Micro Mobility Market Growing at a CAGR 18.8% | Key Player – Bird Rides, Inc., Lime Scooter
According to the most recent analysis by Emergen Research, the worldwide micro mobility market is anticipated to reach a market value of USD 290.39 billion in 2028 and show a double-digit CAGR over the forecast period. The rapidly expanding variety of mobility services and vehicles, such as e-bikes, dockless and docked shared bicycles, electric scooters, and electric skateboards are responsible for the market’s robust revenue growth.
The global micro mobility market has a lot of room to grow thanks to ongoing efforts being made around the world to establish smart cities and automotive infrastructure. Additionally, the existence of many service provider firms, along with their investments and development goals, have drawn many owners of small vehicle fleets to work together to support the notion of micro mobility.
The global micro mobility industry is expanding as a result of factors including the growing popularity of on-demand transportation services, government initiatives for smart cities, and an increase in venture capital and strategic investments. However, the low internet penetration rate in developing countries and the rise in bike theft and vandalism are the main challenges impeding the expansion of the worldwide industry. Additionally, it is anticipated that the development of bike-sharing infrastructure and the implementation of intelligent transportation systems would result in a significant number of chances for the expansion of the global micro mobility market.
Key Highlights of Report
In June 2019, Bird Rides announced the introduction of the Bird Cruiser, a new seated electric vehicle that is part of their new electric micro mobility offering. With the introduction of the new electric micro mobility service, more people will have access to eco-friendly alternatives to driving.
In 2019, the residential segment held the biggest market share, with 59.4%. The demand for tiny mobility solutions for usage in residential areas is being driven by factors such as exponentially rising traffic and rapid urbanisation.
Revenue in the 3-wheeler segment is anticipated to increase quickly throughout the projection period, at a CAGR of 19.3%. When compared to two-wheelers, three-wheelers offer better balance, making them a more practical and secure option for travelling farther.
In 2019, the market for micro mobility saw a considerably high revenue share from the segment of up to 20 km. The travel range of up to 20 km is a key advantage that it offers, improving energy efficiency.
In 2019, the market for micro mobility saw a considerably high revenue share from the segment of up to 100 kg. The need for micro mobility solutions with a weight capacity of up to 100 Kg is being driven by a shift in customer preference toward more practical, economical, light-weight, and efficient forms of transportation.
Bird Rides, Inc., Lime Scooter, Micro Mobility Systems Ltd., Ofo Inc., Mobike, Motivate International Inc. (Lyft), Pride Mobility Products® Corporation, Golden Technologies, Uber, and Invacare Corporation are important market participants.
Emergen Research has segmented the global micro mobility market on the basis of application, type, travel range, weight capacity, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
Type Outlook (Revenue, USD Billion; 2021–2028)
Travel Range Outlook (Revenue, USD Billion; 2021–2028)
- Up To 20 Km
- 20-40 Km
- More than 40 Km
Weight Capacity Outlook (Revenue, USD Billion; 2021–2028)
- Up to 100 Kg
- 100-250 Kg
- More than 250 Kg
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Browse Full Report Description + Research Methodology + Table of Content + [email protected] https://www.emergenresearch.com/industry-report/micro-mobility-market
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