Global Micromobility Market 2022-2027

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    Published- Nov 2022 

    Number Of Pages -100

    KEY FINDINGS(POST COVID)

     

    1. The Global Micro Mobility Market reported an estimated XXM rides in 2021, generating $XXM in revenue. The market is growing at 12.7 percent and XX percent in terms of volume and value till 2027 from 2022.
    2. The major growth drivers will be from the e-bicycle segment, as these vehicles saw 1-2X sales growth in almost all the regions, especially in Europe and China.
    3. COVID Lockdowns had a positive impact on the market, which resulted in an increase in rides per day.
    4. Companies have adopted Fifth generation Systems – Dockless technology along with big data management implementation.
    5. Demand, subsequent realization and production of Mobility as a Service (MaaS) is dependent on a complex mix of external and internal influences; gaps in public transportation continues to remain the most significant driver across the globe. 
    6. The micro-mobility revolution is truly here and the biggest growth drivers are road congestion, growth of mobility as a service and smartphone penetration
    7. The Asian region offers  3-4 times less cost per ride compared to other regions, due to the local manufacturing of the vehicles and less operational and maintenance cost for the firms. 
    8. The market leader in 2022 for E-Scooters is XX, with around 150,000 e-scooters across Europe. 
    9. The EU policy to cut CO2 emissions by promoting public transit and clamping down on polluting cars will be the biggest drivers but stiff competition from ride hailing and bike sharing will limit growth
    10. Aggressive funding by VCs has resulted in solid expansion across geographies but the very short lifespan of scooters is a major threat to profitability. Operators have researched and developed scooters for their own platforms and to sell to private users too
    11. There were around XX e-bike manufacturers registered in China in 2020, up 86% from 2019, according to the government and XX companies were in businesses related to the electric-bike industry as of November 2022.
    12. The market is based mainly out of USA and Europe right now but there is an increasing presence in cities in other regions of the globe such as Israel, UAE, etc. and the market will soon expand in metropolitan areas globally
    13. ~$1 Billion was raised in 2020 alone by micromobility market firms mainly for expansion into new cities
    14. The main usage segment is coming to regular usage i.e., tourism and work movement mainly across USA and Europe
    15. Europe is leading the way, with Paris recently announcing plans to transform itself into a 15-minute city using the power of micromobility.
    16. The stakeholders in this setup will be service providers, scooter manufacturers, and IOT service providers who will have to synchronize effectively to ensure best customer service and fleet operation
    17. Regulations are being set up in cities mainly European cities which will also limit fleet operators which will be key for establishing market presence and share
    18. In 2021, Eight of Europe’s leading micromobility companies have created a coalition for the development of a coherent policy framework in Europe
    19. In June 2022, Electric scooter and micromobility giant Bird lays off 23% of employees in extreme cost cutting
    20. Bird has launched the Bird VPS (Visual Parking System), which is powered by Google’s ARCore Geospatial API, enabling Bird to geo-localize parked scooters with pinpoint accuracy.
    21. Striemo Inc. is developing Striemo, an electric micro mobility vehicle that provides a new mobility experience with user comfort front and center, planned for launch by the end of 2022

     

     

    INTRODUCTION

    Private car ownership has been the most common and preferred way of moving people from point A to point B. But, over the past few years with the rise of Mobility-as-a-service, even car companies want to be a complete Mobility service provider in order to keep pace with changing consumer behaviour.

     

    It first started with Ride hailing taxis in the US in 2009, moved on to the bike sharing boom in 2016 in China and then scooter sharing boom in 2018 in the US, which took everyone by surprise.

     

    infographic: Micromobility Market, Micromobility Market Size, Micromobility Market Trends, Micromobility Market Forecast, Micromobility Market Risks, Micromobility Market Report, Global Micromobility Market Share

     

    We started tracking the micro mobility market in Q1-2018 and in July 2018 when we first launched our Bike and scooter sharing startups report, $5.7 Billion was already invested in 25 startups by 150+ investors.

     

    A year later, the figure stood at $6.8 Billion and by 2020 it stood at $8.4 Billion 2020, refer to the info-graphic at the bottom of page. In 2020, even after the market was hit by Covid $ 1 B was raised raising the overall investment to $8.4 Billion globally mainly out of USA and Europe. Australia and Asia also had e scooter firms who procured investment thereby increasing the market to more cities and regions.

