Europe Electric Micro Vehicles Market Report and Forecast 2024-2032

Europe Electric Micro Vehicles Market Outlook

The Europe electric micro vehicles market size reached a value of about USD 943.8 million in 2021. The market is further expected to grow at a CAGR of 35.70% between 2024 and 2032.

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News and Developments in the Market

In May 2022, Micro Mobility System introduced the limited ‘Pioneer Series’, which is the first edition of Microlino. It comprises 999 light electric vehicles that would be rolled out of the lines in Turin, Italy. The series features a 10.5kWh battery for a range up to 177kms and would be available in two colours, Torino Aluminium and Atlantis Blue.

In May 2022, Renault confirmed that it would launch the Duo in H2 2023 in the United Kingdom to expand its mobility business across Europe. This two-seat electric car from its Mobilize mobility brand would be available in both van and passenger versions. The car uses the same bumpers on both sides to boost the cost-effectiveness, hide scratches, and enable easy swaps. Such launches are expected to significantly contribute to the Europe electric micro vehicles market development.

In April 2022, ElectricBrands acquired Artega to expand its product ranges by adding the latter’s flagship micro electric cars. Under the acquisition, the company would launch an electric two-seater KARO in H1 2024. The car is merely 1.50 metres wide, 2.48 metres long, offers a range of 200kms, and reaches a top speed of 90km/h, which make it ideal for urban mobility.

In September 2021, Citroen confirmed that its Ami microcar was to be sold in the United Kingdom by H1 2023 after above 12,000 British consumers registered their interest in the vehicle. Ami is more environmentally sound, more useful, and safer mobility solution than bicycles, mopeds, and scooters. 

Moreover, it measures 2.41 metres in length, features a tiny 5.5kWh lithium-ion battery, and claims a maximum speed of 28mph and a driving range of 43 miles. As various leading companies are expanding their product portfolio in Europe, the Europe electric micro vehicles market is witnessing rapid growth.

In July 2020, Triggo, a European engineering design company, made its announced for the expected launch of its first electric urban mobility vehicle in 2021. The micro electric vehicle combined the comfort and safety of cars with the parking benefits and manoeuvrability of scooters. Through the launch, the company aimed to meet the growing demand for “future oriented” mobility in large metropolitan European markets while easing the pressure on existing busy urban transport.

Rising Demand for High-Efficiency, Zero-Emission Vehicles, Increasing Preference for Innovative Urban Mobility Solutions, and Technological Advancements to Support the Europe Electric Micro Vehicles Market

Electric micro vehicles refer to one- or two-seater vehicle that are powered by batteries. They are typically lighter and smaller than standard electric vehicles. They are utilised as urban mobility solutions and can reduce urban congestion and air pollution. Moreover, they have compact sizes, smaller batteries, and bio-composite, and carbon fibre bodies.

• Electric micro vehicles offer benefits of zero-emission and high efficiency, which is boosting their popularity globally.

• With the robust growth of the automotive industry and the increasing demand for innovative urban mobility solutions, various leading Europe electric micro vehicles market companies are launching electric micro vehicles featuring easy chargeability, expanded seating spaces, and enhanced battery capacity and speed.

• Technological advancements and innovations are resulting in the development of electric micro vehicles with smart options such as remote connectivity and diagnostics, cruise control, and remote parking assist, among others.

Rising Demand for Sustainable Vehicles, Favourable Government Initiatives, and the Trend of Micromobility to Provide Lucrative Opportunities to the Europe Electric Micro Vehicles Market

Energy Efficiency and Sustainability Offered by Electric Micro Vehicles

Electric micro vehicles are sustainable and energy-efficient, due to which their utilisation is increasing.

Cost Benefits of Electric Micro Vehicles

Electric micro vehicles are more cost-effective than conventional electric vehicles, hence their preference is growing. 

Introduction of Favourable Government Initiatives

The governments across Europe are introducing various initiatives to boost the use of electric micro vehicles owing to the rising concerns regarding rapid climate change and decarbonise the transportation sector.

Growing Trend of Micromobility

The emerging trend of micromobility, especially in urban areas, is surging consumers’ inclination towards electric micro vehicles as they can be easily used in congested areas and offer hassle-free parking benefits.

Limited Charging Stations, Low Range and Driving Speed of Electric Micro Vehicles, and Scarce Customisation Options to Pose as Challenges in the Europe Electric Micro Vehicles Market

Limited Charging Infrastructure

The lack of charging infrastructure in suburban and rural areas may lower the use of electric micro vehicles.

Lower Driving Speed and Range of Electric Micro Vehicles

Electric micro vehicles have limited driving speed and range, due to which they are not preferred for long journeys.

Limited Customisation and Personalisation Options

Diverse models of electric micro vehicles are not typically available, which leaves consumers with limited choice to personalise and customise their vehicles.

Europe Electric Micro Vehicles Market Analysis

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Based on type, the market can be segmented into cruiser and touring. By end use, it can be bifurcated into goods carrier and passenger carrier. The major regions in the Europe market include Germany, France, Spain, Belgium, the United Kingdom, Switzerland, the Netherlands, Turkey, and Italy, among others. 

The comprehensive report by EMR offers an in-depth market assessment that is based on the Porter's five forces model while providing a SWOT analysis. 

The Europe electric micro vehicles market report provides a detailed analysis of the following key players in Europe and covers their competitive landscape and latest developments such as expansion plans, investments, and mergers and acquisitions.

• Renault Group

• Citroën

• TAZZARI EV

• Micro Mobility System AG

• smart Europe GmbH

• Space Options Limited (Siticars.com)

• Others

Passenger and Goods Carrier are the Significant End Use Segments in the Market

The passenger carrier segment represents a considerable share in the market due to the growing use of electric micro vehicles as personal mobility solutions. With the increasing congestion, accidents, and pollution in urban areas, electric micro vehicles serve as a viable alternative to conventional passenger cars. The Europe electric micro vehicles market is also being fuelled by the increasing penetration of various carsharing applications, which is surging the use of such vehicles for passenger carrier applications.

The goods carrier segment is likely to fuel the market growth on account of the rising utilisation of electric micro vehicles by courier services and small tradesmen. Such vehicles can also be utilised in intra-city transportation of light cargo due to their easy usage and cost-effectiveness. Electric micro vehicles with enhanced capacity and payload as well as swappable cargo modules are expected to be increasingly used in last-mile deliveries in the coming years.

Some of the leading Europe electric micro vehicles market trends include the increasing attempt to boost the affordability of last-mile logistics and the growing exploration of micro mobility solutions for use in various commercial and public applications. For instance, in October 2021, Royal Mail announced an upcoming trial of electric micro vehicles across various UK cities and towns for sustainable small parcel and letter deliveries. 

Rising Demand for Cruiser and Touring Electric Micro Vehicle Types to Drive the Market Growth

Cruiser electric micro vehicles posit the weather advantage of enclosed vehicles and the small size of pedal cars. They can carry up to 200kg weight and are safer and more comfortable than conventional scooters and bicycles. Such vehicles can also be driven on streets or on bicycle lanes. 

The touring segment of the Europe electric micro vehicles market is benefitting from the availability of touring electric micro vehicles in several configurations such as long-range, mid, and base, among others. They generally accommodate two occupants and offer enhanced sustainability benefits than traditional electric vehicles. 

Such advantages of cruiser and touring electric micro vehicles are bolstering their demand in micromobility applications, which is providing impetus to the market growth.

United Kingdom Represents a Considerable Share in the Market

The United Kingdom is significantly contributing to the Europe electric micro vehicles market expansion due to the increasing EV adoption in the country. The surging congestion in urban spaces is also prompting consumers to use electric micro vehicles, which have compact sizes and are easy to park.

The growing trend of micromobility and the increased launches of innovative vehicles in the country are also bolstering the Europe electric micro vehicles market share. For instance, In April 2019, Siticars, a London-based EV start-up, launched a compact two-seater microcar, Me, for drivers living in the ultra-low emission zone. The Me, available in a box van, pick up, and passenger car forms, can reach a top speed of 48.5mph, and claim a range of 93 miles from its 10bhp 72V electric motor. 

The market in France and Germany is growing on account of the increasing efforts by governments to enhance the use and ownership of electric vehicles. The rising awareness regarding the sustainability benefits of electric micro vehicles as compared to conventional electric vehicles is also anticipated to bolster their demand in the forecast period. 

The Europe electric micro vehicles market drivers include the growing automotive sector in the region, rising demand for battery-powered electric micro vehicles, and the increasing launches of innovative and cost-effective electric micro vehicles in France and Germany. For instance, in February 2020, Citroën launched Ami, a micro electric car, in France, which would be accessible to people from 14 years of age. 

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Competitive Landscape 

Renault Group is one of the leading automobile manufacturers that has unique alliances with Mitsubishi and Nissan. It has an extensive presence in 38 countries and boasts a workforce of above 111,000 employees. Renault, Alpine, Dacia, and Mobilize are its leading brands.

In 2021, the company manufactured 2,699 million vehicles, sold 2,696 vehicles, and recorded a net profit of EUR 967 million. Moreover, the company actively invests to boost the resiliency of its supply chains.

Citroën is one of the leading Europe electric micro vehicles market companies that is based in France. It offers diverse models ranging from SUVs, saloons, and commercial vehicles to Ami, its electric mobility vehicle. Most of its ranges are available in rechargeable hybrid or electric versions. It has a wide network 6,200 points of service as well as sale across 101 countries.

TAZZARI EV has been one of the pioneers in the EV market since 2006. The company’s technology develops innovative electric vehicles offering zero emissions and high-efficiency for various other brands. In 2023, 50 electric vehicles project were developed by the company. Moreover, its electric vehicle range offers a negligible cost per kilometres as compared to conventional 4-wheel vehicles.

Micro Mobility System AG aims to make urban mobility time saving and practical and is one of the pioneers in the Europe electric micro vehicles market. It develops products that are ideal for covering short distances. With penetration in over 80 countries, the company offers mobility devices for adolescents, children, and adults under the micro® brand name. Some of its best-selling products include Micro Kickback, Micro Flex, Micro Sprite, Micro Luggage, Mini Micro, Maxi Micro, and e-scooters, among others.

smart Europe GmbH is a subsidiary of smart Automobile Co., Ltd. and was established to sell, supply, and service smart vehicles in the European market. The design of the next-generation EVs is leveraged from the Mercedes-Benz design network while R&D activities are carried out in China. With headquarters in Hangzhou Bay, Ningbo, its operational sales functions are based in Europe and China.

Space Options Limited (Siticars.com) is a London-based start-up that manufactures me, a micro electric and zero emission vehicle. me, a two-seater, fully automatic vehicle offering a range of 150kms and a maximum speed of 78km/h on a single charge, is one of the most popular cars in the Europe electric micro vehicles market. With the flagship product, the company aims to boost the affordability and convenience of electric micro vehicles.

Key Highlights of the Report

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Europe Electric Micro Vehicles Market Report Snapshots

Europe Electric Micro Vehicles Market Size

Europe Electric Micro Vehicles Market Analysis

Europe Electric Micro Vehicles Market Growth

Europe Electric Micro Vehicles Companies