Micromobility Market Size and Share Analysis by Service Type (Bike Sharing, Kick Scooter Sharing, Scooter Sharing) - Global Industry Growth and Demand Forecast to 2030

Market Overview

The global micromobility market was valued at $3,060 million in 2021, and this number is expected to increase to $10,351 million by 2030, advancing at a CAGR of 14.5% during the forecast period. This can be attributed to the continuous advancements in smart cities and the automotive infrastructure across the globe, growing number of micromobility vehicles, numerous advantages of this concept, such as restricted passenger capacity, compact size, low weight, and ease of use; and increasing demand for ridesharing in metropolitan areas.

Moreover, the rising number of service providers, increasing costs of vehicle ownership, and surging demand for emission-free vehicles are contributing to the market growth.

Bike Sharing Contributes Majority of Revenue

The bike sharing category accounted for the largest revenue share, of around 68.4%, in 2021, and it is further expected to maintain its position in the years to come. This can be ascribed to the massive usage of these services in the APAC region, as they are a low-cost and environment-friendly mobility option, which is extremely beneficial in combatting the problem of pollution. Moreover, the rapid entry of new players and growing count of collaborations among the major shared mobility service providers and existing service providers, to offer integrated services to consumers, are driving the demand for shared bikes.

Furthermore, the bike sharing industry is bifurcated into station-based and dock-less, based on type. Of them, the dock-less category was the prime revenue contributor, with a share of more than 80%, in 2021, and it is further predicted to maintain its dominance in the coming years. This is due to the rising number of companies opting for the dock-less concept as it requires less capital and entails less expenditure than a station-based system. Additionally, users find dock-less systems more attractive due to their cost-efficiency and convenient features, such as higher parking flexibility.

APAC held the fastest CAGR during the forecasted period and it is expected to dominate the bike sharing market in the coming years. This can be attributed to the presence of many service providers, such as Mobike, Hello Bike, and SG Bike, and the higher convenience and better economics this service offers.

Rising Demand for Economical Mobility Options Drives Industry Growth

The low commuting cost attached with sharing a bike is one of the major drivers for the growth of the market. The typical revenue structure of such companies includes an initial fixed fee for unlocking the bike and $0.15 per 30 minutes of travel on an average, which is much lower than that for other public shared mobility options, such as taxi, ridesharing, and car rental. Although e-bikes cost more than pedal bikes to hire, the former are more economical than other conventional modes of shared transport, such as ridesharing and car rental.

Moreover, many companies have started offering subscription-based bike sharing services on a daily, weekly, or monthly basis, which makes commuting more economical for regular users. For instance, Velib a Parisian company, offers one- and seven-day passes for occasional users. Similarly, Citi Bike offers a day pass, three-day pass, and annual membership to its users.

The kick scooter sharing category will witness the fastest growth in the market. This fast growth can be ascribed to the contribution of kick scooters in solving first- and last-mile commuting problems across the globe and the huge funding by renowned investors, venture capitalists, as well as automotive giants, in this concept.

Moreover, the kick scooter sharing market is bifurcated into first- and last-mile and multimodal, based on model. Of them, the first- and last-mile category accounted for the larger revenue share in 2021, and it is further expected to maintain its dominance during the projection period. This is because such services have been successful in replacing cars, especially for first- and last-mile commuting, as they are best suited to traveling shorter distances.

North America held the major revenue share in 2021 in the kick scooter sharing market, and it is expected to maintain its position in the coming years. This can be attributed to the growing number of startup companies and rising investment by various venture capitalists, along with large automobile giants.

Growing Demand For First- and Last-Mile Transportation

Ride hailing, carsharing, car rental and other similar services have not been able to bridge the gap in first- and last-mile transportation. Here, kick scooter sharing becomes successful, by offering short-distance mobility options, which is a key driving factor for the growth of the market. Kick scooters are usually used to cover a distance of less than 5 km (3.1 miles) on one trip. Moreover, most of the firms that offer these services operate on the dock-less model, which allows users to leave the vehicle wherever they feel like. This makes first- and last-mile travel easier, thereby driving the kick scooter sharing market growth.

