The global micro mobility market experienced substantial growth in 2020 and is projected to continue expanding at a double-digit revenue compound annual growth rate (CAGR) throughout the forecast period. This growth can be attributed to several factors driving the market’s revenue expansion. Firstly, there is a growing inclination towards shared mobility, where individuals are increasingly opting for shared modes of transportation rather than owning personal vehicles. This trend is fueled by the convenience and cost-effectiveness offered by shared micro mobility solutions such as e-scooters, bike-sharing systems, and electric mopeds.
Furthermore, there is an increasing focus on eco-friendly modes of transportation. As environmental concerns become more prominent, people are seeking alternative transportation options that have a lower carbon footprint. Micro mobility solutions, particularly electric-powered ones, align with these sustainability goals and are perceived as greener alternatives to traditional vehicles. The shift towards eco-friendly transportation options is expected to drive the demand for micro mobility services, consequently boosting market revenue.
Additionally, the need for time- and cost-efficient travel modes in congested urban areas is driving the adoption of micro mobility solutions. With increasing urbanization and growing traffic congestion, micro mobility options provide a practical solution for navigating through crowded city centers. E-scooters and other compact micro mobility vehicles offer agility and flexibility, allowing commuters to reach their destinations quickly and efficiently. As a result, the demand for micro mobility services is expected to surge in congested areas, contributing to market revenue growth.
Moreover, the development of proper infrastructure for micro mobility is a key factor expected to support the market’s expansion. Governments and urban planners are recognizing the importance of accommodating micro mobility solutions and are investing in the necessary infrastructure, such as dedicated lanes, charging stations, and parking facilities. These infrastructure developments create a favorable environment for micro mobility providers and encourage the adoption of their services.
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The market for micro mobility devices is expected to experience revenue growth due to several key factors. These factors include increasing durability, enhanced versatility, seamless app connectivity, and higher speeds. Technological improvements and rapid innovations in micro mobility devices have led to the development of portable and effective means of travel.
One of the reasons for the growing popularity of micro mobility is the range of benefits they offer. These include zero emissions, which contribute to environmental sustainability, and higher efficiency compared to traditional modes of transportation. Micro mobility devices, such as e-bikes and e-scooters, provide convenient and efficient transportation options for short-distance travel in urban areas.
To enhance the convenience and quality of their devices, major micro mobility manufacturers are focusing on developing and integrating battery-swapping technology. This technology allows users to easily replace depleted batteries with fully charged ones, reducing downtime required for charging. Battery-swapping also helps maintain strong battery life, ensuring that micro mobility devices can operate for longer periods without interruption.
Furthermore, the development of vehicle-to-grid (V2G) platforms has contributed to the adoption of e-bikes and e-scooters. V2G platforms enable bidirectional energy flow between electric vehicles and the power grid. This technology allows micro mobility devices to not only draw power from the grid but also feed excess energy back into it. V2G platforms enhance the overall efficiency and sustainability of micro mobility solutions and are expected to drive further market growth in the future.
In summary, the market for micro mobility devices is experiencing growth due to factors such as increasing durability, enhanced versatility, seamless app connectivity, and higher speeds. The adoption of battery-swapping technology and the development of vehicle-to-grid platforms are also contributing to market growth by improving convenience, reducing downtime, and promoting sustainability in micro mobility solutions.
Type Outlook (Revenue, USD Billion; 2018-2028)
- 2-Wheeler
- 3-Wheeler
- Others
Weight Capacity Outlook (Revenue, USD Billion; 2018-2028)
- Up to 100 kg
- 100-250 kg
- Above 250 kg
Travel Range Outlook (Revenue, USD Billion; 2018-2028)
- Up to 20 km
- 20-40 km
- Above 40 km
Application Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Commercial
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Regional Markets Highlighted in the Global Micro Mobility Market Report:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of Middle East & Africa
Top Companies Profiled in the Report:
Marble, Easymile SAS, Mobike, Hello Bike, Lime Scooter, Bird Rides, Inc., Ofo, Inc., Skip Transportation, Bolt, Beam, Cityscoot, Unagi Scooters, Yellow, Raine Scooters, Joyride, and Raido
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