Micro Mobility - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Micro Mobility Market is accounted for $3.65 billion in 2019 and is expected to reach $17.57 billion by 2027 growing at a CAGR of 21.7% during the forecast period. Some of the key factors propelling the market growth include rapidly growing demand for shared mobility solutions, continuous increase in urban population, compact, lightweight, less payload capacity, electric or human-powered powertrain, and limited number of passengers. However, vandalism, thefts, and improper parking are likely to hamper the market.
Micro-mobility is a mode of transportation that use very light vehicles, including electric scooters, shared bicycles, pedelec, electric skateboard, bicycles, etc. Gross weight of vehicles under this category is less than 500 kg. Micro-mobility vehicles are used for short duration travel, mainly for first or last mile of a journey. Miniaturization of transport modes for shorter journeys is considered under micro-mobility. Requirement of motor, availability for shared services, and usage as primary utility are some additional conditions for micro-mobility.
By service type, kick scooter sharing services are witnessing the significant rate of adoption in the micromobility market, worldwide. The concept of kick scooter sharing was introduced in the U.S., with the services first provided by start-up companies including Bird, Lime, and Spin. However, in a span of just two years, several micromobility start-ups in the country had valuations. Soon, many established ridesharing companies and automotive giants took notice of the rapid growth and entered the market with their own kick scooter sharing services.
On the basis of geography, Asia Pacific is expected to have considerable market growth during the forecast period. The urban population across Asia Pacific is increasing consistently, which can be attributed to employment opportunities and increased standards of living in urban areas. As the region comprises rapidly developing economies, such as China and India. The market in Asia Pacific is primarily driven by China, where the rate of adoption of micro-mobility services is increasing, owing to legality of ride-sharing services, surge in fuel prices, increased vehicular emission, and presence of leading players providing on-demand transportation services, including Didi. This, in turn, is driving the micro-mobility market in the country.
Some of the key players in micro mobility market include Bird Rides Inc., LimeBike, Rydies, Segway Inc., Spin Scooters, Sway Mobility, Floatility GmbH, Dynamic Bicycles, Scoot Network, Zagster, Beijing Mobike Technology Co. Ltd., Marble, Easymile SAS, Skip Transportation, DoorDash, Zomato, Grubhub, Postmates, Uber, and Ola.
Mode of Transports Covered:
• Electric Scooters
• Electric Skateboards
• Short Distance Trips
• First and Last Mile Trips
Travel Ranges Covered:
• More Than 40 Km
• 20–40 Km
• Up To 20 Km
Weight Capacities Covered:
• More Than 250 Kg
• 100–250 Kg
• Up To 100 Kg
Service Types Covered:
• Scooter Sharing
• Bike Sharing
• Kick Scooter Sharing
Autonomy Levels Covered:
Power Sources Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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