     

    COVID IMPACT ON MICROMOBILITY MARKET

    • Lockdown across cities combined with limited movement decreased the overall usage of e scooters overall. However once cities restarted post lockdown there was a shift away from public transport thereby increasing ridership for e scooters across multiple cities
    • Tourism and work commuting which are the most use cases are much lower in Jan 2021 than pre Covid levels which will grow as cities and countries open up post recovery from Covid. The vaccine roll out globally will have a key role in this recovery especially to open boundaries as well as return to work and tourism.
    • Regions such as Europe and USA are back to regular functioning. Australia saw a positive response too, though there was ups and downs in the process
    • The trip duration and distance per trip increased post Covid. This is due to the decrease of public transport usage as well as availability of sanitized electric scooters available. The ride payment is also in terms of time and distance which saw an increase across cities.
    • Due to Covid lockdowns and downtime in the market, the cash flow was restricted in e scooter firms. Layoffs as well as salary cuts occurred. Over the course of 2020 multiple firms were able to procure funding mainly for expansion and to restart R&D. Lockdowns also decreased fleet vandalism as well as conducting all round maintenance of the fleet.
    • Firms utilised opportunities post lockdown to increase their fleet usage by promoting social distanced transport as well as regular sanitization of their fleet.
    • Intermittent lockdowns have hurt shared mobility as it restricted movement mainly to services such as stores and restaurants which are a main source of movement for e-scooters in post Covid season. This caused a downwind as the firms were trying to establish themselves after the impact they took before restart.
    • Various players left the market and also took a break from expansion into new cities
    • Increased distance duration was a common factor across cities for micro-mobility services

     

    FUNDING RAISED SO FAR

     

    infographic: Micromobility Market, micro mobility companies

     

    More than 30 bike and scooter sharing startups have cumulatively raised ~$8.5 Billion between 2016 and June 2021. Bike sharing startups raised ~$5.5 Billion whereas the remaining $3 Billion has been raised by various scooter sharing startups between 2015-June 2021.

     

    GROWTH OPPORTUNITIES

    If ride hailing taxis are meant to fill the gap/white space between car ownership and public transport. Micro mobility can fill a lot of white space between public transport, short haul trips and the most important – Ride hailing taxis.

     

    The micro mobility market is in a very nascent phase at the moment and its evolution or growth will be subject to regulatory clearance, consumer adoption and additional funding from investors.

     

    E-scooters are already facing the brunt of regulators, read our e-scooter sharing market report to know more about E-scooter sharing. Bike sharing was also thought of as the next big thing in 2017 and even in early 2018, when Ofo and Mobike got funding to the tune of Billion dollars but now Ofo is mulling for bankruptcy and Mobike is facing an uncertain future. Read our Bike sharing report to know more

     

    Lime, Tier and VOI have claimed to have profitable months, first 3 in this business. Lime doesn’t plan to fundraise as they are reinvesting their profits to deliver new hardware, new modes and expanding to new cities across Europe and beyond.

     

    Data shows investors have injected $371 million into U.S. micro mobility firms in 2020, while European rivals have raised $687 million. Europe appears to be the target market for micro mobility firms.

     

    In the US and Europe where E-bikes and E-scooters are getting increasingly popular, India is witnessing a dramatic rise of conventional gasoline powered dockless scooters. Europe and USA also saw a new product introduction in the form of mopeds by Lime across various cities though the response is yet to be known.

     

    Voi Technology announced the launch of the City Innovation Fund – a $3-million commitment to expand parking, improve safety, and advance sustainability of micro mobility vehicles and operations.

     

    The fund’s investment priorities include expanded parking options that reduce pavement clutter to ensure cities remain accessible, as well road safety innovations focusing on novel approaches to infrastructure, rider education, and vehicle technology. In addition, the investment will fund projects that improve the sustainability of operations, including support for research and advocacy.

     

    Firms are also looking at providing their own vehicles for private usage and invested into the R&D for these too. App less riding is also a key element various firms are looking to so that they can increase the utility among non app users which improves overall fleet utilisation.

