With the Micro Mobility market projected to reach a value of USD 186.92 billion by 2030, the demand for sustainable and eco-friendly transportation options is on the rise. As urban populations grow and smart cities emerge, electric scooters and bikes are becoming increasingly popular for their convenience, cost-effectiveness, and reduced environmental impact.
Micro-Mobility: A Solution to Urban Congestion
Micro-mobility involves travel on a variety of lightweight vehicles, including electric kick scooters, electric skateboards, and electric bicycles. As traffic congestion worsens and oil and gas prices rise, the market for micro-mobility is anticipated to expand rapidly. Electric bicycles, in particular, dominate the market due to growing concerns about the environment and are expected to expand at a CAGR of more than 16.3% throughout the forecast period.
Government Support and Industry Growth
Government initiatives, such as Indonesia’s 7 trillion rupiah (approximately US $460M) subsidy for electric motorcycle purchases, are playing a significant role in promoting the adoption of electric scooters and bikes. With plans to put 2 million electric motorcycles on the road in the next three years, countries like Indonesia are setting the stage for a revolution in urban mobility.
Micro Mobility E-Bikes: A Growing Market
The micro-mobility e-bike market in the Asia Pacific is expected to experience significant growth, followed by North America and Europe. Factors such as increasing road congestion, rising oil and gas prices, and ease of parking are driving the adoption of micro-mobility e-bikes. Industry experts project an 18% growth rate for eBike sales by the end of 2023, with the trekking segment leading the way.
Appealing to a Younger Demographic
As advancements in e-bike technology make them more accessible and user-friendly, the 15-34 age group segment is expected to drive significant sales growth. With the Asia Pacific emerging as a leading region in the micro-mobility e-bike market and China dominating the global e-bike market, the future of urban mobility is looking