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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Micro-Mobility Market Size
The global micro-mobility market reached approximately USD 51.07 billion in 2023. The market is projected to grow at a CAGR of 16.50% between 2024 and 2032, reaching a value of around USD 202.39 billion by 2032.
Key Trends in the Market
Micro-mobility is a term used for small and lightweight vehicles that typically run on electricity. The speed of the vehicles is usually under 25kmh (15 mph). These vehicles are designed to be used for personal transportation and cover shorter distances as compared to traditional vehicles such as cars and buses.
- The global micro-mobility market growth can be attributed to rising concerns regarding greenhouse gas emissions and rapid climate change. One significant approach involves promoting the adoption of electric vehicles to curb emissions in the transportation sector.
- One of the primary drivers behind the increase in the micro-mobility market demand is the rapid urbanisation around the world. Metropolitan areas are becoming more densely populated, leading to a significant increase in traffic congestion and longer commute times. In response to this issue, consumers are actively seeking micro-mobility solutions as they provide flexibility, efficiency, and ease of accessibility.
- A major micro-mobility market trend includes the rising price of gas and oil owing to factors such as depleting reserves and geopolitical concerns. This is boosting the adoption of low-cost and clean substitutes for traditional fuels in the transportation sector. The demand for micro-mobility options is likely to further expand due to their associated advantages of reduced cost and time-effectiveness.
Micro-Mobility Market Report Snapshots
Micro-Mobility Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 51.07 billion.
The market is projected to grow at a CAGR of 16.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 202.39 billion by 2032.
The market is being driven by increasing environmental concerns and the surging adoption of efficient transport in urban and smart cities.
The growth of the market is guided by the depleting reserves for traditional fuels and the rising adoption of electric vehicles as a cost-effective alternative to traditional vehicles.
The major regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Lithium-ion, lead acid, and lithium-ion polymer, among others, are the major battery types considered in the market report.
The key players in the market include Beam Mobility Holdings Pte. Ltd., Xiaomi Group, Okai GmbH, Helbiz Italia S.R.L., Yulu Bikes Pvt Ltd, Segway Discovery, Inc, Bolt Technology OÜ, CaliRides LLC, Bird Rides, Inc, Dott (emTransit B.V.), and Lime Norway AS, among others.
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