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DUBLIN--(BUSINESS WIRE)--Nov 23, 2022--
The "Global Micro-Mobility Market by Type (Bicycle, E-bike, E-kick Scooter), Propulsion (Pedal Assist & Electric), Ownership (B2B, B2C), Sharing (Docked, Dock-less), Data (Navigation, Payment), Travel Range, Speed and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The micro-mobility market is estimated to grow from USD 3.4 billion in 2022 to USD 6.1 billion by 2027 at a CAGR of 12.5% over the forecast period. The most vital driver for the development of micro-mobility is the rapid urbanization around the world. According to the World Health Organization (WHO), approximately 50% of the world's population lives in urban areas, a proportion that is likely to increase to around 60% by 2025. The increasing number of cars used by a large section of this population has added to road traffic congestion and parking problems in urban areas. This has led to the rapid development of regularized public transport systems. However, with public transportation comes a challenge - last-mile mobility - which would primarily drive the demand for micro-mobility.
The e-bike is expected to register highest growth in micro-mobility market. E-Bikes provide an edge over the traditional bicycles with less effort to be put during the riding and give an easy and smooth riding experience. The e-bike also offers speed up to 35 kmph which helps to commute the long distances for the user and go to high terrain. However, currently e-bike sharing has various challenges about charging and theft of battery and motor.
The business-to-consumer ownership model is expected to dominate the market during the forecast period due to increase in deployment of number of vehicles and growing trend of short commute distance within cities by using metropolitan transport organizations. The rising urban population and increase in development of smart cities further increase the demand for on-demand public transport. Micro-mobility implementation is further driven by regulations and an emerging focus on smart city initiatives.
The smart cities include pop-up bike lanes, creating more open space, streets with only electric or low speed vehicles, dedicated lanes for micro-mobility devices are contributing towards the growth of micro-mobility market during the forecast period. As compared to other public transportation solutions, a micro-mobility services network is highly efficient. Once a network being implemented, a city can reduce the burden on other types of public transportation systems.
For instance, in October 2022, Glasgow city installs solar powered warning signs which illuminate a cycle symbol to alert drivers to the presence of cyclists. Furthermore, in Paris, Action an electric vehicle charging system manufacturers offers docked stations charging system for e-bikes and e-scooters to park and charge in designated areas. In September 2022, emirate's transport authority signed partnership agreement with Tier to deploy the e-kick scooters and e-bikes to build a safe and sustainable smart city.
Increase in the sale of personal vehicles in the last 10 years has given rise to more traffic congestion and more pollution. The micro-mobility concept supposes that people use the e-kick scooters, e-bike, bicycles, and e-mopeds for the short-term distance for the daily commute as and when required, thus leaving the currently predominant ownership model of vehicles. Car and bike dedicated infrastructure in urban areas such as roads and parking spaces can be reduced, and more infrastructure can be dedicated to sustainable transport and leisure space for inhabitants.
For instance, London Transport Authority has been creating a temporary cycle lanes and other measures which improves the cycling by more than 25% without negatively impacting traffic. Furthermore, City of Minneapolis launched a mobility hub pilot program, where people can conveniently access low or no carbon transportation options including transit, bicycles, shared scooters and electric car-sharing.
However, various countries have speed and infrastructure regulations which impacts the growth of micro-mobility market. Micro-mobility operators use public space to supply their mobility services. Some cities use a commercial model for the use of this space by charging a license fee for usage of the right-of-way and public infrastructure, similar to rent.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Micro-Mobility Market, by Type
7 Micro-Mobility Market, by Propulsion
8 Micro-Mobility Market, by Speed
9 Micro-Mobility Market, by Sharing Type
10 Micro-Mobility Market, by Ownership
11 Micro-Mobility Market, by Data Service
12 Micro-Mobility Market, by Travel Range
13 Micro-Mobility Market, by Battery Type
14 Micro-Mobility Market, by Voltage
15 Micro-Mobility Market, by Region
16 Competitive Landscape
17 Company Profiles (Service Providers)
18 Other Company Profiles
19 Analyst's Recommendations
20 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/uqqzsk
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/23/2022 06:58 AM/DISC: 11/23/2022 06:58 AM
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