Micro-mobility Market: Post-COVID Business Recovery: Realizing New Opportunities

The key players operating in the global micromobility market include Beam Mobility Holdings, Bird, Electricfeel, Dott, Lime, Neuron Mobility, VOI, Yulu, Zagster, and Floatility GmbH as the service providers, which are operating efficiently in the micromobility market.

The global micromobility market is segmented into propulsion type, vehicle type, sharing type, age group, and region. Based on propulsion type, the market has been bifurcated into human powered and electrically powered. Based on vehicle type, the market has been fragmented into e-kick scooters, bicycles, skateboards, and others. Based on sharing type, the market has been divided into docked and dock-less. Based on age group, the market has been classified into 15-34, 35-54, and 55 and above. By region, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

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Factors, such as rise in trend of on-demand transportation services, government initiatives for smart cities, and rise in venture capital and strategic investments, supplement the growth of the global micromobility market. However, low rate of internet penetration in developing regions and rise in bike vandalism & theft are the factors that hamper the growth of the global market. Moreover, intelligent transportation system and increasing government initiatives for the development of bike-sharing infrastructure are expected to create numerous opportunities for the growth of the global micromobility market across the globe.

Key Findings Of The Study

• By vehicle type, the others vehicles segment is expected to register a significant growth during the forecast period.
• Depending on age group, the 15-34 segment is anticipated to exhibit significant revenue in the near future.
• LAMEA is anticipated to register the highest CAGR.

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Covid-19 Impact Analysis

• COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge.
• Rapid spread of the disease has led to a significant impact on the global automotive industry, with a downturn in demand for new and old vehicles.
• While lockdown measures and shelter-at-home orders are helping contain the coronavirus, they have also brought severe financial hardship.
• Amid a new reality of working from home, canceling trips, and even forgoing outings to restaurants and grocery stores, the micromobility industry — encompassing a range of lightweight vehicles such as bicycles, e-scooters, and mopeds — is facing devastating decline in ridership and revenue.
• With the number of passenger-kilometers traveled declining 50 to 60% worldwide since the onset of the COVID-19 crisis, the use of micromobility solutions has declined dramatically.

According to a recent report published by Allied Market Research, titled, “Micromobility Market by Propulsion Type, Vehicle Type, Sharing Type, and Age Group: Global Opportunity Analysis and Industry Forecast, 2021–2030,” 

The global micromobility market was valued at $40.19 billion in 2020, and is projected to reach $195.42 billion by 2030, registering a CAGR of 17.4% from 2021 to 2030.

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Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global micromobility market share in 2020. South Korea is expected to grow at a significant rate during the forecast period, owing to increase in demand for smart vehicles & infrastructural developments across the region.

Micromobility refers to a range of small, lightweight devices operating at speed. Micromobility devices include bicycles such as e-bikes, electric scooters, electric skateboards, shared bicycles, and electric pedal assisted bicycles. Micromobility devices can be human-powered or electric, and can be privately-owned or available through a shared fleet. Some speed peddled and electric kick scooter models fall into this moderate speed subcategory. Most micromobility devices are considered to be low-speed (top speed of 25 kilometers (16 mi/h), but devices can have speed up to 45 kilometers (28 mi/h and still be considered micromobility. 

Micromobility is a revolutionary idea to determine how to move around in a cleaner, safer, and efficient way. Various modes of transportation, such as kick scooters, bicycles, and others, supplement the micromobility concept. There are different micromobility concepts running in different countries, such as Bicing in Barcelona, Singapore Driverless Mass Rapid Transit (MRT), and bicycling in the Netherlands, which supplement the concept of micromobility across the globe.

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Numerous developments that are carried out by top manufacturers toward the introduction of numerous smart vehicle features in vehicles have also created a wider space for the growth of the micromobility market. Moreover, with the launch of autonomous vehicles, demand for smart vehicle is expected to increase, which is expected to create numerous opportunities for operating companies to develop advanced products, thereby leading to the growth of the market.

Contact Information:

Contact: David Correa | USA | +1-800-792-5285, +1-503-894-6022