Micro-Mobility Market Size Worth $11.26 Billion By 2032 | CAGR: 12.6%

Micro-Mobility Market Size Worth $11.26 Billion By 2032 | CAGR: 12.6%

The global micro-mobility market size is expected to reach USD 11.26 billion by 2032, according to a new study by Polaris Market Research. The report “Micro-Mobility Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Kick Scooters, Electric Skateboards, and Electric Bicycles); By Battery; By Voltage; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapid growth in the urbanization rate and development of the smart cities along with an emerging focus on the smart cities initiatives and stringent regulations on greenhouse emissions imposed by several governments worldwide are key factors propelling the global market growth. For instance, European Commission stated that the total smart cities projects is likely to exceed the value of USD 2 trillion by the end of 2025, and Europe is stimulating the highest investment in the sector globally, with around 12 cities in the European region will be ranking among top 25 in the world.

Micro-mobility vehicles including bicycles, skateboards, and e-kick scooters can be easily parked outside the street and campuses and further allow its users to pick up and rise as, without need to wait as in a public transportation. It also offers fare comparison, availability of vehicles, flexibility, and many other features including real-time feedback, easy navigation, online payment access, and mobile application, thus the market for micro-mobility would increase significantly in the near future.

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Furthermore, in the last few years, many companies are introducing their advanced and innovated e-bikes, wherein the SIM module, that enables the e-bike to easily send and receive data without a connected phone, and many other features including automatic emergency calls, integrated navigation calls, social media connection, among others. Companies are high focusing on the development of anti-theft alarm systems and GPS tracking to reduce bike theft and vandalism. Thus, the trend of telematics and connected technologies among e-bike manufacturers will positively influence the market.

For instance, in January 2023, EMotorad, introduced its latest premium e-bikes in India, within a state-of-the-art frame and comes with exact actuation technology. The company unveiled its innovated e-bikes with advanced IoT technology and users will also be able to leverage GPS and go-tracking features for navigation and safety purposes.

Micro-Mobility Market Report Highlights

  • Electric bicycles segment accounted for largest market share in 2022, which is mainly driven by its low cost and numerous advantages like maintenance free and environmental-friendliness
  • Sealed lead acid segment dominated the global market in 2022, owing to the high prevalence for these batteries due to its high reliability and sustainability
  • 36V segment is expected to expand at fastest growth rate over the anticipated period on account of the wide adoption for the 36V batteries to enhance the overall performance of the electric vehicles
  • Asia Pacific region is likely to grow at considerable growth rate during the projected period, which is mainly accelerated to continuous rise in the sales of electric scooters and bicycles in the region
  • The global key market players include Yadea Technology, Yamaha Motor., Raine Scooters, Unagi Scooters, and Accell Group

Polaris Market Research has segmented the micro-mobility market report based on vehicle type, battery, voltage, and region:

Micro-Mobility, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Electric Kick Scooters
  • Electric Skateboards
  • Electric Bicycles

Micro-Mobility, Battery Outlook (Revenue - USD Billion, 2019 - 2032)

  • Sealed Lead Acid
  • NiMH
  • Li-ion

Micro-Mobility, Voltage Outlook (Revenue - USD Billion, 2019 - 2032)

  • Below 24V
  • 36V
  • 48V
  • Greater than 48V

Micro-Mobility, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa