Micro Mobility: New Product Launches to Raise Market Demand

0
122
Micro Mobility

In recent years there has been an increase in the number of micro-mobility companies with companies such as Ofo and Mobike in China and Citi Bike and Jump Bikes in the US, which offer consumers suitable options for last-mile transportation. These companies are raising venture capital, showcasing both the consumer and investor demand for such last-mile transportation solutions. The global micro-mobility industry is expected to grow from 47.58 billion in 2021 to USD 202.41 billion by 2030, at a CAGR of 17.45% during the forecast period 2022-2030.

The electrically powered segment dominated the market, with a market value of around 34.67 billion in 2021

The propulsion type segment is divided into human powered and electrically powered. The electrically powered segment dominated the market, with a market value of around 34.67 billion in 2021. North America’s largest ride-hailing organizations have jumped into the micro-mobility sector for incorporating all forms of transportation into their portfolio of services.

The bicycles segment dominated the market, with a market value of around 19.19 billion in 2021

The vehicle use segment is divided into e-kick scooters, bicycles, skateboards, hoverboard, low speed evs, segway and mopeds & scooters. The bicycles segment dominated the market, with a market value of around 19.19 billion in 2021. Bicycles and eScooters have become a common phenomenon in the major cities.

The docked segment dominated the market, with a market value of around 24.80 billion in 2021

The sharing type segment is divided into docked and dock-less. The docked segment dominated the market, with a market value of around 24.80 billion in 2021. 

The 15-34 age group segment dominated the market, with a market value of around 30.98 billion in 2021

The age group segment is divided into 15-34, 35-54 and 55 and Above. The 15-34 segment dominated the market, with a market value of around 30.98 billion in 2021. To make cities more bike and pedestrian-friendly in the UK, around USD 300 million emergency fund is committed to the construction of new bike lanes and wider pavements.

Regional Segmentation Analysis

The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The Asia Pacific is expected to grow the fastest during the forecastperiod. The micro-mobility market in the Asia Pacific has been expanding rapidly. China dominates the micro mobility market in the Asia Pacific. The high urban population levels and the ultra-congested streets are leading the cities like Beijing and Shanghai to opt for micro-mobility solutions and switch to emission-free solutions. 

Competitive Analysis

The market’s major players include Electricfeel, Floatility GmbH, Beam Mobility Holdings PTE. Ltd, Bird Rides, DOTT, Yulu Bikes Pvt. Ltd, Zagster, Lime, Neuron and VOI among others.