Micro Mobility Market To Be Driven By Expansion In E-Commerce Industry In The Forecast Period Of 2021-2028
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Increasing traffic congestion, rising air pollution levels, and longer urban commutes are some key factors driving growth of the global micro mobility market.
VANCOUVER, BC, CANADA, August 30, 2022 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the worldwide micro mobility market is anticipated to reach a market value of USD 290.39 billion in 2028 and show a double-digit CAGR over the forecast period. The rapidly expanding variety of mobility services and vehicles, such as e-bikes, dockless and docked shared bicycles, electric scooters, and electric skateboards, is responsible for the market's robust revenue growth.
Micro mobility solutions are becoming more popular because to the growing need to relieve urban traffic congestion, minimise dependency on private vehicles, and promote the use of public transportation. Due to improved connection, mobile payments, quick battery charging, the convenience of these solutions, and rising smartphone penetration in both urban and rural areas, urban customers are adopting micro mobility solutions at an increasing rate. The market for micro mobility solutions is seeing the development of more affordable and sophisticated vehicles as a consequence of increasing investments by businesses that provide these solutions.
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The Micro Mobility research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key players involved in the market such as Bird Rides, Inc., Lime Scooter, Micro Mobility Systems Ltd.s, Ofo Inc., Mobike, Motivate International Inc. (Lyft), Pride Mobility Products® Corporation, Golden Technologies, Uber, and Invacare Corporation.
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Key Highlights of Report
In June 2019, Bird Rides announced the introduction of the Bird Cruiser, a new seated electric vehicle that is part of their new electric micro mobility offering. With the introduction of the new electric micro mobility service, more people will have access to eco-friendly alternatives to driving.
In 2019, the residential segment held the biggest market share, with 59.4%. The demand for tiny mobility solutions for usage in residential areas is being driven by factors such as exponentially rising traffic and rapid urbanisation.
Revenue in the 3-wheeler segment is anticipated to increase quickly throughout the projection period, at a CAGR of 19.3%. When compared to two-wheelers, three-wheelers offer better balance, making them a more practical and secure option for travelling farther.
In 2019, the market for micro mobility saw a considerably high revenue share from the segment of up to 20 km. The travel range of up to 20 km is a key advantage that it offers, improving energy efficiency.
The Global Micro Mobility Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Micro Mobility market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Emergen Research has segmented the global micro mobility market on the basis of application, type, travel range, weight capacity, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
Residential
Commercial
Type Outlook (Revenue, USD Billion; 2021–2028)
2-wheeler
3-wheeler
Others
Travel Range Outlook (Revenue, USD Billion; 2021–2028)
Up To 20 Km
20-40 Km
More than 40 Km
Weight Capacity Outlook (Revenue, USD Billion; 2021–2028)
Up to 100 Kg
100-250 Kg
More than 250 Kg
Highlights of Table of Contents (TOC):
Overview of Global Micro Mobility Market
Competitive analysis of the Micro Mobility market
Regional analysis of Global Micro Mobility market production and revenue
Regional analysis of Global Micro Mobility market supply, consumption, and export & import
Type-based market analysis of global Micro Mobility production, revenue, and price trends
Application-based analysis of the global Micro Mobility market
Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Micro Mobility market
Global Micro Mobility market forecast (2021-2028)
Conclusion of the research report
Appendix
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