Global Micro Mobility market

Micro Mobility Market Size, Share, Growth Analysis, By Vehicle Type(electric scooters, electric skateboards, and electric bicycles), By Battery type(sealed lead-acid batteries, Nickel-Metal Hydride (NiMH) batteries, and Lithium-ion (Li-ion) batteries), By Voltage(below 24V, 36V, 48V, and greater than 48V), By Region - Industry Forecast 2024-2031


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

Micro Mobility Market Insights

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).

A rapidly developing subfield of transportation, micro-mobility encompasses travel in a variety of light vehicles like electric scooters, electric skateboards, and electric bicycles. During the forecast period, it is anticipated that factors such as increasing road congestion, rising oil and gas prices, ease of parking, and automotive sector saturation will drive market growth. In addition, it is anticipated that new opportunities for micro mobility will emerge in the coming years as a result of factors like the expanding rental and sharing services for electric scooters and bicycles around the world.

Policymakers can place their hopes on electric vehicles because of the implementation of a number of initiatives to mitigate climate change as a result of rising greenhouse gas emissions. As a result, a climate change action plan has been implemented to reduce transportation emissions through the use of environmentally friendly and sustainable transportation options like electric vehicles and public transportation. Additionally, the demand for electric scooters, electric skateboards, and electric bicycles is expected to rise as a result of rising investments in clean energy and government efforts to reduce CO2 emissions.

US Micro Mobility Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 49.3 billion

Largest Segment

Electric Kick Scooters

Fastest Growth

Electric Kick Scooters

Growth Rate

16.2% CAGR

Global Micro Mobility Market ($ Bn)
Country Share for North America Region (%)

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Micro Mobility Market Segmental Analysis

The Micro mobility is segmented on the basis of Vehicle, Battery, Voltage and Region. Whereas, By Vehicle is sub segmented into the electric scooters, electric skateboards, and electric bicycles. By Battery is sub segmented into the sealed lead-acid batteries, Nickel-Metal Hydride (NiMH) batteries, and Lithium-ion batteries. By Voltage is sub segmented into the  below 24V, 36V, 48V, and greater than 48V. By Region is segmented on the basis of North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Micro Mobility Market Analysis by Vehicle Type

Based on the Vehicle type, The electric bicycles segment dominated the market in 2021 and accounted for more than 85% of the global revenue. Because they are the most affordable and convenient alternatives to public transportation, this market is expected to grow at a CAGR of over 14.3% during the forecast period. In an effort to alleviate pressure on public transportation systems, a number of nations are implementing regulatory and subsidy changes to encourage the use of electric bicycles. In addition, electric bicycles are less expensive, easier to charge, and do not necessitate significant infrastructure investments when compared to bus and taxi systems. As a result, there has been a rise in global demand for electric bicycles.

Over the forecast period, the electric scooters market is expected to grow at the second-highest CAGR of 10.3%. Since 2017, the electric scooter-sharing market, which is still in its transition phase, has seen a significant increase in demand for these scooters.

Micro Mobility Market Analysis by Battery Type

Based on the Battery type,The sealed lead-acid battery segment dominated the market in 2021 and accounted for more than 55.0% of the global revenue. Over the forecast period, the market is expected to grow at a CAGR of more than 12.6%. Due to their low price, manufacturers favor these batteries as an alternative. Their easy manufacturing and low self-discharging capacity are also driving their adoption of electric vehicles. However, these batteries are made from highly toxic raw materials that release millions of tons of lead into the environment. Manufacturers have adopted alternative battery options as a result of this negative impact on the environment, resulting in relatively slow segment growth over the forecast period.

The demand for Li-ion batteries has increased as a result of the growing awareness that environmentally friendly batteries, as opposed to sealed-lead acid and NiMH batteries, offer superior performance. The adoption of these batteries has raised the price of electric vehicles in emerging markets due to their high cost in comparison to the other two battery types. The price of Li-ion batteries, on the other hand, is going down because of the growing demand for these batteries and technological advancements. Over the next ten years, it is anticipated that the price of lithium-ion batteries will decrease by 6.5 percent annually, which will have a direct impact on the cost of electric vehicles. As a result, the market is expected to expand rapidly during the forecast period.

Global Micro Mobility Market By Type, 2023 (%)

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Micro Mobility Market Regional Insights

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.

The demographic characteristics of consumers vary by region. Drivers of electric scooters in North America and Europe typically view them more as a way of life, whereas those in Latin America, the Middle East and Africa, and Asia-Pacific use them more as practical means of transportation. A crucial aspect for businesses attempting to keep or acquire new customers is customer satisfaction, which can be gauged by looking at things like performance, the cost of maintenance, and durability. However, when a vehicle is first introduced, vendors focus primarily on two aspects: design/style and specifications.

Global Micro Mobility Market By Region, 2024-2031
  • Largest
  • Fastest

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Micro Mobility Market Dynamics

Micro Mobility Market Drivers

Technological Advancement to Create Lucrative Growth Opportunities

  • 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.

Micro Mobility Market Restraints

Lack of Access and Theft to Hinder Market Growth

  • The growth of the global market for micro-mobility is hampered by an increase in bike theft and damage and a low internet penetration rate in developing nations.

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Micro Mobility Market Competitive Landscape

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.

Micro Mobility Market Top Players Company profiles

  • 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

Micro Mobility Market Recent Developments

  • 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.

Micro Mobility Key Market Trends

  • 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.

Micro Mobility Market SkyQuest Analysis

Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our global micro mobility market analysis, a growing category of transportation known as "micro-mobility" comprises travel on a variety of small, light vehicles such electric scooters, electric skateboards, and electric bicycles. During the projected period, factors such escalating traffic jams, rising gas and oil prices, convenient parking, and saturation in the vehicle industry are anticipated to propel market expansion. Additionally, it is anticipated that in the next few years, new opportunities for micro-mobility will arise as a result of factors like the expanding rental and sharing markets for electric bicycles and electric scooters around the world.

Report Metric Details
Market size value in 2023 USD 49.3 billion
Market size value in 2031 USD 190.42 billion
Growth Rate 16.2%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Vehicle Type
    • electric scooters, electric skateboards, and electric bicycles
  • Battery type
    • sealed lead-acid batteries, Nickel-Metal Hydride (NiMH) batteries, and Lithium-ion (Li-ion) batteries
  • Voltage
    • below 24V, 36V, 48V, and greater than 48V
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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

Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Micro Mobility Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Micro Mobility Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Micro Mobility Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Micro Mobility Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Micro Mobility Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Micro Mobility Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

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 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 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 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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Global Micro Mobility market

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