The latest study on the Micro Mobility Market industry includes a detailed analysis of the future trends and demands for the forecast period, 2020 - 2032 . The report is furnished with the latest scenario and growth outlook of the market with regard to the impact of the pandemic.The report considers 2017-2018 as historical years, 2019 as the base year, and 2020- 2032 as the forecast timeline. The report offers strategic recommendations to the key stakeholders and investors to help them ascertain maximum returns on their investments and formulate new strategic business plans.
The global micro mobility market is expected to reach a market size of USD 290.39 Billion in 2028 and register a double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. Robust revenue growth of the market can be attributed to rapidly increasing range of transportation services and vehicles, including e-bikes, dockless and docked shared bicycles, electric scooters, and electric skateboards. Rising need to reduce traffic congestion in urban areas and reduce reliance on private vehicles and encourage use of public transport is also driving a shift towards micro mobility solutions.
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Drivers:
Several factors are propelling the growth of the Micro Mobility Market. Urbanization and population density in cities have led to increased traffic congestion, air pollution, and challenges with parking, prompting consumers to seek alternative transportation solutions. Micro mobility vehicles offer a practical and eco-friendly means of navigating urban environments, enabling users to bypass traffic congestion, reduce their carbon footprint, and access their destinations quickly and conveniently. Moreover, the rise of shared mobility services, such as bike-sharing and scooter-sharing programs, has democratized access to micro mobility vehicles, making them accessible to a broader segment of the population.
Restraints:
Despite its promising growth prospects, the Micro Mobility Market faces certain challenges that could impede its expansion. One of the primary restraints is the need for adequate infrastructure and regulation to support the safe and sustainable deployment of micro mobility vehicles in urban areas. Infrastructure challenges, such as the availability of designated bike lanes, parking facilities, and charging stations, can impact the usability and safety of micro mobility services. Additionally, regulatory frameworks governing micro mobility vary between jurisdictions, leading to uncertainty and compliance challenges for operators and users alike.
Key players operating in the market are
Bird Rides, Inc., Lime Scooter, Micro Mobility Systems Ltd.s, Ofo Inc., Mobike, Motivate International Inc. (Lyft), Pride Mobility Products® Corporation, Golden Technologies, Uber, and Invacare Corporation.
Segmentation :
Emergen Research has segmented the global micro mobility market on the basis of application, type, travel range, weight capacity, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
- Residential
- Commercial
Type Outlook (Revenue, USD Billion; 2021–2028)
- 2-wheeler
- 3-wheeler
- Others
Travel Range Outlook (Revenue, USD Billion; 2021–2028)
- Up To 20 Km
- 20-40 Km
- More than 40 Km
Weight Capacity Outlook (Revenue, USD Billion; 2021–2028)
- Up to 100 Kg
- 100-250 Kg
- More than 250 Kg
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The report classifies the global Micro Mobility Market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Micro Mobility Market products is expected to drive the demand for Micro Mobility Market , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
