Micromobility Market Predicted to Generate $9.8 Billion in 2025
Micromobility is rapidly becoming one of the most viable options for people who need to cover short distances, five miles or less, quickly. The utilization of light duty vehicles, such as kick scooters, scooters (electric and conventional scooters), and bikes (electric and pedal bikes), come under this mode of transportation. The rapidly surging road congestion is one of the prime factors which are resulting in the growing demand for micromobility across the world. Urbanization, rising middle-class population, and growing affordability have led to an increased number of vehicles on the road. It is in order to take care of these problems that several countries are looking for alternative ways of traveling.
Attributed to all these factors, the global micromobility market is expected to reach $9.8 billion in 2025, from $3.0 billion in 2018, advancing at a 19.9% CAGR during the forecast period (2019–2025), as per a research conducted by P&S Intelligence. Kick scooter sharing, bike sharing, and scooter sharing are the three service types provided by micromobility. Out of these, the largest demand is projected to be created for bike sharing during the forecast period because of the extensive usage of these services in the Asia-Pacific (APAC) region, particularly in China. The fastest growth in demand is predicted to be registered by kick scooter sharing in the coming years.
Key Questions Addressed/Answered in the Report
- What will be the global micromobility market size, including for bike sharing, kick scooter sharing, and scooter sharing, in terms of revenue and rides taken, from 2018 to 2025?
- What is the market potential and forecast in various countries and region?
- How much funding has been raised by micromobility start-ups in various stages?
- What are the key legislations detailing the cap on maximum fleet sizes in various in cities?
- What will be the impact of investments by tech giants in the micromobility market?
- What are the drivers, restraints, and opportunities for the market for the period 2019–2025?
- What are the key developments and strategies of the companies in the market?
- What is the market share of regional companies?
- What will be the impact of micromobility on the electric two-wheeler manufacturing industry?
You may also read about Shared Mobility Market Research Report
