Micro-mobility Market Size, Share & Trends Analysis Report By Vehicle Type (Electric Kick Scooters, Electric Skateboards, Electric Bicycles), By Battery, By Voltage,- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Micro-mobility market gathered revenue around USD 25.49 Billion in 2020 and market is set to grow USD 70.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 14.7% during the prediction period 2021 to 2027.

Growth Factors:

The growing carbon emission by traditional fuel-based vehicles has been a key concern for government authorities. The sustainability move toward smart cities is one of the key factors responsible for the adoption of eco-friendly and cost-effective transportation. Since the electric kick scooters, electric bicycles, and electric skateboards run on batteries, there are no carbon or gaseous emissions from these vehicles. This mode of transportation is gaining popularity amongst environmentally conscious commuters. Adopting such eco-friendly vehicles not only reduces the carbon and sulfur emissions in the atmosphere but also decreases fuel consumption. Furthermore, these vehicles use ultra-quiet chains for operating the electric motor, thereby facilitating noise-free rides.

The market growth can be attributed to the growth of the shared micro-mobility service industry across the world, which has spurred the demand for electric kick scooters, electric bicycles, and electric skateboards. Companies such as Bird Rides, Inc.; Lime; Spin; and Uber Technologies Inc. offering electric scooter-sharing services, are procuring electric kick scooters mainly from manufacturers such as Ninebot-Segway, Yadea Technology Group Co., Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., and Xiaomi.

Furthermore, the penetration of electric kick scooter-sharing services is witnessing an exponential adoption rate since 2016.Companies such as YoBike and Pony Bikes; Urbo Solutions and Bleeper Bikes; and Bykeare offering electric bicycle-sharing services across Europe. The growth of the market can be attributed to the increasing adoption of scooters and bicycles as the preferred mode of transportation, especially from the time when electric kick scooters and electric bicycles entered this market space.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Micro-mobility market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Micro-mobility market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 70.2 Billion by 2027
Growth Rate CAGR of 14.7% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Vehicle type, battery, voltage and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Yadea Technology Group Co., Ltd.; JIANGSU XINRI E-VEHICLE CO., LTD.; Xiaomi; SEGWAY INC.; SWAGTRON; Boosted USA; Airwheel Holding Limited; YAMAHA MOTOR CO., LTD.; Accell Group; Derby Cycle

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Micro-mobility market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Segments covered analysis

By Vehicle Type analysis:

Based on vehicle type, the micro-mobility market is segmented into electric kick scooters, electric skateboards, and electric bicycles. The electric bicycles segment dominated the market in 2020 and accounted for more than 85.2% of the global revenue. The segment is projected to register a CAGR of over 14.3% over the forecast period as they are the most affordable and convenient alternatives to public transportation. Several countries are working toward boosting the use of electric bicycles using both regulatory and subsidies changes to decrease the stress on public transportation systems. Furthermore, compared to other transportation systems such as buses and cabs, electric bicycles are easy to charge, inexpensive, and do not require large investments in supportive infrastructure. Hence, an increase in the demand for electric bicycles across the world is being observed.

By Battery analysis:

Based on battery, the market is segmented into sealed lead acid battery, Nickel-Metal Hydride (NiMH) battery, and Lithium-ion (Li-ion) battery. The sealed lead-acid battery segment dominated the market in 2020 and accounted for more than 55.2% of the global revenue. The segment is projected to register a CAGR of over 12.5% over the forecast period. These batteries are the preferred alternatives for manufacturers due to their cost-effectiveness. Additionally, their low self-discharging capability and ease of manufacturing are fueling their adoption of electric vehicles. However, the raw materials used for manufacturing these batteries include high toxic substances that release millions of tons of lead into the environment. This negative impact on the environment has led manufacturers to adopt alternative options for batteries, thereby leading to a comparatively slow segment growth over the forecast period.

By Voltage analysis:

Based on voltage, the market is segmented into below 24V, 36V, 48V, and greater than 48V. The below 24V segment dominated the market in 2020 and accounted for more than 75.0% of the global revenue. It is anticipated to continue to dominate the market over the forecast period. Micro-mobility vehicles such as skateboards, scooters, and bicycles usually use less than 24V batteries, such as 12V or 18V rechargeable batteries, which provide enough power required for their motors and low range of electric vehicles compared to other vehicle types. Electric vehicle manufacturers use sets of 12V or 18V lithium-ion batteries instead of sealed lead-acid batteries to reduce the weight of the vehicle and improve its overall efficiency.The 36V segment is anticipated to register the highest CAGR of 14.1% over the forecast period. The integration of 36V systems in electric vehicles not only increases the distance range but also improves the performance of the vehicle. The use of 36 V batteries is mainly catered through NiMH and Li-ion batteries as they are compact, offer better charging time, and do not release harmful chemicals compared to sealed lead-acid batteries.

Regional analysis:

The Asia Pacific region dominated the market in 2020 and accounted for over 45.0% share of the global revenue. Most players manufacturing micro-mobility vehicles operate in Asia Pacific, Europe, and North America regions. These players generate revenue by selling their products internationally, either through their distribution channels or through the OEM channel. The governments of economies such as India, China, and Japan are setting up standards and regulations for vehicle charging infrastructure and this is expected to have a positive impact on the regional market growth. Additionally, Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period.

Consumer demographic features vary among different regions. Electric kick scooter drivers from North America and Europe tend to perceive electric kick scooters more as a lifestyle while those from Latin America, Middle East and Africa, and Asia Pacific use electric kick scooters more as practical transportation means. Consumer satisfaction, which can be measured with various parameters such as performance, maintenance expense, and durability, is an essential factor for the vendors trying to retain existing customers or to attract new customers. However, vendors trying to attract consumers during the launch of any vehicle focus on two main factors, namely design/style and specifications.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Micro-mobility Market include:  Yadea Technology Group Co., Ltd.; JIANGSU XINRI E-VEHICLE CO., LTD.; Xiaomi; SEGWAY INC.; SWAGTRON; Boosted USA; Airwheel Holding Limited; YAMAHA MOTOR CO., LTD.; Accell Group; Derby Cycle

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • By Vehicle Type
    • Electric Kick Scooters
    • Electric Skateboards
    • Electric Bicycles
  • By Battery
    • Sealed Lead Acid
    • NiMH
    • Li-ion
  • By Voltage
    • Below 24V
    • 36V
    • 48V
    • Greater than 48V

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Micro-mobility market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Micro-mobility market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Micro-mobility markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Micro-mobility Market Study:

  • Growth of Micro-mobility in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Micro-mobility and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Micro-mobility Consumption Analysis
  •  Micro-mobility Production Analysis
  •  Micro-mobility and Management