Micro-Mobility Market Research Report: By Weight Capacity, By Travel Range, By Type & By Application - Forecast to 2030

Micro-Mobility Market Size is projected to be worth USD 210 Billion by 2030, registering a CAGR of 13% during the forecast period (2022 - 2030).

NEW YORK, NEW YORK, USA, January 13, 2022 /EINPresswire.com/ -- Micro Mobility Market Overview
Micro-Mobility Market Size is projected to be worth USD 210 Billion by 2030, registering a CAGR of 13% during the forecast period (2022 - 2030).

The micro-mobility mode of transportation is used in light vehicles. Micro-mobility vehicles are miniaturized transportation used for short travels. Electric vehicles, skateboards, bicycles and pedelecs are some of the micro-mobility vehicles. Today, micro-mobility vehicles are beneficial in many fields. Commercial enterprises are known for the prevalent use of micro-mobility vehicles. The demand for micro-mobility vehicles is rapidly growing.

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The driving factors for the market are the rising demand for ridesharing, car sharing and e-riding in the urban areas. Compact, lightweight, limited passengers and easy application are some of the benefits of micro-mobility vehicles. There are plenty of segments in the micro-mobility market. The two-wheeler segments are witnessing the highest demand in the forecast period. These vehicles are widely used as they are sustainable, flexible and cost-efficient. Due to these factors, the micro-mobility market value will reach 150 billion. The growth scope for the market is more in the commercial sector. Also, the adoption of micro-mobility is happening at an exponential pace. It will fuel more demand for the market in the forecast year.

Competitive Analysis

List of the Key Companies Profiled in the Micro-Mobility Market Research Report are –

Yellow Scooters (US)
Bird Rides Inc. (US)
Lime Scooter (US)
Micro Mobility Systems AG (Switzerland)
ofo Inc. (China)
Mobike (China)
Motivate (Lyft) (US)
Pride Mobility Products Corp. (US)
EV RIDER LLC (US)
Golden Technologies (US)
Merits Co. Ltd (Taiwan)
Invacare Corporation (US)
The micro-mobility market is estimated to witness significant strategic approaches, such as expansion, collaboration, mergers & acquisitions, and advanced technology integration. Leading market players make strategic investments in driving research and development activities and fostering their expansion plans.

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Government Initiatives for e-Mobility Proliferation Impact the Market Growth

The e-mobility projects and EV charging infrastructure for public spaces are boosting worldwide. The market witnesses the rising demand for new automated micro-mobility solutions. Also, governments in countries across the globe have realized the potential that electric vehicles hold.

Requirement of a Large Dedicated Bike Infrastructure Restrict the Market Growth

Despite the vast growth prospects, micro-mobility solutions still face heavy headwinds. Factors such as the requirement for dedicated bike infrastructure and high investments to develop micro-mobility vehicles, and lack of public awareness hinder the market's growth.

Also, the inapplicability for rural terrain impedes the micro-mobility market share. Nevertheless, increasing R&D investments in developing innovative micro-mobility solutions would support the market growth throughout the review period.

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COVID 19 Impacts on the Market

The onset of Coronavirus impacted the micro-mobility industry positively. On one side, lockdown mandates disrupted the supply chain, and manufacturers faced various problems such as obtaining raw materials & components, attracting workers from quarantines required for the production, and delivering end products to the markets.

On the other hand, following the onset of the pandemic, many cities are seen adapting their infrastructure rapidly to provide more space for e-bikes and e-scooters. People are increasingly finding e-scooters as a good choice for a slightly longer journey. By switching to an e-scooter, people can help cities keep harmful emissions from vehicles and achieve better air quality for the people.

Besides, the rising demand for e-micro mobility solutions to deliver healthcare products to fight against the pandemic and the uptake of electric vehicles in the logistic industry offered significant opportunities. Resultantly, the micro-mobility market rapidly returned to normal, witnessing the steadily increasing demand. The micro-mobility market demand is anticipated to pick up further following the uplift of the lockdown in many countries.

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Regional Analysis

The Asia Pacific region leads the global micro-mobility market, witnessing a significant rise. The region has some of the most urban and highly populated countries, such as China and India, which influence the market demand. Besides, factors such as raw material advantage and the availability of cost-competitive workforces in the region act as major driving forces behind the market growth.

The massive increase in production and sales of e-bikes in the region increases micro-mobility market sales. The market is also driven by advancements in EV technologies and electric bicycles, electric scooters, e-bikes, electric skateboards, electric pedal-assisted bicycles, and shared bicycles. Furthermore, factors such as investments in research & development and a large EV user base create a huge demand for electric mobility.

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