A recent report published by
Infinium Global Research on micromobility market provides an in-depth analysis of
segments and sub-segments in the global as well as regional micromobility
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional micromobility market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of global micromobility market. According to the
report, the global micromobility market is projected to grow at a CAGR of 18.6%
over the forecast period of 2021-2027, growing from nearly USD 6.78 billion in
2020 to about USD 22.17 billion in 2027.
The governments in many countries
are trying to curb pollution by shifting from conventional transportation to
innovative transportation models such as shared mobility, and micro-mobility.
The micromobility model has caught the limelight in the recent past due to its
efficiency and high-tech features. The vehicles classified as micromobility
include bicycles, scooters, and skateboards. Several automotive and road safety
regulatory bodies have standardized the classification and use for
micro-mobility. For instance, The Elektrokleinstfahrzeuge-Verordnung (eKFV),
permits the operation of small e-vehicles in public spaces, provided that they
have a handlebar and do not exceed the speed of 20 kmph. Moreover, several
companies are entering the market, offering innovative features, and modern
The spread of Covid-19 had a
severe impact on the micro-mobility market over a short period. Governments
across many countries imposed strict lockdown restrictions on public transport.
Civilians were compelled to stay in their homes and avoid visiting outdoors.
Such government restrictions coupled with the infection concerns among the
population discourage the consumers to visit outdoors and use micro-mobility
services. Moreover, the Covid-19 pandemic also affected the production of new
micromobility vehicles. Government restrictions led the manufacturers to reduce
or even close their production in order to control the spread of pandemics.
This, in turn, hampered the micro-mobility market over the pandemic.
Nevertheless, as the pandemic got under control, the demand for micro mobility
increased significantly. Consumers are eager to visit outdoors and travel more,
which is expected to boost the growth of the market post-pandemic.
The growing trend of on-demand
mobility services is the major driving factor for the micro-mobility market.
On-demand mobility services are on the rise owing to increased internet
penetration and the growing use of smartphones. As micromobility is a part of
on-demand mobility, its increasing demand is driving the growth of
micro-mobility. Moreover, rising venture capital and strategic investments in
the industry are further contributing to the growth of the micro-mobility
market. Many venture capitalists, angel investors, and investment firms are
actively investing in the micro-mobility industry due to lucrative prospects.
However, the lack of infrastructure in smaller towns, and villages is the major
challenge for the market. Additionally, a growing number of smart-city projects
across the world is anticipated to offer growth opportunities for players in
the micro-mobility market. Many smart city projects integrate micromobility
infrastructure, driving the usage of the services in such projects.
Among the regions, Asia-Pacific
accounted for the largest share in the global micro-mobility market, and it is
expected to grow at the highest rate. The domination of the Asia-Pacific region
attributes to the high demand for cheap transportation and the development of
infrastructure in countries including China, South Korea, and Japan. Moreover,
governments are offering subsidies, and other incentives to promote
micro-mobility. Following Asia-Pacific, Europe held the second-largest market
share in the global micro-mobility market. Government initiatives to curb carbon
emissions and control air pollution is driving the adoption of micro-mobility
The report on global micromobility
market covers segments such as vehicle type, propulsion type, and application.
On the basis of vehicle type, the sub-markets include scooters, bicycles,
skateboards, and others. On the basis of propulsion type, the sub-markets
include man-powered, and electrically powered. On the basis of application, the
sub-markets include commercial, and private.
The report provides profiles of
the companies in the market such as Zagster, Floatility GmbH, Easymile SAS,
Bird Rides Inc., Beijing Mobike Technology Co. Ltd., Volatility GmbH, Spin
Scooters, Uber Technologies, Inc., Neutron Holdings, Inc., and Sway
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of micromobility market. Moreover, the study highlights current market
trends and provides forecast from 2021-2027. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.