Market Overview 

The Global Micro-Mobility Market generated revenue of US$ 3,111.8 million in 2022 and is estimated to reach a valuation of US$ 10,485.8 million by 2031 at a CAGR of 15.3% during the forecast period, 2023–2031.

The micro-mobility industry is a rapidly growing market with a wide range of opportunities for businesses. The industry is defined by the use of small, lightweight personal transportation devices such as scooters, bicycles, and skateboards, which are typically used for short distances, providing a convenient and cost-effective alternative to traditional forms of transportation.

The impact of the micro-mobility market on cities around the world is already becoming apparent. Electric scooter companies, for example, have become a common sight in cities like San Francisco, revolutionizing the way people move around. Additionally, the industry is expanding beyond just personal transportation, with companies using electric bicycles for food and package deliveries, and even electric skateboards for commuting in some parts of China.

As the market is still in its early stages, there are many opportunities for entrepreneurs to enter the market and make a significant impact. However, there are also challenges that need to be addressed, such as regulations and infrastructure. But with the growing popularity of micro-mobility, the future of this industry looks very promising. 

To Get more Insights,  Request A Free Sample 

Key Dynamics of Micro-Mobility Market

Drivers

Growing Trend for On-Demand Transportation Services

The travel and transportation industry has been positively impacted by the growth of the on-demand economy in recent years, particularly in urban areas with a growing population and increased employment opportunities. The rise of micro-mobility initiatives, such as bike and scooter sharing, is also driven by a focus on smart city projects.

On-demand services, such as car-sharing clubs, real-time ride-sharing, on-demand car and bicycle rental, and navigation applications, allow customers to access resources as needed and pay only for their usage. These services are typically facilitated through IT platform providers, such as MOL Bubi's shared bicycle system, which can be accessed and used indefinitely through a card or mobile application.

Sustainability is also a prominent trend in the ride-sharing sector, with an increasing focus on car-sharing, electric and autonomous vehicles, and micro-mobility options. This shift reflects the projected future growth of urban mobility, where there will be fewer car owners and greater reliance on shared transportation options.

Restraint

Low Internet Penetration in Remote or Developing Areas

Using technological advancements and operational efficiency, micro mobility market is quickly gaining popularity in countries all over the world by reducing traffic congestion and pollution. However, due to high financial requirements, the cellular IoT is not as widely adopted in many developing countries or remote areas of the world, which is a problem for the micro mobility sector. In Europe, one-hundred and 77% of people live in rural and small-town areas. Accessibility problems to cellular Internet of Things (IoT) solutions, such as 4G & 5G plague these communities. As a result, smart city environments are the only ones where the opportunity offered by smart mobility solutions is currently being developed and tested.

However, there are some innovative projects for rural mobility that can be found all over Europe, such as these recent projects SMARTA and SMARTA-2, which are landmarks in the testing of smart rural mobility solutions. In addition, the DRT and other on-demand mobility solutions can also be implemented at the EU level with a coordinated effort to create a suitable policy framework and introduce new transport-related technologies that can affect LDAs and how mobility challenges are addressed.

Opportunity

Rising Developments in Connected and Telematics Technologies

The rapid growth of electric shared micro-mobility services in cities worldwide has led to an increased focus on offering telematics and SaaS solutions to support these businesses. For entrepreneurs and innovators looking to start and grow their micro-mobility business using shared electric bikes, mopeds, or scooters, shared mobility platforms offer a one-stop solution. Examples of successful companies in this field include Cooltra, Revel, and Pick-e-Bike.

Additionally, many micro-mobility service providers are utilizing multi-network, global IoT SIM cards to ensure dependable cellular coverage and increase vehicle uptime and customer satisfaction. 

Another area of interest for these businesses is the use of computer vision powered by AI as a part of IoT solutions for shared micro-mobility. For instance, Otonomo Technologies Ltd. has a contract to acquire The Floow, a SaaS provider of connected insurance technology for major carriers globally. This cloud-native platform by Otonomo uses artificial intelligence, sensor data, behavioral mapping, and data from over 50 million connected cars and over 430 million mobility devices to optimize emergency services, mapping and traffic management, EV management, micro-mobility, predictive maintenance, and other smart city solutions.

Market Segmentation

Propulsion Type Analysis:

Based on propulsion type, the market is segmented into human powered & battery powered. Among these two segments, the battery powered segment has contributed the highest market share in 2022 and is anticipated to grow at the largest CAGR throughout the forecasted period, 2023-2031. This is due to its low energy consumption, which lessens the environmental issues related to urban transportation. 

Studies have shown that non-swappable batteries and service trips for moving, and charging have an overall negative effect on the environment. According to many other studies, the two sharing scenarios with the lowest greenhouse gas emissions are the free-float sharing mode, in which batteries are switched using an e-cargo bike, and the hybrid sharing mode, in which batteries are switched using self-service battery swapping stations (BSS).

However, despite the widespread interest and increased investment, the user adoption is still low, primarily because charging services are not supported which is why it is essential to deploy a Battery Management System (BMS) unit in order to monitor the battery status of an electric vehicle.

