Micromobility Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, Canada, China, UK, Germany - Size and Forecast 2023-2027

Micromobility Market Forecast 2023-2027

The micromobility market size is estimated to increase by USD 73.73 billion and grow at a CAGR of 17.3% between 2022 and 2027. The growth of the market depends on several factors, including increasing traffic congestion, rising trends of on-demand transportation services, and increasing awareness about green transportation modes. The market is witnessing substantial growth, primarily fueled by the mounting challenge of traffic congestion in urban centers across the globe. Factors such as rapid population expansion, increasing GDP per capita, and extensive urbanization are exacerbating the issue, further compounded by the widespread availability of affordable cars and motorized/electric vehicles. In response, micromobility solutions like bicycles, e-bikes, and electric scooters are gaining prominence as eco-friendly, cost-efficient alternatives, providing convenient transportation options amidst congested city streets. These compact vehicles address the demand for efficient last-mile connectivity and occupy minimal space, thus alleviating traffic congestion while fostering the development of smart cities and advanced transportation systems. 

What will be the Size of the Micromobility Market During the Forecast Period?

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Segmentation

This market report extensively covers market segmentation by propulsion (human-powered and electrically powered), type (docked and dock-less), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By Propulsion

The human powered segment is estimated to witness significant growth during the forecast period. Human-powered solutions are the best eco-friendly alternatives for short-distance urban mobility. Conventional or human-powered bicycles offer efficient and affordable mobility, incentivizing users to be physically active and reducing carbon emissions. Due to their portability and ease of use, scooters are very popular for ultimate rides.

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The human powered segment was the largest segment and was valued at USD 22.47 billion in 2017. Human-powered solutions are a useful and sustainable alternative in densely populated cities where traffic congestion is a major problem. In the global market, popular types of human-powered propulsion include scooters, city bikes, mountain bikes, and folding bikes.  A key factor in human-powered popularity is their ability to tackle urban mobility issues while promoting environmental health and sustainability. Due to these factors, the adoption of human-powered solutions will increase, driving the growth of the market during the forecast period.

By Regions

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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is home to most of the major suppliers, such as Youon Technology Co. Ltd., Yulu Bikes Pvt. Ltd., and Mobike, based in China and India. The market in the region is also positively affected by the emergence of new players entering in the market with innovative propositions such as soleless bikes.

Moreover, factors such as a rising middle-class population, significantly increased disposable income, increasing urbanization, and a growing health- and fitness-focused consumer have contributed to the growth of the market in the APAC region. It is expected to grow in the region as more workers are choosing Micromobility as their means of transportation from home to work. Therefore, the market is expected to grow during the forecast period. 

Market Dynamics and Customer Landscape

The market is experiencing significant growth, driven by the increasing popularity of bicycles, E-bikes, electric scooters, and electric skateboards in smart cities. As vehicle infrastructure evolves to accommodate small vehicles fleet owners, the market confronts challenges like bike vandalism and theft. Integration with intelligent transportation systems enhances micromobility offerings, catering to diverse propulsion types, including electrically powered and low-speed EVs. The market encompasses segments such as electric bicycles and E-kick scooters, featuring battery technologies like Li-Ion and NiMH to optimize voltage and range. Amidst fluctuating oil & gas prices, the Micromobility Market continues to thrive, offering efficient and sustainable urban transportation solutions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The market is experiencing significant growth, driven primarily by the escalating issue of increasing traffic congestion plaguing urban areas worldwide. Factors such as rapid population growth, rising GDP per capita, and exponential urbanization contribute to the congestion dilemma, exacerbated by the proliferation of affordable cars and motorized/electric vehicles. Micromobility solutions like bicycles, e-bikes, and electric scooters emerge as eco-friendly, cost-effective alternatives, offering hassle-free transportation amid congested roads. These small vehicles cater to the need for efficient last-mile connections and occupy minimal space, mitigating traffic congestion while promoting smart cities and intelligent transportation systems. As urban dwellers increasingly turn to micromobility for sustainable commuting options, the market is poised for significant expansion in the forecast period.

