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Micromobility Market
By sharing type, docked segment is projected to lead the global market in terms of market share by the end of the forecast period.
The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenario, and competitive landscape.” - Allied Market ResearchWILMINGTON, NEW CASTLE, DE, UNITED STATES, October 30, 2024 /EINPresswire / -- The global Micromobility Market was valued at $44.12 billion in 2020, and is projected to reach $214.57 billion by 2030, registering a CAGR of 17.4% from 2021 to 2030. Rise in trend of on-demand transportation services, favorable government initiatives for smart cities, rapid urbanization and local commute requirements, increase in venture capital and strategic investments drive the growth of the global micromobility market . However, increase in bike vandalism & theft and low rate of internet penetration in developing regions hamper the market growth. On the contrary, smart transportation systems and rise in government initiatives for the development of bike-sharing infrastructureare expected to open new opportunities for the market players in the future.
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The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenario, and competitive landscape. However, increase in bike vandalism & theft and low rate of internet penetration in developing regions hamper the market growth. On the contrary, smart transportation systems and rise in government initiatives for the development of bike-sharing infrastructureare expected to open new opportunities for the market players in the future.
The key players profiled in this report include
Beam Mobility Holdings PTE. Ltd
Bird Rides
DOTT
Electricfeel
Floatility GmbH
Lime
Neuron
VOI
Yulu Bikes Pvt. Ltd
Zagster
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Micromobility refers to a range of small, lightweight vehicles operating at a speed of not more than ~15 miles per hour (25 kmph) and considered ideal for commuting within ~10 km range. This actively includes the usage of different types of vehicles such as bicycles, e-bikes, electric scooters, electric skateboards, shared bicycles, and electric pedal assisted bicycles and others. Continuous developments carried out across the globe toward developing smart cities & vehicle infrastructure have created numerous opportunities for the growth of the global micromobility market. Moreover, the presence of different service provider companies followed by their investments & developmental strategies has attracted numerous small vehicles fleet owners to collaborate toward supporting the concept of micromobility.
The report offers an analysis of the global micromobility market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion's share in 2020, accounting for more than half of the market. However, the market across LAMEA is anticipated to showcase the highest CAGR of 25.8% during the forecast period.
Based on vehicle type, the bicycles segment held the largest share in 2020, accounting for more than two-thirds of the market, and is anticipated to led the market by 2030. However, the hoverboard segment is projected to manifest the highest CAGR of 19.0% during the forecast period.
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Factors, such as rise in trend of on-demand transportation services, rapid urbanization and local commute requirements, government initiatives for smart cities, increasing government initiatives for the development of bike-sharing infrastructure and rise in venture capital and strategic investments, supplement the growth of the micromobility market.
On the basis of propulsion type, the electrically powered segment held the lion's share in 2020, contributing to around three-fourths of the market, and is expected to continue its dominant share in terms of revenue by 2030. Moreover, this segment is estimated to portray the highest CAGR of 17.9% from 2021 to 2030.
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Presently, the global micromobility industry is dominated by Asia-Pacific followed by Europe, North America, and LAMEA. Asia-Pacific is expected to maintain its dominance in the global market particularly by China, South Korea, and Japan owing to rapid urbanization and growing demand for on-demand transportation services.
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