New York, United States , April 26, 2023 (GLOBE NEWSWIRE) -- The Global Micro-Mobility Market Size is to grow from USD 40.11 billion in 2022 to USD 216.3 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 18.35% during the projected period. The rising adoption of vehicles such as electric bikes, electric scooters, skateboards, golf carts, kick scooters, one-wheel, personal transporters, roller skates, segways, unicycles, tricycles, handcycles, mobility scooters, quadricycles, and others will boost the demand for the micro-mobility market during the forecast period.
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Micro-mobility, also known as micro mobility, refers to a class of small, light-weight vehicles that can travel at speeds of up to 25 km/h and are driven by individuals over short distances. Bicycles, e-bikes, electric scooters, electric skateboards, shared bicycle fleets, and electric pedal assisted bicycles are all examples of micromobility products. Micromobility can be privately owned or rented, most commonly in the form of dockless sharing. Micromobility is rapidly expanding around the world, proving to be an increasingly popular mode of transportation for a wide range of consumers. Because of the growing demand for biking and walking facilities in urban cities and towns, many market producers are researching micromobility as a replacement method for short-term travel and active modes of transportation.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Micro-Mobility Market Size, Share, and COVID-19 Impact Analysis, By Battery Type (Sealed Lead Acid, NiMH, Li-ion, Others), By Voltage (Below 24V, 36V, 48V, and Greater than 48V) By Vehicle Type (Electric Bikes, Electric Scooters, Skateboards, Golf Carts, Kick Scooters, One-Wheel, Personal Transporters, Roller Skates, Segways, Unicycles, Tricycles, Handcycles, Mobility Scooter, Quadracycles, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The Li-ion segment is dominating the market with the largest revenue share over the forecast period.
On the basis of battery type, the global micro-mobility market is segmented into sealed lead acid, NiMH, Li-ion, and others. Among these, the Li-ion segment is dominating the market with the largest revenue share of 37.2% over the forecast period. Because of their low cost, these batteries are the most popular choice among manufacturers. The growing awareness of the advantages of using lithium-ion batteries over sealed-lead acid and NiMH batteries has increased demand for lithium-ion batteries.
The below 24V segment accounted for the largest market share over the forecast period.
On the basis of voltage, the global micro-mobility market is segmented into below 24V, 36V, 48V, and greater than 48V. Among these, the below 24V segment accounted for the largest market share over the forecast period. Micro-mobility vehicles, such as skateboards, scooters, and bicycles, typically use 12V or 18V rechargeable lithium-ion batteries, which provide enough power for their drives but have a limited range when compared to other types of vehicles.
The electric bikes segment accounted the largest revenue share of more than 44.7% over the forecast period.
On the basis of vehicle type, the global micro-mobility market is segmented into electric bikes, electric scooters, skateboards, golf carts, kick scooters, one-wheel, personal transporters, roller skates, segways, unicycles, tricycles, handcycles, mobility scooter, quadracycles, and others. Among these, electric bikes are dominating the market with the largest revenue share of 44.7% over the forecast period because they are the most cost-effective and easily accessible choice for public transportation. In order to reduce the strain on transportation networks, several countries are attempting to increase the use of electric bikes through regulatory and subsidy changes.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 43.6% market share over the forecast period. The market for micro-mobility in the North America is rapidly expanding as a result of growing concerns about issues such as traffic congestion, air pollution, and carbon dioxide emissions, all of which have increased due to the growing urban population, as well as increased expenditures by multiple significant players in those major countries. The leading companies in this region include Bird Global, Inc., Lyft, Inc., Lime, Helbiz Inc., Veo, and others.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Micro-Mobility Market include Lyft, Inc., Bird Global, Inc., Motherson Sumi Systems Ltd., Lime Micromobility, Airwheel Holding Ltd., Accell Group, JIANGSU XINRI E-VEHICLE CO., LTD., SWAGTRON, Beam Mobility Holdings, AGC Inc., Xiaomi, Bird Rides Inc., GoJek, SEGWAY INC., Derby Cycle, YAMAHA MOTOR CO., LTD., Dott, Floatility GmbH, Fuyao Glass Industry Group Co., Ltd., Central Glass Co., Ltd., Micro Mobility Systems Ltd., and among others.
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Recent Developments
In May 2022, Bird Global, Inc., a leader in environmentally friendly electric transportation, announced its new parking technology, Bird Visual Parking System (VPS), which is available for free to city partners and requires zero infrastructure or tech investments on behalf of the community. The revolutionary technology exists within the Bird app and can be used on both iOS and Android operating systems, allowing for it to scale to all Bird riders over time and to be immune to theft or vandalism, unlike other parking technologies.
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