Micro Mobility Industry: Transforming Cities, Changing Lives And Rethinking Urban Mobility

 

Micro mobility industry data book covers electric kick scooters, electric skateboards, and electric bikes markets. The global micro mobility market to account for USD 21.43 billion in revenue in 2021, which is expected to reach USD 60.71 billion by 2030, growing at a cumulative rate of 13.9% over the forecast period.

Access the Global Micro Mobility Industry Data Book from 2023 to 2030, compiled with details by Grand View Research

Electric Kick Scooters Market Growth & Trends

The global electric kick scooter market size is expected to reach USD 2.61 billion in 2021 and register a CAGR of 11.5% from 2022 to 2030, according to a study conducted by Grand View Research, Inc. The market growth is attributed to the increasing penetration of cost-effective electric scooter sharing services across the globe.

While the market is expected to witness promising growth opportunities in the long run, the COVID-19 pandemic is likely to negatively impact the market. Strict restrictions on transportation activities and lockdowns in the first half of 2020 paralyzed e-kick scooter retail business activities across the globe. While manufacturing and supply chain activities were severely disrupted, the situation was particularly challenging for manufacturers and dealers. Post pandemic, government initiatives to replace existing fleet with an electric vehicle, and more and more e-kick scooter manufacturers entering the ride sharing service market is propelling the market.

The need for product differentiation and the introduction of next-generation technology is anticipated to favor the e-kick scooter market growth. One of the key factors expected to boost the demand is shrinking parking spaces in metro cities. Moreover, scooters have gained prominence in countries such as the U.S., Germany, France, and Spain. The growing need to avoid traffic congestion and increased demand for micro-mobility options have encouraged vendors to manufacture folding electric kick scooters. These foldable electric kick scooters are portable, lightweight, and require low maintenance cost thus they are widely preferred by consumers end.

An increase in greenhouse gas emissions has resulted in initiatives to combat climate change with hopes pinned on e-mobility. Several countries globally have started enacting climate change action plans to reduce vehicular emissions by adopting sustainable and eco-friendly transportation options. Furthermore, investments in clean energy and initiatives taken by governments to curb CO2 emissions are expected to boost the demand for e-kick scooters over the coming years.

 

Electric Skateboards Market Growth & Trends

The global electric skateboards market size is expected to reach USD 980.3 million in 2021 and register a CAGR of 7.8% from 2022 to 2030, according to a study conducted by Grand View Research, Inc. Electric skateboards exhibited a low growth rate until 2018 owing to government regulations concerning the ban of e-skateboards in Germany, the U.K., and the Netherlands. Governments globally have categorized these micro-mobility vehicles under electric skateboards and have banned their use on roads to avoid traffic congestion and accidents. However, some countries allow the use of e-skateboards on footpaths and bicycle tracks and categorize them under Personal Light EV (PLEV). Hence, the increased government regulations and safety concerns have led e-skateboards to be regarded as a sports equipment rather than a transport medium.

The price of raw materials is directly proportional to the prices of electric skateboards, kick scooters, and bicycles. The major components for micro-mobility vehicles include batteries, vehicle frames, electric motors, controllers, tires, brakes, and other plastic components. Continuous fluctuations in the prices of raw materials, especially electric motors, and batteries, directly affect micro-mobility scooter manufacturers’ revenue. However, prices of electric motors and batteries are, in turn, affected by fluctuations in the prices of commodities such as steel, copper, iron, and lead. Over the past five years, excessive demand for batteries and electric motors has contributed to the continuous decline in their prices.

 

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Electric Bicycles Market Growth & Trends

The global e-bikes market size is anticipated to reach USD 17.83 billion in 2021, growing at a CAGR of 14.5% over the forecast period, according to a new report published by Grand View Research, Inc. Electric bikes are considered an eco-friendly and flexible mode of transportation. They are an ideal substitute for public transport, scooters, and smart cars as they help avoid traffic jams and achieve high speed with minimal effort. Moreover, they enable riders to maintain a healthy lifestyle through increased physical activity. These factors are contributing to the growth of the global market.
The declining consumer inclination toward cars owing to increased traffic on streets and growing urbanization is expected to offer lucrative growth opportunities for the market across the globe. Additionally, governments of several countries, including India, U.K., and Canada, are focused on developing infrastructures for bicycles owing to the growing consumer preferences for electric bikee-bikes. For instance, in 2017, Bikeep, a commercial bike parking systems and bike racks manufacturer, introduced a smart bicycle rack solution that offers electric bicycle charging. The solution is designed to cater to various popular electric bicycles.

Key players in the market are focused on strategies such as new product launch and geographic expansion to enhance their business operations and product offerings. For instance, in October 2020, Giant Manufacturing Co. Ltd. announced the launch of a full-composite trail bike, Trance X Advanced Pro 29. The bike is equipped with an updated Maestro rear suspension and flip-chip feature that permits riders to modify the frame geometry. Similarly, in October 2020, Pedego Electric Bikes opened a new store in Boca Raton, Florida. The store offers a full range of electric bikes for rental and sale, along with related accessories and services.

 

Key players operating in the Micro Mobility Industry are –

• 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.
• Lime (Neutron Holdings, Inc.,)
• Boosted USA
• GOTRAX
• Bird Rides, Inc.
• Mellow Boards GmBH
• GOVECS AG

 

Go through the table of content of Micro Mobility Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Grand View Research’s micro mobility industry data book is a collection of market sizing & forecast insights, regulatory & technology framework, pricing intelligence, volumetric analyses, competitive benchmarking analyses, and macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research. The following data points will be included in the final product offering in four reports and one sector report overview.