Market Size of Micro Mobility Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.43 Billion |
| Market Size (2029) | USD 9.77 Billion |
| CAGR (2024 - 2029) | > 12.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Micro Mobility Market Analysis
The Micro Mobility Market size is estimated at USD 5.43 billion in 2024, and is expected to reach USD 9.77 billion by 2029, growing at a CAGR of greater than 12% during the forecast period (2024-2029).
The global micromobility market is driven by increasing urban congestion and a shift toward sustainable transportation solutions. Cities worldwide are adopting micromobility as a flexible, cost-effective, and environmentally friendly alternative to traditional vehicular transport. This market includes lightweight transportation modes such as e-scooters, e-bikes, and shared bicycles.
In response to environmental concerns and urban traffic, governments and municipalities are implementing policies that promote micromobility.
- In 2022, micromobility systems helped offset approximately 74 million pounds of CO₂ emissions by replacing car trips. Usage of these systems has seen a significant rise, with total trips increasing Y-o-Y and accounting for a substantial reduction in carbon emissions.
The COVID-19 pandemic influenced investment trends in the micromobility industry. After a decline in 2020, investments rebounded in 2021, with approximately USD 2.9 billion flowing into the industry. The geographic and vehicle focus of these investments has shifted, with Europe emerging as a leading investment destination, surpassing Asia due to aggressive infrastructural and policy enhancements that promote micromobility. E-kick scooters have attracted the most investment, underscoring their popularity and the consolidation trend within the industry.
Further, technological advancements are central to the expansion of the micromobility industry. Innovations in battery technology, GPS tracking, and mobile connectivity have improved the user experience and operational efficiency. Companies are increasingly focusing on app-based services and IoT integration, which facilitate better service management and user engagement.
However, challenges such as regulatory inconsistencies, safety concerns, and the economic sustainability of business models remain. Despite these challenges, the micromobility market is expected to grow significantly during the forecast period, with increasing consumer adoption and ongoing investments.