     

    Therefore, one has to read the market needs and growth signs very minutely before making any claim about micro mobility market future growth.

     

    To know more about Global Electric Skateboard Market, read our report

     

     

    MICROMOBILITY MARKET SEGMENTATION

    micro mobility companies

     

     

    GLOBAL MICROMOBILITY MARKET RECENT ACQUISITION

     

    Helbiz, a micromobility provider, disclosed that it has signed a letter of intent to buy Wheels, a competitor in the market that sells seated scooter versions and has incorporated helmet technology. The “mainly all-stock deal’s” financial details were not made public, but the company said it anticipates completing the acquisition by year’s end. 

     

    The company’s objective is “to adapt and grow with profitability at the core of every choice,” according to the statement that the acquisition is “anticipated to quadruple revenue, expand the cities served, enhance margins and cut expenses.” Palella added that the business anticipates becoming profitable in the following 18 months.

     

    In a prior memorandum of understanding signed this year, Wheels and Helbiz announced their intention to work together. Wheels committed to provide Helbiz with an initial fleet of 2,500 seated e-mobility vehicles to launch in four American cities and two Italian “innovation centres.”

     

    The New York-based company Helbiz claims to have 50 permits to sell micromobility vehicles in the United States and Italy. The announcement from Wheels’ CEO emphasised that there was “little overlap of city permissions” between the two businesses. The Wheels footprint spans 12 American cities, four institutions, and 8,000 cars.

     

    MICROMOBILITY MARKET SIZE AND FORECAST

    This is the biggest question in every industry stakeholder and observer`s mind. How big is the micro mobility market right now and how much bigger it can get in coming years?

     

    Some market reports claim that the annual micro mobility market size could be worth a few hundred Billion dollars in the US and Europe each by 2030.We believe that`s completely inaccurate.

     

    A simple reason behind our belief is that the annual passenger car market in the US and Europe are worth ~$550 and ~$370 Billion respectively where ~17 Million and ~15 Million passenger cars are sold annually. Even if we assume that in the best possible scenario, the user base is 5 times that of a car buyer as it’s a shared solution, the average revenue per rider per annum will not exceed $500.

     

    The total annual revenue will not exceed $50 Billion in respective markets and that is the best possible scenario we are talking about.

     

    To accurately forecast the global micro mobility market, we have analyzed the most popular micro-mobility solutions globally and developed a scenario-based forecast till 2025.

     

    POSSIBILITY OF A SUBSCRIPTION BASED BUSINESS MODEL

    The subscription based business model makes use of higher  scale and less than 25% average utilization. A very common example is that of annual gym membership, where only 1 in five members turn up on a regular basis.

     

    A reasonably priced subscription plan and an expensive short term plan can result in lower customer acquisition cost and higher loyalty but it can also push short term customers away.

     

    Uber launched Uber Pass, a $25/month subscription service in the US, which will include free deliveries on Uber Eats, free rides on Uber Jump and discounted rides on Uber and it remains to be seen if other micro mobility operators will go after this model.

     

    Uber offloaded Jump to Lime, but there are multiple firms such as Lyft which will look to integrate all forms of mobility services to increase market share across segments as well increase overall revenue and brand awareness.

     

    Micromobility provider Dott has seen a rapid increase in the number of new e-bike and e-scooter riders in Q1 2022.. The driver behind the surge has been new riders, with an 85% increase in first-time users in the first quarter of 2022 and also there has been a 47% increase in rides per week from January to March.

     

    The average trip distance has also increased by 10% during the three months, up to 2.1km at the end of March. Peak hours for Dott are between 7am and 9am, and from 5pm to 7pm, with the average price per trip now at €2.00.

     

    Subscription model will also play well for various users who have a fixed route for usage of micro mobility . This will include last mile connectivity to and fro work, and transportation around a college campus. Since the vehicles are based on an electric platform, there will be various features that can be easily implemented as well as decreased running costs.

     

    GLOBAL MICROMOBILITY MARKET DYNAMICS

     Marketplace Apartments, one of KUHMUTE’s host locations, hosted a celebration for the opening of their Flint network of micro-mobility charging stations. The first multi-modal charging network for electric scooters and other micro-mobility vehicles is provided by KUHMUTE.