Significant Market Trends

The development of bike-sharing infrastructure is a primary trend in the global market. This trend supports the expansion of eco-friendly alternatives to tourism. In an effort to reduce traffic congestion and reduce carbon emissions, governments around the world are investing in dedicated bike lanes, docking stations, and bike-sharing initiatives.

For example, Paris has expanded its Velib bike-sharing program, while Barcelona has implemented a comprehensive urban mobility strategy with an emphasis on bicycle infrastructure. These programs encourage the use of these options, in addition to providing passengers with convenient and environmentally sustainable transportation options. Hence, such factors will boost the growth of the market during the forecast period. 

Major Market Challenge

Technical challenges in deploying the solutions affect the growth of the market. Building an efficient and sustainable infrastructure that can handle complex regulatory issues and manage user safety concerns is a challenge in the global sector. Highly congested urban environments, especially in regions like Southeast Asia, lack properly defined lanes for solutions such as bicycles or e-bikes, leading to road congestion and accident hazards.

Moreover, the presence of different laws on the use of electric scooters in Europe makes it difficult to provide seamless cross-border mobility services. In addition, concerns about electric motorcycle accidents and pedestrian collisions in North America have prompted the need for better driver education and safety measures. The extensive adoption of these solutions is hampered by such technical challenges. Thus, such factors are expected to impede the growth of the market during the forecast period. 

Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Micromobility Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Yulu Bikes Pvt. Ltd.: The company offers micromobility, such as Yulu Miracle GR.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• 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

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Propulsion Outlook 
  • Human powered
  • Electrically powered

• Type Outlook 
  • Docked
  • Dock-less

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile 
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is rapidly expanding, driven by the increasing popularity of electric skateboards, shared bicycles, and electric pedal-assisted bicycles in smart cities. As vehicle infrastructure evolves to accommodate small vehicle fleets owned by service provider firms, concerns over bike vandalism and theft prompt the integration of intelligent transportation systems and navigation features in mobile applications. The rise of E-kick scooters, hoverboards, and low-speed EVs further diversifies the market, attracting venture capital investment and government initiatives to promote clean energy and reduce CO2 emissions in the automotive sector. Despite challenges like bike damage and theft, innovations in battery technology, including Li-ion and NiMH, drive growth in the electric bicycle and kick scooter segments, shaping the future of micro-mobility solutions worldwide.

Moreover, the market is witnessing significant growth, driven by the rising popularity of electric pedal-assisted bicycles and electric kick scooters among small vehicle fleet owners and commercial sectors. With the proliferation of ridesharing and ride-hailing services, micromobility solutions offer a sustainable and convenient alternative for low-speed EVs and micro-mobile vehicles in urban environments. However, concerns over bike theft and vehicle propulsion type persist, prompting innovation in battery technologies like Nickel-Metal Hydride (NiMH) and Lithium-ion (Li-ion). As the market expands to encompass auto-sharing and carpooling, factors such as oil & gas prices and internet penetration shape the future landscape of micromobility solutions.

Electric pedal-assisted bicycles, alongside innovations like hoverboards, Intelligent transportation system, E-kick scooter, Electric scooter, Hoverboard, are revolutionizing urban mobility. These advancements align with the concept of intelligent transportation systems, offering sustainable and efficient alternatives for short-distance travel. With the integration of mobile applications, Micro-mobile vehicle, and Commercial sector light vehicles, users can seamlessly access and manage these micro-mobile vehicles, enhancing convenience and accessibility. As the demand for eco-friendly transportation solutions grows, electric scooters and micro-mobile vehicles play pivotal roles in addressing urban congestion and promoting cleaner, greener cities. 

Moreover, micro-mobility implants are reshaping the concept of personal transportation, offering compact and lightweight solutions for urban commuters. These electric bikes and scooters cater to the evolving needs of urban dwellers, providing flexible and convenient travel options that reduce congestion and improve air quality. Within the electric bicycle segment, there is a notable surge in demand, reflecting a growing preference for emission-free transportation solutions. Similarly, the electric kick scooter segment is experiencing rapid expansion, offering a convenient and affordable mode of travel for short distances.

Micromobility Market Scope
Report Coverage	Details
Page number	153
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 17.3%
Market growth 2023-2027	USD 73.73 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	16.76
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 46%
Key countries	US, Canada, China, UK, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	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.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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