Micromobility Global Business Report 2024: Market to Reach $9.4 Billion by 2030, Driven by Increasing Adoption of Electric Scooters and E-Bikes, & Focus on Sustainability and Carbon Emission Reduction

Micromobility Market

Dublin, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The "Micromobility - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.The global market for Micromobility was estimated at US$4.1 Billion in 2023 and is projected to reach US$9.4 Billion by 2030, growing at a CAGR of 12.4% from 2023 to 2030. Micromobility is rapidly gaining popularity in urban transportation systems as cities around the world seek efficient, affordable, and eco-friendly solutions to address traffic congestion, pollution, and last-mile connectivity challenges.This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

What Is Driving the Growth of the Global Micromobility Market?The growth of the global micromobility market is being driven by several key factors, including urbanization, technological advancements, sustainability goals, and shifting consumer preferences. One of the primary drivers is the rapid urbanization taking place around the world. As more people move into cities, the demand for efficient, flexible, and cost-effective transportation options is rising. Traditional modes of urban transportation, such as cars and public transit, often struggle to keep up with the growing population density, leading to traffic congestion, pollution, and longer commute times. Micromobility solutions, such as e-scooters, e-bikes, and shared bicycles, offer a practical alternative for short-distance trips, helping to alleviate traffic and provide a more accessible transportation option for urban dwellers.Another significant driver of market growth is the increasing focus on sustainability and reducing greenhouse gas emissions. Governments and municipalities are implementing stringent environmental regulations and promoting clean transportation options as part of their efforts to combat climate change. Micromobility, which includes electric-powered vehicles that produce zero emissions, fits perfectly into these sustainability goals. E-scooters and e-bikes provide a greener alternative to gas-powered vehicles, helping cities reduce their carbon footprints and improve air quality. Many cities are offering incentives, such as subsidies or grants, to encourage the adoption of micromobility solutions as part of broader climate action plans, further driving demand for these vehicles.Technological advancements are also playing a major role in the expansion of the micromobility market. The development of more durable, efficient, and connected vehicles has made micromobility more attractive to both consumers and operators. Improvements in battery technology, charging infrastructure, and vehicle durability have extended the range and lifespan of e-scooters and e-bikes, making them more reliable for daily commuting. At the same time, digital platforms and apps have made it easier for users to access micromobility services, track their rides, and make payments, enhancing the overall user experience. The integration of IoT and GPS technology allows operators to optimize fleet management, track vehicle usage, and prevent theft, contributing to more efficient and scalable micromobility operations.The growing popularity of shared mobility services is another important factor driving the market. Shared e-scooter and e-bike services offer a flexible and affordable transportation option that can be accessed on-demand, without the need for ownership. As more cities embrace shared mobility models, micromobility is becoming a mainstream mode of transport, particularly among younger, tech-savvy urban residents. The ability to rent a vehicle via smartphone apps has made micromobility more convenient and accessible, while also reducing the need for personal car ownership. This trend toward shared, on-demand transportation is expected to continue fueling the growth of the micromobility market in the coming years.In addition to these factors, the increasing integration of micromobility into broader urban transportation ecosystems is contributing to market growth. Many cities are incorporating micromobility options into their public transportation networks, offering seamless connectivity between micromobility vehicles and buses, trains, and subways. This integration allows for a more cohesive and efficient urban transportation system, where micromobility solutions fill the gaps in last-mile connectivity. As cities continue to develop smarter, more connected transportation infrastructure, the role of micromobility in providing flexible, sustainable, and efficient urban transportation is expected to grow.The combination of urbanization, technological advancements, sustainability goals, and the rise of shared mobility is driving the rapid expansion of the global micromobility market. As cities continue to prioritize sustainable transportation and reduce reliance on cars, micromobility solutions are poised to play a key role in shaping the future of urban mobility, offering a more efficient, eco-friendly, and accessible alternative for short-distance travel.

How Are Changing Consumer Preferences and Urban Policies Shaping the Micromobility Market?Changing consumer preferences and evolving urban policies are shaping the micromobility market, driving its growth and adoption across cities worldwide. One of the key trends influencing consumer behavior is the growing demand for flexible, on-demand transportation options that offer convenience and affordability. As urban commuters seek alternatives to traditional transportation methods, such as cars and public transit, micromobility solutions provide a viable option for short-distance travel.

