Micromobility market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. Micromobility is a type of lightweight transportation that is geared for one-on-one use and operate at a speed of not more than 15 miles per hour (25 km/h). Micromobility transportation is mainly focused on urban transportation that weighs less than 500 kgs. It includes electronic scooters and e-bikes, traditional bicycles and scooters, electric skateboards, electric water bikes, and hoverboards. The factors such as rapid industrialization, development of smart cities, and vehicle infrastructure, rising oil and gas prices, and growing initiatives by both public and private stakeholders in favor of eco-friendly means of transportation are primary factors driving the growth of the market. For instance, in May 2022, Neuron pledged to be Carbon Negative by 2025. The company launched its Impact Report titled “Meeting Micromobility’s Potential”, which highlights the positive impact of neurons on the environment, economy, and community. Further, in November 2021, Voi pledged to become climate positive across all its towns and cities by 2030.

Additionally, the growing investment and cooperation of the government in promoting micromobility transportation as an eco-friendly alternative to public transportation in urban areas is another factor anticipated to drive the demand for a micromobility transportation system during the forecast period. For instance,  in July 2022, Neuron Mobility Pte. Ltd. partnered with Transport for New South Wales and Western Sydney Parklands for the state’s e-scooter trials. Apart from this, in December 2021, Voi Technology raised $115 million in an oversubscribed, convertible, and debt financing round that will enable Voi to continue expanding its mobility platform into new markets next year.

Segmental Outlook 

The global micromobility market is segmented based on the type and battery type. Based on the type, the market is segmented into electric kick scooters, electric skateboards, and electric bicycles. Based on the battery type, the market is sub-segmented into lead-acid, nicked metal, hydride, and lithium-ion.  Among the type, the electric bicycle is anticipated to account for a considerable share in the market during the forecast period.

Among battery sizes, the lithium-ion sub-segment is anticipated to hold the dominant share in the market during the forecast period. Lithium-ion batteries can store a large quantity of energy and recharge many times with minimal degradation. The factors such as falling battery prices and new emerging markets such as electric vehicles and energy storage systems (ESS) are driving the growth of the micromobility market. For instance, in July 2021, Li-Cycle and Helbiz partnered to Advance Battery Recycling in micromobility.

Regional Outlooks

The global micromobility market is further segmented based on the region including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  Among regions, the North American region is anticipated to hold a prominent share, while the Asia-pacific region is anticipated to have considerable growth in market share during the forecast period.

Global Micromobility  Market Growth, by Region 2022-2028

The North American Region is Expected to Hold the Considerable Share in the Global Micromobility Market 

Among all the regions, North America is expected to hold a considerable share in the micromobility market across the globe. The primary factor bolstering the growth of the market includes the increasing concerns over congestion in an urban area, the high costs of owning a vehicle, and the rising awareness related to environmental impact are leading factors driving the growth of the micromobility market in the region. Further, also the emergence of electric scooter-sharing fleets, the emerging need for an alternative mode of transportation for short distances, and the availability of smart charging stations are factors anticipated to drive the market in the region for the forecast period.

Market Players Outlook

The major companies serving the global micromobility market include Beam Mobility Holdings Pte. Ltd., Bird Rides, Inc, ElectricFeel AG, Voi Technology AB, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2022, Voi partnered with Drover AI to deploy computer vision to tackle pavement riding and fix parking across Europe. Drover AI uses machine learning and computer vision to accurately and reliably identify whether the e-scooter is on the pavement, road or cycle lane PathPilot will supercharge Voi’s geo-fencing capabilities as well as help the operator and local authority govern and control how and where scooters are ridden and parked.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global micromobility market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.