Micromobility Market Size, Share, Analysis, Growth Report, 2032

Micromobility Market Insights

According to the report published by Zion Market Research, the global Micromobility Market size was valued at USD 3.84 Billion in 2023 and is predicted to reach USD 11.34 Billion by the end of 2032. The market is expected to grow with a CAGR of 12.8% during the forecast period. The report analyzes the global Micromobility Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Micromobility industry.

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Global Micromobility Market: Overview

Micro mobility refers to lightweight and small vehicles operating effectively at a speed less than 15 mph. Such vehicles are considered ideal for traveling within the range of 10 km. Such a range of vehicles includes electric pedal-assisted bicycles, shared bicycles, electric skateboards, electric scooters, e-bikes, and bicycles. Miniaturization of vehicles for short journeys is micro mobility.

Global Micromobility Market: Growth Factors

The global micromobility market is driven by the continuous effort of the government to develop smart cities and smart vehicle infrastructure globally. The growing government initiatives for developing bike-sharing stations and substations to scale the reach of people to bike-sharing infrastructure will enhance the market. Furthermore, people prefer to use such services due to the high traffic congestion and increased fuel prices in urban areas. In many regions, governments are now developing bike charging infrastructures, parking zones, and dedicated bike lanes to promote the shared transport services. The presence of a large number of service providers along with high-end development strategies also attracts several small vehicle fleet owners to work unanimously on the concept of micro-mobility. The rise in the trend of on-demand transportation services is likely to supplement the growth of the global micromobility market.

The on-demand micro-mobility services include e-scooters and e-bicycles that offer several features like tracking of vehicles, real-time feedback, enhanced flexibility, and effective ratings to the end customers. Furthermore, the availability of such effective vehicles and the facility to compare fares with the correspondent facilities with the help of mobile applications will also propel the demand for micro-mobility. However, these services will also permit customers to avail several convenient functions. In addition, micro-mobility with connected mobile applications helps in finding the precise locations of customers and also matches the demand with available factors, which in turn will also drive the demand for micro-mobility.

The emergence of the intelligent transportation system and the development of bike-sharing infrastructure are likely to create several lucrative growth opportunities in the global micromobility market. The growing preferences for bike pool and carpool services among office commuters is another key factor augmenting the growth of ride-hailing and sharing services. The emergence of giant companies offering shared services like Ola and Uber, which also offer the options to choose pickup and drop locations further supplements the growth of the market. Due to such services, a large number of people are now availing themselves of multiple ride-hailing services for short distances.

Also, the doorstep pickup and drop services along with the option for availing information of co-passengers are some of the added services that attract people to adopt shared travel services. In addition, the monthly discounts, offers, and passes also reduce the daily expenses, and thereby people prefer to adopt such micro-mobility vehicles instead of individual commuter vehicles. The vandalism and theft of bikes are at the brim and thereby dockless operations have flourished significantly. Vehicle emissions like CO2, NOX, and several others fuel the global warming and carbon footprint which has emerged as a key concern among governments globally. Electric vehicles are regarded as zero-emission makers and thereby help in lowering vehicle emissions. There is a significant spike in the investment in micro-mobility transport vehicles by the government and several prominent leaders to support the growth of the global micromobility market.

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Global Micromobility Market: Segmentation

The global micromobility market can be segmented into age group, sharing type, vehicle type, propulsion type, and region.

By age group, the market can be segmented into 55 and above, 35 to 54, 15 to 34.

By sharing type, the market can be segmented into dockless and docked.

By vehicle type, the market can be segmented into skateboards, bicycles, scooters, and others.

By propulsion type, the market can be segmented into electrically powered and human-powered devices.

Micromobility Market: Report Scope

Global Micromobility Market: Regional analysis

North America accounts for the largest share in the global micromobility market due to the presence of prominent market leaders in the region. Furthermore, the growth in awareness among people regarding the benefits offered by micro-mobility for both the environment and to humans will also support the growth of micro-mobility in the region. The growing efforts from the government to reduce vehicle emissions by promoting micro-mobility and ride-sharing solutions in the region will also accentuate the growth of the regional market.

Asia Pacific is likely to be the fastest-growing region in the global micromobility market due to the growth in strategic partnerships and alliances to bring micro-mobility to the region. Also, the emergence of several startups offering micro-mobility solutions will promulgate the growth of the regional market. The growing traffic congestion in regions like China is likely to escalate the growth of the regional market significantly in the forthcoming years.

Global Micromobility Market: Competitive Players

Some of the significant players in the global micromobility market are

• Sway Mobility
• Skip Transportation
• Micro Mobility Systems
• Floatility GmbH
• Zagster
• Yulu
• VOI
• Neuron Mobility
• Lime
• Dott
• Electricfeel
• Bird
• Beam Mobility Holdings
• And Others

The report segments the micromobility market as follows:

By Age Group

• 55 and above
• 35 to 54
• 15 to 34

By Organization Size

• Small & Medium Enterprises (SMEs)
• Large Enterprises

By Sharing Type

• Dockless and Docked

By Vehicle Type

• Skateboards
• Bicycles
• Scooters
• And Others

By Propulsion Type

• Electrically Powered
• Human-Powered Devices

Global Micromobility Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.