Micro-mobility Market (By Vehicle Type: Electric Kick Scooters, Electric Skateboards, Electric Bicycles; By Battery; By Voltage) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global micro-mobility market was valued at USD 28.28 billion in 2021 and it is predicted to surpass around USD 69.56 billion by 2030 with a CAGR of 10.52% from 2022 to 2030.

Report Highlights

• The electric bicycles segment dominated the market in 2021 and accounted for more than 87% of the global revenue. The segment is projected to register a CAGR of over 15.1% over the forecast period.
• The electric kick scooters segment is anticipated to record the second-highest CAGR of 11.32% over the forecast period. 
• The sealed lead-acid battery segment dominated the market in 2021 and accounted for more than 55.31% of the global revenue. The segment is projected to register a CAGR of over 13.2% over the forecast period. 
• The below 24V segment dominated the market in 2021 and accounted for more than 75.9% of the global revenue. 
• The 36V segment is anticipated to register the highest CAGR of 16.3% over the forecast period. 
• The Asia Pacific region dominated the market in 2021 and accounted for over 47.07% share of the global revenue. 

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.

The market growth can be attributed to the growth of the shared micro-mobility service industry across the world, which has spurred the demand for electric kick scooters, electric bicycles, and electric skateboards. Companies such as Bird Rides, Inc.; Lime; Spin; and Uber Technologies Inc. offering electric scooter-sharing services, are procuring electric kick scooters mainly from manufacturers such as Ninebot-Segway, Yadea Technology Group Co., Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., and Xiaomi.

Furthermore, the penetration of electric kick scooter-sharing services is witnessing an exponential adoption rate since 2016. Companies such as YoBike and Pony Bikes; Urbo Solutions and Bleeper Bikes; and Bykeare offering electric bicycle-sharing services across Europe. The growth of the market can be attributed to the increasing adoption of scooters and bicycles as the preferred mode of transportation, especially from the time when electric kick scooters and electric bicycles entered this market space.

The Asia Pacific region is expected to emerge as the prominent region with China as the largest electric kick scooters market owing to the presence of several electric kick scooter manufacturers such as JIANGSU XINRI E-VEHICLE CO., Air wheel Holding Limited, Yadea Technology Group Co., Ltd., LTD., and Xiaomi in China. The country accounted for the largest share of the market in 2021. Moreover, the regional market growth can be attributed to the increasing need for reducing carbon emissions and developing technologically advanced and fast-charging stations.

Scope of The Report

Vehicle Type Insights

Based on vehicle type, the market is segmented into electric kick scooters, electric skateboards, and electric bicycles. The electric bicycles segment dominated the market in 2021 and accounted for more than 87% of the global revenue. The segment is projected to register a CAGR of over 15.1% over the forecast period as they are the most affordable and convenient alternatives to public transportation. Several countries are working toward boosting the use of electric bicycles using both regulatory and subsidies changes to decrease the stress on public transportation systems. Furthermore, compared to other transportation systems such as buses and cabs, electric bicycles are easy to charge, inexpensive, and do not require large investments in supportive infrastructure. Hence, an increase in the demand for electric bicycles across the world is being observed.

The electric kick scooters segment is anticipated to record the second-highest CAGR of 11.32% 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. The scooter-sharing market is currently witnessing a dynamic shift with the entry of global players such as Uber Technologies, Inc.; Bird, Inc.; Lyft; and Lime operating in the on-demand transportation industry.

Battery Insights

Based on battery, the market is segmented into sealed lead-acid batteries, Nickel-Metal Hydride (NiMH) batteries, and Lithium-ion (Li-ion) batteries. The sealed lead-acid battery segment dominated the market in 2021 and accounted for more than 55.31% of the global revenue. The segment is projected to register a CAGR of over 13.2% over the forecast period. These batteries are the preferred alternatives for manufacturers due to their cost-effectiveness. Additionally, their low self-discharging capability and ease of manufacturing are fueling their adoption of electric vehicles. However, the raw materials used for manufacturing these batteries include high toxic substances that release millions of tons of lead into the environment. This negative impact on the environment has led manufacturers to adopt alternative options for batteries, thereby leading to a comparatively slow segment growth 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. However, with increasing advancements in technology and growing demand for these batteries, the price of Li-ion batteries is reducing. The cost of lithium-ion batteries is expected to reduce annually by 6.5% over the next decade, thus directly impacting the price of electric vehicles. Therefore, the segment is expected to grow swiftly over the forecast period.

Voltage Insights

Based on voltage, the market is segmented into below 24V, 36V, 48V, and greater than 48V. The below 24V segment dominated the market in 2021 and accounted for more than 75.9% of the global revenue. It is anticipated to continue to dominate the market over the forecast period. Micro-mobility vehicles such as skateboards, scooters, and bicycles usually use less than 24V batteries, such as 12V or 18V rechargeable batteries, which provide enough power required for their motors and a low range of electric vehicles compared to other vehicle types. Electric vehicle manufacturers use sets of 12V or 18V lithium-ion batteries instead of sealed lead-acid batteries to reduce the weight of the vehicle and improve its overall efficiency.

The 36V segment is anticipated to register the highest CAGR of 16.3% 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 use of 36 V batteries is mainly catered through NiMH and Li-ion batteries as they are compact, offer better charging time, and do not release harmful chemicals compared to sealed lead-acid batteries.

Regional Insights

The Asia Pacific region dominated the market in 2021 and accounted for over 47.07% 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. The governments of economies such as India, China, and Japan are setting up standards and regulations for vehicle charging infrastructure and this is expected to have a positive impact on the regional market growth. Additionally, Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period.

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, the Middle East and Africa, and the Asia Pacific use electric kick scooters more as practical transportation means. Consumer satisfaction, which can be measured with various parameters such as performance, maintenance expense, and durability, is an essential factor for the vendors trying to retain existing customers or to attract new customers. However, vendors trying to attract consumers during the launch of any vehicle focus on two main factors, namely design/style and specifications.

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

• By Vehicle Type Outlook
• Electric Kick Scooters
• Electric Skateboards
• Electric Bicycles
• By Battery Outlook
• Sealed Lead Acid
• NiMH
• Li-ion
• By Voltage Outlook
• Below 24V
• 36V
• 48V
• Greater than 48V
• By Regional Outlook
• North America

• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa