Increasing traffic congestion, rising air pollution levels, and longer urban commutes are some key factors driving growth of the global micro mobility market.
— Emergen Research
VANCOUVER, BC, CANADA, June 9, 2022 /EINPresswire.com/ — The global micro mobility market is expected to reach a market size of USD 290.39 Billion in 2028 and register a double-digit CAGR over the forecast period, according to latest analysis by Emergen Research.
Robust revenue growth of the market can be attributed to rapidly increasing range of transportation services and vehicles, including e-bikes, dockless and docked shared bicycles, electric scooters, and electric skateboards. Rising need to reduce traffic congestion in urban areas and reduce reliance on private vehicles and encourage use of public transport is also driving a shift towards micro mobility solutions.
Urban consumers are increasingly adopting micro mobility solutions due to enhancement in connectivity, mobile payments, quick battery charging, convenience of these solutions, and growing smartphone penetration in urban and rural areas. Rising investments by companies offering micro mobility solutions is also resulting in development of more cost-effective and advanced vehicles in the micro mobility solutions market.
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The Micro Mobility research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans.
The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key players involved in the market such as Bird Rides, Inc., Lime Scooter, Micro Mobility Systems Ltd.s, Ofo Inc., Mobike, Motivate International Inc. (Lyft), Pride Mobility Products® Corporation, Golden Technologies, Uber, and Invacare Corporation.
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Emergen Research has segmented the global micro mobility market on the basis of application, type, travel range, weight capacity, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
Type Outlook (Revenue, USD Billion; 2021–2028)
Travel Range Outlook (Revenue, USD Billion; 2021–2028)
Up To 20 Km
More than 40 Km
Weight Capacity Outlook (Revenue, USD Billion; 2021–2028)
Up to 100 Kg
More than 250 Kg
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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
Key Highlights of Report
In June 2019, Bird Rides announced the launch of a new electric micro mobility offering named Bird Cruiser, which is a new seated electric vehicle. The new electric micro mobility offering increases access for a greater number of individuals who want to adopt eco-friendly transportation in place of car trips.
The residential segment accounted for largest market share of 59.4% in 2019. Rapid urbanization and population increase are factors causing an exponential increase in congestion, which is driving demand for micro mobility solutions for use in residential areas.
3-wheeler segment revenue is expected to expand at a rapid CAGR of 19.3% during the forecast period. Better balance offered by 3-wheelers as compared to two-wheeler makes them a more convenient and safer option for covering a longer distance.
The report addresses the following key points:
The report estimates the expected market size from 2021-2028
The report provides a forecast of market drivers, restraints, and future opportunities for the Micro Mobility market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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