How Has the Micro-Mobility Market Evolved Historically and What is its Current Size?
The micro-mobility market has seen considerable growth due to a variety of factors.
• The size of the micro-mobility market has seen a significant increase in the past few years. It is forecasted to escalate from $62.98 billion in 2024 to $75.85 billion in 2025, with a compound annual growth rate (CAGR) of 20.4%. Factors such as urbanization, changes in consumer behavior, economic elements, the effect of COVID-19, and infrastructure growth are believed to have contributed to this growth in the historical period.
What Does Future Hold for The Micro-Mobility Market?
The Micro-Mobility market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the micro-mobility market size is forecasted to experience significant expansion, escalating to $166.8 billion by 2029 with a compound annual growth rate (CAGR) of 21.8%.
The rise anticipated during this forecast tenure can be ascribed to worldwide circumstances and health crises, trends towards health and wellness, changing consumer tastes, integration of data and artificial intelligence, as well as partnership with public transportation. Notable movements expected during the forecast period entail electrification, variety in vehicles, self-governing micro-mobility, emphasis on user-centered design, and initiatives towards a circular economy.
What Are The Primary Growth Drivers In The Micro Mobility Market?
The surge in public transportation usage is predicted to fuel the expansion of the micro-mobility market in the future. Public transport, which involves modes like buses, trains, and metros, allows for collective travel along predetermined courses and facilitates micro-mobility, thereby improving people's transit in populated areas, augmenting personal movement, and offering users easier access to transport services. Moreover, the rapid urbanization process has amplified the need for micro-mobility as the demand for transportation access increases among the growing urban population. For instance, a study by the US Bureau of Labor Statistics in September 2022 revealed that in the USA, the total consumer expenditure on all forms of public and alternative transport increased by 72% in 2021, with expenditures on intercity bus fares and intercity train tickets rising by 87.4% and 40.7% respectively. Consequently, the escalating demand for public transportation signifies a robust push for the micro-mobility market.
What Is The Segmentation Of The Global Micro Mobility Market?
The micro-mobility market covered in this report is segmented –
1) By Type: Bicycles, E-Bikes, E-Kick Scooters, Other Types
2) By Speed: Up To 25 Kmph (Kilometers Per Hour), 25-45 Kmph (Kilometers Per Hour)
3) By Propulsion: Human Powered, Electrically Powered
4) By Sharing Type: Docked, Dock-Less
5) By Ownership: Business To Business, Business To Consumers
Subsegments:
1) By Bicycles: Traditional Bicycles, Folding Bicycles, Cargo Bicycles
2) By E-Bikes: Pedal-Assist E-Bikes, Throttle-Controlled E-Bikes, E-Mountain Bikes
3) By E-Kick Scooters: Standalone E-Scooters, E-Scooter Sharing Systems
4) By Other Types: E-Mopeds, Segways, Electric Skateboards
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What Emerging Trends Are Shaping The Micro Mobility Market Landscape?
Product innovation is rising as a significant trend within the micro-mobility marketplace. Major firms active in this sector are inventing novel products with advanced technologies to establish a competitive niche. For example, LIME, an American shared micro-mobility corporation, rolled out the Gen4 E-bike in January 2022. This electric bike has a switchable, exchangeable battery. It also boasts unique characteristics such as enhanced motor power, a slot for holding mobile phones, a handlebar with display replication, an automatic dual-speed transmission, and a modular construction.
Who Are the Key Players In The Micro Mobility Market?
Major companies operating in the micro-mobility market include:
• Yadea Technology Group Co. Ltd.
• Jiangsu Xinri E-Vehicle Co. Ltd.
• Xiaomi Corp.
• Segway Inc.
• Swagtron
• Airwheel Holding Limited
• Yamaha Motor Co. Ltd.
• Accell Group N.V.
• Derby Cycle AG
• Neutron Holdings Inc.
• Bird Rides Inc.
• ElectricFeel AG
• Beam Mobility Holdings Pte. Ltd.
• Dott B.V.
• Yulu Bikes Pvt. Ltd.
• Voi Technology AB
• Tier Mobility GmbH
• Dynamic
• Helbiz Inc.
• Veo Technologies Inc.
• Razor USA LLC
• Ninebot Inc.
• Gogoro Inc.
• Superpedestrian
• VanMoof
• Cowboy
• Spin
What Are The Regional Insights Into The Micro Mobility Market?
Asia-Pacific was the largest region in the micro-mobility market in 2024. North America is expected to be the fastest-growing region in the micro-mobility market during the forecast period. The regions covered in the micro-mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
