New York, US, June 22, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Micro Mobility Market Analysis by Weight Capacity, By Travel Range, By Type and By Application (Commercial, Residential): Forecast to 2028” valuation is poised to reach USD 210 Billion by 2028, registering an 13% CAGR throughout the forecast period (2022–2028).
Micro Mobility Market Overview
Micro-mobility vehicles are utilized for traveling short distances. Some of the most popular micro mobility vehicles used are electric vehicles, skateboards, bicycles, and others. Micro mobility vehicles have broad application areas in the commercial sector. The demand for micro-mobility vehicles is increasing across the globe. The global market for micro0-mobility has recorded a massive rise in the growth rate in the last few years. The market's growth is mainly attributed to the rising demand for carpooling and electric riding in urban areas across the globe. These vehicles are cost-effective, sustainable, and flexible, which are the main factors for the substantial growth of the global micro-mobility Industry.
Micro Mobility Market Report Scope:
| Report Metric | Details |
| Market Size | USD 210 Billion |
| CAGR | 13% |
| Base Year | 2021 |
| Forecast Period | 2022-2028 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Weight Capacity, Travel Range and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Spin Scooters, Volatility GmbH, Sway Mobility, Easy mile SAS, Beijing Mobile Technology Co. Ltd, LimeBike, Zagster and Scoot Network |
| Key Market Opportunities | Government initiatives for sharing Micro-mobility vehicles and intelligent transportation systems used in these vehicles are expected to create new opportunities |
| Key Market Drivers | Owing to the increase in the price of gas and oil due to geopolitical tensions and other factors, the demand for Micro-Mobility systems is high |
Get Free Sample PDF Brochure
https://www.marketresearchfuture.com/sample_request/8315
Market Drivers
The global market for micro-mobility has recorded a significant rise in the growth rate in the last few years. The market's growth is attributed mainly to the increase in the price of gas and oil, given the geopolitical tensions and other factors. Furthermore, the factors such as cost-effectiveness and environment-friendly properties are projected to influence the market's growth over the assessment timeframe. In addition, the rising number of government initiatives for sharing Micro-mobility vehicles is anticipated to offer lucrative opportunities to the players across the global market.
Market Restraints
On the other hand, the factors such as complexity associated with designing and manufacturing a micro-mobile vehicle and lack of awareness may impede the growth of the micro mobility market.
Micro Mobility Market Segments
Among the travel ranges, the 20-40 km range is likely to dominate the global market for micro-mobility over the assessment timeframe. The segment includes easy-to-park, flexible, lightweight vehicles with better energy conservation.
Among all the application areas, the commercial sector will likely increase across the global micro-mobility market over the forecasted timeframe. The growth of the segment is attributed to the growth in different industries. Furthermore, the factors such as cost-efficiency and reliability of micro-mobility vehicles in short distances are also projected to catalyze the segment's growth over the assessment timeframe.
Browse In-depth Market Research Report (111 Pages) on Micro Mobility Market:
https://www.marketresearchfuture.com/reports/micro-mobility-market-8315
Among the weight capacity ranges, the 100 kg sector is anticipated to lead the growth of the micro mobility market over the projected timeframe. The growth of the segment is attributed mainly to cost-efficiency. Furthermore, the factors such as increasing customer base, wide product range, and flexibility are also projected to influence the segment's growth over the coming years.
Based on the end-users, the micro mobility services segment is anticipated to rule the global market for micro-mobility over the forecasted era.
Among all the transport modes, the electric scooters segment is anticipated to lead the global market for micro-mobility over the assessment timeframe. The flexibility of these vehicles is the primary aspect causing an upsurge in the segment's growth. Furthermore, the factors such as faster traveling within short ranges, easy-to-park, and excellent energy conservation are also projected to catalyze the segment's growth over the assessment timeframe.
Micro Mobility Market Regional Analysis
The global micro mobility market has recorded a massive rise in the growth rate in the last few years. The market is studied across five major regions: the Middle East & Africa, Latin America, Asia-Pacific, Europe, and North America.
As per the analysis reports by MRFR, the North American region is anticipated to lead the global micro-mobility market over the assessment timeframe. The significant aspect causing an upsurge in the regional market's growth is the higher adoption rate of the micro-mobility vehicles across the region. The region is anticipated to acquire a significantly larger size over the assessment era.
Ask To Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/8315
The micro mobility market for the Asia-Pacific region is likely to record a rapid growth rate over the forecasted era. The increased demand for micro-mobility vehicles both in industrial and commercial sectors is the primary aspect propelling the growth of the regional micro-mobility market.
COVID-19 Impact
The global COVID-19 pandemic has had a severe impact on the majority of market sectors across the globe. The global market for micro-mobility is no different than others. The global health crisis has represented the world with an extraordinary economic, healthcare, and humanitarian challenge. Several governments across the globe imposed partial or complete lockdown in order to stop the spread of the disease worldwide. Lockdown measures have assisted to include the spread of coronavirus but took an immense economic toll. On the corporate part, the automotive and mobility sectors are highly impacted across all the market sectors. But lockdown measures and shelter-at-home orders include the coronavirus; they have also caused severe financial hardship. Amidst a recent reality of working from home, forgoing outings to restaurants and grocery stores, and even canceling trips micro-mobility Industry broad a range of lightweight vehicles, such as mopeds, e-scooters, and bicycles, is witnessing revenue and ridership. With the number of passenger kilometers traveled lowered by 50% to 60% across the globe since the onset of the COVID-19 crisis, the use of micro-mobility solutions has dropped significantly. On the other hand, with the fall in the number of cases across the globe, the global economy is getting back on track. With the gradual growth in the automotive industry, the micro-mobility market is likely to witness a surge in demand over the assessment era.
Buy this Report:
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=8315
Micro Mobility Market Competitive Analysis
Dominant Key Players on Micro Mobility Market Covered are:
- Spin Scooters
- Volatility GmbH
- Sway Mobility
- Easy mile SAS
- Beijing Mobile Technology Co. Ltd
- LimeBike
- Zagster
- Scoot Network
Related Reports:
Commercial Vehicles Market Research Report: Information by Type, by Fuel Type, and by Region - Forecast till 2030
Fire Truck Market Research Report: Information by Type, Application and Region - Global Forecast till 2030
Agricultural Tractors Industry Research Report: Information By Engine Power, By Application, By Type, By Operation, By Driver Type and Region - Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