The scooter sharing category also contributed significant revenue in 2021 to the market. This was due to the mounting count of technological advancements, surging travel expenses, and increasing road congestion in urban areas. Additionally, such services are majorly offered via mobile applications, which connect the service providers and users for ride booking, vehicle parking, and payments.

Furthermore, the scooter sharing market is bifurcated into one-way and round, based on trip. Of these, the one-way category is expected to continue dominating the market during the forecast period. This can be ascribed to the growing adoption of such services by convenience users/optimizers for a quick ride to nearby destinations, in order to optimize their travel time and expenses. Furthermore, these services are used as multimodal transit systems to reach another transportation hub.

Europe accounted for the largest revenue share in 2021 in the scooter sharing market, and it is further expected to maintain its position during this decade. This can be ascribed to the increasing urban road congestion and emission of greenhouse gases, rising population in the major cities of the region, owing to an increasing number of daily commuters, and need for new transportation alternatives.

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Significant Technological Advancements Propel Market Growth

Technological advancements are majorly responsible for the growth of the scooter sharing market around the world, since these services are wholly dependent on technology for back-end functioning, to allow users access to rides 24×7. The services are majorly offered via mobile apps, where the providers and the users connect for booking rides, parking vehicles, and making payments. In addition, cloud computing benefits the market with remotely deployed networks, software, storage, database, servers, and analytics.

Other services, such as platform as a service (PaaS) and software as a service (SaaS), also facilitate the scooter sharing market in growing. PaaS enables providers to develop their own mobile applications, which help them offer their services online. On the other hand, SaaS helps service providers subscribe to software from IT firms, helping them carry out their business. Furthermore, a more-recent concept, called the internet of things (IoT), has been highly beneficial in scooter fleet management systems. It helps in optimizing the ride experience by enabling efficient methods of tracking and monitoring vehicles, handling navigation, and analyzing problems from a remote location.

Key Players in Global Micromobility Market Are:

• Donkey Republic
• Citi Bike (Lyft Inc.)
• CycleHop LLC dba HOPR
• Lime
• Bird Rides Inc.
• Bolt Technology OÜ
• CITYSCOOT
• COOLTRA MOTOS SLU.

Micromobility Market Size Breakdown by Segment

The study uncovers the biggest trends and opportunities in the market, along with offering segmentation analysis at the granular level for the period 2017 to 2030.

Based on Service Type

• Bike Sharing
  • Station-Based
  • Dock-Less
• By region
  • North America – U.S. and Canada
  • Europe - U.K., Italy, Germany, Netherlands, Spain, France, Finland, and Rest of Europe
  • Asia-Pacific (APAC) - China, Singapore, India, Thailand, and Rest of APAC
  • Latin America, Middle East, and Africa (LAMEA) - Mexico, Brazil, U.A.E., and Rest of LAMEA
•  Kick Scooter Sharing
  • First and Last-Mile
  • Multimodal
• By region
  • North America - U.S. and Canada
  • Europe - Spain, France, Belgium, Switzerland, Austria, and Rest of Europe
  • APAC - Singapore, Malaysia, Thailand, and Rest of APAC
  • LAMEA - Mexico, Brazil, Colombia, and Rest of LAMEA
• Scooter Sharing
  • One-Way
  • Round
• By region
  • North America - U.S. and Canada
  • Europe - Italy, Germany, Netherlands, Spain, France, Austria, Portugal, Poland, Belgium, Switzerland, and Rest of Europe
  • APAC - China, India, Taiwan, and Rest of APAC
  • LAMEA - Mexico, Brazil, and Rest of LAMEA

Geographical Analysis

• North America
• Europe
• APAC
• LAMEA