Micromobility market to grow by USD 73.73 billion from 2022 to 2027, Market is fragmented due to the presence of prominent companies like Beam Mobility Holdings Pte. Ltd., COOLTRA MOTOS SLU and EV RIDEAR LLC, and many more - Technavio

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- The micromobility market is estimated to grow by USD 73.73 billion from 2022 to 2027, growing at a CAGR of 17.3%. The micromobility market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer micromobility market are Beam Mobility Holdings Pte. Ltd., Bird Global Inc., Bolt Technology OU, CITYSCOOT, COOLTRA MOTOS SLU, CycleHop LLC, Dynamic Bicycles Inc., Easymile SAS, ElectricFeel AG, emTransit SRL, EV RIDER LLC, Golden Technologies, Lyft Inc., Merits Health Products, Micro Mobility Systems AG, Neuron Mobility Pte. Ltd., Neutron Holdings Inc., Pride Mobility Products Corp., Vulog, and Yulu Bikes Pvt. Ltd. For details on companies and their offerings – Buy report!

Company Offering:

• Beam Mobility Holdings Pte. Ltd.: The company offers micromobility such as The Beam Saturn 5, The Beam Apollo 3, The Beam Rover
• COOLTRA MOTOS SLU: The company offers micromobility such as Cooltra.
• EV RIDER LLC: The company offers micromobility such as Next generation N3 e scooter, Ride with EB 1 ebike.
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By Geography, the market is classified as APAC, Europe, North America, Middle East and Africa, and South America. APAC will have the largest share of the market. With the momentous increase in venture capital investments in the region, micromobility in countries such as China, Japan, India, and Australia has been growing at a rapid pace in recent years. The regional market in focus is also positively influenced by the emergence of new players entering the market in focus with innovative propositions such as dockless bikes  Download FREE sample report to get more insights on the market share of various regions and contribution of the segments.

• Impactful driver- Increasing traffic congestion
• Key Trend - Rising use of subscription and membership business models
• Major Challenges - Technical challenges in deploying micromobility solutions

 Market Segmentation

• By Propulsion, the market is classified into human powered and electrically powered. The human powered segment is estimated to witness significant growth during the forecast period. The best alternative for short-term urban mobility is human-powered solutions, which are environmentally friendly. Conventional or human-powered bicycles offer efficient and affordable mobility, incentivizing users to be physically active and reducing carbon emissions. Their ability to address urban mobility problems while fostering environmental health and sustainability is a key factor for the popularity of human-powered micromobility.
• APAC is estimated to contribute 46% to the growth of the global market during the forecast period. The APAC region is home to a large number of suppliers, such as Youon Technology Co. Ltd., Yulu Bikes Private Limited, and Mobike established in China and India. New players coming on board with innovative concepts like soleless bicycles are also having a positive impact on the region's market.

Technavio Research experts have provided more insights on the market share of segments - View FREE Sample Report

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Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Propulsion

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio