The global micro mobility market is expected to reach a market size of
USD 290.39 Billion in 2028 and register a double-digit CAGR over the forecast
period, according to latest analysis by Emergen Research.
Robust revenue growth of the market can be
attributed to rapidly increasing range of transportation services and vehicles,
including e-bikes, dockless and docked shared bicycles, electric scooters, and
electric skateboards. Rising need to reduce traffic congestion in urban areas
and reduce reliance on private vehicles and encourage use of public transport
is also driving a shift towards micro mobility solutions.
Urban consumers are increasingly adopting
micro mobility solutions due to enhancement in connectivity, mobile payments,
quick battery charging, convenience of these solutions, and growing smartphone
penetration in urban and rural areas. Rising investments by companies offering
micro mobility solutions is also resulting in development of more
cost-effective and advanced vehicles in the micro mobility solutions market.
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The Micro Mobility research report also includes an insightful study of
the prominent players of the industry along with their business overview,
strategic planning, and business expansion plans adopted by them. This assists
the readers and business owners in formulating strategic expansion and
investment plans. The report focuses on mergers and acquisitions, joint ventures,
collaborations, partnerships, corporate and government deals, and others. The
report also talks about the expansions these prominent players are vying for in
the key regions of the market. The report focuses on a detailed analysis of the
technological and product developments undertaken by these companies.
Key players involved
in the market such as Bird Rides, Inc., Lime Scooter, Micro Mobility
Systems Ltd.s, Ofo Inc., Mobike, Motivate International Inc. (Lyft), Pride
Mobility Products® Corporation, Golden Technologies, Uber, and Invacare
Corporation.
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Emergen Research has segmented the
global micro mobility market on the basis of application, type, travel range,
weight capacity, and region:
Application Outlook (Revenue, USD
Billion; 2021–2028)
Residential
Commercial
Type Outlook (Revenue, USD Billion;
2021–2028)
2-wheeler
3-wheeler
Others
Travel Range Outlook (Revenue, USD
Billion; 2021–2028)
Up To 20 Km
20-40 Km
More than 40 Km
Weight Capacity Outlook (Revenue, USD
Billion; 2021–2028)
Up to 100 Kg
100-250 Kg
More than 250 Kg
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On the basis of regional analysis, the market
is segmented into the following regions: North
America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The market is expected to be dominated by North American nations closely
followed by European countries. Asia Pacific is expected to show a significant
growth owing to recent advancements and rising investments in the R&D
sector.
Key Highlights of Report
In June 2019, Bird Rides announced the launch
of a new electric micro mobility offering named Bird Cruiser, which is a new
seated electric vehicle. The new electric micro mobility offering increases
access for a greater number of individuals who want to adopt eco-friendly
transportation in place of car trips.
The residential segment accounted for largest
market share of 59.4% in 2019. Rapid urbanization and population increase are
factors causing an exponential increase in congestion, which is driving demand
for micro mobility solutions for use in residential areas.
3-wheeler segment revenue is expected to
expand at a rapid CAGR of 19.3% during the forecast period. Better balance
offered by 3-wheelers as compared to two-wheeler makes them a more convenient
and safer option for covering a longer distance.
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The report addresses the following key points:
The report estimates
the expected market size from 2021-2028
The report provides
a forecast of market drivers, restraints, and future opportunities for the Micro
Mobility market
The report further
analyses the changing market dynamics
Regional analysis
and segmentation of the market with analysis of the regions and segments
expected to dominate the market growth
Extensive
competitive landscape mapping with profiles of the key competitors
In-depth analysis of
business strategies and collaborations such as mergers and acquisitions adopted
by the key companies
Revenue forecast,
country scope, application insights, and product insights
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