Micro Mobility Industry Archives

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.

Access the Global Micro Mobility Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligen/p>

ce, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies<

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.

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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.

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.

Micro Mobility Industry | Forecast 2030

Micro Mobility Industry Data Book – Electric Kick Scooters, Electric Skateboards and Electric Bikes Market

Access the Global Micro Mobility Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Electric Kick Scooter Market Insights

The global electric kick scooter market size was valued at USD 4.3 billion in 2022 and is projected to register a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030. Globally, the e-kick scooter is also termed as the electric motorized scooter or standing scooter or electric scooter. These have emerged as a cost-effective urban commute option in recent times, this is attributed to the sleek design and the ease of use. Besides, increasing investment in developing bike lanes in the emerging economies of the world is driving market growth.

Rising awareness about environmentally friendly transportation, fluctuating fuel prices, and the increasing demand for easy short distance commuting is fueling the growth of the market. The COVID-19 pandemic has negatively impacted the overall automobile industry in 2019 and 2022. Global supply chain disruption and loss due to the shutting down of the production and assembly plants have severe impacts on the growth of the market. Post-pandemic the market is expected to benefit from the rising demand for more environment-friendly and hassle-free transportation options, due to an uptick in demand post-COVID-19, and favorable government policies.

Electric Bikes Market Insights

The electric bikes/bicycles segment is anticipated to witness significant growth over the forecast period. The favourable government initiatives, advances in technology, growing awareness about performance-based adventure, and rising preference for leisure activities are some of the factors that are expected to drive the growth of the segment. For instance, connected e-bikes feature a Subscriber Identity Module (SIM) that allows riders to exchange data over the cloud without a smartphone connection.

These bikes also offer features, such as integrated navigation, remote diagnostics, social-media connectivity, ant-theft systems, and automatic emergency calls. However, the outbreak of the COVID-19 pandemic took a severe toll on the production of electric bikes/bicycles as the lockdowns imposed in various parts of the world forced the manufacturing units to suspend their operations temporarily. Nevertheless, the demand started picking up gradually after the lockdowns were lifted as individuals opted for e-bikes or bicycles to avoid the use of public transport in the wake of the outbreak of the pandemic.

Electric Skateboards Market Insights

Electric skateboards exhibited a low growth rate until 2018 owing to government regulations concerning the ban of e-skateboards in Germany, the U.K., and the Netherlands. Governments globally have categorized these micro-mobility vehicles under electric skateboards and have banned their use on roads to avoid traffic congestion and accidents. However, some countries allow the use of e-skateboards on footpaths and bicycle tracks and categorize them under Personal Light EV (PLEV). Hence, the increased government regulations and safety concerns have led e-skateboards to be regarded as a sports equipment rather than a transport medium.

The price of raw materials is directly proportional to the prices of electric skateboards, kick scooters, and bicycles. The major components for micro-mobility vehicles include batteries, vehicle frames, electric motors, controllers, tires, brakes, and other plastic components. Continuous fluctuations in the prices of raw materials, especially electric motors, and batteries, directly affect micro-mobility scooter manufacturers’ revenue. However, prices of electric motors and batteries are, in turn, affected by fluctuations in the prices of commodities such as steel, copper, iron, and lead. Over the past five years, excessive demand for batteries and electric motors has contributed to the continuous decline in their prices.

Micro Mobility Industry Segmentation

E-Vehicle Type Outlook (Revenue, USD Million, Volume Units; 2018 – 2030)

Kick Scooters
Bikes
Skateboards

Battery Type Outlook (Revenue, USD Million; Volume Units; 2018 – 2030)

Sealed Lead Acid
NiMh
Lithium Ion

Voltage Type Outlook (Revenue, USD Million; Volume Units; 2018 – 2030)

Below 24V
36V
48V
Greater than 48V

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope

1.2. Research Methodology

1.3. Information Procurement

1.3.1. Purchased Database

1.3.2. GVR’s Internal Database

1.3.3. List of Primary Sources

1.3.4. List of Secondary Sources

1.4. Information Analysis

1.4.1. Data Analysis Model

1.5. Market Formulation & Data Visualization

1.6. Data Validation & Publishing