PUBLISHER: The Business Research Company | PRODUCT CODE: 1270597
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270597
“Micro-Mobility Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on micro-mobility market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for micro-mobility ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The micro-mobility market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the micro-mobility market are Yadea Technology Group Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Xiaomi Corp., Segway Inc., Swagtron, Boosted USA, Airwheel Holding Limited, Yamaha Motor Co. Ltd., Accell Group N.V., Derby Cycle AG, Lime (Neutron Holdings Inc.), Bird Rides Inc., ElectricFeel AG, Floatility GmbH, Beam Mobility Holdings Pte. Ltd., Dott, Yulu Bikes Pvt. Ltd., and Voi Technology AB.
The global micro-mobility market is expected to grow from $43.85 billion in 2022 to $52.31 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The micro-mobility market is expected to grow to $102.14 billion in 2027 at a CAGR of 18.2%.
The micro-mobility market consists sales of electric scooters, electric skateboards, shared bicycle fleets, and electric pedal assisted (pedelec) bicycles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Micro-mobility is the usage of bicycles, electric scooters, and e-bikes to commute short distances around cities. Users usually rent such a scooter or bike for a limited time using a mobile application.
Asia-Pacific was the largest region in the micro-mobility market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the micro-mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of micro-mobility include bicycles, e-bikes, e-kick scooters, and other types. An e-kick scooter refers to a vehicle that may be stood on and pushed at a maximum speed of 15 miles per hour by an electric motor. They are operated at various speeds such as up to 25 kmph and 25-45 kmph with propulsion types such as human-powered and electrically powered that consist of different sharing types such as docked and dockless. The ownership includes business-to-business and business-to-consumers.
Increasing demand for public transportation is expected to propel the growth of the micro-mobility market going forward. Public transportation is a mode of local transportation that allows more people to travel together along specified routes that include buses, trains, and metros. Micro-mobility facilitates and streamlines people's movement or mobility inside a populated region, enhances individual movement, and provides users with simpler access to transportation. Additionally, urbanization has also favored the demand for micro-mobility as more and more people will require access to transportation. For instance, in September 2022, according to a report published by the US Bureau of Labor Statistics, a US-based organization for financial stability and economic growth, in the USA, the consumer expenditure on overall public and other transportation climbed by 72% in 2021, with intercity bus tickets increasing by 87.4% and intercity train fares increasing by 40.7%. Therefore, the increasing demand for public transportation will drive the micro-mobility market.
Product innovations have emerged as key trends gaining popularity in the market for micro-mobility. Major companies operating in the micro-mobility market are developing innovative products featuring technologies to gain a competitive edge in the market. For instance, in January 2022, LIME, a US-based shared micro-mobility company launched the Gen4 E-bike, which is an electric bike with a swappable, interchangeable battery. Some of its unique features include increased motor power, a mobile-phone holder, a handlebar with display mirroring, an automatic two-speed transmission, and a modular design.
In November 2022, Helbiz Inc., a US-based intra-urban transportation company, completed the acquisition of Wheels Labs Inc. for an undisclosed sum. The acquisition boosts Helbiz's capacity to function by expanding its footprint to 67 markets worldwide, creating a more diverse business model, and improving its financial profiles. Wheels Labs Inc. is a US-based micro-mobility leasing and management company.
The countries covered in the micro-mobility market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The micro-mobility market research report is one of a series of new reports from The Business Research Company that provides micro-mobility market statistics, including micro-mobility industry global market size, regional shares, competitors with a micro-mobility market share, detailed micro-mobility market segments, market trends and opportunities, and any further data you may need to thrive in the micro-mobility industry. This micro-mobility market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.