     

    The Marketplace Apartments station is the seventh out of a total of 14 installations that will be spread out across Flint. The goal is to plan and construct a charging infrastructure for vehicles other than electric cars.

     

    Three businesses have been chosen by the mayor, Chicago Department of Transportation (CDOT), and Department of Business Affairs and Consumer Protection (BACP) to run shared scooter programmes throughout the city. Later this spring, 3,000 scooters will begin service in the city.

     

    A total of 1,000 scooters will be added to the Divvy bike-share programme, making it the first docked bike and scooter system in the country. Up to three scooter-sharing businesses may now operate in the city thanks to a new business license category that the Chicago City Council approved.

     

    Six different businesses submitted license applications for consideration by the City: Veo, Bird, Helbiz, Spin, Lime, and Spin. The City intends to grant licenses to Lime, Spin, and Superpedestrian following a thorough review. Residents and visitors to Chicago have yet another simple option for choosing active transportation with the scooter program.

     

    One must support micro mobility options like shared bikes and scooters, which offer accessible ways to get around Chicago without a car as transportation costs rise.

     

    RECENT LAUNCH IN THE MICROMOBILITY MARKET

    Segway-Ninebot, the world’s leading micromobility and robotics company, is proud to present its latest advancements to satisfy the changing needs of modern transportation. The new Segway GT and P series, as well as the E110A, combine performance with dependability and sustainability, allowing riders to commute in comfort and style.

     

    Simultaneously, Segway released the Shredder Kit, which allows Ninebot S, Ninebot S Pro, and Ninebot S MAX owners to customise their rides.

     

    The Segway GT-series e-KickScooters are the ideal choice in small, high-performance mobility for commuters and adventurers alike. The GT1 and GT2 are Segway’s supercars, with top speeds of 37.3 mph and 43.5 mph, respectively, making them the fastest in the company’s product line.

     

    The electric motors in the GT-series, like the turbocharged engines in supercars, provide exceptional acceleration. The GT1 takes 7.5 seconds to reach 30 mph from a standstill, while the GT2 takes only 3.9 seconds.

     

    Bird has launched the Bird Bike, an e-bike. The goal of the product is to make environmentally-friendly transportation solutions available to everyone. The Bird Bike will have features like a Bafang electric engine that can travel up to 50 miles (80 kilometers) on a single charge. It has come with a 36v battery that can be easily removed for a charge.

     

    The Gates Carbon Belt Drive is easy to maintain, and no-stretch carbon cable technology will offer efficient power with every pedal. According to local rules, cyclists in the EU and the UK can easily get 250W of continuous rated power, while riders in the US can get 500W of electric assistance.

     

    Veo unveiled the Apollo Class II electric bike, which has space for two riders or extra cargo. The Apollo addresses two needs: the ability for two people to ride one vehicle and the need to transport goods using a cargo storage system, in order to increase ridership and decrease reliance on gas-powered vehicles.

     

    With the Apollo’s throttle-assist motor, riders of all sizes and abilities can travel long distances without pedalling. The throttle offers a boost to accelerate from a stopped position and helps with uphill travel or carrying cargo. According to Veo’s ridership statistics, the first-generation Cosmo-e electric bike receives four times as many rides daily as the company’s electric pedal-assist bikes.

     

    COMPETITIVE LANDSCAPE IN THE MICROMOBILITY MARKET

     

     

    SI No Timeline Company Developments
    1 March 2022 Swobbee Swobbee, a Berlin-based startup that’s working on commercializing battery swapping for micromobility vehicles, has raised a $6.5 million Series A led by new strategic investor EIT InnoEnergy.
    2 March 2022 Tier Mobility Tier Mobility, the Berlin-based micromobility operator that has been steadily taking over Europe, is making a sweeping entry into North America by acquiring Spin from automaker Ford.Tier raised $200 million, much of which the startup said would be used for strategic investments and acquisitions
    3 March 2022 Beam Beam, a Singaporean shared micromobility operator, announced that it has raised $93 million in a Series B round to accelerate growth into new countries in Asia.
    4 February 2022 Swing Swing, a South Korean electric scooter and micromobility startup, announced  it has raised $24 million in a Series B round to spur its growth and expansion to Japan.
    5 February 2022 Dott Dott, an urban mobility startup, has acquired an additional round of funding in its Series B round. The company raised a $85 million Series B financing, which was first revealed in the spring of 2021.

