The global micro-mobility market is estimated to arrive at USD 69.32 billion by 2028. It is projected to develop by 13.7% CAGR from 2021 to 2028.
The rising carbon release, by means of established fossil fuel sourced vehicles, has been a main anxiety for the government establishments. The constant progress in the direction of smart cities is one of the input features, accountable for the acceptance of ecological, in addition to lucrative transport. There is no gaseous or carbon discharge from the vehicles like electric skateboards, scooters, and electric bicycles, because these vehicles operate on batteries.
The micro-mobility method of transport is increasing attractiveness between the environmentally alert commuters. Taking on of such ecological vehicles not only decrease the sulfur and carbon release in the environment but, furthermore, reduce the utilization of fossil fuel. Besides, micro-mobility vehicles especially make use of no noise chains, designed for working the electric motor, thus, it makes possible the noise free travel.
The enlargement of the micro-mobility market can be credited to the global expansion of the shared micro-mobility service business. This has stimulated the demand for electric skateboards, electric kick scooters and electric bicycles.
The infiltration of electric kick scooter sharing services is, moreover, observing a substantial acceptance speed, ever since 2016. Several companies are presenting electric bicycle-sharing services, through Europe.
The augmentation of the market for micro-mobility can be credited to the rising acceptance of bicycles and scooters, like the favored form of transport, particularly since the moment after electric bicycles, in addition to electric kick scooters, came in this market place.
By way of China as the main market for electric kick scooters, because of the existence of numerous electric kick scooter manufacturing companies, Asia Pacific is projected to appear like the important region. In 2020, the nation held major share of the market. In addition, the expansion of the local market can be credited to the rising necessity for dropping the carbon release plus building up technically sophisticated as well as quick charging stations.
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Further key findings from the report suggest:
• Asia Pacific is likely to hold the major share of the micro-mobility market. By 2028, it is projected to arrive at USD 32.01 billion
• In 2020, the sealed lead-acid battery section led the market. By 2028, it is expected to attain USD 36.68 billion
• The electric bicycle division led the market, in 2020. It is estimated to arrive at USD 62.52 billion, by 2028
Million Insights segmented the global micro-mobility market based on Voltage, Battery, Vehicle Type, and Region.
Micro-mobility Vehicle Type Outlook (Revenue, USD Million, 2018 - 2028)
• Electric Kick Scooters
• Electric Skateboards
• Electric Bicycles
Micro-mobility Battery Outlook (Revenue, USD Million, 2018 - 2028)
• Sealed Lead Acid
Micro-mobility Voltage Outlook (Revenue, USD Million, 2018 - 2028)
• Below 24V
• Greater than 48V
Micro-mobility Regional Outlook (Revenue, USD Million, 2018 - 2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Various companies for micro-mobility market are:
• Accell Group
• Air wheel Holding Limited
• Yadea Technology Group Co., Ltd.
• Derby Cycle
• YAMAHA MOTOR CO., LTD.
• Boosted USA
• SEGWAY INC.
• JIANGSU XINRI E-VEHICLE CO., LTD.