The micro-mobility market is estimated to grow from USD 3. 4 billion in 2022 to USD 6. 1 billion by 2027 at a CAGR of 12. 5% over the forecast period. The most vital driver for the development of micro-mobility is the rapid urbanization around the world.
New York, Nov. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Micro-Mobility Market by Type, Propulsion, Ownership, Sharing, Data, Travel Range, Speed and Region – Global Forecast to 2027” – https://www.reportlinker.com/p06361570/?utm_source=GNW
According to the World Health Organization (WHO), approximately 50% of the world’s population lives in urban areas, a proportion that is likely to increase to around 60% by 2025. The increasing number of cars used by a large section of this population has added to road traffic congestion and parking problems in urban areas. This has led to the rapid development of regularized public transport systems. However, with public transportation comes a challenge – last-mile mobility – which would primarily drive the demand for micro-mobility.
The e-bike is expected to register highest growth in micro-mobility market.E-Bikes provide an edge over the traditional bicycles with less effort to be put during the riding and give an easy and smooth riding experience.

The e-bike also offers speed up to 35 kmph which helps to commute the long distances for the user and go to high terrain.However, currently e-bike sharing has various challenges about charging and theft of battery and motor.

The business-to-consumer ownership model is expected to dominate the market during the forecast period due to increase in deployment of number of vehicles and growing trend of short commute distance within cities by using metropolitan transport organizations.The rising urban population and increase in development of smart cities further increase the demand for on-demand public transport.

Micro-mobility implementation is further driven by regulations and an emerging focus on smart city initiatives.
The smart cities include pop-up bike lanes, creating more open space, streets with only electric or low speed vehicles, dedicated lanes for micro-mobility devices are contributing towards the growth of micro-mobility market during the forecast period.As compared to other public transportation solutions, a micro-mobility services network is highly efficient.

Once a network being implemented, a city can reduce the burden on other types of public transportation systems.For instance, in October 2022, Glasgow city installs solar powered warning signs which illuminate a cycle symbol to alert drivers to the presence of cyclists.

Furthermore, in Paris, Action an electric vehicle charging system manufacturers offers docked stations charging system for e-bikes and e-scooters to park and charge in designated areas.In September 2022, emirate’s transport authority signed partnership agreement with Tier to deploy the e-kick scooters and e-bikes to build a safe and sustainable smart city.

The city of Paris is one of the most prominent examples of addressing cluttering and promoting proper scooter parking. The city defined clear goals to ensure that riders do not park on the city’s narrow sidewalks and ensure that riders end their rides in dedicated preferred parking. Paris established 2,500 dedicated parking bays across the city, reallocating public space from cars and two-wheelers to micro-mobility.
Increase in the sale of personal vehicles in the last 10 years has given rise to more traffic congestion and more pollution.The micro-mobility concept supposes that people use the e-kick scooters, e-bike, bicycles, and e-mopeds for the short-term distance for the daily commute as and when required, thus leaving the currently predominant ownership model of vehicles.

Car and bike dedicated infrastructure in urban areas such as roads and parking spaces can be reduced, and more infrastructure can be dedicated to sustainable transport and leisure space for inhabitants.For instance, London Transport Authority has been creating a temporary cycle lanes and other measures which improves the cycling?by more than 25%?without negatively impacting traffic.

Furthermore, City of Minneapolis launched a mobility hub pilot program, where people can conveniently access low or no carbon transportation options including transit, bicycles, shared scooters and electric car-sharing.However, various countries have speed and infrastructure regulations which impacts the growth of micro-mobility market.

Micro-mobility operators use public space to supply their mobility services. Some cities use a commercial model for the use of this space by charging a license fee for usage of the right-of-way and public infrastructure, similar to rent. Cities such as Bogota and Mexico City base regulatory fees on the need to invest in additional infrastructure to accommodate new mobility options. Mexico City licensed dock less bikes and e-bikes and e-kick scooters for use in a limited area of the central-western part of the city. In some cities micro-mobility companies need to pay regulatory fees. High regulatory fees are likely to limit the supply of micro-mobility and reduce socio-economic welfare. Ultimately, it may make micro-mobility businesses unviable.
As urbanization and utilization of public transport grows, micro-mobility solutions will be able to provide a better level of service for their customers, gradually moving users away from privately owned cars and bikes and further reducing traffic volume.These factors further reduce the carbon emissions in urban areas.

With purely zero-emission mobility services, this impact on CO2 emissions would be significantly greater. The micro-mobility allows users to share and rent the e-kick scooters, e-bike, and e-mopeds are climate friendly mobility solutions which relives the traffic congestion and significantly contribute to CO2 reduction.
With rising smart cities, increase in urbanization, and rise in need to reduce the pollution micro-mobility service providers are getting investments from various investors.For instance, TIER (Germany) raised more than USD 467 million since its founding and in November 2020, company generates USD 250 million from SoftBank.

