New York, US, April 27, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Micro-Mobility Market Information by Product Type, Operating Platforms, and Region - Forecast till 2030", The micro-mobility market will expand from USD 89.4 billion in 2022 to USD 210.5 billion by 2030, at a rate of 13% between 2022 and 2030.
Micro-Mobility Market Overview
Micromobility is the term for a group of compact, lightweight cars that are regarded as the best for traveling within a 10-kilometer radius and operating at a maximum speed of 15 mph (25 km/h). This concept encompasses the use of several vehicle types, including bicycles, e-bikes, electric scooters, electric skateboards, shared bicycles, electric pedal assistance bicycles, and others. A growing category of transportation known as "micro-mobility" comprises travel on a variety of small, light vehicles such as electric kick scooters, electric skateboards, and electric bicycles. During the projected period, factors such as escalating traffic jams, rising gas and oil costs, convenient parking, and saturation in the vehicle industry are anticipated to propel the micro-mobility market expansion.
Market Competitive Landscape:
The affluent firms in the micromobility industry are
- Micro Mobility Systems AG (Switzerland)
- ofo Inc. (China)
- Mobike (China)
- Pride Mobility Products Corp. (US)
- Golden Technologies (US)
- Merits Co. Ltd (Taiwan)
- Invacare Corporation (US)
- Among others.
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April 2023
For the biggest single-operator micro-mobility initiative in Canada, the Region of Waterloo has chosen Neuron Mobility as the lead contractor. With the planned phased deployment of 500 specially designed e-scooters and 500 e-bikes throughout the region starting in April 2023, this program is expected to fundamentally alter how people move around. Together with the cities of Cambridge, Kitchener, and Waterloo, Neuron is pursuing this concept.
High Accuracy Location Technology (HALT) and Rapid Geofence Detection (RGD), two cutting-edge technologies intended for curbing pavement riding, will be included in the Neuron fleet that will be deployed in the Waterloo region. Rider and pedestrian safety is ensured by this technology's management control over how e-scooters are used.
Micro-Mobility Market COVID 19 Analysis
The world faced unheard-of economic, humanitarian, and medical issues as a result of COVID-19. Lockdown procedures have reduced the spread but at great economic cost. The automobile and mobility industries are among the most severely impacted on the business side. Lockdown measures and other restrictions have reduced mobility and made many customers unable or reluctant to buy automobiles, following the trend seen in nations where COVID-19 expanded earlier. The disease's quick spread has also had a big influence on the worldwide micromobility market, with a decline in the demand for new cars. To increase sales in the post-COVID-19 period, OEMs and other stakeholders are also using creative business structures.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 210.5 billion |
| CAGR during 2022-2030 | 13.00% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Operating Platforms, and Region |
| Key Market Opportunities | larger road congestion, parking facilities, easy access as well as energy conversion rates |
| Key Market Dynamics | rising e-scooter and e-bike sharing and renting services Government initiatives for sharing vehicles and intelligent transportation |
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Micro-Mobility Market USP Covered:
Market Drivers:
As a result of the numerous measures that have been put in place to slow down climate change as a result of rising greenhouse gas emissions, politicians are now placing their hopes in electric automobiles. As a result, a climate change action plan was put into place with the goal of reducing emissions from transportation by implementing sustainable and environmentally friendly transportation options including public transit and electric automobiles. Furthermore, the demand for electric kick scooters, electric skateboards, and electric bicycles is anticipated to increase as a result of increased expenditures in clean energy and government measures to reduce CO2 emissions.
For the implementation of micromobility, several governments are establishing rules, goals, and policies; enticing OEMs and other industry participants to actively participate in the sector; and fostering confidence by enacting investment and policy frameworks. For instance, Canada has legalized the use of electric kick scooters. They often don't need a license, insurance, or number plates to drive in Canada. Similar to this, electric kick scooters are legal on American roadways despite the absence of bicycle lanes as long as they don't go above the 25-mph speed limit.
Electric kick scooters are subject to different regulations in several U.S. states. Additionally, end users may now go to the city at a reasonable price using micromobility cars. Commuting is made easier for commuters because to sleek design, which also helps cut carbon emissions and traffic jams. Some of the main factors accelerating the adoption of micro-mobility cars are those already stated. The electric kick scooter sharing companies are concentrating on growing their footprint in both undeveloped and competitive sectors as the shared micro-mobility service business is now undergoing fast development and is in a transition period.
Market Restraints:
The constraints limiting the growth of the worldwide micro-mobility market are the low internet penetration rate in underdeveloped nations and the surge in bike theft and vandalism. Having said that, it is likely that the expansion of bike-sharing infrastructure and the implementation of intelligent transportation systems would increase government efforts and open up a variety of chances for the global micromobility industry to expand.
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Micro-Mobility Market Segmentation
By Application
Commercial and Private are the top applications of micromobility.
By Type
Bicycles, Shared bicycles, Electric Scooters, and Electric skateboards are the types of micro-mobility market.
By Weight capacity
Up to 100 kg, Between 100-250 kg, and Above 250 kg are the weight capacity-based segments covered in the study.
By End-User
State and national authority, Micro mobility services, Investors /shareholders, Research organizations, and Government associations are the major industry end-users.
Micro-Mobility Market Regional Insights
With a market value of USD 79.2 billion in 2021 and a CAGR of 13% throughout the appraisal period, North America emerged as the biggest micromobility market. This is linked to an increase in urban population and a better urban infrastructure that facilitates more frequent public transportation. The micro-mobility market in the United States grew the quickest in the area, while the Canadian market had the biggest market share.
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The micro-mobility market will expand most quickly in Asia-Pacific during the anticipated timeframe. The Asia-Pacific will generate the highest revenues over the projection period because of the growing demand for automobiles in all industries. Additionally, China's micro-mobility sector had the biggest market share, while Asia-Pacific's micro-mobility industry in India was expanding at the quickest rate.
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