Press release
Micromobility Market: Key Growth Potential and Forecast Analysis (2024-2030) by Network Type, Hardware, Communication Type, End User, Services, and Region.
Micromobility Market
Micromobility is a growing transportation sector that includes commuting using a variety of lightweight vehicles such as electric scooters, electric skateboards, and electric bicycles. Factors such as increasing traffic congestion, rising oil and gas prices, ease of parking and saturation in the auto sector are expected to drive the market growth during the forecast period. In addition, factors such as the growth of e-bikes and e-scooter rental and sharing services around the world are expected to create new opportunities for micro-mobility in the coming years. Micromobility market is expected to register CAGR of 17.5% during the forecast period.
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Micromobility Market Scope and Methodology:
Significant increase in carpooling preference among car-poolers is a key factor contributing to the growth of carpooling and carpooling. In addition, the proliferation of services offered by major players in the micromobility market, including Uber and Ola, and the ability to choose convenient pick-up and drop-off locations are encouraging consumers to choose services. Carpooling and carpooling. In addition, the significant increase in the number of carpooling services and many carpooling services such as bike sharing and car sharing even for short distances are driving the growth of micro mobile market. In addition, carpooling service providers offer benefits such as affordable door-to-door pickup and drop-off, passenger travel information, and greater convenience than service providers. Traditional carpooling. This will boost demand for carpooling services. In addition, several service providers offer various facilities, offers, and discounts, such as monthly pass on shared ride, to reduce the expenses of daily commuters.
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Micromobility Market Regional Insights
In 2023, the Asia Pacific region dominated the micromobility market, accounting for more than 45% of worldwide revenue. The majority of micromobility car manufacturers are based in Asia Pacific, Europe, and North America. These companies make money by selling their products around the world, either through their own distribution channels or through OEMs. Governments in countries like India, China, and Japan are establishing standards and rules for vehicle charging infrastructure, which is likely to boost regional market growth. Furthermore, over the projection period, Asia Pacific is expected to be the fastest-growing regional market.
Micromobility Market Segmentation
Based on the type of vehicle, the micromobility market is divided into electric kick scooters, electric skateboards and electric bicycles. The electric bicycle segment dominated the market in 2023, accounting for more than 85% of global sales. The segment is expected to register over 14.3% CAGR over the forecast period as it is the cheapest and most convenient alternative to public transport. Some countries are working to encourage the use of electric bicycles, using both regulatory and subsidy changes to reduce the burden on public transport. In addition, compared to other transportation systems such as buses and taxis, electric bicycles are easier to charge, cheaper and do not require a large investment to support the infrastructure. Hence, an increase in the demand for electric bicycles across the world is being observed.
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Micromobility Market Key Players
Yadea Technology Group Co., Ltd. (China)
JIANGSU XINRI E-VEHICLE CO., LTD. (China)
Xiaomi (China)
SEGWAY INC. (USA)
SWAGTRON (USA)
Boosted USA (USA)
Airwheel Holding Limited (USA)
YAMAHA MOTOR CO., LTD. (Japan)
Key questions answered in the Micromobility Market are:
What is Micromobility?
What was the Micromobility market size in 2023?
What is the growth rate of the Micromobility Market?
Which are the factors expected to drive the Micromobility market growth?
What are the different segments of the Micromobility Market?
What growth strategies are the players considering to increase their presence in Micromobility?
What are the upcoming industry applications and trends for the Micromobility Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Micromobility Market?
Who are the leading companies and what are their portfolios in Micromobility Market?
What segments are covered in the Micromobility Market?
Who are the key players in the Micromobility market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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