BANGALORE, India, Aug. 18, 2021 /PRNewswire/ -- The Micromobility Market is Segmented by Type Propulsion Type (Human Powered and Electrically Powered), Vehicle Type (E-kick Scooters, Bicycles, Skateboards, and Others), Sharing Type (Docked and Dock-less), and Age Group (15-34, 35-54, and 55 and Above): Global Opportunity Analysis and Industry Forecast, 2021–2030. It is published in Valuates Reports under Automotive Industry.
The global micromobility market was valued at USD 40.19 Billion in 2020 and is projected to reach USD 195.42 Billion by 2030, registering a CAGR of 17.4% from 2021 to 2030.
The micromobility market is still in its infancy, and its evolution or growth will be determined by regulatory approval and consumer acceptance.
Major factors driving the growth of micromobility market are:
- The rise in the trend of on-demand transportation services, government initiatives for smart cities, and rise in venture capital and strategic investments, supplement the growth of the global micromobility market.
- Increasing government attempts to establish bike-sharing infrastructure and intelligent transportation systems are predicted to drive the global micromobility market.
- Furthermore, in response to rising environmental concerns, government officials are giving incentives for the use of environmentally friendly transportation options such as bicycles and electric bikes. This is expected to propel the micromobility market growth.
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TRENDS INFLUENCING THE GROWTH OF MICROMOBILITY MARKET
The rise in the trend of on-demand transportation services is expected to drive the micromobility market. On-demand micromobility services include the availability of vehicles such as e-bikes and e-kick scooters, as well as other features such as real-time feedback, vehicle tracking, and user rating. Numerous mobile applications make the availability of these vehicles and the comparison of fares with the correspondent easier. Furthermore, the ability to pinpoint a customer's exact position, as well as the ability to match demand with available supply, are important drivers driving the micromobility market.
Increasing government initiatives for the development of bike-sharing infrastructure is expected to propel the micromobility market. Governments all over the world are providing subsidies to service providers in order to help them build stations and reach a larger number of commuters. Furthermore, in response to rising environmental concerns, government officials are giving incentives for the use of environmentally friendly transportation options such as bicycles and electric bikes.
MICROMOBILITY INDUSTRY SHARE ANALYSIS
Based on type, Electrically Powered is projected as the most lucrative segment. Based on sharing type, Docked is projected as the most lucrative segment. Based on age group, the population between 35-54 is projected as the most lucrative segment. Based on the region, LAMEA is expected to exhibit the highest CAGR of 25.9% during 2021-2030.
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MICROMOBILITY MARKET SEGMENTATION
Micromobility Market by Propulsion Type
- Human Powered
- Electrically Powered
Micromobility Market by Vehicle Type
- E-kick Scooters
Micromobility Market by Sharing Type
Micromobility Market by Age Group
- 55 and Above
- Beam Mobility Holdings
- Neuron Mobility
- Floatility GmbH.
Micromobility Market by Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
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- Electric Kick Scooters (E-Scooters) Market is segmented by Type Single Wheel Drive, Double Wheel Drive, by Application Adult, Children and by various regions.
- Electric Bike Market is expected to grow from USD 19,719.54 Million in 2019 to USD 36,466.04 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 10.78%.
- Electric Scooter and Motorcycle Market size was valued at USD 5560.9 Million in 2020 and is projected to reach USD 7618.5 Million by 2027, at a CAGR of 4.6% during 2021-2027.
- Bicycle market size was valued at USD 20,280.0 Million in 2019. Furthermore, the bicycle market growth is projected to reach USD 28,667.3 Million by 2027, registering a CAGR of 4.8% from 2021 to 2027.
- Pedelec market size was USD 11570 Million and it is expected to reach USD 33060 Million by the end of 2027, with a CAGR of 16.1% during 2021-2027.
- Vehicle electrification market was valued at USD 70.14 Billion in 2019, and is projected to reach USD 140.29 Billion by 2027, registering a CAGR of 11.3%.
- The Electric Vehicle Market was valued at USD 162.34 Billion in 2019, and is projected to reach USD 802.81 Billion by 2027, registering a CAGR of 22.6%.
- Zero Emission Vehicle (ZEV) market size was USD 73590 Million and it is expected to reach USD 291920 Million by the end of 2027, with a CAGR of 21.8% during 2021-2027.
- Electric Scooter market size is projected to reach USD 7384.9 Million by 2027, from USD 5703.5 Million in 2020, at a CAGR of 4.4% during 2021-2027.
- Shared Mobility market size is projected to reach USD 145460 Million by 2027, from USD 90690 Million in 2020, at a CAGR of 6.5% during 2021-2027.
- BYOD and Enterprise Mobility market size is projected to reach USD 120050 Million by 2027, from USD 49930 Million in 2020, at a CAGR of 12.9% during 2021-2027
- Smart mobility market size was valued at USD 34.04 Billion in 2019 and is projected to reach USD 70.46 Billion by 2027, registering a CAGR of 20.2%.
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