New York, NY, April 11, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Micro-Mobility Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Kick Scooters, Electric Skateboards, and Electric Bicycles); By Battery; By Voltage; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global micro-mobility market size/share is anticipated to be valued at approximately USD 3.45 Billion in 2022 and is projected to hit a revenue of around USD 11.26 Billion By 2032, at a CAGR of around 12.6% between 2023 and 2032.”
What is Micro-Mobility? How Big Is Micro-Mobility Market Size/Share?
- Report Overview
Micro-mobility is a category of compact and light vehicles typically driven by individuals at speeds below 25 km/h (15 mph). Micro-mobility devices include electric bicycles, e-bikes, scooters, skateboards, shared bicycle fleets, and pedal-assisted electric bicycles. The micro-mobility market sales are driven by several factors, including the rapid increase in road congestion, rising oil and gas prices, high saturation in the automotive industry, and the ease of parking compared to other vehicles.
Micro-mobility is an evolving field of transportation that encompasses travel through a range of light electric vehicles, such as electric bicycles and kick scooters. As a result, many manufacturers across the globe are introducing their electric light vehicles with innovative features and functions, creating opportunities for the potential micro-mobility market growth as it undergoes a transition phase.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Market Factors Covered in the Report
- The research encompasses an analysis of the factors driving, inhibiting, and creating opportunities within the industry.
- The report presents an impartial viewpoint on the market's performance.
- The publication brings to light current trends and developments within the industry.
- The report offers an in-depth understanding of the competitive landscape and strategies significant market players implement.
- The research identifies potential and niche segments and regions with promising growth prospects.
Some of the Top Companies Covered in this Report:
- Yadea Technology Group.
- JIANGHU XINRI E-VEHICLE
- Xiaomi
- SEGWAY.
- Boosted USA
- YAMAHA MOTOR.
- Accell Group
- Derby Cycle
- Bird Global
- Motherson Sumi Systems
- Central Glass.
- TIER
- Fuyao Glass Industry
- Raine Scooters
- Skip Transportation
- Unagi Scooters
- Easymile
To Know More Information on Key Players, Request to Download a PDF Report Brochure: https://www.polarismarketresearch.com/industry-analysis/micro-mobility-market/request-for-sample
Market Dynamics
- Prominent drivers of the market
The market for micro-mobility is being driven by various factors, including increasing awareness among people worldwide about the advantages of micro-mobility. This includes the benefits of greater versatility, seamless app connectivity, higher investment in research and development, and increased durability. Additionally, there have been rapid technological advancements and innovations in micro-mobility devices, such as integrating battery sweeping technology to improve quality and reduce downtime.
Furthermore, the trend of data monetization, artificial intelligence, and connected ecosystems is gaining traction globally. This is particularly relevant in addressing issues related to connectivity infrastructure, advanced driver assistance systems, bike theft and vandalism, and cloud platforms for numerous service providers. These developments are expected to grow the micro-mobility market share shortly.
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Recent Micro-Mobility Market Trends
- Data monetization, artificial intelligence, and connected ecosystems are gaining traction globally.
- Battery sweeping technology is being developed and adapted into micro-mobility devices to improve quality and reduce downtime.
Segmentation Assessment Outlook
- The electric bicycle category had the highest market share in 2022
Based on vehicle type micro-mobility market segmentation, the electric bicycles segment dominated the market due to its affordability and convenience as a mode of transportation. With low operational costs, environmental sustainability, and minimal maintenance requirements, it offers an attractive alternative to public transportation. Moreover, governments worldwide are encouraging the use of electric bicycles through subsidies and regulations aimed at reducing greenhouse gas emissions and alleviating the burden on public transportation systems.
- Sealed lead acid battery sector witnessed the largest revenue share in 2022
The segment's growth and adoption are driven by prominent factors such as cost-effectiveness, low self-discharging capability, and ease of manufacturing. This leads to a high preference for these batteries among large manufacturers. The reliability and sustainability of these batteries make them suitable for consumer and industrial applications. With the rise in electrical equipment like mobile phones and laptops, the segment is expected to grow further.
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Micro-Mobility Market: Report Scope & Coverage
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 11.26 Billion |
| Market size value in 2023 | USD 3.87 Billion |
| Expected CAGR Growth | 12.6% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Yadea Technology Group Co. Ltd., JIANGHU XINRI E-VEHICLE Co. Ltd., Xiaomi, SEGWAY INC., Boosted USA, YAMAHA MOTOR Co. LTD., Accell Group, Derby Cycle, Bird Global Inc., Motherson Sumi Systems Limited, Central Glass Co. Ltd., TIER, Fuyao Glass Industry Group, Raine Scooters, Skip Transportation, Unagi Scooters, and Easymile SAS. |
| Segments Covered | By Vehicle Type, By Battery, By Voltage, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- Asia Pacific is poised to experience a substantial increase in demand
Micro-mobility market demand in the Asia Pacific region is anticipated to have the highest growth rate, mainly due to the strong presence of the world's largest micro-mobility manufacturers, who are making efforts to promote and encourage electric vehicles through campaigns and programs. The region's large population base, particularly in countries like India and China, is also a contributing factor.
The governments of many emerging economies are also implementing numerous standards and regulations for vehicle charging infrastructure, which is expected to positively impact market growth in the region. In 2022, North America had the highest market revenue share and was projected to maintain its dominance during the study period.
Browse the Detail Report “Micro-Mobility Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Kick Scooters, Electric Skateboards, and Electric Bicycles); By Battery; By Voltage; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/micro-mobility-market
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Recent Developments
- McLaren's Micro Mobility Brand unveiled the launch of its series 1 EV scooter in December 2022, featuring a one-touch Flowfold system and incorporating the company's legacy in premium automotive and motorsport with their expertise in science and engineering.
Frequently Asked Questions
- How much is the market worth?
- Who are the key players that manufacture & distribute in the market?
- Which region is expected to have the highest growth over the coming years?
- What are the various trends in the market?
- What are the prominent growth drivers of the market?
- What recent developments are contributing to the market’s growth?
Polaris Market Research has segmented the micro-mobility market report based on vehicle type, battery, voltage, and region:
By Vehicle Type Outlook
- Electric Kick Scooters
- Electric Skateboards
- Electric Bicycles
By Battery Outlook
- Sealed Lead Acid
- NiMH
- Li-ion
By Voltage Outlook
- Below 24V
- 36V
- 48V
- Greater than 48V
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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