Micromobility is a rapidly expanding transportation sector that includes commuting on a range of lightweight vehicles such as electric scooters, electric skateboards, and electric bicycles. During the projected period, factors such as increased traffic congestion, rising oil and petrol prices, convenience of parking, and saturation in the vehicle industry are expected to fuel market expansion. Furthermore, factors such as the global expansion of e-bike and e-scooter rental and sharing services are projected to generate new prospects for micro-mobility in the future years. During the forecast period, the micromobility market is expected to grow at a CAGR of 17.5%.
Micromobility Market Dynamics:
Since 2015, stakeholders have invested more than $5.7 billion in micro mobile start-ups, with more than 85% focusing on China. The micromobility market has a strong client base and is growing at a rate that is two to three times faster than car sharing or carpooling. Several micro-mobility start-ups, for example, have total valuations in excess of $1 billion within a few years. This fast growth is the result of two factors. To begin, the majority of shared micromobility launches occur in enabling contexts. Consumers in cities have evolved to value and use shared mobility alternatives such as car sharing, carpooling, and email.
Micromobility Market Overview:
Micromobility Market Research Report examined the current state of definitions, classifications, applications, and the structure of the industrial chain.The market analysis includes objective professional commentary on the current market condition, historical market performance, production and consumption rates, demand and supply ratios, and income generation estimates for the projected term. The Micromobility Market report also provides information on the industry's main businesses' strategic aspirations and company growth strategies. To summarise what has been mentioned thus far, the report presents a detailed picture of the Micromobility market on both a national and regional scale.
Micromobility Market size was valued at US$ 44.59 Billion in 2022 and the total Micromobility Market revenue is expected to grow at 17.5% through 2023 to 2029, reaching nearly US$ 137.89 Billion.
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Micromobility Market Segmentation:
The micromobility market is classified into three categories: electric kick scooters, electric skateboards, and electric bicycles. By 2020, the electric bicycle sector would have dominated the market, accounting for more than 85% of global sales. As the cheapest and most convenient option to public transit, the market is predicted to grow at a CAGR of more than 14.3% throughout the projection period. Some countries are striving to increase the use of electric bicycles, reducing the pressure on public transit through legal and subsidy adjustments. Furthermore, when compared to other modes of transportation such as buses and taxis, electric bicycles are easier to charge, less expensive, and do not necessitate a big investment in infrastructure.
During the projected period, the electric scooter segment is expected to exhibit the second highest CAGR of 10.3%. Demand for these scooters has surged since 2017 as a result of significant investment by companies in the shared electric scooter market while it was still in its early stages. With the introduction of global businesses such as Uber Technologies, Inc., Bird, Inc., Lyft, and Lime in the on-demand transportation industry, the scooter sharing market is presently undergoing dynamic development.
Micromobility Market Regional Analysis:
The Micromobility segment of the Micromobility The market research contains particular market-affecting aspects as well as changes in market regulation that impact the market's current and future trends. New sales, replacement sales, national demographics, regulatory acts, and import-export taxes are some of the major indicators utilised to estimate the Micromobility market scenarios for different locations. Furthermore, the Micromobility the market report provides the existence and availability of brands, as well as the challenges they face due to strong or weak competition from local and domestic brands, as well as the influence of sales channels, which are all taken into account when providing forecast analysis of national data.
Micromobility Market Key players:
Yadea Technology Group Co., Ltd. (China)
JIANGSU XINRI E-VEHICLE CO., LTD. (China)
Xiaomi (China)
SEGWAY INC. (USA)
SWAGTRON (USA)
Boosted USA (USA)
Airwheel Holding Limited (USA)
YAMAHA MOTOR CO., LTD. (Japan)
Accell Group (Netherlands)
Derby Cycle (Germany)
Beam Mobility Holdings PTE. Ltd (Singapore)
Bird Rides (USA)
DOTT (Netherlands)
Electricfeel (Switzerland)
Floatility GmbH (Germany)
Lime (USA)
Neuron
VOI
Yulu Bikes Pvt. Ltd (China)
Micromobility Market research report offers:
- The Micromobility a market research report offers a variety of information, such as market dynamics, scenarios, and prospects for the forecast period.
- Segments and subsegments contain quantitative, qualitative, value (USD Million), and volume (Units Million) statistics.
- Demand and supply trends, as well as their impact on the Micromobility market, are captured in data at the regional, sub-regional, and country levels.
- A share of key companies, new breakthroughs, and approaches have been incorporated in the competitive landscape.
- Important financial data, recent breakthroughs, SWOT analysis, and strategies of the Micromobility industry participants.
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