 To Understand More About this Research:  Request A Free Sample 

Vehicle Type Analysis:

In terms of vehicle type, the market is divided into e-kick scooters, skateboards, hoverboard, electric bicycles, scooters, low speed EVs, & others. Wherein, the electric bicycles segment holds the largest market share in 2022  and is also projected to grow at the highest CAGR throughout the forecast period, 2023-2031. This is due to the fact that over the past ten years, electric bicycles and micro mobility have made it possible for more inclusive transportation to be present on roads all over the world. In Fact, in North America and Europe, sales of electric bicycles have nearly doubled since 2018 as e-bikes enter the fast lane.

Additionally, there has also been an increase in investments in shared-mobility systems & also government subsidies for electric bikes and micro-mobility devices, like those in Italy and Portugal, which all work to reduce the initial cost for individuals.

Regional Analysis 

North America is expected to be a major contributor to the global micro-mobility industry, with estimates projecting that it will generate over 32% of the total revenue. This growth is driven by factors such as an increase in urban population and employment opportunities, as well as a focus on smart city projects. The widespread adoption of on-demand services such as car sharing and ride sharing, as well as the growing popularity of electric and autonomous vehicles, are also expected to drive the market in North America. Additionally, the region's favorable government regulations and infrastructure developments are expected to further boost the growth of the micro-mobility market in North America.

However, the growth of the micro-mobility industry in North America is also affected by macro and micro-economic factors. Economic conditions such as GDP growth, consumer spending, and disposable income, as well as the availability of financing options, can have a significant impact on the adoption of micro-mobility services. In addition, the cost of fuel and the overall cost of ownership of traditional vehicles can also affect the growth of the market. Apart from this, various other factors such as traffic congestion, parking availability, and the overall quality of public transportation can also affect the demand for micro-mobility services. 

Furthermore, the COVID-19 pandemic has also had an impact on the micro-mobility market in North America, with a decline in demand for shared mobility services in the short-term, but a potential for growth in the long-term as people look for alternative modes of transportation that are more cost-effective and flexible. As economies recover, governments invest more in sustainable transportation, and people adapt to new normal, the micro-mobility industry in North America is expected to bounce back and continue its growth trajectory in the long-term.

Top Players in the Micro-Mobility Market 

Accell Group, Yadea Technology Group Co. Ltd., Derby Cycle, Gotrax, and Lime Scooter are some of the most influential participants worldwide.

In 2022, these top 5 players accounted for 75.9% of the global micro-mobility market. Therefore, it is valid to state that the market is shifting towards monopoly. With some new entrants and increasing market share of existing small and medium players, the market scenario is also anticipated to change significantly more in the upcoming years.

Furthermore, the leading players are using a variety of tactics and expansion strategies to maintain their market dominance. For instance, Mobilke, a dockless bike sharing system in China aiming to double accessibility to jobs, healthcare, and education, among other things. Thus, resolving the last mile coverage issue. 

In addition, there will soon be new computer vision-based driver assistance technology that, when used with the newest internet of things (IoT), can detect traffic violations, collisions, and rash scooter riding. Riders will be warned for breaking the rules and regulations. In the upcoming months, this cutting-edge technology will be implemented in cities all over the world after undergoing current private testing.

List of Key Companies Profiled:

• Accell Group
• Airwheel Holding Limited
• Bird Rides, Inc.
• Boosted Usa
• Derby Cycle
• Gotrax
• Iconbit Gmbh
• Lime Scooter
• Mellow Boards Gmbh
• Segway Inc.
• Swagtron
• Xiaomi
• Yadea Technology Group Co. Ltd.
• Yellow Scooters
• Neuron Mobility
• Other Prominent Players

Key Developments adopted by key market players are:

• In May 2022, Accell Bike Parts had just gone live in the UK with its Bike@Home, an online platform. Bike@Home is a knowledge platform that offers blogs, how-to videos, direct links to more than 200 bicycle dealers nationwide, as well as an online store with a wide selection of bicycle parts and accessories. The platform aims to satiate consumer demand for online bicycle and cycling solutions, which is on the rise.
• In April 2022, Gotrax announced its G MAX electric scooter on discount at $100 off, plus more savings for the first time since its launch. The newest electric scooter from Gotrax was introduced to celebrate the arrival of spring and encourage more environmentally friendly trips to work and the grocery store. It has two 10-inch pneumatic wheels that can travel at top speeds of 20 MPH thanks to a 350W motor. Additionally, its 42-mile range is a nice touch, assuring that it can bear everything from commuting to casual riding and more.
• In December 2021, Lime Scooter declared that it is conducting a small trial in Dubai and that it will soon begin conducting regular business there. Lime plans to expand its product line in the Middle East.

Segmental Overview

(Note*: We also provide granular level reports, made to sub-segment level or only for niche segments. Contact us, if you require more details.)

By Propulsion Type

• Human Powered
• Battery Powered
  • Sealed Lead Acid
  • NiMH
  • Li-Ion

By Vehicle Type

• E-kick scooters
• Electric Bicycles
• Skateboards
• Hoverboard
• Low Speed EVs
• Scooters
• Others

By Voltage

• Below 24V
• 36V
• 48V
• Greater than 48V

By Requirement

• First and Last Mile Trips
• Short Distance Trips

By End User

• Manual
• Semi-autonomous
• Autonomous

By Autonomy Level

• Commercial
  • Station Based
  • Dock-Less
• Residential

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America