NEW
YORK, June 20, 2024 /PRNewswire/ -- The
global micromobility market size is estimated to grow by
USD 130.47 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 23.31% during the forecast period. Increasing traffic
congestion is driving market growth, with a trend
towards rising use of subscription and membership business
models. However, risk of theft and need for frequent
maintenance poses a challenge. Key market players include Beam
Mobility Holdings Pte. Ltd., Bird Global Inc., Bolt Technology OU,
CITYSCOOT, COOLTRA MOTOS SLU, CycleHop LLC, Dynamic Bicycles Inc.,
Easymile SAS, ElectricFeel AG, emTransit SRL, EV RIDER LLC, Golden
Technologies, Lyft Inc., Merits Health Products, Micro Mobility
Systems AG, Neuron Mobility Pte. Ltd., Neutron Holdings Inc., Pride
Mobility Products Corp., Vulog, and Yulu Bikes Pvt. Ltd..
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Micromobility Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
23.31%
|
Market growth
2024-2028
|
USD 130472.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
18.59
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 51%
|
Key
countries
|
US, China, Canada, UK,
and Germany
|
Key companies
profiled
|
Beam Mobility Holdings
Pte. Ltd., Bird Global Inc., Bolt Technology OU, CITYSCOOT, COOLTRA
MOTOS SLU, CycleHop LLC, Dynamic Bicycles Inc., Easymile SAS,
ElectricFeel AG, emTransit SRL, EV RIDER LLC, Golden Technologies,
Lyft Inc., Merits Health Products, Micro Mobility Systems AG,
Neuron Mobility Pte. Ltd., Neutron Holdings Inc., Pride Mobility
Products Corp., Vulog, and Yulu Bikes Pvt. Ltd.
|
Market Driver
The micromobility market is witnessing a significant shift
towards subscription-based business models. Operators offer monthly
or yearly memberships, granting unlimited or discounted access to
micromobility solutions. This trend fosters user loyalty and
frequent usage, providing a consistent revenue stream for
operators. Companies like Lime and Bird have implemented such
programs, offering unlimited rides on electric scooters and bikes
for a set fee. In a competitive market, this transition ensures
financial stability and enhanced consumer engagement, driving
market growth.
The micromobility market is experiencing significant growth,
with e-bikes and scooters becoming increasingly popular modes of
transportation. Electric bikes and scooters are convenient,
cost-effective, and eco-friendly solutions for short-distance
travel. The trend towards shared mobility services, such as
bike-sharing and scooter-sharing platforms, is driving demand in
this market. Powered two-wheelers, like e-bikes and scooters, offer
flexibility and ease of use, making them attractive alternatives to
cars in urban areas. Additionally, the integration of technology,
such as GPS tracking and mobile apps, enhances the user experience
and convenience. The market is expected to continue growing, with
innovations in design, battery technology, and connectivity driving
future developments.
Research report provides comprehensive data on
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Report
Market Challenges
- The micromobility market is experiencing challenges due to an
escalating issue with bike theft. Despite advanced security
measures, vendors face theft-related hurdles, leading to a scarcity
of bicycles. Customers express dissatisfaction on social media due
to a deficit in available bicycles. Improper riding practices and
frequent maintenance needs further impede market growth. These
factors significantly impact vendors in the global micromobility
market.
- The micromobility market is experiencing significant growth
with the rise of electric scooters and bikes. However, challenges
persist in this sector. Regulations and policies vary widely,
making it difficult for businesses to operate consistently. Battery
life and charging infrastructure are also major concerns.
Additionally, competition is fierce, with numerous players vying
for market share. Safety is another challenge, as accidents have
raised concerns about the use of these vehicles in urban areas.
Micromobility companies must navigate these issues to succeed in
this dynamic market.
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challenges - Request a sample report!
Segment Overview
This micromobility market report extensively covers market
segmentation by
- Propulsion
- 1.1 Human powered
- 1.2 Electrically powered
- Type
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Human powered- Micromobility market refers to
the segment of transportation that includes lightweight vehicles
such as e-scooters, e-bikes, and personal mobility devices. This
market is experiencing significant growth due to increasing
urbanization, traffic congestion, and environmental concerns.
Companies like Bird, Lime, and Spin are leading players, offering
short-term rental services through smartphone apps. The market's
size and growth rate are influenced by factors like government
regulations, consumer preferences, and technological
advancements.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Micromobility Market encompasses various modes of
transportation, including bicycles, electric bikes (e-bikes),
electric scooters (e-scooters and e-kick scooters), electric
skateboards, and low-speed electric vehicles (LSEVs), such as
hoverboards. These modes of transport are increasingly popular in
smart cities, where intelligent transportation systems are being
implemented. However, challenges such as bike vandalism and theft,
as well as damage to batteries (sealed lead-acid, Li-Ion, or NiMH),
pose concerns for the industry. Propulsion types for these vehicles
are electrically powered, making them subject to oil & gas
price fluctuations. The electric bicycle segment and the e-scooter
segment are significant parts of this market. Voltage requirements
vary between different types of vehicles, adding to the complexity
of the market.
Market Research Overview
The Micromobility Market encompasses the production,
distribution, and use of lightweight, low-power transportation
modes, such as electric scooters, bicycles, and personal
transporters. This sector is experiencing significant growth due to
increasing urbanization, environmental concerns, and the need for
efficient last-mile connectivity. The market is driven by
advancements in battery technology, the rise of ride-sharing
services, and government initiatives to promote sustainable
transportation. The integration of IoT and AI technologies is also
transforming the industry, enabling real-time vehicle tracking,
predictive maintenance, and personalized user experiences. The
market is expected to continue its upward trajectory, with a focus
on safety, affordability, and convenience.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Propulsion
-
- Human Powered
- Electrically Powered
- Type
-
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio