Micro Mobility Global Market Opportunities and Strategies to 2032

This report describes and explains the micro mobility market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global micro mobility market reached a value of nearly $43.6 billion in 2022, having grown at a compound annual growth rate (CAGR) of 12.4% since 2017. The market is expected to grow from $43.7 billion in 2022 to $110.7 billion in 2027 at a rate of 20.5%. The market is then expected to grow at a CAGR of 22.1% from 2027 and reach $300.4 billion in 2032.

Growth in the historic period resulted from strong economic growth in emerging markets, government support, shift in consumer preference towards mobility services and increasing demand for short-distance commutes. Factors that negatively affected growth in the historic period were safety concern and volatile raw material prices.

Going forward, strict environmental regulations and emission requirements, global population growth and urbanization, rise in demand for ride hailing and ride sharing services and increase in fuel prices will drive the growth. Factor that could hinder the growth of the micro mobility market in the future is low internet penetration in developing countries.

The micro mobility market is segmented by type into bicycles, scooters and other types. The bicycles market was the largest segment of the micro mobility market segmented by type, accounting for 70.1% of the total in 2022. Going forward, the other types segment is expected to be the fastest growing segment in the micro mobility market segmented by type, at a CAGR of 23.3% during 2022-2027.

The micro mobility market is segmented by speed into up to 25 km/h (kilometers per hour) and 25-45 km/h (kilometers per hour). The up to 25 km/h (kilometers per hour) market was the largest segment of the micro mobility market segmented by speed, accounting for 82.3% of the total in 2022. Going forward, the up to 25 km/h (kilometers per hour) segment is expected to be the fastest growing segment in the micro mobility market segmented by speed, at a CAGR of 20.9% during 2022-2027.

The micro mobility market is segmented by propulsion into human powered and electrically powered. The electrically powered market was the largest segment of the micro mobility market segmented by propulsion, accounting for 79.9% of the total in 2022. Going forward, the electrically powered segment is expected to be the fastest growing segment in the micro mobility market segmented by propulsion, at a CAGR of 21.6% during 2022-2027.

The micro mobility market is segmented by sharing type into docked and dock-less. The docked market was the largest segment of the micro mobility market segmented by sharing type, accounting for 54.1% of the total in 2022. Going forward, the median barriers segment is expected to be the fastest growing segment in the micro mobility market segmented by sharing type, at a CAGR of 21.4% during 2022-2027.

The micro mobility market is segmented by ownership into business to consumers and business to business. The business to consumers market was the largest segment of the micro mobility market segmented by ownership, accounting for 63.6% of the total in 2022. Going forward, the business to business segment is expected to be the fastest growing segment in the micro mobility market segmented by ownership, at a CAGR of 23.2% during 2022-2027.

North America was the largest region in the micro mobility market, accounting for 42.5% of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the micro mobility market will be Asia Pacific and Western Europe where growth will be at CAGRs of 25.1% and 19.7% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 19.3% and 18.3% respectively.

The global micro mobility market is fairly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 18.01% of the total market in 2022. Yadea Technology Group Co. Ltd was the largest competitor with 5.34%% of the market, followed by Xiaomi Corp with 4.15%, Ninebot Ltd with 2.46%, Jiangsu Xinri E-Vehicle Co Ltd with 1.53%, Meituan with 1.03%, Lime Micromobility with 0.96%, Tier Mobility with 0.74%, Pon Holdings with 0.65%, VOI Technology AB with 0.59% and Bird Global, Inc with 0.56%.

The top opportunities in the micro mobility market segmented by type will arise in the bicycles segment, which will gain $44.0 billion of global annual sales by 2027. The top opportunities in the micro mobility market segmented by speed will arise in the up to 25 Kmph (kilometers per hour) segment, which will gain $56.7 billion of global annual sales by 2027. The top opportunities in the micro mobility market segmented by propulsion will arise in the electrically powered segment, which will gain $57.9 billion of global annual sales by 2027. The top opportunities in the micro mobility market segmented by sharing type will arise in the docked segment, which will gain $38.6 billion of global annual sales by 2027. The top opportunities in the micro mobility market segmented by ownership will arise in the business to consumers segment, which will gain $37.7 billion of global annual sales by 2027. The micro mobility market size will gain the most in the USA at $24.9 billion.

Market-trend-based strategies for the micro mobility market include use of artificial intelligence (AI), focus on mobility hubs, focus on strategic partnerships and collaborations and acquisitions to improve their financial strength, product portfolio and geographical presence, focus on multimodal docking and charging stations to offer efficient charging solutions and provide customers with improved convenience, increasing investments to expand and build new products and technologies in the transportation industry and focus on electric micro mobility.

Player-adopted strategies in the micro mobility market include focus on enhancing its business operations through the launch of new products and focus on strengthening its operational capabilities through business expansions.

To take advantage of the opportunities, the recommends the micro mobility companies to focus on use of artificial intelligence (AI), focus on electric micro mobility, focus on mobility hubs, focus on increasing investments, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on offering services based on consumer preferences.