Micromobility market is anticipated to grow at a significant of 11.8% during the forecast period (2024-2031). Micromobility refers to a range of small, lightweight vehicles, driven by users personally. Micromobility devices include bicycles, e-bikes, electric scooters, electric skateboards, shared bicycle fleets, and electric pedal assisted (pedelec) bicycles. Micromobility has rapidly proliferated in cities nationwide, proving to be a popular transportation option for many users. In response to the increasing demand for walking and bicycling facilities in cities and towns across the country, many jurisdictions are exploring micromobility as an alternative mode for short trips and active transportation.

Market Dynamics

Government Initiatives to Drive Micromobility Market

The growing investment and cooperation of the government in promoting micromobility transportation as an eco-friendly alternative to public transportation in urban areas is a major factor driving the global market. 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.

Campaigns Promoting Micromobility

The increasing campains to promote micromobility is a key factor driving the growth of the global micromobility market. For instance, in April 2024, ADO E-bike has launched an Indiegogo crowdfunding campaign for a new lightweight folding model: the Air Carbon. The e-bike weighs 12.5 kg (~27.6 lbs) and offers a 100 km (~60 miles) assistance range. Plus, those who pledge to the campaign could receive the electric bicycle with a 40.0% discount. In same month, in a bid to encourage eco-friendly transportation and celebrate the spirit of environmental consciousness, DYU Electric Bikes announced its April Eco-Riding Campaign. This initiative offers substantial discounts on a selection of DYU's electric bikes, making sustainable commuting more accessible to everyone. The campaign aligns with global efforts to promote environmental sustainability by reducing carbon footprints, one ride at a time.

Market Segmentation

Our in-depth analysis of the global micromobility market includes the following segments by vehicle type, battery type and and end-user:

• Based on vehicle type, the market is sub-segmented into electric kick scooters, electric skaters, and electric bicycles.

• Based on battery type, the market is sub-segmented into lithium-ion, NiMH and lead-acid.

• Based on end-user, the market is sub-segmented into commercial and personal.

Personal Use Sub-segment to Hold a Considerable Market Share

The global micromobilitys market is sub-segmented into personal and commercial use. Personal use sub-segment holds considerable share in the global market based on end-user. Micromobilitys are gaining popularity for personal use among users due to their eco-friendly nature. Affordablity, lightweight, low maintenance, and easily manoeuvrable are other benefits of micromobilitys which is making them highly sought after vehicle among millennials and low to middle-income groups. 

Additionally, the ongoing efforts of the manufacturers in incorporating connected vehicle technology in micromobilitys to enhance the riding experience is further aiding to the growth of this market segment. For instance, in June 2022, European micro-mobility operator Dott expanded its e-bike and e-scooter information available in Google Maps, making it easier for more people to discover shared vehicles in an efficient way to travel across cities. In addition, in May 2022, Bird Global, Inc. unveiled its new parking technology, Bird Visual Parking System (VPS), a new parking tool, powered by Google’s ARCore Geospatial API and enables geo-localize parked scooters with pinpoint accuracy by leveraging Google 3D scanning, augmented reality (AR) technology and Google map street view data from around the world. 

Regional Outlook

The global micromobility market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

Global Micromobility Market Growth by Region 2024-2031

Asia-Pacific Holds Major Market Share

Asia-Pacific holds major share in the global micromobility market. The presence of major players in the micromobility sector across China, India, and South Korea that are highly focused on new product launches to meet consumer demand is driving the regional market. For instance, in February 2024, mXmotohas introduced the metal-strong M16 e-bikes with strength and durability for the Indian roads. The M16 e-bikes by mXmoto come with an 8-year warranty on the battery, 80,000 km of seamless riding and three-year warranty on motor and controller. Apart from this positive outlook of population towards electric vehicles is further aiding to the regional market growth. The rising fuel prices, cohesive government policies, and availability of high range of micromobilitys are other factors aiding to the regional market growth. 

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global micromobility market include Dongguan Tailing Electric Vehicle Co., Ltd., Yadea Technology Group Co., Ltd., Hero Electric Vehicles Pvt. Ltd., Gogoro Inc., and NIU Technologies among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. Funding for startups by major manufacturers is also contributing to the global market growth. For instance, in July 2023, Tunisia-based mobility startup Kaco has raised an undisclosed amount in a fundraising round from UGFS North Africa. Founded in 2018 by Salmi Med Ali, Kaco is a local Tunisian manufacturer of electric scooters, called the Orca. The new round will allow Kaco to finalise the construction of a production facility with a capacity of manufacturing a thousand scooters per year.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• 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.