What is the global market size of Micro Mobility Market?

Global Micro Mobility Market size was valued at USD 49.3 billion in 2021 and is poised to grow from USD 57.29 billion in 2022 to USD 190.42 billion by 2030, growing at a CAGR of 16.2% in the forecast period (2023-2030).

Micro Mobility Market Size, Share, Growth Analysis, By Battery Type(Lithium-ion, Lithium-ion polymer, Lead acid, Others), By Voltage(Below 24V, 36V, 48V, Greater than 48V), By Speed(Up To 25 kmph, 25-45 kmph, Greater than 45 kmph), By Propulsion(Human Powered, Electrically Powered), By Type(Bicycles, E-bikes, E-kick scooters, Others), By Sharing Type(Docked, Dock-less), By Data Service(Navigation, Payment, Others), By Travel Range(Up to 3 Miles, 3-6 Miles, Greater than 6 miles), By Ownership(Business-to-Business, Business-to-Consumer), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25A2063 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 76

Micro Mobility Market News

In June 2022, Porsche expanded its electric bike business by purchasing new models from the manufacturer of electric bicycles in Germany. The joint venture focuses on the development, production, and distribution of a new generation of high-quality Porsche e-bikes.

In May 2022, Nashville's transit gaps are being filled via public transportation and micro-mobility integration.As a mobility coordinator, the company sees collaborations with micro-mobility providers like Bird as possibilities to broaden its function from just a transit provider to a mobility coordinator.

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Micro Mobility Market size was valued at USD 49.3 billion in 2019 and is poised to grow from USD 57.29 billion in 2023 to USD 190.42 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).

There is a fair amount of competition in the market for micro mobility. However, competition is anticipated to rise significantly in the near future.The micro-mobility market's competitive landscape includes new developments, growth opportunities, and expansion plans. As new products are introduced, the micro mobility market's revenue rate will rise. 'Skip Transportation', ' Lime ', ' Bird ', ' Voi Technology ', ' Tier Mobility ', ' Spin ', ' Razor ', ' Yadea Technology Group Co., Ltd. ', ' Helbiz ', ' Gotcha ', ' Dott ', ' Wheels ', ' Sherpa ', ' Beam ', ' Neuron Mobility ', ' Bolt ', ' Wind ', ' Fiido ', ' Circ ', ' Pony.ai '

The micro-mobility market is expanding, but so has the demand for electric scooters. According to a different source, e-bike sales are expected to increase by around 245 percent in a year in 2021. In a similar vein, it is anticipated that the market economy for renting bikes and scooters will grow to 11,040 million USD by 2028. The market for micro mobility is expected to expand further, according to numerous experts. The majority of experts anticipate that the micro-mobility market will continue to expand. These projections take into account a lot of different things, like the fact that people who live in areas with a lot of people need easy, cheap ways to get around. In addition, the demand for low-cost and micro-mobility travel options is being driven by the resurgence of global tourism following the pandemic. As cities continue to implement micro-mobility solutions, IoT devices, asset management platforms, and green technologies like the solar charging infrastructure appear to be in high demand. Micro-mobility services will likely be available in all major global cities in the coming years.

The significant rise in office-goers' preference for bike pool and carpool services is the driving force behind the growth of ride-sharing and ride-hailing services. Customers are increasingly turning to ride-sharing and ride-hailing services due to the availability of convenient pick-up and drop-off locations and the expansion of services offered by major market players like Ola and Uber. Additionally, the number of ride-sharing and ride-hailing services, including auto-sharing and bike-sharing even for short-distance travel, has significantly fueled the growth of the micro-mobility industry. The rise in the value of gas and oil as a result of economic and geopolitical concerns is driving up the demand for micro-mobility systems. These automobiles are reasonably priced and eco-friendly. There is a worldwide search for an environmentally friendly, low-cost alternative to conventional fuel. These are a few of the main factors that drive the market. Additionally, traveling in micro-mobility vehicles saves time and money. These cars are getting more and more wanted in cities, which is expected to help the market grow.

The Asia Pacific region dominated the market in 2021 and accounted for over 45.0% share of the global revenue. Asia Pacific, Europe, and North America are home to the majority of micro mobility vehicle manufacturers.These companies make money by selling their products all over the world, either through OEM channels or distribution channels.It is anticipated that the establishment of standards and regulations for the infrastructure for vehicle charging by governments of economies like India, China, and Japan will have a beneficial effect on the expansion of the regional market. Over the forecast period, Asia-Pacific is also anticipated to emerge as the region's fastest-growing market.

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