Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The "Micro Mobility Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
The global micro mobility market reached a value of nearly $43.6 billion in 2022, having grown at a compound annual growth rate (CAGR) of 12.4% since 2017. The market is expected to grow from $43.7 billion in 2022 to $110.7 billion in 2027 at a rate of 20.5%. The market is then expected to grow at a CAGR of 22.1% from 2027 and reach $300.4 billion in 2032.
This report describes and explains the micro mobility market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from strong economic growth in emerging markets, government support, shift in consumer preference towards mobility services and increasing demand for short-distance commutes. Factors that negatively affected growth in the historic period were safety concern and volatile raw material prices.
Market-trend-based strategies for the micro mobility market include use of artificial intelligence (AI), focus on mobility hubs, focus on strategic partnerships and collaborations and acquisitions to improve their financial strength, product portfolio and geographical presence, focus on multimodal docking and charging stations to offer efficient charging solutions and provide customers with improved convenience, increasing investments to expand and build new products and technologies in the transportation industry and focus on electric micro mobility.
Player-adopted strategies in the micro mobility market include focus on enhancing its business operations through the launch of new products and focus on strengthening its operational capabilities through business expansions.
North America was the largest region in the micro mobility market, accounting for 42.5% of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the micro mobility market will be Asia Pacific and Western Europe where growth will be at CAGRs of 25.1% and 19.7% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 19.3% and 18.3% respectively.
The global micro mobility market is fairly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 18.01% of the total market in 2022. Yadea Technology Group Co. Ltd was the largest competitor with 5.34%% of the market, followed by Xiaomi Corp with 4.15%, Ninebot Ltd with 2.46%, Jiangsu Xinri E-Vehicle Co Ltd with 1.53%, Meituan with 1.03%, Lime Micromobility with 0.96%, Tier Mobility with 0.74%, Pon Holdings with 0.65%, VOI Technology AB with 0.59% and Bird Global, Inc with 0.56%.
To take advantage of the opportunities, the recommends the micro mobility companies to focus on use of artificial intelligence (AI), focus on electric micro mobility, focus on mobility hubs, focus on increasing investments, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on offering services based on consumer preferences.
Opportunity Analysis
- The top opportunities in the micro mobility market segmented by type will arise in the bicycles segment, which will gain $44.0 billion of global annual sales by 2027.
- The top opportunities in the micro mobility market segmented by speed will arise in the up to 25 Kmph (kilometers per hour) segment, which will gain $56.7 billion of global annual sales by 2027.
- The top opportunities in the micro mobility market segmented by propulsion will arise in the electrically powered segment, which will gain $57.9 billion of global annual sales by 2027.
- The top opportunities in the micro mobility market segmented by sharing type will arise in the docked segment, which will gain $38.6 billion of global annual sales by 2027.
- The top opportunities in the micro mobility market segmented by ownership will arise in the business to consumers segment, which will gain $37.7 billion of global annual sales by 2027. The micro mobility market size will gain the most in the USA at $24.9 billion.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value (USD) in 2022 | $43.6 Billion |
| Forecasted Market Value (USD) by 2032 | $300.4 Billion |
| Compound Annual Growth Rate | 21.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Micro Mobility Market Definition And Segmentations
6.4. Market Segmentation By Type
6.4.1. Bicycles
6.4.2. Scooters
6.4.3. Other Types
6.5. Market Segmentation By Speed
6.5.1. Up To 25 Km/H (Kilometers Per Hour)
6.5.2. 25-45 Km/H (Kilometers Per Hour)
6.6. Market Segmentation By Propulsion
6.6.1. Human Powered
6.6.2. Electrically Powered
6.7. Market Segmentation By Sharing Type
6.7.1. Docked
6.7.2. Dock-Less
6.8. Market Segmentation By Ownership
6.8.1. Business To Business
6.8.2. Business To Consumers
7. Major Market Trends
7.1. Use Of Artificial Intelligence (AI)
7.2. Mobility Hubs
7.3. Strategic Partnerships And Acquisitions
7.4. Multimodal Docking And Charging
7.5. Increasing Investments
7.6. Focus On Electric Micro Mobility
8. Micro Mobility Market - Macro-Economic Scenario
8.1. COVID-19 Impact On The Micro Mobility Market
8.2. Russia-Ukraine War Impact On The Micro Mobility Market
8.3. Impact Of High Inflation On The Micro Mobility Market
9. Global Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, 2017 - 2022, Value ($ Million)
9.2.1. Market Drivers 2017 - 2022
9.2.2. Market Restraints 2017 - 2022
9.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Million)
9.3.1. Market Drivers 2022 - 2027
9.3.2. Market Restraints 2022 - 2027
10. Global Micro Mobility Market Segmentation
10.1. Global Micro Mobility Market, Segmentation By Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Micro Mobility Market, Segmentation By Speed, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.3. Global Micro Mobility Market, Segmentation By Ownership, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.4. Global Micro Mobility Market, Segmentation By Propulsion, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.5. Global Micro Mobility Market, Segmentation By Sharing Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
11. Micro Mobility Market, Regional and Country Analysis
11.1. Global Micro Mobility Market, By Region, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
11.2. Global Micro Mobility Market, By Country, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/9jgbja
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