Market Research Report
Micro-mobility Market Size, Share & Trends Analysis Report By Vehicle Type (Electric Kick Scooters, Electric Skateboards, Electric Bicycles), By Battery, By Voltage, By Region, And Segment Forecasts, 2021 - 2028
|Micro-mobility Market Size, Share & Trends Analysis Report By Vehicle Type (Electric Kick Scooters, Electric Skateboards, Electric Bicycles), By Battery, By Voltage, By Region, And Segment Forecasts, 2021 - 2028|
Published: August 11, 2021
Grand View Research, Inc.
Content info: 112 Pages
Delivery time: 2-10 business days
The global micro-mobility market size is expected to reach USD 69.32 billion by 2028, registering a CAGR of 13.7%, from 2021 to 2028, according to a study conducted by Grand View Research, Inc. The growing carbon emission by traditional fuel-based vehicles has been a key concern for government authorities. The sustainability move toward smart cities is one of the key factors responsible for the adoption of eco-friendly and cost-effective transportation. Since the electric kick scooters, electric bicycles, and electric skateboards run on batteries, there are no carbon or gaseous emissions from these vehicles. This mode of transportation is gaining popularity amongst environmentally conscious commuters. Adopting such eco-friendly vehicles not only reduces the carbon and sulfur emissions in the atmosphere but also decreases fuel consumption. Furthermore, these vehicles use ultra-quiet chains for operating the electric motor, thereby facilitating noise-free rides.
The market growth can be attributed to the growth of the shared micro-mobility service industry across the world, which has spurred the demand for electric kick scooters, electric bicycles, and electric skateboards. Companies such as Bird Rides, Inc.; Lime; Spin; and Uber Technologies Inc. offering electric scooter-sharing services, are procuring electric kick scooters mainly from manufacturers such as Ninebot-Segway, Yadea Technology Group Co., Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., and Xiaomi.
Furthermore, the penetration of electric kick scooter-sharing services is witnessing an exponential adoption rate since 2016. Companies such as YoBike and Pony Bikes; Urbo Solutions and Bleeper Bikes; and Bykeare offering electric bicycle-sharing services across Europe. The growth of the market can be attributed to the increasing adoption of scooters and bicycles as the preferred mode of transportation, especially from the time when electric kick scooters and electric bicycles entered this market space.
The Asia Pacific region is expected to emerge as the prominent region with China as the largest electric kick scooters market owing to the presence of several electric kick scooter manufacturers such as JIANGSU XINRI E-VEHICLE CO., Air wheel Holding Limited, Yadea Technology Group Co., Ltd., LTD., and Xiaomi in China. The country accounted for the largest share of the market in 2020. Moreover, the regional market growth can be attributed to the increasing need for reducing carbon emissions and developing technologically advanced and fast-charging stations.