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Micromobility Market (Vehicle Type - Scooters, Bicycles, Skateboards, and Others; Propulsion Type - Man-powered, and Electrically Powered; Application - Commercial, and Private): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : September, 2021

  • Rep Id : AT00233

  • Category : Automotive, Aerospace & Defence

  • Status : Published

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.

 

Market Insight

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 business models.

 

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 in Europe.

 

Segment Covered

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.

 

Companies Profiled:

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 Mobility Inc..

 

Report Highlights:

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.


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