Selbyville, Delaware, Nov. 14, 2023 (GLOBE NEWSWIRE) --
The micro-mobility market valuation is projected to cross $231 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rising demand for sustainable transportation solutions is spurring multiple authorities and municipalities to invest heavily in enhancing urban infrastructure to accommodate and promote the adoption of micro-mobility services. With the increasing need for efficient solutions, new entrants are funding the development of innovative micro-mobility vehicles and services to capitalize on the expanding market opportunities, adding impetus to the industry growth. For instance, in September 2022, Magna, entered the rapidly developing micro-mobility sector by investing $77 million in Yulu, India's largest electric shared mobility provider.
Micro-mobility market from the hoverboard type segment is expected to witness optimum demand between 2023 and 2032, driven by the surging preference for last-mile connectivity solutions and the higher emphasis on eco-conscious commuting in urban environments. Hoverboards have gained popularity as convenient and trendy personal transportation options due to their compact size, ease of use, and eco-friendly electric propulsion. Additionally, the rising technological advancements in battery efficiency and design improvements are enhancing the safety and performance of hoverboards, further contributing to the market growth.
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The pedal assist micro-mobility market is set to foresee significant growth from 2023 to 2032. Pedal-assist bicycles offer efficient and sustainable transportation option for short-distance commuting and recreational activities due to their combination of manual pedaling and electric motor assistance. Additionally, the increasing focus on environmental conservation and physical well-being is amplifying the demand for pedal-assist bicycles, further fostering their integration into urban mobility solutions.
Europe micro-mobility market is poised to record robust growth up to 2032, attributed to the increasing focus on sustainable transportation solutions and urban mobility initiatives. Furthermore, with the increasing emphasis on sustainable transportation solutions, several regional market players are strategically investing in the development of diverse micro-mobility services, including e-scooters, bicycles, and electric mopeds. The growing partnerships with local governments and transportation authorities for enhancing accessibility and promoting the adoption of micro-mobility options will also add to the industry growth. For instance, in August 2022, Voi, launched its operations in Europe's 100th city, for providing residents and tourists with sustainable means of urban transportation.
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Major players involved in micro-mobility market are Jetson, Go Trax, Gyroor, FOCUS BIKES GMBH, Brompton Bicycle Ltd., Giant Bicycles, Halo Board, Yamaha Motors, and Micro Mobility Systems AG are among the major companies operating in the micro-mobility industry. These firms are introducing innovative micro-mobility solutions, such as advanced electric scooters, bicycles, and compact electric vehicles to meet the increasing demands for sustainable transportation options. For instance, in September 2023, Yamaha expanded its range of small high-tech drive units with the introduction of PWseries C2, a new lightweight, adaptable eBike motor to cater to the urban and commuter markets.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Micro-mobility market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 Propulsion trends
2.6 Age trends
2.7 Sharing trends
2.8 Business model trends
Chapter 3 Micro-mobility Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Level of autonomy launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increasing technological advancements in North America
3.10.1.2 Increasing consumer demand for convenient, on-demand transportation solutions
3.10.1.3 Surge in investments from startups and established organizations
3.10.1.4 Rising awareness of environmental issues
3.10.2 Industry pitfalls & challenges
3.10.2.1 Safety concerns
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
