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Increasing public transport demand is likely to promote innovation in micro mobility production, propelling the market during the forecast period.

The global micro mobility market is expected to grow from $43.85 billion in 2022 to $52.31 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. The global micro-mobility market size is expected to grow to $102.14 billion in 2027 at a CAGR of 18.2%.

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Global Micro Mobility Market Segments Include:

• By Type: Bicycles, E-Bikes, E-Kick Scooters, Other Types
• By Speed: Up To 25 Kmph (kilometres per hour), 25-45 Kmph (kilometres per hour)
• By Propulsion: Human Powered, Electrically Powered
• By Sharing Type: Docked, Dock-Less
• By Ownership: Business To Business, Business To Consumers
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global micro mobility market in 2021.

Major Market Players in the micro mobility market include Yadea Technology Group Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Xiaomi Corp., Segway Inc., Swagtron, Boosted USA, Airwheel Holding Limited, Yamaha Motor Co. Ltd., Accell Group N.V., Derby Cycle AG.

Product innovations have emerged as important themes gaining traction in the micromobility sector. To achieve a competitive advantage in the micromobility sector, major firms developing novel products with technologies. For example, LIME, a US-based shared micro-mobility startup, unveiled the Gen4 E-bike in January 2022, which is an electric bike with a swappable, replaceable battery. Increased motor power, a phone holder, a handlebar with display mirroring, an automatic two-speed gearbox, and a modular design are among its distinguishing characteristics.

The Micro Mobility Global Market Report 2023 provides a micro mobility market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The micro mobility market forecast analyzes micro mobility market size, micro mobility market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The use of bicycles, electric scooters, and e-bikes to commute short distances around cities is known as micro-mobility. Users often use a mobile application to rent such a scooter or bike for a limited time.

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