Micromobility is a rapidly expanding transportation sector that includes commuting on a variety of lightweight vehicles such as electric scooters, electric skateboards, and electric bicycles. During the forecast period, factors such as increasing traffic congestion, rising oil and petrol prices, ease of parking, and saturation in the auto sector are expected to drive market growth. Furthermore, factors such as the global expansion of e-bike and e-scooter rental and sharing services are expected to create new opportunities for micro-mobility in the coming years. During the forecast period, the micromobility market is expected to grow at a CAGR of 17.5%.
Micromobility Market Report Scope and Research Methodology:
The report depicts a clear Micromobility Market structure, as well as current market trends and forecasts to identify potential investment areas. It includes historical data, recent technological advancements, the competitive landscape, and government policy, among other market-influencing factors. The Micromobility Market report provides clients with information on major drivers, restraints, challenges, and opportunities. To facilitate understanding, the market has been divided into three major segments, each of which has been further subdivided into various sub-segments. The report also includes a segment-by-segment analysis of market growth factors, as well as a competitive analysis of major market players based on their expansion plans, products, investments, pricing, and presence in the Micromobility industry.
The information gathered for the Micromobility Market report using these methods was combined to produce accurate and error-free conclusions. As part of the primary research, interviews were conducted with subject-matter experts, Micromobility industry participants, high-level executives of key market players, industry consultants, and other experts. The market report’s PESTLE analysis aids in the development of company strategies. A SWOT analysis was used to determine the market’s strengths and weaknesses.
Micromobility Market Overview:
The study examines market growth drivers and challenges, as well as company plans, procedures, and a comprehensive financial strategy. Customization and extensive information about Micromobility industry potential meet customer expectations. The Micromobility Market research investigates the competitive landscape and key players in the industry. This Micromobility market study aids in structure planning in light of current industrial conditions.
Micromobility Market size was valued at US$ 32.3 Billion in 2020 and the total Micromobility Market revenue is expected to grow at 17.5% through 2021 to 2027, reaching nearly US$ 100.5 Billion.
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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 customer 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, had cumulative valuations in excess of $1 billion within a few years. This accelerated growth is the result of two factors. To begin, the majority of shared micromobility launches occur in enabling environments. Consumers in cities have come to value and use shared mobility solutions such as car sharing, carpooling, and email.
Micromobility Market Segmentation:
The micromobility market is divided into three categories: electric kick scooters, electric skateboards, and electric bicycles. By 2020, the electric bicycle segment would have dominated the market, accounting for more than 85% of global sales. As the cheapest and most convenient alternative to public transport, the segment is expected to grow at a CAGR of more than 14.3% over the forecast period. Some countries are working to encourage the use of electric bicycles, reducing the burden on public transport through regulatory and subsidy changes. 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 large investment in infrastructure.
During the forecast period, the electric scooter segment is expected to post the second highest CAGR of 10.3%. Demand for these scooters has increased since 2017 as a result of significant investment by players in the shared electric scooter market while it was still in its early stages. With the entry of global companies such as Uber Technologies, Inc., Bird, Inc., Lyft, and Lime in the on-demand transportation industry, the scooter sharing market is currently undergoing dynamic development.
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 Regional Insights:
Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America comprise the Micromobility market. From 2021 to 2029, the report forecasts revenue growth in USD terms at the regional and country levels. The report includes a regional analysis with market size estimates for each region. The study’s countries section examines a variety of market elements expected to influence current and future Micromobility market trends, as well as changes in market rules at the country level. Some of the primary components used to forecast each country’s Micromobility market situation are consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.
Key Questions answered in the Micromobility Market Report are:
- What are the Micromobility market segments?
- Which segment in the Micromobility market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the Micromobility market?
- What key trends are expected to emerge in the Micromobility market during the forecast period?
- What was the Micromobility market size in 2021?
- Which region dominated the Micromobility market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2027.
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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