Micromobility market is anticipated to grow at a significant of 11.8% during the forecast period (2024-2031). Micromobility refers to a range of small, lightweight vehicles, driven by users personally. Micromobility devices include bicycles, e-bikes, electric scooters, electric skateboards, shared bicycle fleets, and electric pedal assisted (pedelec) bicycles. Micromobility has rapidly proliferated in cities nationwide, proving to be a popular transportation option for many users. In response to the increasing demand for walking and bicycling facilities in cities and towns across the country, many jurisdictions are exploring micromobility as an alternative mode for short trips and active transportation.
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Government Initiatives to Drive Micromobility Market
The growing investment and cooperation of the government in promoting micromobility transportation as an eco-friendly alternative to public transportation in urban areas is a major factor driving the global market. For instance, in July 2022, Neuron Mobility Pte. Ltd. partnered with Transport for New South Wales and Western Sydney Parklands for the state’s e-scooter trials. Apart from this, in December 2021, Voi Technology raised $115 million in an oversubscribed, convertible, and debt financing round that will enable Voi to continue expanding its mobility platform into new markets next year.
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Campaigns Promoting Micromobility
The increasing campains to promote micromobility is a key factor driving the growth of the global micromobility market. For instance, in April 2024, ADO E-bike has launched an Indiegogo crowdfunding campaign for a new lightweight folding model: the Air Carbon. The e-bike weighs 12.5 kg (~27.6 lbs) and offers a 100 km (~60 miles) assistance range. Plus, those who pledge to the campaign could receive the electric bicycle with a 40.0% discount. In same month, in a bid to encourage eco-friendly transportation and celebrate the spirit of environmental consciousness, DYU Electric Bikes announced its April Eco-Riding Campaign. This initiative offers substantial discounts on a selection of DYU's electric bikes, making sustainable commuting more accessible to everyone. The campaign aligns with global efforts to promote environmental sustainability by reducing carbon footprints, one ride at a time.
by Battery Type (Lithium-ion and Lead-Acid),
by End-user (Personal and Commercial)
Market Players Outlook
The major companies serving the global micromobility market include Dongguan Tailing Electric Vehicle Co., Ltd., Yadea Technology Group Co., Ltd., Hero Electric Vehicles Pvt. Ltd., Gogoro Inc., and NIU Technologies among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. Funding for startups by major manufacturers is also contributing to the global market growth. For instance, in July 2023, Tunisia-based mobility startup Kaco has raised an undisclosed amount in a fundraising round from UGFS North Africa. Founded in 2018 by Salmi Med Ali, Kaco is a local Tunisian manufacturer of electric scooters, called the Orca. The new round will allow Kaco to finalise the construction of a production facility with a capacity of manufacturing a thousand scooters per year.
The Report Covers
Market value data analysis of 2025 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global micromobility market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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