Micro Mobility Industry | Forecast 2030
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.
The global electric kick scooter, skateboards, and bike markets combine 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. The combination bundle is designed to provide a holistic view of these highly dynamic market spaces.
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Electric Kick Scooter Market Growth & Trends
The global electric kick scooter market size is expected to reach USD 12.26 billion and register a CAGR of 13.7% from 2023 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.
Order your copy of the Free Sample of “Micro Mobility Industry Data Book – Electric Kick Scooters, Electric Skateboards and Electric Bikes Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 – 2030, published by Grand View Research
E-bikes Market Growth & Trends
The global e-bikes market size is expected to reach USD 52.37 billion by 2030, expanding at a CAGR of 14.5% from 2023 to 2030, according to a new report 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.
Go through the table of content of Micro Mobility Industry Data Book to get a better understanding of the Coverage & Scope of the study
Market Share Insights
The key market players such as Yadea Technology Group Co., Ltd.; JIANGSU XINRI E-VEHICLE CO., LTD.; Xiaomi; SEGWAY INC.; SWAGTRON; Boosted USA; Air wheel Holding Limited; YAMAHA MOTOR CO., LTD.; Accell Group; and Derby Cycle are continuously pursuing various initiatives such as strategic partnerships, mergers and acquisitions, and new product launches. These vendors hold expertise in the micro-mobility industry and have strategic footprints spread across various parts of the world. Hence, these companies have been able to successfully defend their position in the market. At the same time, small and niche vendors are also introducing micro-mobility vehicles with an extended range. As a result, the competition is gradually intensifying and prompting market players to pursue various initiatives, including strategic partnerships, mergers and acquisitions, and new product launches, to cement their position in the market.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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