Micro Mobility Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The micromobility market is growing very rapidly and is expected to reach $314 billion by 2032. This is a CAGR of 13.0 per cent from 2024 to 2032, which shows a strong demand for alternative mobility solutions. This is due to the trend towards urbanization and the rising demand for sustainable and eco-friendly mobility solutions. Technological progress, such as the development of electric scooters, e-bikes and other small vehicles, is also boosting the popularity of micromobility and making it more attractive and convenient for urban commuters. Lime, Bird and Spin are investing in new, innovative technology and developing new services. Strategic initiatives, such as cooperation with local governments to develop the necessary charging stations and battery technology, are also contributing to the growth of the micromobility market. Moreover, the growth of shared mobility services and the development of smart cities are creating new opportunities and making the micromobility market an important part of the future urban mobility system.

Regional Market Size

Regional Deep Dive

The micromobility market is experiencing significant growth in many regions, primarily driven by urbanization, the growing need for a clean and efficient means of transport, and the ensuing need for greater mobility. North America is characterized by the strong presence of e-scooters and bike-sharing services, which are supported by a rapidly developing micromobility network. Europe is characterized by a strong regulatory framework that encourages sustainable mobility. Asia-Pacific is characterized by the rapid uptake of micromobility solutions in densely populated cities. The Middle East and Africa are just beginning to explore micromobility as a solution to their traffic congestion issues, while Latin America is deploying local innovations to improve urban mobility.

Europe

• The European Union has introduced the 'Green Deal', which aims to promote sustainable transport solutions, including micro-mobility, leading to increased funding and support for local initiatives.
• Cities like Paris and Amsterdam are investing heavily in cycling infrastructure, which not only supports bike-sharing programs but also encourages the use of e-scooters, creating a more integrated micro-mobility ecosystem.

Asia Pacific

• Countries like China and India are witnessing a surge in micro-mobility startups, with companies like Ofo and Yulu leading the charge in bike-sharing and e-scooter services, driven by the need for affordable urban transport.
• Government initiatives in cities such as Singapore are promoting electric vehicle adoption, including e-scooters, through subsidies and infrastructure development, which is expected to enhance market penetration.

Latin America

• Cities like Bogotá and Mexico City are implementing pilot programs for e-scooter and bike-sharing services, supported by local governments aiming to reduce pollution and improve urban mobility.
• Innovative local companies are developing solutions tailored to the unique challenges of Latin American cities, such as rugged terrain and high traffic, which is fostering a distinct micro-mobility landscape.

North America

• Cities like San Francisco and New York have implemented regulations to manage e-scooter operations, ensuring safety and accessibility, which is shaping the operational landscape for micro-mobility providers.
• Companies such as Lime and Bird are expanding their fleets and services, while partnerships with local governments are fostering the development of dedicated lanes and parking areas for micro-mobility vehicles.

Middle East And Africa

• Dubai has launched the 'Dubai Mobility Strategy 2030', which includes plans for integrating micro-mobility solutions into the public transport system, aiming to reduce traffic congestion and promote sustainable transport.
• In South Africa, local startups are emerging to provide e-scooter services, addressing urban mobility challenges while also creating job opportunities in the region.

Did You Know?

“In 2022, it was estimated that micro-mobility options could reduce urban traffic congestion by up to 30%, significantly improving city livability.” — International Transport Forum

Segmental Market Size

The electric scooter is a leading player in the micro-mobility sector. Its growth is currently being driven by the increasing demand for mobility in cities, as well as by a desire to find more sustainable means of transport. The electric scooter is also benefitting from supportive legislation that promotes the use of electric vehicles. San Francisco and Paris are setting the example by adopting regulations that make it easier for electric scooters to operate, thereby increasing their availability and attractiveness. At present, the deployment of electric scooters is at the stage of large-scale rollout. Bird and Lime are increasing their fleets in major cities. The main applications are for last-mile connections between the public transport system and the final destination. In this respect, the trend towards a more sustainable lifestyle, combined with government-mandated reductions in CO2 emissions, is accelerating the growth of the sector. Further developments in battery technology and the integration of electric scooters into mobile applications are improving their performance and enhancing their usability.

Future Outlook

During the period 2024–2032 the micromobility market is expected to grow at a CAGR of 13%, from $114.15 billion to $303.47 billion. The growth will be driven by an increase in urban population, the rising awareness of the environment, and the move towards sustainable transport solutions. By 2032, it is expected that micromobility solutions, such as e-scooters, e-bikes, and shared mobility services, will account for about 20% of urban mobility. This will be due to improvements in the supporting transport network and the introduction of supportive government policies aimed at reducing traffic congestion and carbon emissions. The development of key technological advances, such as improved battery life, smart connectivity, and the integration of artificial intelligence for route planning, will also enhance the user experience and improve the operational efficiency of the solution. And the growing number of mobile applications that enable seamless access to micromobility solutions will also increase the take-up. Subscription models and a growing number of micromobility companies forming strategic alliances with public transport operators will also be important in shaping the market. Cities will continue to embrace micromobility as a viable alternative to traditional transport, and the sector will become an integral part of the urban mobility system.