Micro-mobility Market (By Vehicle Type: Electric Kick Scooters, Electric Skateboards, Electric Bicycles; By Battery: Sealed Lead Acid, NiMH, Li-ion; By Voltage: Below 24V, 36V, 48V, Greater than 48V) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global micro-mobility market size is expected to be worth around US$ 72.6 billion by 2030, according to a new report by Vision Research Reports.

The global micro-mobility market size was valued at US$ 28.42 billion in 2020 and is anticipated to grow at a CAGR of 17.7% during forecast period 2021 to 2030.

Report Coverage 

Growth Factors

 The growing carbon emission by traditional fuel-based vehicles has been a key concern for government authorities. The sustainability move toward smart cities is one of the key factors responsible for the adoption of eco-friendly and cost-effective transportation. Since the electric kick scooters, electric bicycles, and electric skateboards run on batteries, there are no carbon or gaseous emissions from these vehicles. This mode of transportation is gaining popularity amongst environmentally conscious commuters. Adopting such eco-friendly vehicles not only reduces the carbon and sulfur emissions in the atmosphere but also decreases fuel consumption. Furthermore, these vehicles use ultra-quiet chains for operating the electric motor, thereby facilitating noise-free rides.

Rapid urbanization and local commute requirements

In the recent years, urbanization has been attaining peak year on year, as majority of the population is shifting to urban areas, owing to increase in work opportunities and rapid industrialization. In this era of urbanization, daily commute between the workplace and residence is the need for every individual passenger, which is associated with travel time. Moreover, urban passengers are more inclined toward technologically advanced commute solutions along with its time-effective commute option to avoid unnecessary long traffic congestion along with green mobility. Thus, urban passengers are more dependent on technologically advanced solutions for daily commute, which significantly boosts the demand for micromobility services.

Rise in venture capital and strategic investments

The significant rise in the preference of carpool and bike pool services among regular office commuters is the primary factor contributing toward the growth of the ride hailing and ride sharing services. In addition, increase in services offered by the leading market players, including Uber and Ola, and the option to choose convenient pick-up and drop locations are encouraging consumers to opt for ride hailing and ride sharing services. Moreover, significant rise in the number of multiple ride-hailing and ride-sharing services, such as bike sharing and auto sharing services, even for short distance travel fuels the growth of the micromobility market. Furthermore, ride sharing service providers are offering advantages such as affordable doorstep pick-up and drop, co-passenger information, and higher convenience as compared to the traditional transport service providers. This is expected to propel the demand for ride share services. In addition, several service providers offer various facilities, offers, and discounts, such as monthly pass on shared ride, to reduce the expenses of daily commuters. 

Covid-19 Impact Analysis

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the automotive and mobility sectors are among the hardest hit. While lockdown measures and shelter-at-home orders are helping contain the coronavirus, they have also brought severe financial hardship. Amid a new reality of working from home, canceling trips, and even forgoing outings to restaurants and grocery stores, the micromobility industry encompassing a range of lightweight vehicles, such as bicycles, e-scooters, and mopeds, is facing devastating declines in ridership and revenue. With the number of passenger-kilometers traveled declining 50% to 60% worldwide since the onset of the COVID-19 crisis, use of micromobility solutions has declined dramatically.

Report Highlights

 Based on vehicle type, the micro-mobility market is segmented into electric kick scooters, electric skateboards, and electric bicycles. The electric bicycles segment dominated the market in 2020 and accounted for more than 8% of the global revenue. The segment is projected to register a CAGR of over 14.8% over the forecast period as they are the most affordable and convenient alternatives to public transportation. 

The electric kick scooters segment is anticipated to record the second-highest CAGR of 10.5% over the forecast period. The demand for these scooters has increased since 2017 owing to large investments by players in the electric scooter-sharing market as it is still in the transition phase. 

Based on battery, the market is segmented into sealed lead acid battery, Nickel-Metal Hydride (NiMH) battery, and Lithium-ion (Li-ion) battery. The sealed lead-acid battery segment dominated the market in 2020 and accounted for more than 55.0% of the global revenue. The segment is projected to register a CAGR of over 12.10% over the forecast period.

The growing awareness of adopting eco-friendly batteries for their better performance, over sealed-lead acid and NiMH batteries has boosted the demand for Li-ion batteries. Since these batteries are high priced compared to the other two battery types, their adoption has resulted in an increased price of electric vehicles in the emerging markets. 

Based on voltage, the market is segmented into below 24V, 36V, 48V, and greater than 48V. The below 24V segment dominated the market in 2020 and accounted for more than 75.0% of the global revenue. It is anticipated to continue to dominate the market over the forecast period.

The 36V segment is anticipated to register the highest CAGR of 17.0% over the forecast period. The integration of 36V systems in electric vehicles not only increases the distance range but also improves the performance of the vehicle. 

The Asia Pacific region dominated the market in 2020 and accounted for over 48.0% share of the global revenue. Most players manufacturing micro-mobility vehicles operate in Asia Pacific, Europe, and North America regions. These players generate revenue by selling their products internationally, either through their distribution channels or through the OEM channel. 

Consumer demographic features vary among different regions. Electric kick scooter drivers from North America and Europe tend to perceive electric kick scooters more as a lifestyle while those from Latin America, Middle East and Africa, and Asia Pacific use electric kick scooters more as practical transportation means. 

Key Players

• Yadea Technology Group Co., Ltd.

• JIANGSU XINRI E-VEHICLE CO., LTD.

• Xiaomi

• SEGWAY INC.

• SWAGTRON

• Boosted USA

• Airwheel Holding Limited

• YAMAHA MOTOR CO., LTD.

• Accell Group

• Derby Cycle

Market Segmentation

• Vehicle Type

  • Electric Kick Scooters

  • Electric Skateboards

  • Electric Bicycles

• Battery

  • Sealed Lead Acid

  • NiMH

  • Li-ion

• Voltage

  • Below 24V

  • 36V

  • 48V

  • Greater than 48V

• Regional Outlook (Revenue, USD Million, 2018 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

The Micro-mobility market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Micro-mobility market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Micro-mobility market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Micro-mobility market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Micro-mobility market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Micro-mobility capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Micro-mobility by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Micro-mobility market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Micro-mobility market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Micro-mobility market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Micro-mobility industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Micro-mobility market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Micro-mobility market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Micro-mobility market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Micro-mobility market. These factors have benefited the growth of the global market for Micro-mobility. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Micro-mobility. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Micro-mobility are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.