Micro-Mobility Market to Reach $166.8 Billion by 2029 | Key Drivers and Future Outlook
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#What Is the Growth Rate of the Micro-Mobility Market?#_x000D_
Recent years have seen a tremendous expansion in the micro-mobility market size. It is expected to escalate from $62.98 billion in 2024 to $75.85 billion in 2025, with a compound annual growth rate (CAGR) of 20.4%. Factors such as urbanization, changes in consumer behavior, economic components, the influence of COVID-19, and development of infrastructure contribute to the growth observed in the historic period._x000D_
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#What Growth Rate Is Forecasted for the Micro-Mobility Market by 2029?#_x000D_
In the forthcoming years, the micro-mobility market is anticipated to undergo considerable expansion. By 2029, it’s forecasted to reach a net worth of $166.8 billion, increasing at a compound annual growth rate (CAGR) of 21.8%. The expected growth during the forecast period can be linked to a range of factors including global incidents and pandemics, progress in health and wellness, shifts in consumer preferences, advancement in data and AI utilization, and integration with public transportation. During this forecast period, key trends that stand out include electrification, variety in vehicles, self-governing micro-mobility, emphasis on user-centric designs, and the initiative towards a circular economy._x000D_
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#Which Key Companies Are Shaping the Future of the Micro-Mobility Market?#_x000D_
Major companies operating in the micro-mobility market include Yadea Technology Group Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Xiaomi Corp., Segway Inc., Swagtron, Airwheel Holding Limited, Yamaha Motor Co. Ltd., Accell Group N.V., Derby Cycle AG, Neutron Holdings Inc., Bird Rides Inc., ElectricFeel AG, Beam Mobility Holdings Pte. Ltd., Dott B.V., Yulu Bikes Pvt. Ltd., Voi Technology AB, Tier Mobility GmbH, Dynamic, Helbiz Inc., Veo Technologies Inc., Razor USA LLC, Ninebot Inc., Gogoro Inc., Superpedestrian, VanMoof, Cowboy, Spin_x000D_
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#Which Factors Are Driving Demand in the Micro-Mobility Industry?#_x000D_
The growth of the micro-mobility market is projected to be accelerated by increasing needs for public transit. Public transportation, which includes buses, trains, and metros, serves as a local commuting option, facilitating communal travel on preset routes. Micro-mobility permits more efficient mobility within populated regions, improving individual motion and granting easy access to transport services. Additionally, the rise of urbanization has also bolstered the need for micro-mobility as it necessitates an increase in transport access. For example, in September 2022, a report by the US Bureau of Labor Statistics, a financial stability and economic growth institution from the US, indicated a 72% surge in total public and other transportation expenditure in the US in 2021. This includes an 87.4% rise in intercity bus ticket costs and a 40.7% jump in intercity train fares. As such, this growing need for public transit will act as a catalyst for the advancement of the micro-mobility market._x000D_
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#How Is the Micro-Mobility Market Segmented by Several Divisions?#_x000D_
The micro-mobility market covered in this report is segmented –_x000D_
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1) By Type: Bicycles, E-Bikes, E-Kick Scooters, Other Types_x000D_
2) By Speed: Up To 25 Kmph (Kilometers Per Hour), 25-45 Kmph (Kilometers Per Hour)_x000D_
3) By Propulsion: Human Powered, Electrically Powered_x000D_
4) By Sharing Type: Docked, Dock-Less_x000D_
5) By Ownership: Business To Business, Business To Consumers_x000D_
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Subsegments:_x000D_
1) By Bicycles: Traditional Bicycles, Folding Bicycles, Cargo Bicycles_x000D_
2) By E-Bikes: Pedal-Assist E-Bikes, Throttle-Controlled E-Bikes, E-Mountain Bikes_x000D_
3) By E-Kick Scooters: Standalone E-Scooters, E-Scooter Sharing Systems_x000D_
4) By Other Types: E-Mopeds, Segways, Electric Skateboards_x000D_
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#Which Industry Trends Are Shaping the Future of the Micro-Mobility Market?#_x000D_
In the micro-mobility market, one of the main trends gaining traction is the emergence of product innovations. Key players in this market are leveraging technology to create groundbreaking products which gives them an advantage over their rivals. For example, LIME, a shared micro-mobility enterprise from the US, released the Gen4 E-bike in January 2022. This electric bike, equipped with a replaceable, interchangeable battery, boasts exceptional features such as enhanced motor power, a holder for mobile phones, a display mirroring handlebar, automatic two-speed transmission, and a modular structure._x000D_
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#Which Regions Are Driving Growth in the Micro-Mobility Market?#_x000D_
Asia-Pacific was the largest region in the micro-mobility market in 2024. North America is expected to be the fastest-growing region in the micro-mobility market during the forecast period. The regions covered in the micro-mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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#This Report Delivers Insight On: #_x000D_
1. How big is the micro-mobility market, and how is it changing globally?_x000D_
2. Who are the major companies in the micro-mobility market, and how are they performing?_x000D_
3. What are the key opportunities and risks in the micro-mobility market right now?_x000D_
4. Which products or customer segments are growing the most in the micro-mobility market?_x000D_
5. What factors are helping or slowing down the growth of the micro-mobility market?_x000D_
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