EV Micromobility Market: Insights into Trends, Revenue, and Opportunities from 2016-2026

According to a report by TechSci Research titled "Global EV Micromobility Market - Size, Share, Trends, Opportunities, and Forecast 2016-2026: Segmentation by Vehicle Type (E-Scooters, E-Bikes, E-Mopeds, E-Kick-Scooters, Others), Type (Docked, Dock-less), and Region," the global EV micromobility market is projected to experience a steady compound annual growth rate (CAGR) during the forecast period of 2022-2026. EV micromobility encompasses various vehicles such as E-Scooters, E-Kick-Scooters, E-Mopeds, and others, which are in high demand worldwide due to their ability to cover short distances while minimizing environmental impact. The need to mitigate the adverse effects of climate change resulting from greenhouse gas emissions has led to an increased demand for electric vehicles globally. EV micromobility relies on clean energy and operates through rechargeable batteries. The market is driven by the commercial use of EV micromobility for transporting heavy loads over shorter distances, providing flexibility in traffic and cost-effectiveness.

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Additionally, the market is influenced by the growing popularity of electric kick scooters and bicycles through rental and sharing services. Supportive government policies, including incentives, subsidies, tax rebates, and schemes promoting domestic production in developing countries, are expected to create lucrative opportunities in the global EV micromobility market over the next five years. The development of charging infrastructure for enhanced convenience during travel, as well as a reduction in the cost of electric batteries, are further expected to fuel market demand.

Market players are heavily investing in research and development to incorporate innovative features into electric vehicles. Advancements in EV technologies and the increasing consumer awareness regarding the benefits of EV micromobility services are anticipated to drive market demand in the next five years. Manufacturers are also incorporating anti-theft features in electric vehicles by restricting access to batteries, which is likely to boost sales for short-distance travel. However, the lack of well-established charging infrastructure may restrain the growth of the global EV micromobility market in the next five years.

The global EV micromobility market is segmented based on vehicle type, type, regional distribution, and company. The market is divided into E-Scooters, E-Bikes, E-Mopeds, E-Kick-Scooters, and others. The E-Scooter segment is expected to dominate the market during the forecast period (2022-2026) due to its convenience, ease of use, no requirement of a driver's license, environmental friendliness, lower operating costs, suitability for short distances, and low maintenance compared to other types of vehicles. Market players are launching E-Scooters in various colors and with distinct features, along with implementing attractive marketing strategies to drive global demand.

The market is further categorized into docked and dock-less types. The dock-less segment is projected to witness the fastest incremental growth over the next five years. This segment eliminates the need for significant capital investments as it doesn't require designated parking spaces for electric vehicles. Users can park the electric vehicles anywhere based on their convenience and secure them with a password or authentication method.

Leading players operating in the global EV micromobility market include Segway Inc., Micro Mobility Systems AG, Ofo Inc., Neutron Holdings Inc., and Bird Rides Inc. These manufacturers are increasingly focusing on research and development processes to drive higher growth in the market.

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“Rise in the investments made by the leading authorities for the infrastructural and vehicle development and the smart city initiatives in the emerging economies are expected to create huge potential for the global EV mobility market growth. The development of smart transportation system and bike-sharing platform along with the growing construction of charging infrastructure is contributing to the market growth. Additionally, the rising trend for on-demand transportation services owing to the high internet penetration and availability of cheaper solutions through the online channels is expected to propel the global EV mobility market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“EV Micromobility Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026

Segmented By Vehicle Type (E-Scooters, E-Bikes, E-Mopeds, E-Kick-Scooters, Others), By Type (Docked, Dock-less) and By Region” has evaluated the future growth potential of global EV micromobility market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global EV micromobility market.

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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