The rise of shared mobility services, where users can rent e-scooters or e-bikes via apps on a pay-as-you-go basis, has made micromobility more accessible, particularly for people who do not want to own or maintain their own vehicles. These shared services align with the broader trend toward "mobility as a service" (MaaS), where transportation is seen as a flexible, subscription-based service rather than a product to own.Urban policies are also playing a crucial role in shaping the micromobility landscape, as city governments look for innovative ways to reduce traffic congestion, improve air quality, and enhance urban livability. Many cities have introduced policies to promote micromobility, such as building dedicated bike lanes, implementing vehicle-sharing programs, and offering subsidies or incentives for users to adopt e-scooters and e-bikes.

Some cities have even designated micromobility-friendly zones, where cars are restricted, and pedestrians and cyclists are given priority. These policies are aimed at encouraging a shift away from car dependency and promoting greener, more sustainable transportation options. At the same time, cities are implementing regulations to ensure the safe and orderly use of micromobility vehicles, including speed limits, designated parking areas, and helmet requirements, all of which help integrate micromobility into existing transportation networks.The COVID-19 pandemic has further accelerated changes in consumer preferences and urban policies. During the pandemic, micromobility solutions like e-scooters and bikes offered a socially distanced alternative to crowded public transportation, leading to a surge in usage in many cities. As cities rethink their transportation strategies post-pandemic, micromobility is increasingly being seen as a critical component of resilient, flexible, and sustainable urban mobility systems. With growing interest in healthier, eco-friendly modes of transport, micromobility is well-positioned to play a major role in the future of urban transportation, aligning with consumer demand for safe, efficient, and environmentally conscious travel options.Key Insights:

Market Growth: Understand the significant growth trajectory of the E-Bicycles Vehicle Type segment, which is expected to reach US$6.7 Billion by 2030 with a CAGR of a 12.2%. The E-Bikes Vehicle Type segment is also set to grow at 13.0% CAGR over the analysis period.

Regional Analysis: Gain insights into the U.S. market, estimated at $1.1 Billion in 2023, and China, forecasted to grow at an impressive 11.6% CAGR to reach $1.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.

In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

Company Profiles: Coverage of major players such as Aeris Communications, Inc., Bird Rides, Inc., Bolt Technology OU, and more.

Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Questions Answered:

How is the Global Micromobility Market expected to evolve by 2030?

What are the main drivers and restraints affecting the market?

Which market segments will grow the most over the forecast period?

How will market shares for different regions and segments change by 2030?

Who are the leading players in the market, and what are their prospects?

Key Attributes:

Report Attribute

Details

No. of Pages

173

Forecast Period

2023 - 2030

Estimated Market Value (USD) in 2023

$4.1 Billion

Forecasted Market Value (USD) by 2030

$9.4 Billion

Compound Annual Growth Rate

12.4%

Regions Covered

Global

Key Topics Covered: MARKET OVERVIEW

Influencer Market Insights

World Market Trajectories

Micromobility - Global Key Competitors Percentage Market Share in 2024 (E)

Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

Increasing Adoption of Electric Scooters and E-Bikes Expands Addressable Market for Micromobility

Focus on Sustainability and Carbon Emission Reduction Strengthens Business Case for Micromobility Adoption

Case Overview: Growth in E-Commerce and Delivery Services Fuels Demand for Cargo E-Bikes and Scooters

Technological Innovations in Smart Locking and GPS Tracking Systems Propel Growth in Shared Micromobility Platforms

Increasing Focus on Subscription-Based and Pay-Per-Use Micromobility Models Expands Addressable Market

Case Overview: Rising Popularity of Micromobility in Tourist Destinations Bodes Well for Market Growth

Technological Advancements in Autonomous and AI-Driven Micromobility Devices Propel Innovation

Focus on Developing Safe and Accessible Bike Lanes Expands Opportunities for Micromobility Adoption

Increasing Use of Micromobility Solutions in Corporate and Campus Transportation Expands Market Reach

FOCUS ON SELECT PLAYERS (Total 38 Featured)

Aeris Communications, Inc.

Bird Rides, Inc.

Bolt Technology OU

CycleHop, LLC.

Helbiz, Inc.

Hellotracks

INVERS GmbH

Lyft, Inc.

Micro Mobility Systems AG

Motivate LLC

For more information about this report visit https://www.researchandmarkets.com/r/m95nz6

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Micromobility Market