Pune, India, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The Global Micro Mobility Market Size was estimated to be worth USD 5.7 Billion in 2021 and is projected to exhibit a CAGR of 24.0% during the forecast period, according to a recent market study by Quince Market Insights. Micro mobility is basically a mode of transportation buy lightweight vehicles that are running at a speed of about 25 km per hour and are known to be the best vehicles to cover the shortest distances. This technology contains the use of different vehicles like bicycles, e-bikes, electric scooters, electric skateboards, shared vehicles, and pedal-assisted bicycles.
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With the increasing number of vehicles has resulted in environmental pollution, due to which the people are adopting electric vehicles. In fact, due to the increasing pollution many regions have started opting for alternative means of transport. Another most driving factor of the micro-mobility growth is the increasing price of the oil and gas. This has resulted into the adoption of alternate means of transport. With the increasing number of populations, the cities are becoming wider and developed and commuting has become the major problem. Thus, the micro mobility vehicles have started gaining popularity.
However, the lack of awareness among the people is acting as the major restraining factor in the global micro-mobility market. Moreover, the Micro mobility vehicles are lightweight and compact. The challenge for Micro mobility vehicles is to find a suitable bike infrastructure.
Some Key Developments Offered in the Report are:
- March 2021 - To entice more clients, LimeBike has added a new feature to their e-bikes, such as no-fee reservations and no-app rides.
- July 2020 - Xiaomi unveiled the Ninebot C30, an electric scooter. The vehicle is small and has a range of up to 35 kilometres.
- April 2020 - Xiaomi unveiled the Mi Electric Scooter 1S, which is now available for purchase on Chinese online marketplaces. They are, however, supplied abroad.
- November 2019 - Gotcha Mobility has been acquired by OjO Electric in order to develop its seated scooter line.
Impact Of COVID 19 On the Global Micro Mobility Market
The QMI team is closely monitoring the impact of COVID-19 on the global micro mobility industry, and it has been observed that the demand for micro-mobility is expected to grow sharply during the forecast period. The automotive industry witnessed a drop in sales during the pandemic. Micro mobility gives a fantastic opportunity for individuals to move around swiftly, autonomously, and most crucially, without releasing hazardous pollutants, with most urban travels clocking in under five kilometres. The popularity of shared bicycle and scooter networks has risen in the last two years, with ridership more than doubling in the last year. This increase in Micro mobility users has re-ignited and accelerated demands for safe infrastructure that reduces traffic congestion and protects non-vehicles from vehicles and pedestrians. Hence, the need for micro-mobility is expected to increase, resulting in significant market growth during the projected duration.
Global Micro Mobility Market, by Vehicle Type Analysis
Global micro mobility market is segmented into the e-kick scooter, uni cycle, e-bike, bicycles, skateboards, and others. Among these, the e-bike segment is witnessing the fastest growth and is expected to register the highest CAGR. The growth of the segment is due to increasing demand and investment made by the key market players in this segment because it is still in the transition phase. Furthermore, the scooter-sharing market is experiencing a dynamic shift due to the entry of global leaders.
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Global Micro Mobility Market, by Type Analysis
The global micro mobility market is bifurcated into manual and electric. Among these, the electric segment is witnessing the fastest growth owing to the increasing prices of fuel. These vehicles help to reduce vehicle emissions and this way, the demand for battery-electric vehicles for micro-mobility is increasing at a fast pace.
Global Micro Mobility Market, by Application
Based on application, the global micro mobility market is segmented into commercial, private, residential and others. Over the forecast period, the commercial segment is witnessing fastest growth. Because the usage of public transportation has decreased as a result of the pandemic, the micro mobility market is growing and is considered an emerging trend. In several countries, many companies have started offering e-bike or e-bicycle rental services. As a result, these segments are experiencing tremendous growth.
Global Micro Mobility Market, by Battery
Based on battery, the market is categorized into sealed lead acid, NiMH and Li-Ion. Among these, Li-Ion is witnessing the fastest growth. For its high energy storage systems, lithium-ion batteries are currently used in many electric vehicles. They also have a high power-to-weight ratio, excellent high-temperature performance, and low self-discharge.
Global Micro Mobility Market, by Voltage
Based on voltage, the global micro mobility market is segmented 0-24V, 24-36V, 36-48V and above 48V. Among these, the 36-48V is witnessing the fastest growth. The use of 36V systems in electric vehicle not only increases the overall distance range but also drives the performance of the vehicle. The use of these batteries is catered through Li ion and NiMH batteries because they are compact.
Global Micro Mobility Market, by Weight Capacity Analysis
Based on the weight capacity, the micro mobility market is segmented into 0-100kg, 100-250kg and above 250kg. Among these, 0-100kg segment is witnessing the fastest growth. The growth is attributed to convenience and preference for light weight vehicles and increasing awareness regrading reducing vehicle emissions.
Global Micro Mobility Market, by Region Analysis
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Among these, Asia Pacific is witnessing the fastest growth because of the presence of key players. The key players generate huge revenue by selling their products. Either through the OEM channel or through their distribution channels. Apart from this the government of various economies like Japan, China and India are creating standards for the vehicle charging system and are expected to create a positive growth trajectory for the regional market.
Profiles of major market players operating in the global micro mobility market include are Yadea Technology Group Co., Ltd. (China); JIANGSU XINRI E-VEHICLE CO. (China), LTD.; Xiaomi (China); SEGWAY INC. (the United States); SWAGTRON (the United States); Boosted USA (the United States); Airwheel Holding Limited (China); YAMAHA MOTOR CO., LTD. (Japan); Accell Group (Netherlands); Derby Cycle (Germany).
Browse key industry from the report, “Micro Mobility Market, By Vehicle Type (E-Kick Scooter, Uni Cycle, E-Bike, Bicycles, Skateboards And Others), By Type (Manual And Electric), By Application (Commercial, Private, Residential, and Others), By Battery (Sealed Lead Acid, NIMH, and Li-Ion), By Voltage (0-24V, 24-36V, 36-48V, Above 48V), By Weight Capacity (0-100kg, 100-250kg And Above 250kg), By Region (North America, Europe, Asia Pacific, The Middle East And Africa) – Market Size & Forecasting To 2030“, in-depth analysis along with the table of contents (ToC).
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