     

    The competitive landscape in the global micro mobility market is extremely regionalized. There is no clear winner so far but players with bigger scale like Lime have an edge over their peers.

     

    The average age of companies(startups) is less than 3 years. In 2019 alone these companies raised $1.2 Billion in funding and 99% of that was raised by scooter sharing startups.

     

    In 2020 too they raised $1 B for expansion purposes and R&D. VOI raised $160 M, TIER $ 250 M, and Bolt raised $ 180 M in Q4 of 2020 for mainly expansion. IN 2021, ~150 M was raised. $85 Million was raised by Dott to expand beyond e-scooters with a new bike-sharing service.

     

    Lime is present in 56 cities in the USA and 87 cities across the world outside the USA. Bird is present in 54 cities across the USA and 31 cities across the world. Tier is present in 81 cities in Europe and 1 city in Asia. Bolt is present in 74 cities in Africa, 178 cities in Europe and 24 cities in the rest of the world.

     

    Striemo Inc.,  a startup founded primarily by Honda engineers in August 2021 through Honda’s new business creation program IGNITION. Striemo Inc. is developing Striemo, an electric micro mobility vehicle that provides a new mobility experience with user comfort front and center, slated for launch by the end of 2022

     

    Striemo will go on sale in Japan before the end of 2022, both for the general public and for enterprise applications in commercial buildings, airports, warehouses, construction sites, and other locations. In preparation for the coming regulations allowing sidewalk riding, we are pushing forward development to take advantage of Striemo’s expertise in providing stability at walking speed

     

    COMPANY PROFILES IN THE MICROMOBILITY MARKET

     

    THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS

    1. How should the car manufacturers look at this market and how it will impact them?
    2. Which country/region has the biggest growth opportunity? US, Europe, China, ASEAN or India?
    3. How much supplemental volumes can electric scooter, bikes, gasoline scooter manufacturers can expect per annum and how should the component suppliers prepare themselves for this?
    4. The opportunity for compact traction motor, wheel, wiring harness and brake manufacturers
    5. Monthly active user base and average revenue per ride in top 10 countries
    6. How does the micro mobility users profile vary from US/Europe to Asia?
    7. The legislative road blocks and how the micromobility operators plan to overcome them
    8. Opportunity for software/technology/GPS providers
    9. Investment opportunity for car rental/ taxi operator companies to offer a holistic mobility solution
    10. Market share of micro mobility operators in different regions
    1 Market Segmentation 3
    2 Executive Summary 5-6
    3 Introduction 7-15
    4 Global Bike sharing fleet size, by country, by operator,2019-2025 16-20
    5 Global E-Bike sharing fleet size, by country, by operator,2019-2025 21-25
    6 Global Gasoline scooter sharing fleet size, by country, by operator,2019-2025 26-27
    7 Global Electric kick scooter fleet size, by country, by operator,2019-2025 28-31
    8 Different transportation needs of consumers by geography 32-33
    9 Consumer profile by region 34-35
    10 Role of electric vehicles in global micro-mobility market growth 36-37
    11 Legislative roadblocks in major countries 38-39
    12 Integration of micro-mobility in on-demand taxi and public transportation 40-41
    13 About technological challenges and software infrastructure 42
    14 Monthly active users, by region 43
    15 Market Size, Dynamics and Forecast, by Scooter type 44-51
    16 Market Size, Dynamics and Forecast, by Geography 52-70
    17 Market Size, Dynamics and Forecast, by Trip type 71-79
    18 Market Size, Dynamics and Forecast, by Sharing type 80-89
    19 Competitive Landscape 90-92
    20 Funding and investor details 93-95
    21 Market share of major vendors in US ,Europe and Asia 96-97
    22 Company Profiles 98-110
    23 Unmet needs and Market Opportunity for suppliers 111-112
    24 Conclusion 113-115
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