries from sealed lead-acid batteries, which are heavier, have a greater energy density, and have longer life cycles. Innovations like swappable batteries increase the operating efficiency of micro-mobility fleets by decreasing downtime for charging. Furthermore, e-bikes and scooters now function better and require less maintenance because of advancements in motor efficiency and modular vehicle designs. Real-time data gathering and administration are made easier by connectivity capabilities like IOT integration and remote diagnostics, which improve fleet operations and user experience. There have also been notable improvements in terms of safety and user ease. Improved lighting, visibility features, and braking systems are increasing rider safety. Vehicle readiness is becoming simpler because of advancements in charging infrastructure, like quick charging stations and wireless charging. Additionally, fleet management is being improved and the possibility of semi-autonomous cars is explored through integration of AI and autonomous technology. Micro-mobility solutions are becoming more and more popular because of these technological advancements, which makes them an essential part of sustainable urban transportation.

North America dominates the market for micromobility market:

North America has established itself as a dominant force in the micromobility market, supported by various factors that contribute to its leadership position. The region benefits from advanced infrastructure, a high level of urbanization, and a strong emphasis on technological innovation. These factors create a conducive environment for the growth of micromobility solutions such as electric scooters, bicycles, and shared mobility services. Moreover, North America's regulatory frameworks and supportive policies have encouraged investment and development in the micromobility sector, further solidifying its dominance in the market. On the other hand, the Asia-Pacific region emerges as a leading market in the global micromobility landscape. With rapidly growing economies, increasing urbanization, and a large population base, the Asia-Pacific region presents immense opportunities for micromobility providers. Countries like China, India, and Southeast Asian nations have witnessed a surge in demand for sustainable and convenient transportation options, driving the adoption of electric scooters, bikes, and other micromobility solutions.

Lithium-Ion batteries leading segment holds the largest market share:

Lithium-Ion (Li-Ion) batteries have emerged as the leading segment in the micromobility market, revolutionizing the way electric scooters, bikes, and other small vehicles are powered. The dominance of Li-Ion batteries can be attributed to several key factors. Firstly, Li-Ion batteries offer a high energy density, which allows them to store a significant amount of energy in a compact and lightweight form. This makes them ideal for micromobility applications where space and weight are crucial considerations. Additionally, Li-Ion batteries have a longer lifespan compared to other battery technologies, providing reliable and durable power sources for micromobility vehicles. Another factor contributing to the leadership of Li-Ion batteries in the micromobility market is their rechargeability. Li-Ion batteries can be recharged multiple times without experiencing significant degradation in performance, making them cost-effective and sustainable solutions for electric vehicles. The ability to recharge quickly is also a notable advantage, allowing users to get back on the road with minimal downtime. Furthermore, ongoing advancements in Li-Ion battery technology, such as improvements in energy density and safety features, continue to enhance their appeal in the micromobility sector.

Segmentations analysis of micromobility market: -

Major  market segments:

• By Vehicle type:

• Electric Kick Scooters
• Electric Skateboards
• Electric Bicycle
   
• By Battery:
• Sealed Lead Acid

• NiMH
• Lithium-Ion
   
• By Application:
• Commercial
• Private
• Others
   
• By End user:
• State and National Authority
• Micro Mobility Services
• Investors
• others

• By Region:
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific

• China
• Japan
• South Korea
• India
• Thailand
• Indonesia
• Malaysia
• Vietnam
• Australia & New Zealand
• Rest of Asia Pacific
  • Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Nigeria
• Egypt
• Israel
• Turkey
• Rest of MEA

Recent Developments

• In March 2022, Lime entered into a partnership with Aspiration, centering on a sustainability-as-a-service platform. This collaboration aims to provide riders with an effortless, automated means to combat climate change. Through the partnership, the company is committed to furthering decarbonization efforts by supporting the planting of a tree for every ride, facilitated by Aspiration's reforestation initiatives.
• In February 2022, Helbiz, a micromobility company, initiated a partnership with the buy now, pay later (BNPL) company Klarna. This collaboration offers riders the freedom to choose their payment methods for trips and supports Helbiz in expanding accessibility to new mobility choices for a broader audience.

Answers to Following Key Questions:

• What will be the micromobility market’s trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the micromobility market?
• What are the main forces behind worldwide micromobility market? Which companies dominate micromobility market?
• Which companies dominate micromobility market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global insight engines industry's suppliers' opportunities and dangers in micromobility market?
• What is the insight engines industry's regional sales, income, and pricing analysis? In the micromobility market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the micromobility market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for micromobility market?
• What are the dominant revenue-generating regions for micromobility market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main micromobility market trends that are influencing the market's expansion?
• Which key product categories dominate micromobility market? What is micromobility market’s main applications?
• In the coming years, which micromobility market technology will dominate the market?