Press Release Description

Growing Smart Cities and Workplaces Projected to Boost the Global Micromobility Market Growth

The concept of micromobility is vastly popular in the developed regions such as America and European countries and is gradually shifting towards the developing nations. Owing to augmenting traffic congestion and high CO2 emission, thereby encouraging the government to promote electric vehicles in the developing nations. It is anticipated to boosting the demand for micromobility across the globe. For instance, the Japanese government set a target to increase the EVs market share by up to 30% by 2030. 

The smart cities and smart workplaces, which are increasing the adoption of greener modes of transportation such as e-bikes and e-scooters are projected to bring new market opportunities for the micromobility market players in the forecast period. Moreover, the demand for micromobility is gradually rising on account of its benefits such as affordability and ease of use coupled with lower micromobility rental services, which is showcasing the evident potential of market growth of the global micromobility market in the forecast period.

Growing E-Scooters in the Europe Region is Anticipated to Spur the Micromobility Market

According to the MarkNtel Advisors’ research report titled Global Micromobility Market Analysis, 2020”, the CAGR of the global micromobility market is expected to be more than 15% during 2020-25. The substantial speculation towards the development of the micromobility solution is the new market trend, thus an extensive rate of investment is changing the market outlook of the global micromobility market and pushing it towards growth.

The electric scooter segment is currently at a growing stage, and thus acquired a considerable market share in the global micromobility market in 2020. In Europe, the scooter sharing category dominated the micromobility market. Service providers in Madrid and Paris have a fleet of around 4,600 and 4,300 scooters in 2018. Moreover, according to the National Association of City Transportation Officials (NACTO), the addition of scooters into the ecosystem boosted the total number of micromobility trips from 35 million in 2017 to 84 million in 2018. Therefore, the market of the micromobility is projected to upsurge in the coming years, as stated in the MarkNtel Advisors’ research report “Global Micromobility Market Analysis, 2020”.

According to MarkNtel Advisors research report, the global micromobility market is highly fragmented. The market competitor in the Global Micromobility market are Hello bikes, Ofo, LimeBike, Skip Transportation, Spin Scooters, Sway Mobility, Scoot Network, Beijing Mobike Technology, and Bird Rides Inc., etc. In order to gain a competitive edge over the market, the market players through launches, mergers and acquisitions are boosting their market share in the region.

Industry Segmentation: 

1.    By Requirement (Fast & Last Mile Trip)
2.    By Application (Commercial, Private)
3.    By Autonomy Level (Manual, Semi-Autonomous, Autonomous)
4.    By Power Source (Man-Powered, Fuel-Powered, Hybrid Electric Vehicle, Plug-in Electric Vehicle, Battery Electric Vehicle)
5.    By Sharing Service Model (Station-based, Dockless, Hybrid)
6.    By Vehicle Type (Electric Scooter, Electric Skateboard, Electric Bicycle or Bikes, Pedal Bicycle, Others ((Electric Unicycle, Golf Carts, etc.))
7.    By Region (North America, Europe, South America, Asia-Pacific, Middle East & Africa)
8.    By Country (US, Canada, Mexico, Brazil, India, Japan, China, South Korea, Australia, UAE, Saudi Arabia, South Africa, Germany, UK, France, Spain, Italy, Belgium, Netherland)
9.    By Company (Hello bikes, Ofo, LimeBike, Skip Transportation, Spin Scooters, Scoot Network, Beijing Mobike Technology, and Bird Rides Inc., Uber, Rydies, Segway inc, Dynamic Bicycles, Micro Mobility System, etc.)

Key questions answered in the study: 

1.    What are the current and future trends of the Global Share Mobility market? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    What are the future plans and customer expectations of end-users across the regions? 
4.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
5.    What are the key growth drivers and challenges for the Global Micromobility market industry?
6.    What are the customer orientation, purchase behavior, and expectations from micromobility suppliers across various regions?