Newark, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The micro mobility market is experiencing a seismic shift, reshaping urban transportation landscapes across the globe. This report delves into the heart of this revolution, examining key segments such as e-scooters, bike-sharing, electric skateboards, folding e-bikes, and hoverboards. We'll explore market growth trends, regulatory hurdles, technological advancements, environmental impacts, and consumer adoption rates from 2024 to 2033.
The global micromobility market is anticipated to reach USD 327.84 billion by 2033, with a CAGR of 17.45% during the forecast period from 2024 to 2033.
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Key Insights on Micro Mobility Market
The electrically powered segment dominated the market with a market share of around 70% in 2023.
The propulsion type segment is divided into human powered and electrically powered. The electrically powered segment dominated the market with a market share of around 70% in 2023. NorthAmerica’s largest ride-hailing organizations have jumped into the micro-mobility sector for incorporating all forms of transportation into their portfolio of services.
The bicycles segment dominated the market with a market share of around 40.3% in 2023.
The vehicle use segment is divided into e-kick scooters, bicycles, skateboards, hoverboard, low speed evs, segway and mopeds & scooters. The bicycles segment dominated the market with a market share of around 40.3% in 2023. Bicycles and eScooters have become a common phenomenon in the major cities.
In 2023, the docked segment dominated the market, accounting for around 52.1% of global revenue.
The sharing type segment is divided into docked and dock-less. In 2023, the docked segment dominated the market, accounting for around 52.1% of global revenue.
In 2023, the 15-34 segment dominated the market, accounting for around 65.2% of global revenue.
The age group segment is divided into 15-34, 35-54 and 55 and Above. In 2023, the 15-34 segment dominated the market, accounting for around 65.2% of global revenue. To make cities more bike and pedestrian-friendly in the UK, around USD 300 million emergency fund is committed to the construction of new bike lanes and wider pavements.
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Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 17.45 % |
| Market Size in 2033 | USD 327.84 billion |
| Historical Data | 2020-2022 |
| No. of Pages | 235 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | propulsion type, vehicle use, sharing type, age group and region |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Micro Mobility Market Growth Drivers | Growing demand of electric scooter |
The Rise of Micro Mobility
Picture this: A bustling city street where sleek e-scooters glide silently past gridlocked traffic, while shared bikes weave through dedicated lanes, their riders grinning as they bypass the morning rush. This isn't a scene from a futuristic movie – it's the reality of urban transportation today, and it's only getting more exciting.
Micro mobility has emerged as a game-changer in the way we navigate our cities. These nimble, often electric-powered vehicles are not just convenient; they're reshaping our urban fabric, offering a sustainable alternative to traditional transportation methods.
Market Segmentation: The Players in the Micro Mobility Game
E-scooters: The Urban Commuter's New Best Friend
E-scooters have taken cities by storm, offering a perfect blend of convenience and eco-friendliness. Companies like Lime and Bird have become household names, their colorful scooters dotting sidewalks from San Francisco to Paris.
Bike-sharing: Pedaling Towards a Greener Future
Bike-sharing systems have evolved from clunky, station-based models to sleek, dockless operations. With the integration of electric bikes, this segment is seeing renewed interest and rapid growth.
Electric Skateboards: The Cool Kid on the Block
For the tech-savvy and adventure-seeking urbanites, electric skateboards offer a thrilling way to commute. Brands like Boosted have cultivated a devoted following, blending performance with portability.
Folding E-bikes: Compact Power for the Last Mile
Folding e-bikes are the Swiss Army knives of micro mobility. Perfect for multimodal commutes, they're gaining traction among those who need flexibility in their daily travels.
Hoverboards: Balancing Act in Urban Mobility
While they may not actually hover, these self-balancing scooters have carved out a niche in the micro mobility market, appealing to both young riders and tech enthusiasts.
Key Players:
• Electricfeel
• Floatility GmbH
• Beam Mobility Holdings PTE. Ltd
• Bird Rides
• DOTT
• Yulu Bikes Pvt. Ltd
• Zagster
• Lime
• Neuron
• VOI
Market Growth Trends: A Trajectory of Innovation
The micro mobility market is on an exhilarating upward trajectory. From 2024 to 2033, we're projecting a compound annual growth rate (CAGR) that will make investors' heads spin. Key drivers include:
• Urbanization: As cities grow, so does the need for efficient, space-saving transportation.
• Environmental consciousness: Consumers are increasingly choosing eco-friendly options.
• Technological advancements: Improved battery life and smart features are making micro mobility devices more appealing.
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