Vogo (India) has raised USD 11.5 million in Series C funding, and it expects to turn a profit by the end of 2022. In February 2022, Beam Mobility Holdings Pte. Ltd. (Singapore) raised USD 93 million in Series B funding led by private equity firm Affirma Capital. In September 2022, Yulu (India), raised USD 85 million in series B funding from Magna (Canada) to enhance the battery swapping business. In September 2021, VanMoof, a Netherlands-based e-bike company, raised a USD 128M Series C funding.
The companies are also focusing on partnership and collaboration agreement with the universities, campuses, and major industrial units.For instance, Veo (US) has been partnered with University of Arkansas, University of Maryland, Rutgers University, and The University of Alabama to offer sustainable mobility within the campus and restrict the campus from vehicle emissions.

In August 2022, Spin (US) partnered with the NC State to advance micro-mobility innovation across campus.
“The e-kick scooter would lead the market due to the better aesthetics and higher comfort.”
Increase in demand for emission free vehicles, rising trend of swappable battery technology, rise in number of e-kick scooter sharing service providers, would rise the demand for e-kick scooters during the forecast period.Governments across the globe are taking initiatives for the usage of kick scooters on streets, which are encouraging people to opt for e-kick scooters as a mode of travel.

For example, In Belgium, both e-bikes and scooters are legally allowed on public roads, as long as riders stay under 25 km/h.Riders of e-scooters have to be aged 18 and older, and they’re not allowed on sidewalks.

In February 2021, Irish Minister for Transport Eamon Ryan, legitimate the use of electric kick scooters on public roads of Ireland without requiring tax, insurance, or driving license.Such regulations are supporting the e-kick scooters market and increasing the demand across the globe.

Moreover, higher penetration of e-kick scooters in the US, Canada, and Mexico with the presence of companies such as Lime and Bird are currently driving the demand from the Americas region.

Europe is projected to be the second largest market for micro-mobility
In Europe, developed economies such as the UK, Germany, France, and the Netherlands have been investing in smart transportation infrastructure.The social and trade agreements among European countries have promoted large-scale, cross-border trade and passenger traffic.

The region has seen rapid development and adoption of electric vehicles.The planned investments to improve urban transport and traffic infrastructure in France and the UK are expected to drive the European micro-mobility market.

Also, the region has the presence of fast-growing economies such as Spain, and Italy.In these countries, people prefer multiple modes of transportation.

The consumed demand for refined and low emission vehicles in the region has exposed the micro-mobility market. Also, the goal of reducing 80% CO2 emissions in Europe by 2050 has boosted the overall demand for electric vehicles in the region which will propel the growth of e-bikes, e-kick scooter, and e-mopeds.
Segregated cycling infrastructure and sufficient parking spaces across European cities are essential to encourage people to use small modes of transport.According to European Institute of Technology, 10% of all European traffic is related to parking searches.

The aim of Europe is to optimize movements of transits and reduce traffic congestion along with vehicular emissions. Also, the European region leads the micro-mobility markets because of the presence of leading players in these markets such as TIER, Bolt Technology OÜ, Voi, Felyx Sharing B.V., Wind Tel-Aviv (By-Byke) Ltd, and Splyt.

The Europe based startups are raising various investments and funding to grow the business and enhance its presence across the Europe. TIER raised more than USD 467 million up to October 2022, including USD 250 million round in November 2020 from SoftBank.

The Germany is projected to dominate the Europe micro-mobility market.Germany has a high number of micro-mobility service provider, a strong public transport system, high-quality cycling tracks, and hence, a strong micro-mobility infrastructure.

The use of micro-mobility is expected to increase because of increasing public concerns and increased government investment in the segment.The German Light Electric Vehicle regulation permits the use of e-kick scooters on public roads, only up to maximum speed limit of 20kmph, with restrictions of minimum age of users being set at 14 and continuous rated power limit of 500 watts.

The TIER, Voi, Bird, and Lime are some of the major players in German micro-mobility market and firstly offering services in large cities such as Berlin, Hamburg, and Munich.The various Netherlands based companies are also expanding its presence in Germany.

For instance, in August 2021, Felyx Sharing B.V. expanding its service network in German cities, such as Berlin, Düsseldorf and Hamburg. The company recently doubled its fleet to a total of 6,000 moped electric mopeds. According to primary insights there is growth for e-kick scooter in Germany.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: Micro-mobility Service Providers – 100%
• By Designation: C Level – 30%, Directors- 20%, and Others – 50%
• By Region: Europe – 40%, Asia Pacific – 30%, North America –20%, RoW – 10%
The micro-mobility market is dominated by a few globally established companies such as Bird Global, Inc. (US), Lyft, Inc. (US), Lime (US), Helbiz Inc. (US), Dott (Netherlands). TIER (Germany), Bolt (Estonia), Voi (Sweden), and Veo (US).

Research Coverage:
The study segments the micro-mobility market and forecasts the market size based on type (bicycles, e-bikes, e-kick scooters, and others), speed (up to 25 kmph and 25-45 kmph), propulsion (human powered and electrically powered), sharing type (docked and dock-less), ownership (Business-to-Business and Business-to-Consumer), data service (navigation, payment, and other data services), travel range (Up to 3 miles and 3-6 miles), and region (Asia-Pacific, Europe, and Americas).
The study also includes an in-depth competitive analysis of the major micro-mobility service providers in the market, along with their company profiles, key observations related to services and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall micro-mobility market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the market’s pulse and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06361570/?utm_source=GNW

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