Micromobility - Worldwide

The Micromobility market, which includes Bicycles and Electric kickscooters, has experienced significant growth in recent years. Over the past decade, the micromobility market has demonstrated steady expansion. While the surge in sales during 2020 and 2021 was exceptional, the long-term trend remains positive. Two major factors are driving this growth. Firstly, the increasing focus on sustainability is leading consumers to choose eco-friendly transportation alternatives over fossil-fueled vehicles. Secondly, urbanization and congestion in cities have amplified the demand for convenient, lightweight mobility solutions that offer flexibility for short- and medium-distance travel.

Despite the strong outlook, certain factors could pose challenges to the future growth of micromobility. Rising disposable incomes, particularly in emerging markets, may lead consumers to favor motorized vehicles such as electric scooters, mopeds, or compact cars over bicycles and kickscooters. Additionally, infrastructure development and regulations will play a crucial role in determining the accessibility and expansion of micromobility solutions in urban environments.

The COVID-19 pandemic led to a remarkable spike in micromobility sales as consumers sought socially distanced and independent transport options. This trend was particularly evident in North America and Europe. Although sales declined slightly in 2022 compared to the peak of 2020, they remain well above pre-pandemic levels. Looking ahead, we anticipate continued growth in the micromobility market, driven by sustainability efforts, urban mobility needs, and advancements in vehicle technology.

Data coverage:

Modeling approach:

Forecasts:

Additional notes: